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MARKET EFFICIENCY: The notion that a competitive market automatically achieves an efficient allocation of resources by equating demand price with supply price and quantity demanded with quantity supplied. Market efficiency relies on the self-correction process that eliminates shortages or surpluses. It also presumes that the market is competitive and is not subject to assorted market failures.
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MONEY MULTIPLIER The ratio of the change in money to the change in bank reserves. The money multiplier indicates the magnified change in money (checkable deposits and currency) that results from an injection of additional reserves into the banking system. As the name suggests, the change in money is typically a multiple of the initial change in bank reserves. The deposit expansion multiplier also forms the core of the money multiplier, both of which depend on the reserve requirement ratio.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for infected paper cuts.
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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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"Things turn out best for the people who make the best of the way things turn out." -- Art Linkletter
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LIFO
Last In First Out
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