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INDUCED: The general notion that changes in one variable are related to, or caused by, changes in another variable. Induced relations, especially changes in consumption expenditures are induced by changes in disposable income, are a key aspect of Keynesian economics and the multiplier effect. The alternative to an induced relation between variables is an autonomous relation, in which one variable is not related to another.
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Lesson 18: Banking | Unit 3: Reserve Banking
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Page: 17 of 24
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- The concept of fractional-reserve banking, which implies that deposits are used for loans and that banks must keep reserves to back deposits.
- The three types of reserves:
- Legal reserves, which are vault cash and deposits with the Federal Reserve.
- Required reserves, which are the vault cash and deposits with the Federal Reserve that regulators say a bank must keep for daily transactions.
- Excess reserves, which are any legal reserves over and above required reserves.
- That banking sort of evolved from the goldsmithing profession.
- How Fred stumbled upon the depository function of modern banks.
- How Fred discovered the lending function of modern banks.
- How Fred discovered modern fractional-reserve banking.
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IMPLEMENTATION LAG The time lag that occurs after a government policy designed to correct an economic problem has been selected and the actual execution of the policy. The implementation lag is based the time it takes for government agencies, which can be slow and methodical, to carry out the designated policy. This "inside lag" is one of four policy lags associated with monetary and fiscal policy. The other two "inside lags" are recognition lag and decision lag, and one "outside lag" is implementation lag. All four policy lags can reduce the effectiveness of business-cycle stabilization policies and can even destabilize the economy.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales seeking to buy either a computer that can play video games and burn DVDs or a black duffle bag with velcro closures. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"Perhaps the most valuable result of all education is the ability to make yourself do the thing you have to do, when it ought to be done, whether you like it or not; it is the first lesson that ought to be learned; and however early a man's training begins, it is probably the last lesson that he learns thoroughly. " -- Thomas H. Huxley, Scientist
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R&D
Research and Development
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