Government Appropriation Process

Appropriations require approval for each allocation, while entitlements provide automatic funding.

Tax expenditures decrease government accountability by obscuring actual spending from taxpayers.

A bank of issue makes loans by printing currency backed by assets financed with those loans.

<p>A central bank acts as a 'bank for banks,' providing loans and purchasing assets from commercial banks.</p> Signup and view all the answers

<p>A central bank creates currency by printing it or creating demand deposits, which are retired when loans are redeemed.</p> Signup and view all the answers

<p>Productive assets are self-liquidating, while nonproductive assets may not generate returns, affecting financial stability.</p> Signup and view all the answers

<p>Legislators may use tax breaks to obscure spending and avoid the appropriations process, reducing transparency.</p> Signup and view all the answers

<p>Monetizing assets allows central banks to influence money supply and stabilize the economy, but can also lead to inflation if mismanaged.</p> Signup and view all the answers

<p>Discounting allows central banks to purchase assets at less than their face value, facilitating liquidity in the financial system.</p> Signup and view all the answers

<p>Commercial banks take deposits and make loans for commercial transactions, acting as financial intermediaries in the economy.</p> Signup and view all the answers

<p>Investment banks buy and sell securities and act as intermediaries between issuers and investors.</p> Signup and view all the answers

<p>A barrier refers to laws or customs that prevent qualified individuals from full participation in the economic process.</p> Signup and view all the answers

<p>Louis O. Kelso developed binary economics, with 'binary' indicating the two categories of production: human labor and non-human capital.</p> Signup and view all the answers

<p>Binary economics posits that sustainable economic growth and shared abundance are achievable through broad-based capital ownership.</p> Signup and view all the answers

<p>The principles are binary growth, binary productiveness, and binary property right, all fostering equitable participation in wealth generation.</p> Signup and view all the answers

<p>The CCC aggregates Capital Homestead loans for discounting at the Federal Reserve, facilitating broader access to capital ownership.</p> Signup and view all the answers

<p>The CCIC provides credit insurance to protect lenders against default risk on Capital Homestead credits.</p> Signup and view all the answers

<p>Binary property right emphasizes the individual's right to privately own capital-creating assets on market principles.</p> Signup and view all the answers

<p>Binary productiveness highlights that capital assets significantly contribute to economic output alongside human labor.</p> Signup and view all the answers

<p>Binary economics divides production into human labor and capital, while classical theory considers labor as the sole factor enhanced by capital.</p> Signup and view all the answers

<p>Binary theory asserts that economic justice and market efficiency can coexist and reinforce one another in a fair marketplace.</p> Signup and view all the answers

<p>The Capital Homestead program aims to promote individual ownership of capital to achieve broader prosperity and economic freedom.</p> Signup and view all the answers

<p>The CCRC insures the insurers of loans discounted by the Federal Reserve, helping to spread the risk of loan defaults.</p> Signup and view all the answers

<p>Capital Homesteading expands the concept of ownership to include advanced technologies through equity shares in competitive enterprises.</p> Signup and view all the answers

<p>A CHA allows citizens to accumulate capital assets tax-sheltered and receive interest-free productive credit for investments.</p> Signup and view all the answers

<p>It allows participants to accumulate capital without incurring taxes on their capital accumulations or dividend income.</p> Signup and view all the answers

<p>Kelso used 'capitalism' to describe a system where capital predominates over labor, advocating for broader capital ownership among households.</p> Signup and view all the answers

<p>Binary economists reject the term 'capitalism' as it implies a system based on greed, suggesting it lacks a focus on equitable distribution.</p> Signup and view all the answers

<p>'Charity' distributes according to need, while 'justice' distributes according to contribution.</p> Signup and view all the answers

<p>Charity is seen as a virtue because it emphasizes loving one's neighbor and giving without expectation in return.</p> Signup and view all the answers

<p>The 'Just Third Way' advocates for a system that promotes universal capital ownership while minimizing the concentration of economic power.</p> Signup and view all the answers

<p>It means generating sufficient income for individuals without relying on existing savings or consumption reductions.</p> Signup and view all the answers

