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INDEX OF CONSUMER SENTIMENT: A measure of consumer attitudes, preferences, and expectations concerning the state of the economy and business-cycle conditions that is compiled each month by the Survey Research Center at the University of Michigan. The Index of Consumer Sentiment is one of two primary measures of consumer attitudes. The other is the Consumer Confidence Index developed by The Conference Board.

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Lesson 19: Money Creation | Unit 1: A Little Magic Page: 3 of 23

Topic: Money Creation <=PAGE BACK | PAGE NEXT=>

The magic is that banks create something of value: they create money.

Note that:

  • To create other valuable items we need valuable resources.
  • Banks create money by adding to a checking account.
Precedents:
  • Governments have done this for centuries: When they print paper currency, they transform items with little or no value into money with more value, value that is created from nothing.
The reality of money creation:
  • Banks do part of the money 'printing' or creation function historically performed by governments.
  • This is the reason why banks are heavily regulated.

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INDUCED EXPENDITURES

Expenditures on aggregate production by the four macroeconomic sectors that depend on income or production (especially national income or even gross domestic product). That is, changes in income generate changes in these expenditures. Each of the four aggregate expenditures--consumption, investment expenditures, government purchases, and net exports--have an induced component. Induced expenditures are measured by the slope of the aggregate expenditures line. The alternative to induced expenditures are autonomous expenditures, expenditures which do not depend on income.

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ORANGE REBELOON
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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either a weathervane with a cow on top or a box of multi-colored, plastic paper clips. Be on the lookout for attractive cable television service repair people.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
"Do what you feel in your heart to be right for you'll be criticized anyway. You'll be damned if you do and damned if you don't. "

-- Eleanor Roosevelt, first lady

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