The down payment is an initial payment made when something is bought on credit. It usually depends on the type of house or any other form of object
Answer:
Allocative efficiency is about distributing or allocating resources in the best possible manner. E.g. in order to fight the current pandemic, more resources ($) is allocated to different health care institutions.
Productive efficiency is about how a company or a person uses the resources that it has in order to produce the greatest amount of benefits at the lowest possible cost. E.g. in a hospital, if a doctor is able to treat 15 patients per day, his/her productive efficiency will be higher than another doctor that only treats 10 patients per day.
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If the money supply increases, then at the old value of money there is an excess supply of money that will result in an increase in spending. The entire amount of money in circulation in an economy at any given time is referred to as the money market.
<h3>What is money market?</h3>
The money market is defined as dealing in debt with a maturity of less than one year. Investors use it to make a modest profit.
While governments and corporations use it to keep their cash flow constant. Long-term debt and equity instruments are sold and bought on the capital market.
Thus, excess supply of money that will result in an increase in spending.
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If the Fed wishes to ensure that inflation does not get out of hand, the Fed could lower the <em>target money supply growth rate</em>.
Inflation is when the general price levels in an economy increases persistently overtime. The policy tools that the Fed can use to control general price levels in the economy is known as monetary policy.
There are two types of monetary policy :
- Expansionary monetary policy : these are steps taken by the Fed to increase the supply of money in the economy. These steps include reducing the <em>target Funds rate, decreasing the reserve requirements and carrying out open market purchase</em>.
- Contractionary monetary policy : these are steps taken to reduce the money supply in the economy. These steps include reducing the <em>target money supply growth rate and carrying out an open market sales. </em>
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