<p>It emphasizes broad access to capital ownership rather than concentrating wealth among a few individuals.</p> Signup and view all the answers

<p>'Insurers of last resort' refers to institutions that absorb risks when primary insurers cannot cover loan defaults.</p> Signup and view all the answers

<p>'Future savings' are the profits generated from investments that repay the loans, allowing participants to receive dividends.</p> Signup and view all the answers

<p>It challenges barriers to access capital ownership and seeks to universalize such access for all individuals.</p> Signup and view all the answers

<p>It was originally used to describe a Capital or Industrial Homestead Account.</p> Signup and view all the answers

<p>Imputed rent is viewed as the rental value of a home treated as income if rented out.</p> Signup and view all the answers

<p>Demand-pull inflation results from increased money supply chasing fewer goods, while cost-push inflation arises from rising production costs.</p> Signup and view all the answers

<p>It promotes widespread capital ownership through monetary, tax, and fiscal reforms.</p> Signup and view all the answers

<p>It aims to restructure global money and the marketplace consistent with economic and social justice principles.</p> Signup and view all the answers

<p>Demand-pull inflation can be managed through fiscal and monetary policy.</p> Signup and view all the answers

<p>Primary issuance includes newly issued equity shares or bonds purchased directly from the issuer.</p> Signup and view all the answers

<p>It safeguards lenders against potential borrower default, acting as a substitute for collateral.</p> Signup and view all the answers

<p>It refers to credit that does not incur interest charges for the borrower.</p> Signup and view all the answers

<p>It advocates for the democratization of money and capital ownership to empower all individuals.</p> Signup and view all the answers

<p>Cost-push inflation occurs when increasing production costs lead to higher prices for goods and services.</p> Signup and view all the answers

<p>It refers to new money created without using existing savings pools.</p> Signup and view all the answers

<p>Secondary securities are outstanding shares or bonds that are resold, not newly issued.</p> Signup and view all the answers

<p>They cannot make personal claims on capital assets unless those assets are pledged as collateral on a corporate loan.</p> Signup and view all the answers

<p>Forced savings refer to savings that individuals must accumulate, often through regulatory mechanisms.</p> Signup and view all the answers

<p>It can overcome drawbacks by increasing transparency and broadening dividend distributions to shareholders, especially workers.</p> Signup and view all the answers

<p>Capital credit refers to funds lent or borrowed for feasible projects expected to generate income for loan repayment.</p> Signup and view all the answers

<p>Consumer credit is borrowed for personal goods and services that do not generate income for repayment.</p> Signup and view all the answers

<p>The borrower is insulated from the risk of default, meaning personal assets cannot be seized in case of loan default.</p> Signup and view all the answers

<p>Pure credit is an interest-free loan made for feasible productive projects, based on enforceable promises and future profits.</p> Signup and view all the answers

<p>It covers the costs of capital assets from future profits generated by the productivity of those assets.</p> Signup and view all the answers

<p>It involves loans made for productive purposes without charging interest, adhering to various religious traditions against usury.</p> Signup and view all the answers

<p>It allows financing for capital projects that create future savings repaying the loan, with no interest charged.</p> Signup and view all the answers

<p>It refers to a credit structure that separates the source and use of funds for different types of borrowers.</p> Signup and view all the answers

<p>Credit insurance acts as a substitute for collateral and protects the lender's investment, securing the loan against defaults.</p> Signup and view all the answers

<p>Profits are first used to repay the loan, and any remaining profits are distributed as dividends to the owners.</p> Signup and view all the answers

<p>It enables individuals without sufficient past savings to become capital owners voluntarily on market principles.</p> Signup and view all the answers

<p>It is based on the loan paper, shares purchased with loan funds, and the present value of productive assets.</p> Signup and view all the answers

<p>'Good' uses finance broadly owned private sector growth, while 'bad' uses fuel nonproductive consumer and government debt or speculation.</p> Signup and view all the answers

<p>It provides member banks and the Farm Credit system access to credit for ownership-expanding projects, at minimal service charges.</p> Signup and view all the answers

<p>CSOP provides self-liquidating credit to customers, linking their ownership rights in exchange for future investment opportunities.</p> Signup and view all the answers

