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INDUCED CONSUMPTION: Household consumption expenditures that depend on income or production (especially disposable, national income, or gross national product). An increase in household disposable income triggers an increase in induced consumption expenditures. Induced consumption is graphically depicted as the slope of the consumption or propensity-to-consume line, and are measured by the marginal propensity to consume. The induced relation between income and consumption, as well as other induced expenditures, form the foundation of the multiplier effect triggered by changes in autonomous expenditures.

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Lesson 18: Banking | Unit 2: Banking Details Page: 9 of 24

Topic: Balance Sheet <=PAGE BACK | PAGE NEXT=>

A balance sheet is the record of a bank's assets and liabilities.

Two parts:

  • Assets
  • Liabilities and Net Worth

As a balance sheet, both parts are equal, they balance.

Concepts:

  • Assets: What the bank owns.
  • Liabilities: What the bank owes.
  • Net worth: The difference between assets and liabilities.

The sum of liabilities and net worth must equals assets.

  • Banks don't make adjustments with real production.
  • These financial entries in the balance sheet are the bank's production.

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CHECK CLEARING

The process in which reserves or funds are transferred among banks to settle the accounts of checks written on one account and deposited into another. Check clearing is the heart and sole of daily banking activity and the final step in the use of checkable deposits as the medium of exchange for conducting transactions in the economy. Check clearing is facilitated by central clearinghouses, including the Federal Reserve System and a number of private organizations. The check clearing process is also a key component of the money creation process.

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BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time flipping through the yellow pages seeking to buy either a coffee cup commemorating next Thursday or a replacement remote control for your stereo system. Be on the lookout for strangers with large satchels of used undergarments.
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
"The greatest things ever done on Earth have been done little by little. "

-- William Jennings Bryan

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