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X: The standard abbreviation for exports produced by the foreign sector and purchased by the domestic economy, especially when used in the study of macroeconomics. This abbreviation is most often seen in the aggregate expenditure equation, AE = C + I + G + (X - M), where C, I, G, and (X - M) represent expenditures by the four macroeconomic sectors, household, business, government, and foreign. The United States, for example, sells a lot of the stuff produced within our boundaries to other countries, including wheat, beef, cars, furniture, and, well, almost every variety of product you care to name.
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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.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction wanting to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for poorly written technical manuals.
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
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"A successful man is one who can lay a firm foundation with the bricks others have thrown at him. " -- David Brinkley, newsman
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CHIPS
Clearing House Interbank Payments Systems (US)
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