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June 17, 2021 

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SAVINGS DEPOSITS: Accounts maintained by banks, savings and loan associations, credit unions, and mutual savings banks that pay interest but can not be used directly as money. These accounts, also termed transactions deposits, let customers set aside a portion of their liquid assets that COULD be used to make purchases. But to make those purchases, savings account balances must be transferred to checkable deposits or currency. However, this transference is easy enough that savings accounts are often termed near money. Savings accounts, as such constitute a sizeable portion of the M2 monetary aggregate.

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SUBSTITUTE-IN-CONSUMPTION: One of two goods that can replace each other in consumption--that is, each provides the same basic satisfaction of wants and needs. A substitute good is one of two alternatives falling within the other prices determinant of demand. The other is complement good. An increase in the price of one substitute good causes an increase in demand for the other. A substitute good has a positive cross price elasticity.

     See also | demand | other prices | consumption | demand curve | demand determinants | demand shock | comparative statics | elasticity | cross elasticity of demand | substitute-in-production |


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MARGINALLY-ATTACHED WORKERS

People who are willing and able to work, who have either held a job or searched for employment within the last year, but are not actively seeking employment. Discouraged workers, people who are willing and able to engage in productive activities, but due to their overwhelming lack of success believe that any effort to find a job will be fruitless so they have stopped seeking employment, fall within this broader category of marginally-attached workers. People can be marginally attached to the labor force for a variety of reasons, discouraged workers, in contrast, achieve their designation specifically because they believe search efforts are not worthwhile.

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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway hoping to buy either an AC adapter that works with your MPG player or rechargeable batteries. Be on the lookout for door-to-door salesmen.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
"The secret of getting ahead is getting started. The secret of getting started is breaking your complex, overwhelming tasks into small manageable tasks, and then starting on the first one. "

-- Mark Twain, writer

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