What Was the Medicare Catastrophic Coverage Act of 1988 (MCAA)? The Medicare Catastrophic Coverage Act of 1988 (MCCA) was a government bill designed to improve acute care benefits for the elderly and disabled, which was to be phased in from 1989 to 1993. The Medicare Catastrophic Coverage Act of 1988 was meant to expand Medicare
What Is the McCallum Rule? The McCallum Rule is a monetary policy rule developed by economist Bennett T. McCallum at the end of the 20th century. The McCallum Rule uses a formula to set an operating target level for the monetary base in the next quarter based on the recent average velocity of money, current
What Is the McClellan Summation Index The McClellan Summation Index is a long-term version of the McClellan Oscillator, which is a market breadth indicator based on stock advances and declines. Sherman and Marian McClellan created and developed the McClellan Summation Index. Interpretation is similar to that of the McClellan Oscillator, except that it is more
What Is McDonough School of Business? McDonough School of Business is the business school of Georgetown University. Founded in 1957 and located in Washington, D.C., the school offers both undergraduate and graduate programs. The McDonough School of Business is known for its emphasis on international business and organizational leadership. Its Master of Business Administration (MBA)
What Is the Martingale System? The Martingale system is a system of investing in which the dollar value of investments continually increases after losses, or the position size increases with the lowering portfolio size. The Martingale system was introduced by French mathematician Paul Pierre Levy in the 18th century. The strategy is based on the
What Is Marxian Economics? Marxian economics is a school of economic thought based on the work of 19th-century economist and philosopher Karl Marx. Marxian economics, or Marxist economics, focuses on the role of labor in the development of an economy and is critical of the classical approach to wages and productivity developed by Adam Smith. Marx argued that
What Is Marxism? Marxism is a social, political, and economic philosophy named after the 19th-century German philosopher and economist Karl Marx. His work examines the historical effects of capitalism on labor, productivity, and economic development, and argues that a worker revolution is needed to replace capitalism with a communist system. Marxism posits that the struggle
What Is Mass Customization? Mass customization is the process of delivering market goods and services that are modified to satisfy a specific customer’s needs. Mass customization is a marketing and manufacturing technique that combines the flexibility and personalization of custom-made products with the low unit costs associated with mass production. Other names for mass customization
What Is a Mass-Market Retailer? A mass-market retailer, or mass merchandiser, is a company that affordably sells large quantities of goods that appeal to a wide variety of consumers. Mass-market retailers are not necessarily known for selling durable, high-quality merchandise or for having exceptional customer service, but they do meet consumers’ wants and needs at
What Is Mass Merchandising? In the context of the insurance industry, mass merchandising is a method for selling insurance in which an employer, association, or other organization agrees to assist in the sale of insurance policies to its respective members or employees. For example, a teacher’s union that agrees to market a particular insurance product
