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BID-RENT CURVE: A line or curve that shows the relation between the rent economic activities are willing to pay for land (bid-rent) and the distance of the land from the point of attraction (such as the cent of a city). The bid-rent curve has a negative slope because the activities balance the bid-rent with the cost of transportation to the point of attraction. Farther distances require greater transportation cost and thus reduce the amount of rent that can be paid. The bid-rent curve indicates why rents, and by inference land values, tend to be higher near central locations.
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BOARD OF GOVERNORS: The policy-making head of the Federal Reserve System. The Board is comprised of 7 members, each serving 14-year terms, with one term expiring every two years. This Board, when joined by five Federal Reserve District Bank presidents forms the Federal Open Market Committee. The Chairman of the Board of Governors is considered to be one of the, if not THE, most powerful individuals in the economy. See also | Federal Reserve System | Federal Reserve District Bank | Federal Open Market Committee | Board of Governors, Chairman | monetary policy |
Recommended Citation:BOARD OF GOVERNORS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: January 14, 2025].
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ASYMMETRIC INFORMATION Information is not equally available to everyone. Asymmetric information results because efficient information search inevitably stops short of compete information. Some people obtain more benefits from information than others, are willing to incur higher search costs, and thus end up knowing more. Or they incur lower information search costs and have easier access to the information. In a market, sellers tend to have more information about the good than buyers. Asymmetric information gives rise to adverse selection, moral hazard, and the principal-agent problem. These problems can be lessened through signalling and screening.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at a flea market wanting to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for letters from the Internal Revenue Service.
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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.
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"You don't have to be a fantastic hero to do certain things - to compete. You can be just an ordinary chap, sufficiently motivated to reach challenging goals." -- Sir Edmund Hillary, Explorer
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LBO
Leveraged Buyout
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