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WHEALER-LEA ACT: This was a major amendment to the Federal Trade Commission Act, passed in 1938, that gave powers to the Federal Trade Commission to investigate unfair and deceptive business practices and to prevent false advertising. The Whealer-Lea Act was a major step in moving the Federal Trade Commission into its current role as more of a consumer protection agency than a monopoly buster.
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CERTIFICATES OF DEPOSIT Interest-paying bank accounts maintained by traditional commercial banks, credit unions, savings and loan associations, and mutual savings banks that stipulate a fixed interest rate and the length of maturity before the funds can be withdrawn. Certificates of deposit (CDs) pay a higher interest rate than regular savings accounts, but the funds cannot be withdraw at the full interest rate until the maturity date. These are one of two types of time deposits. The other is savings deposits. Certificates of deposit, along with savings deposits and other near monies, are added to M1 to derive M2.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale hoping to buy either any book written by Isaac Asimov or a how-to book on building remote controlled airplanes. Be on the lookout for cardboard boxes.
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This isn't me! What am I?
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"In order to create there must be a dynamic force, and what force is more potent than love." -- Igor Stravinsky, violinist
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JEL
Journal of Economic Literature
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