<p>Deflation results in fewer currency units available for unchanged goods, often leading to a decline in general price levels.</p> Signup and view all the answers

<p>Demand is the desire to possess a good or service with the necessary means for a legal transaction.</p> Signup and view all the answers

<p>Demand deposits are bank deposits that can be accessed immediately through checks or withdrawals.</p> Signup and view all the answers

<p>Aggregate demand is the sum of all demand within an economy, including consumer expenditures, investment, and net exports.</p> Signup and view all the answers

<p>Economic dilution occurs when new shares are issued without increasing productivity or profits, reducing existing shareholders' value.</p> Signup and view all the answers

<p>Economic dilution erodes existing shareholders' values, while political dilution does not affect economic values but alters ownership distribution.</p> Signup and view all the answers

<p>The discount rate is the percentage by which a central bank reduces cash for purchasing qualified loans from banks.</p> Signup and view all the answers

<p>Discounting involves a central bank purchasing qualified loans from banks by creating new currency or demand deposits.</p> Signup and view all the answers

<p>It allows the money supply to expand to finance feasible capital investments, preventing deflationary pressures.</p> Signup and view all the answers

<p>Effective demand refers to the income available for consumption, distinguishing it from income allocated for reinvestment.</p> Signup and view all the answers

<p>Issuing new shares can lead to economic dilution, affecting existing shareholders' values if not matched by increased productivity.</p> Signup and view all the answers

<p>Derived demand is contingent on primary consumer demand, such as the demand for capital goods being driven by effective consumption.</p> Signup and view all the answers

<p>The restoration of full rights of property and extension of private property to every individual.</p> Signup and view all the answers

<p>It rejects the blending of political democracy with economic plutocracy and emphasizes justice over institutionalized greed or envy.</p> Signup and view all the answers

<p>Enabling the poor to become self-reliant, such as helping them start a business.</p> Signup and view all the answers

<p>Exchanges of equal or equivalent value between individuals.</p> Signup and view all the answers

<p>Social charity focuses on improving institutions, while organized charity targets individual human beneficiaries.</p> Signup and view all the answers

<p>A proportionality of value given and received among individuals based on their contributions.</p> Signup and view all the answers

<p>The dignity of each human person.</p> Signup and view all the answers

<p>To implement a 100% reserve requirement for banks to ensure full asset backing of loans.</p> Signup and view all the answers

<p>The right to participate fully in all institutions of the common good.</p> Signup and view all the answers

<p>It allows citizen-shareholders to collectively purchase and develop local real estate.</p> Signup and view all the answers

<p>Collateral is existing wealth pledged as security for a loan.</p> Signup and view all the answers

<p>Economic justice is a subset of social justice that concerns moral principles in economic institutions.</p> Signup and view all the answers

<p>It refers to the aggregate activities of a group without recognizing individual members.</p> Signup and view all the answers

<p>To free each person economically to maximize their potential beyond mere subsistence.</p> Signup and view all the answers

<p>Collectivism denies individual ownership while joint ownership allows multiple individual stakes.</p> Signup and view all the answers

<p>It seeks to limit the use of one’s property to prevent harm to others or violations of justice.</p> Signup and view all the answers

<p>The common good encompasses institutions that allow individuals to exercise rights and fulfill needs.</p> Signup and view all the answers

<p>When participative and distributive justice function effectively for everyone within a free market.</p> Signup and view all the answers

<p>Greed and envy.</p> Signup and view all the answers

<p>Every individual can contribute to the common good at their respective level.</p> Signup and view all the answers

<p>Structures that guide how individuals earn a living, engage in contracts, and exchange goods.</p> Signup and view all the answers

<p>A corporation limits liability for its shareholders and is a creation of law.</p> Signup and view all the answers

<p>Distributive justice is based on contributions, while charity is based on needs.</p> Signup and view all the answers

<p>Consumption income is money spent on consumer goods and services rather than on savings or investments.</p> Signup and view all the answers

<p>Social charity inspires individual action towards improving flawed institutions.</p> Signup and view all the answers

<p>Community Investment Corporations are for-profit entities allowing citizen ownership, unlike the nonprofit CDCs.</p> Signup and view all the answers

