|
|
BANK PANIC OF 1907: A relatively serious economic downturn, that is business-cycle contraction, in 1907 that was caused by serious, big-time, instability in the banking system. This major bank panic was so severe (the term depression is more applicable than recession) that it prompted Congress to establish the Federal Reserve System, which came into existence in 1913. See fractional-reserve banking.
Visit the GLOSS*arama
|
|
|
|
|
INCREASING-COST INDUSTRY A perfectly competitive industry with a positively-sloped long-run industry supply curve that results because expansion of the industry causes higher production cost and resource prices. An increasing-cost industry occurs because the entry of new firms, prompted by an increase in demand, causes the long-run average cost curve of each firm to shift upward, which increases the minimum efficient scale of production.
Complete Entry | Visit the WEB*pedia |
|
|
PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either a coffee cup commemorating the 2000 Olympics or a birthday gift for your grandmother. Be on the lookout for celebrities who speak directly to you through your television.
Your Complete Scope
This isn't me! What am I?
|
|
|
The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
|
|
|
"The secret of a good memory is attention, and attention to a subject depends upon our interest in it. We rarely forget that which has made a deep impression on our minds. " -- Tyron Edwards, theologian
|
|
MSE
Minimum Efficient Scale
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
