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December 7, 2021 

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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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PERFECT COMPETITION: An ideal market structure characterized by a large number of small firms, identical products sold by all firms, freedom of entry into and exit out of the industry, and perfect knowledge of prices and technology. This is one of four basic market structures. The other three are monopoly, oligopoly, and monopolistic competition. Perfect competition is an idealized market structure that's not observed in the real world. While unrealistic, it does provide an excellent benchmark that can be used to analyze real world market structures. In particular, perfect competition efficiently allocates resources.

     See also | market structure | firm | monopoly | oligopoly | monopolistic competition | perfect competition and demand | perfect competition and efficiency | perfect competition characteristics | perfect competition and short-run supply curve | monopoly and perfect competition |


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PERFECT COMPETITION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2021. [Accessed: December 7, 2021].


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SECOND ESTATE

Another term for the business sector. This is one of four divisions of society based on economic function. The other three are government as the first estate, consumers as the third estate, and journalists as the fourth estate.

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GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time strolling through a department store hoping to buy either throw pillows for your bed or a package of blank rewritable CDs. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?

The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
"Use, do not abuse; neither abstinence nor excess ever renders man happy."

-- Voltaire, philosopher

EGARCH
Exponential Generalized Autoregressive Conditional Heteroskedasticity
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