<p>Full asset backing prevents banks from making risky speculative loans.</p> Signup and view all the answers

<p>It determines what each person is entitled to receive based on their relative contribution or participation in the economy.</p> Signup and view all the answers

<p>It includes servant leadership, transformational leadership, and principle-centered leadership, emphasizing trust, appreciation, and empowerment.</p> Signup and view all the answers

<p>Social justice aims to ensure equal opportunity and access to social goods for every member of society.</p> Signup and view all the answers

<p>The formula is $V=Q/P$, where $V$ is value, $Q$ is quality, and $P$ is price.</p> Signup and view all the answers

<p>It provides a framework for creating sustainable ownership cultures focused on maximizing value for customers.</p> Signup and view all the answers

<p>It necessitates the elimination of barriers to capital ownership as technology increasingly contributes to production.</p> Signup and view all the answers

<p>It requires individuals to collaborate in improving institutions and fostering social goods.</p> Signup and view all the answers

<p>The input principle requires access to means and opportunities for every person to contribute economic value.</p> Signup and view all the answers

<p>It refers to enabling individuals within an organization to realize their potential through justice principles.</p> Signup and view all the answers

<p>Charisma serves as a role model that inspires and motivates others within an organization.</p> Signup and view all the answers

<p>It critiques the term as a misnomer, arguing it should relate to enhancements in human labor capabilities.</p> Signup and view all the answers

<p>Success is measured by the delivery of maximum value to customers and the empowerment of each person in the enterprise.</p> Signup and view all the answers

<p>Participative justice demands universal access to capital ownership to ensure fair economic power distribution.</p> Signup and view all the answers

<p>They are necessary to correct violations of human dignity and rights within those institutions.</p> Signup and view all the answers

<p>It operates from the macro-level of society's common good to the micro-level of individual organizations.</p> Signup and view all the answers

<p>To measure the value of goods and services exchanged.</p> Signup and view all the answers

<p>New money is created and backed by future profits from soundly managed projects.</p> Signup and view all the answers

<p>'Money, old' refers to past savings, while 'money, new' is created independently of past accumulations.</p> Signup and view all the answers

<p>It governs the money supply by buying and selling Treasury securities.</p> Signup and view all the answers

<p>By redistributing tax revenues to individuals earning below a certain income level.</p> Signup and view all the answers

<p>It refers to the process of lending money at an amount less than the face value of the loan.</p> Signup and view all the answers

<p>Money measures obligations, rights, and relative values rather than being a consumable good.</p> Signup and view all the answers

<p>It is the service fee that the Federal Reserve charges its member banks for borrowing funds.</p> Signup and view all the answers

<p>It suggests money should facilitate economic transactions for the common good.</p> Signup and view all the answers

<p>To secure individual rights by enabling ordinary citizens to own income-generating property.</p> Signup and view all the answers

<p>It establishes the rights and duties associated with individuals in the economy.</p> Signup and view all the answers

<p>Capital credit is repaid with future savings generated from profits of viable projects.</p> Signup and view all the answers

<p>Dividends must be proposed and approved by the Board of Directors of a corporation.</p> Signup and view all the answers

<p>Financial instruments secured by industrial assets and inventory purchased on credit.</p> Signup and view all the answers

<p>ESAPs withhold full voting rights for employees over the shares they accumulate, unlike ESOPs.</p> Signup and view all the answers

<p>It emphasizes the unique dignity and moral equality of each individual.</p> Signup and view all the answers

<p>An entitlement automatically allocates funds as cash payments or tax reductions without needing annual approval.</p> Signup and view all the answers

<p>It shifts focus away from tangible goods and services to the systems of exchange.</p> Signup and view all the answers

<p>It refers to the process of achieving greater efficiency with fewer resources through innovative design.</p> Signup and view all the answers

<p>It allows borrowing without the obligation to repay unless certain conditions are met.</p> Signup and view all the answers

<p>Feasibility assesses whether a project can generate future savings sufficient to repay borrowed capital.</p> Signup and view all the answers

<p>They act as promissory notes backed by the anticipated value of crops.</p> Signup and view all the answers

