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KEYNESIAN: Relating to the macroeconomic theory developed by John Maynard Keynes to address the problem of the persistently high unemployment occurring during the Great Depression. This word is commonly used as a modifier for other terms, such as Keynesian economics, Keynesian policy, or Keynesian equilibrium. Beyond the theory itself, the term Keynesian has come to reflect a particular philosophy toward government and the economy that a market-based economy is unlikely to achieve the macroeconomic goals of full employment, growth, and stability without the active use of government policies.
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BANK BALANCE SHEET A record of the assets, liabilities, and net worth of a bank at a given point in time. Assets are what a bank owns. Liabilities are what a bank owes. Net worth is the difference between the two and what is claimed by or owed to the owners of the bank. By definition, a balance sheet must balance. The assets on one side are equal to the liabilities and net worth on the other.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction looking to buy either shoe laces for your snow boots or a rim for your spare tire. Be on the lookout for celebrities who speak directly to you through your television.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"He, who every morning plans the transactions of the day, and follows that plan, carries a thread that will guide him through a labyrinth of the most busy life." -- Victor Hugo, Writer
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AVC
Average Variable Cost
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