by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is the Black Economy?A black economy, also known as a black market, informal market, or underground economy, is the collection of business activity and revenue that is not recorded by governments or regulatory bodies. The black economy generally consists of...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is the Farm Price Index (FPI)?The Farm Price Index (FPI), or Agricultural Price Index, is a monthly index that monitors the prices of various crops and livestock received by farmers. The U.S. Department of Agriculture (USDA) releases the index to monitor price...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is a Monetary Base?The money base of a country refers to the total amount of currency that is in circulation or held in the central banks reserves. It is a term used in economics to describe the quantity of money or currency held in the hands of the public or as...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is the McCallum Rule?The McCallum rule is a monetary policy rule that specifies the level of the monetary base a central bank can maintain in a country. This rule explains the interaction between the total amount in the monetary base and a country’s...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Hubbert’s Peak Theory?Hubbert’s peak is defined as the point where the demand for the resources is rising at its highest production rate and then expects a reduction in the correlation with the increased demand. As demand continues to rise but...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Shapley Value?The Shapely Value is a gaming theory that posits that gains and losses (costs) of a game should be distributed fairly amount all the actors who worked collaboratively. This theory is a solution theory used in a context where there is cooperation...