<p>It is the interest rate that banks charge each other for overnight loans.</p> Signup and view all the answers

<p>Future profits are projected returns that back the creation of new capital credits.</p> Signup and view all the answers

<p>To establish the central banking system of the United States and empower it to create money.</p> Signup and view all the answers

<p>To control inflation and maintain a stable value for the U.S. dollar.</p> Signup and view all the answers

<p>Leveraged ESOPs borrow funds to acquire shares, while unleveraged ESOPs receive shares contributed by the employer.</p> Signup and view all the answers

<p>It pertains to the equitable distribution of resources and opportunities within a society.</p> Signup and view all the answers

<p>They serve mainly as research centers to assess economic conditions and provide information.</p> Signup and view all the answers

<p>Productivity measures economic output based solely on labor, ignoring contributions from technology and productive capital.</p> Signup and view all the answers

<p>Profits are the financial gains obtained after subtracting all costs, including labor costs, from the revenues generated by selling goods and services.</p> Signup and view all the answers

<p>Average propensity to consume is the percentage of disposable income spent, while marginal propensity to consume refers to the change in consumption resulting from a change in disposable income.</p> Signup and view all the answers

<p>Property rights include possessing, excluding others, disposing, using, enjoying profits, and destructing the property owned.</p> Signup and view all the answers

<p>The equation is $M \times V = P \times Q$, where $M$ is the money supply, $V$ is the velocity of money, $P$ is the price level, and $Q$ is the number of transactions.</p> Signup and view all the answers

<p>Rediscounting is the process where central banks discount financial papers that commercial banks have already discounted for their borrowers.</p> Signup and view all the answers

<p>A 100% reserve policy requires commercial banks to retain a dollar's worth of assets for every dollar created for lending, limiting potential loan creation.</p> Signup and view all the answers

<p>Property is defined not just by ownership but by the rights associated with it, which must be enforced by law to prevent harm to others.</p> Signup and view all the answers

<p>Velocity refers to how often each unit of currency is spent within a year, impacting the overall economic activity and price levels.</p> Signup and view all the answers

<p>Laws enforce property rights, ensuring owners can exercise their rights without infringing on the rights of others or the common welfare.</p> Signup and view all the answers

<p>Wealthier individuals have a lower marginal propensity to consume as they invest surplus income, while poorer individuals spend a higher proportion of their income on consumption.</p> Signup and view all the answers

<p>Capital Homesteading aims to enable broader ownership of capital among citizens, allowing them to purchase shares of companies with new money created by a central bank.</p> Signup and view all the answers

<p>'Pure credit' refers to credit created without correspondingly increasing tangible assets or savings, often facilitated through banking mechanisms.</p> Signup and view all the answers

<p>Shareholders and creditors' claims to capital assets are limited by their contractual agreements and the law governing corporate insolvency.</p> Signup and view all the answers

<p>Justice-Based Management focuses on integrating moral values within corporate management, while Value-Based Management emphasizes market speculation on undervalued assets.</p> Signup and view all the answers

<p>A marketable good or service is one that can be sold in the marketplace, generating revenue for the entity offering it.</p> Signup and view all the answers

<p>Voting Passthrough refers to the ability for employees to have their voting rights on company shares held in a trust exercised on their behalf.</p> Signup and view all the answers

<p>A wage system can lead to economic plutocracy, increased competition for jobs, and political manipulation, concentrating wealth and power among a small elite.</p> Signup and view all the answers

<p>'Leisure work' is unpaid activity aimed at personal and social development, fostering creativity and individual fulfillment beyond mere economic labor.</p> Signup and view all the answers

<p>Personalism posits that human rights are inherent to each individual and not created by the State or the collective.</p> Signup and view all the answers

<p>'Zero-Sum' describes a situation where one person's gain is another's loss, contrasting with synergistic models that emphasize mutual benefit.</p> Signup and view all the answers

<p>Moral values are central to Justice-Based Management, guiding corporate decisions to create a fairer ownership culture within businesses.</p> Signup and view all the answers

<p>Economic Personalism seeks to diffuse economic power by enabling individuals to gain access to capital ownership and private property rights.</p> Signup and view all the answers

