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July 1, 2022 

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FEDERAL DEPOSIT INSURANCE CORPORATION: A program established by Congress in 1933, during the worst of the Great Depression, to insure the deposits of failed banks. Abbreviated FDIC, it operates operates much like any private insurance company. It collects insurance premiums from its customers--the banks--in return for the assurance that it will stand behind, or be ready to pay off, any deposits that the banks can't.

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DOMESTIC: Anything that has to do with activity within the boundaries of a nation. This should be directly contrasted with the term foreign, which refers to anything beyond the boundaries of a nation.

     See also | foreign | gross domestic product | gross national product |


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DOMESTIC, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: July 1, 2022].


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AGGREGATE SUPPLY DECREASE, LONG-RUN AGGREGATE MARKET

A shock to the long-run aggregate market caused by a decrease in aggregate supply, resulting in and illustrated by a leftward shift of the long-run aggregate supply curve. A decrease in aggregate supply in the long-run aggregate market results in an increase in the price level and a decrease in real production. The level of real production resulting from the shock is a smaller level of full-employment real production.

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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time looking for a downtown retail store looking to buy either a dozen high trajectory optic orange golf balls or a large red and white striped beach towel. Be on the lookout for the happiest person in the room.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
"Experience keeps a dear school, but fools will learn in no other. "

-- Benjamin Franklin

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American Farm Economic Association
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