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ABSOLUTE ADVANTAGE: The general ability to produced more goods using fewer resources. This idea of absolute advantage is important for trading that occurs between both people and nations. A nation can get an absolute advantage from an advanced level of technology or higher quality resources. For a person, an absolute advantage can result from natural abilities or the acquisition of human capital (education, training, or experience).
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MONETARY AGGREGATE: Any of four basic measures of money, or liquid assets for the economy--M1, M2, M3, and L. The Federal Reserve System, as part of their regulatory duties, regularly publish these four monetary aggregates. The smallest, M1, is used as THE medium of exchange in the economy. However, M2 provides savings that are easily converted to M1 and is considered by many as the best measure of spendable assets. See also | money | M1 | M2 | M3 | Federal Reserve System | bank | fractional-reserve banking | money functions | near money |
Recommended Citation:MONETARY AGGREGATE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: April 1, 2023].
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LEADING ECONOMIC INDICATORS Ten economic statistics that tend to move up or down a few months BEFORE business-cycle expansions and contractions. Most importantly, these measures indicate peak and trough turning points about three to twelve months before they occur. Leading economic indicators are one of three groups of economic measures used to track business-cycle activity. The other two are coincident economic indicators and lagging economic indicators.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for small children selling products door-to-door.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"If we all did the things we are capable of doing, we would literally astound ourselves." -- Thomas Edison
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FIRA
Foreign Investment Review Agency
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