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BANK LIABILITIES: What a bank owes, including most notably customer deposits. Bank liabilities are typically listed on the right-hand side of a bank's balance sheet. Bank assets, what a bank owns, are listed on the left-hand side of a bank's balance sheet. Net worth is the difference between assets and liabilities. The most important liability category of most bank is checkable deposits, which is part of the economy's M1 money supply. The largest liability category includes other types of deposits (especially savings deposits, certificates of deposit, and money market deposits) that enter into the M2 and M3 monetary aggregates.

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Lesson 1: Economic Basics | Unit 1: Economics Page: 2 of 18

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An understanding of economics also involves:

Scarcity. We have limited resources, but unlimited wants and needs. The study of economics is essentially the study of scarcity.
Opportunity Cost. Using resources for one alternative prevents using them for another. Opportunity cost is the highest valued alternative.
Analysis. Economics is an analytical discipline that answers 'What if...?' questions.

Scarcity dictates that we must answer the three basic questions of allocation are:
  • What? What goods and services will be produced with society's resources?
  • How? How will society's resources be used to produce the goods and services?
  • For whom? Who receives the goods and services produced with society's resources?

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AUTONOMOUS NET EXPORTS

Net exports by the foreign sector that do not depend on income or production (especially national income or gross domestic product). That is, changes in income do not generate changes in net exports. Autonomous net exports are best thought of as net exports that the foreign sector undertakes independent of income. They are measured by the intercept term of the net exports line. The alternative to autonomous net exports is induced net exports, which do depend on income.

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Today, you are likely to spend a great deal of time at an auction looking to buy either throw pillows for your living room sofa or a hepa filter for your furnace. Be on the lookout for celebrities who speak directly to you through your television.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
"You have to find something that you love enough to be able to take risks, jump over the hurdles and break through the brick walls that are always going to be placed in front of you. If you don't have that kind of feeling for what it is you're doing, you'll stop at the first giant hurdle. "

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