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REAL PRODUCTION: The market value of all production measured in constant prices, after adjusting for inflation. Real production is typically measured with real GDP.
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OPEN MARKET OPERATIONS The buying and selling of U.S. Treasury securities by the Federal Reserve System (the Fed) as a means of a controlling the money supply. An increase in the money supply is achieved when the Fed buys securities. A decrease in the money supply is achieved when the Fed sells securities. The Federal Open Market Committee is the specific component of the Federal Reserve System that is charged with open market operations. Open market operations are the most important of the three monetary policy tools that the Fed can use, in principle, to control the money supply. The other two are the discount rate and reserve requirements.
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Collecting WELFAREI know word travels quickly among pedestrians of Shady Valley, but perhaps you haven't heard the latest. Pollyana Pumpernickel, the proprietor of Pollyana's Pet Palace, is no longer a pet proprietor. She's fallen on hard times, and fallen quite hard. Her husband of twelve years, Paul Pumpernickel has dumped her and their three young children to pursue insurance alternatives with Tricia Comer -- Smilin' Ted's sister and business partner in the All Comers Insurance Agency. Pollyana is distraught, to say the least. Paul Pumpernickel had been the dutiful househusband and caring father in his marriage partnership with Pollyana, but those duties fell onto the heavily burdened shoulders of Pollyana. The burden was too much. Pollyana's Pet Palace plundered into oblivion, leaving Pollyana penniless and jobless. Her only alternative was our government's public assistance program -- what you and I know as welfare. She's not pleased with her current social status, and neither, apparently is Winston Smythe Kennsington III, who ridicules poor Pollyana at every opportunity.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale hoping to buy either super soft, super cuddly, stuffed animals or a large stuffed brown and white teddy bear. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"As is our confidence, so is our capacity. " -- William Hazlitt, essayist
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CBI
Confederation of British Industry
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