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M3: The wide-range monetary aggregate for the U.S. economy containing the combination of M2 (currency, checkable deposits, and assorted savings deposits) and large-denomination, institutional near monies. M3 contains financial assets that are relatively liquid, but not quite as liquid as those found in M1 or M2. The near monies added to M2 to derive M3 include large denomination certificates of deposit, institutional money market mutual funds, repurchase agreements, and Eurodollars. M3 is one of three monetary aggregates tracked and reported by the Federal Reserve System. The other two are designated M1 and M2.
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Lesson 9: Consumer Demand | Unit 5: Taking Stock
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Page: 20 of 22
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- One point of interest on the horizon is the law of demand.
- Recall that...
- The law of demand states that an inverse relation exists between demand price and the quantity demanded, ceteris paribus.
- The portion of this definition that is most important to the theory of consumer demand is the demand price.
- Definitionally speaking,
- Demand price is the maximum price that buyers would be willing and able to pay for a given quantity of a good.
- The law of diminishing marginal utility is the guiding principle of consumer demand theory.
- It captures the relation between marginal utility and quantity.
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GROSS DOMESTIC PRODUCT, WELFARE Gross domestic product (GDP) is the total market value of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. GDP is intended to measure the nation's production of wants-and-needs satisfying goods and services. While it provides an indication of how far the economy has come on the long road to battling the ever-present scarcity problem, it is NOT a direct measure of the nation's welfare or well-being. GDP is certainly a big component of the well-being of the country, but not the ONLY component.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for telephone calls from long-lost relatives.
Your Complete Scope
This isn't me! What am I?
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More money is spent on gardening than on any other hobby.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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FTSE-100
Financial Times Stock Exchange 100 stock index (UK)
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