<p>'Just wages' are determined in an open, anti-monopolistic free market, guided by principles of participative, distributive, and social justice.</p> Signup and view all the answers

<p>This phrase underscores the limited opportunity for most individuals to earn income solely through wages, exacerbating inequalities in wealth distribution.</p> Signup and view all the answers

<p>Work includes unpaid activities aimed at personal, social, or spiritual growth, emphasizing the broader contributions to society.</p> Signup and view all the answers

<p>Power is the capacity to effect change and is essential for individuals to grow and shape their own futures.</p> Signup and view all the answers

<p>The binary economy seeks to address wealth distribution, ownership rights, and promote broader access to capital for all members of society.</p> Signup and view all the answers

<p>Unlike Collectivism, which centers rights around the state, Personalism asserts that human dignity is inherent and not imposed by societal structures.</p> Signup and view all the answers

<p>A just society implements systemic checks to ensure equal access to capital ownership and balance power distribution among citizens.</p> Signup and view all the answers

<p>Economic justice in binary economics posits that equitable access to ownership enhances overall market efficiency and societal well-being.</p> Signup and view all the answers

<p>A just monetary system is crucial for facilitating equal opportunity for all to acquire and own productive capital.</p> Signup and view all the answers

<p>Economic Personalism identifies labor and capital as the two categories of inputs through which individuals can contribute to production.</p> Signup and view all the answers

<p>The Just Third Way promotes a structure that diffuses power to ensure that every citizen has an equal opportunity for economic ownership.</p> Signup and view all the answers

<p>In market economies, price reflects voluntary agreements between buyers and sellers, while in centrally planned economies, prices are set by the government regardless of actual supply and demand.</p> Signup and view all the answers

<p>Privilege refers to a legal freedom allowing one party to act in ways that others may not be able to, signifying an absence of right from the affected party's perspective.</p> Signup and view all the answers

<p>Productiveness measures the contribution of economic factors to production based on their market-determined value.</p> Signup and view all the answers

<p>Property rights confer the ability to control and derive income from owned resources, establishing a direct link between economic and political power.</p> Signup and view all the answers

<p>Personalism promotes the idea that individuals should work not just for their own good, but also for the welfare of others and the Common Good.</p> Signup and view all the answers

<p>Advancements in technology can lead to improved production processes, allowing for greater efficiency and the ability to substitute resources, thus overcoming scarcity.</p> Signup and view all the answers

<p>Kelso's framework promotes restructuring the social order to ensure equitable access to capital and resources, aiming to rectify economic disparities.</p> Signup and view all the answers

<p>Economic sovereignty is the right to access the institutions of the economic common good, allowing individuals to function independently within the economy.</p> Signup and view all the answers

<p>The principle of subsidiarity states that decisions should be made at the lowest possible level, allowing those directly involved to take responsibility for their community's common good.</p> Signup and view all the answers

<p>Synergy in economic interactions produces outcomes where cooperation benefits all parties, unlike a zero-sum game where one party's gain is another's loss.</p> Signup and view all the answers

<p>A tax credit allows taxpayers to retain funds they would otherwise pay as taxes for engaging in approved activities, promoting economic behavior without direct government spending.</p> Signup and view all the answers

<p>Ownership ensures individuals have access to resources necessary for generating income, thus reinforcing their economic sovereignty and independence.</p> Signup and view all the answers

<p>A binary economy advocates for widespread capital ownership, which redistributes income and increases overall purchasing power, stimulating demand and growth.</p> Signup and view all the answers

<p>Socialism centralizes control over production means in the state or collective, allowing regulation of economic activities like wages and prices.</p> Signup and view all the answers

<p>Binary economics regards private property as essential for economic and social order, providing individuals with the means to achieve sovereignty.</p> Signup and view all the answers

<p>The Just Third Way proposes a restructuring of economic systems to ensure equitable distribution of capital, promoting collective prosperity.</p> Signup and view all the answers

<p>'Future savings' refers to the notion that individuals can leverage future income generation opportunities to secure investment loans today.</p> Signup and view all the answers

