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DEPOSITS: Bank accounts maintained by banks on behalf of customers. In a fractional-reserve banking system, one of the primary functions of a bank is to keep customer deposits safe. Banks offer a wide range of deposits, including checkable (or transactions) deposits, savings deposits, certificates of deposit, and money market accounts. Such deposits represent a sizable portion of the M1 money supply and as well as broader monetary aggregates -- M2 and M3. They also constitute the bulk of the liabilities of a typically bank.

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Lesson 3: Scarcity | Unit 2: Resources Page: 6 of 17

Topic: Free or Scarce? <=PAGE BACK | PAGE NEXT=>

We have limited resources. Limited resources can be free or scarce.
  • Scarce Resource. A resource is scarce if it can't produce all of the goods people want it to produce.
  • Scarce resource and scarcity are related. Scarcity is the society-wide condition in which resources are limited related to all wants and needs. Scarce resource is the condition that applies to a specific resource.
  • Free Resources. A resource is free if it can produce all of the goods people want it to produce and then some. We can have free resources, even though society faces the condition of scarcity.

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AGGREGATE DEMAND SHIFTS

Changes in the aggregate demand determinants cause the aggregate demand curve to shift. The mechanism is comparable to that for market demand determinants and market demand. There are two alternatives--an increase in aggregate demand and a decrease in aggregate demand. An increase in spending by any of the four sectors--household, business, government, and foreign--shifts the aggregate demand curve to right. A decrease in spending by these four sectors shifts the aggregate demand curve to left.

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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either a wall poster commemorating the moon landing or storage boxes for your winter clothes. Be on the lookout for poorly written technical manuals.
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
"I think luck is the sense to recognize an opportunity and the ability to take advantage of it . The man who can smile at his breaks and grabs his chance gets on."

-- Samuel Goldwyn, Film executive

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