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DEMAND DEPOSIT: A bank deposit that can be withdraw "on demand." This is a once common, but increasingly dated term meaning checking account deposits, checkable deposits, or transactions deposits. To the extent that demand deposits is the term used to mean checkable deposits, they are an important part of the M1 money supply. The term "demand" was used to distinguish checkable deposits from savings deposits in which accessed could be delayed for a period of "time," and not on "demand." Hence the complementary term for savings deposits is time deposits.
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Lesson 3: Scarcity | Unit 4: College Cost
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Page: 12 of 17
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An example of the opportunity cost of attending college.- Tuition, fees, textbooks, sliderule, etc. ($932.71 per semester) is an explicit opportunity cost.
- The opportunity cost is all other things that you could have bought with this money-fuzzy dice, hot fudge sundaes, a used Ford Pinto, music CDs.
- The tuition cost of your college degree is the added up over all semesters ($7,461,68).
However, the TOTAL COST actually goes well beyond this explicit $7,461,68 payment, since there are other costs that don't involve a money payment:- By attending school you have foregone alternative activities like working.
- Unearned income, $15,000 per year, $60,000 for four years, is an extremely important implicit opportunity cost of a college education.
- Implicit opportunity costs need not have a dollar value attached.
- The foregone satisfaction from activities like watching television or sleeping, are also implicit opportunity costs.
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SEIGNIORAGE The difference between the face value, or value in exchange, of money and the cost of producing the money. This seigniorage is effectively the profit government generates from producing currency--printing paper bills or minting metal coins. That is, government effectively "makes money" by making money.
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In the early 1900s around 300 automobile companies operated in the United States.
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"Follow effective action with quiet reflection. From the quiet reflection will come even more effective action. " -- Peter F. Drucker, author
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WPI
Wholesale Price Index
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