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SAVINGS ACCOUNTS: 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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MARGINAL FACTOR COST CURVE, PERFECT COMPETITION A curve that graphically represents the relation between marginal factor cost incurred by a perfectly competitive firm for hiring an input and the quantity of input employed. A profit-maximizing perfectly competitive firm hires the quantity of input found at the intersection of the marginal factor cost curve and marginal revenue product curve. The marginal factor cost curve for a perfectly competitive firm with no market control is horizontal.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time at the confiscated property police auction trying to buy either 500 feet of coaxial cable or a coffee cup commemorating the 1960 Presidential election. Be on the lookout for slow moving vehicles with darkened windows.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"It is part of the American character to consider nothing as desperate. " -- President Thomas Jefferson
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LIML
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