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SEVERANCE TAX: A tax on the value of raw materials, such as minerals and fossil fuels, when they are extracted from the environment. This is one of those hidden, unpublicized taxes on producers that is ultimately passed along consumers.
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Lesson 19: Money Creation | Unit 3: Modern Banking
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Page: 13 of 23
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Topic:
Yet Another Bank
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- A purchase is made with a check written on Bob's State Bank, which is deposited in Charley's Credit Union.
- Charley's Credit Union adds $81 worth of liabilities to the store's account.
- This liability is balanced with reserves transferred from Bob's Bank.
- Bob's Bank losses $81 and Charley's Credit Union gains $81 of reserves.
- Bob's Bank ends up with $9 of reserves and an $81 loan.
- Charley's Credit Union has $81 in reserves. It keeps 10% ($8.10), giving it $71.90 of excess reserves.
- Charley's Credit Union makes a $71.90 loan to a customer.
- This creates $71.90 of money. The three banks have created $242.90 worth of money.
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PROPRIETORS' INCOME The official factor payment item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring the combined payments for all four factors of production used in owner-operated business firms. Specifically, proprietors' income is the excess of revenue over explicit production cost of owner-operated businesses and includes payments for labor, capital, land, and entrepreneurship. This is one of five official factor payments making up national income. The other four are compensation of employees, rental income of persons, net interest, and corporate profits. Proprietors' income is usually less than 10 percent of national income, typically in the 7 to 10 percent range.
Complete Entry | Visit the WEB*pedia |
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either arch supports for your shoes or an AC adapter that works with your MPG player. Be on the lookout for vindictive digital clocks with revenge on their minds.
Your Complete Scope
This isn't me! What am I?
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"Courage is the ladder on which all the other virtues mount." -- Claire Boothe Luce, diplomat, writer
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ARCH
Autoregressive Conditional Heteroskedasticity
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