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The Federal Reserve – The US Central Bank practiced sterilization in the troubled interwar period leading up to the Great Depression.. In macroeconomics, sterilization is action taken by a country's central bank to counter the effects on the money supply caused by a balance of payments surplus or deficit. [1]
Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
A copper retort A glass retort. In a chemistry laboratory, a retort is a device used for distillation or dry distillation of substances. It consists of a spherical vessel with a long downward-pointing neck. The liquid to be distilled is placed in the vessel and heated.
Monetary economics is the branch of economics that studies the different theories of money: it provides a framework for analyzing money and considers its functions ( as medium of exchange, store of value, and unit of account), and it considers how money can gain acceptance purely because of its convenience as a public good. [1]
Unlike a personal check, a cashier’s check is a form of payment directly drawn on a bank’s funds. It doesn’t depend on your personal account to cover the amount. It doesn’t depend on your ...
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...
A certified check is a personal check that has been verified by a bank. A certified check is typically used for a large financial transaction or in a situation when the buyer and seller hasn't ...