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WPI: The abbreviation for Wholesale Price Index, which is an index of the prices paid by retail stores for the products they would ultimately resell to consumers. The Wholesale Price Index, abbreviated WPI, was the forerunner of the modern Producer Price Index (PPI). The WPI was first published in 1902, and was one of the more important economic indicators available to policy makers until it was replaced by the PPI in 1978. The change to Producer Price Index in 1978 reflected, as much as a name change, a change in focus of this index away from the limited wholesaler-to-retailer transaction to encompass all stages of production. While the WPI is no longer available, the family of producer price indexes provides a close counterpart in the Finished Goods Price Index.

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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.

     See also | money creation | money creation, the process | bank balance sheet | goldsmith banking | goldsmith money creation | deposit expansion multiplier | money multiplier | seigniorage | banks | banking | money | fractional-reserve banking | bank reserves | required reserves | excess reserves | checkable deposits | monetary economics | liquidity | financial markets | commodity money | fiat money | value in use | value in exchange | production | Federal Reserve System | central bank | monetary policy | bank panic | bank run | monetary aggregates |


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CONCENTRATION RATIOS

A family of measures of the proportion of total output in an industry that is produced by a given number of the largest firms in the industry. The two most common concentration ratios are for the four largest firms and the eight largest firms. The four-firm concentration ratio is the proportion of total output produced by the four largest firms in the industry and the eight-firm concentration ratio is proportion of total output produced by the eight largest firms in the industry. Concentration ratios are commonly used to indicate the degree to which an industry is oligopolistic and the extent of market control of the largest firms in the industry. A related measure is the Herfindahl index.

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Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a handcrafted bird feeder or a New York Yankees baseball cap. Be on the lookout for infected paper cuts.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
"The greatest things ever done on Earth have been done little by little. "

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