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DEPOSIT: A bank account maintained by a bank on behalf of a customer. In a fractional-reserve banking system, one of the primary functions of a bank is to keep customer deposits safe. Banks offer a wide range of deposits, including checkable (or transactions) deposits, savings deposits, certificates of deposit, and money market accounts. Such deposits represent a sizable portion of the M1 money supply and as well as broader monetary aggregates -- M2 and M3. They also constitute the bulk of the liabilities of a typically bank.

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Lesson 18: Banking | Unit 3: Reserve Banking Page: 15 of 24

Topic: Goldsmith Loans <=PAGE BACK | PAGE NEXT=>

The story continues when Elizabeth the Innkeeper needs to expand her business and ask Fred for a loan.

The story:

  • Elizabeth's business is booming, but she is temporarily short of money, short of gold.
  • She asks Fred for a loan of gold that belongs to Bill the Knight that Fred keeps on his safe.
  • Elizabeth is willing to pay Fred a sizable fee for taking the risk of making this loan.
  • Fred makes the loan.
  • Elizabeth expands her inn, she repays the loan on schedule with interest with profit from business.
  • Bill collects his gold upon returning.
  • Other local merchants soon seek interest lending services from Fred.

Fred has discovered the lending function of modern banks.


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RATIONING

The distribution or allocation of a limited commodity, usually accomplished based on a standard or criterion. The two primary methods of rationing are markets and governments. Rationing is needed due to the scarcity problem. Because wants and needs are unlimited, but resources are limited, available commodities must be rationed out to competing uses.

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APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club wanting to buy either a decorative windchime with plastic or a flower arrangement for that special day for your mother. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?

General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
"I can feel guilty about the past, apprehensive about the future, but only in the present can I act."

-- Abraham Maslow, Psychologist

ARMA
Autoregressive Moving Average
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