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September 19, 2021 

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IMPORT SUBSTITUTION: A strategy for economic development for a country based on replacing imported goods with domestic production. This is often directed toward imported inputs used for domestic production. The goal of this policy is to encourage domestic production, which subsequently increases domestic income and consumption. A contrasting economic development is export promotion.

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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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SURVEY WEEK, CURRENT POPULATION SURVEY

The calendar week (Sunday through Saturday) containing the 19th day of the month that is used to conduct the Current Population Survey (CPS). This is the time period in which CPS interviews contact occupants of 60,000 households included in the survey. The survey questions posed by the interviewers then refer to the employment activities of the respondents during the previous calendar week, which is the termed the reference week. The activities of survey respondents during the reference week are the source of information used to estimate the unemployment rate and other employment information generated by the CPS.

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APLS

ORANGE REBELOON
[What's This?]

Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for defective microphones.
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This isn't me! What am I?

A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
"When you play, play hard; when you work, don't play at all. "

-- Theodore Roosevelt, 26th US president

EMS
European Monetary System
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