<p>A two-tiered credit system can create disparities in access to financing, favoring established entities over individuals or smaller businesses.</p> Signup and view all the answers

<p>Imputed rent is the hypothetical income generated from owned property, reflecting its value even if not directly received.</p> Signup and view all the answers

<p>A reserve requirement is the percentage of deposits that a bank must hold as reserves, limiting the amount it can loan out.</p> Signup and view all the answers

<p>'Effective scarcity' refers to the perception of insufficient resources that constrains economic growth and development.</p> Signup and view all the answers

<p>'Scarcity, Post' argues that arrangements can be made to overcome effective scarcity, countering the idea that it is an inevitable constraint.</p> Signup and view all the answers

<p>A risk premium is an additional amount added by a lender to cover the anticipated risks of loan repayment.</p> Signup and view all the answers

<p>New money is created when banks issue loans based on a fraction of their reserves, which is backed by productive assets.</p> Signup and view all the answers

<p>Say's Law posits that production generates income, which in turn creates demand for goods and services.</p> Signup and view all the answers

<p>The 'binary property right' concept highlights the dual nature of rights and duties in economic relationships, ensuring fair ownership.</p> Signup and view all the answers

<p>'Savings, past' refers to wealth accumulated from prior consumption reduction, while 'savings, future' focuses on profits used to repay loans.</p> Signup and view all the answers

<p>Binary economics seeks to ensure all consumers share profits from their ownership stakes in enterprises, promoting equitable income distribution.</p> Signup and view all the answers

<p>'Ephemeralization' is the process of redesigning technologies to achieve greater efficiency with fewer resources.</p> Signup and view all the answers

<p>'Forced savings' involve accumulating cash by reducing consumer goods purchases to invest in productive assets.</p> Signup and view all the answers

<p>Traditionally, scarcity is equated with resource insufficiency, whereas binary economics argues that scarcity can be overcome through innovation.</p> Signup and view all the answers

<p>A bank's reserves are crucial for ensuring it can meet withdrawal demands from depositors while managing its loan capabilities.</p> Signup and view all the answers

<p>'Capital credit' refers to financing obtained through credit to acquire capital assets, essential for enabling ownership and productive capacity.</p> Signup and view all the answers

<p>Legal tender is currency that a debtor is authorized to use as payment, which a creditor must accept for money obligations.</p> Signup and view all the answers

<p>The principle of limitation prevents harmful concentrations of capital ownership, ensuring everyone's right to participate in production and earn a fair income.</p> Signup and view all the answers

<p>M1 includes currency outside the U.S. Treasury, travelers checks of nonbank issuers, and demand deposits at commercial banks.</p> Signup and view all the answers

<p>M2 includes everything in M1 plus savings deposits, small-denomination time deposits, and balances in retail money market mutual funds.</p> Signup and view all the answers

<p>M3 consists of M2 plus balances in institutional money market mutual funds, large-denomination time deposits, and Eurodollars held worldwide.</p> Signup and view all the answers

<p>A market glut refers to the excess production of goods that cannot be sold at prevailing market prices.</p> Signup and view all the answers

<p>The primary market involves purchasing financial instruments directly from their original issuers.</p> Signup and view all the answers

<p>The secondary market allows trading of financial instruments among investors, rather than with the original issuers.</p> Signup and view all the answers

<p>Maslow's Hierarchy highlights the importance of meeting basic needs as a foundation for achieving social recognition and self-actualization.</p> Signup and view all the answers

<p>Mercantilism is an economic system where the state exploits concentrated economic power to create monopolies and protect domestic industries.</p> Signup and view all the answers

<p>The principle of limitation is relevant in an economy with private property, regulating capital ownership to ensure fair economic participation.</p> Signup and view all the answers

<p>Eurodollars are U.S. dollar-denominated deposits held in foreign banks or branches of U.S. banks outside the United States.</p> Signup and view all the answers

<p>The discontinuation of M3 implies a shift in focus towards more manageable and specific measures of money supply like M1 and M2.</p> Signup and view all the answers

<p>The principle of harmony emphasizes the positive duty for citizens to collaborate in restructuring economic institutions for justice.</p> Signup and view all the answers