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NORMAL GOOD: A good for which an increase in income causes an increase in demand, or a rightward shift in the demand curve. If demand increases as income increases, it is a normal good or a good with a positive income elasticity of demand. A normal good is one of two alternatives falling within the income determinant of demand. The other is an inferior good.
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MONETARY POLICY Control over the money supply and interest rates by a central bank or monetary authority to stabilize business cycles, reduce unemployment and inflation, and promote economic growth. In the United States monetary policy is undertaken by the Federal Reserve System (the Fed). In principle, Federal Reserve policy makers can use three different tools--open market operations, the discount rate, and reserve requirements--to manipulate the money supply. In practice, however, the primary tool employed is open market operations. An alternative to monetary policy is fiscal policy.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for telephone calls from former employers.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"If you wouldn't write it and sign it, don't say it." -- Earl Wilson, Columnist
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OECD
Organization for Economic Co-operation and Development
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