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OPEN MARKET OPERATIONS: The Federal Reserve System's buying and selling of government securities in an effort to alter bank reserves and subsequently the nation's money supply. These actions, under the direction of the Federal Open Market Committee, are the Fed's number one, most effective, most often used tool of monetary policy. If, for example, the Fed wants to increase the money supply (termed easy money) it buy's government securities. If the Fed chooses to reduce the money supply (called tight money) it sells some government securities.
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LIMITED RESOURCES A basic condition of nature which means that the quantities of available labor, capital, land and entrepreneurship used for the production of goods and services are finite. It means that the economy has only so many resources that can be used AT ANY GIVEN TIME time to produce goods and services. Limited resources are one half of the fundamental problem of scarcity that has plagued humanity since the beginning of time. The other half of the scarcity problem is unlimited wants and needs.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius hoping to buy either a half-dozen helium filled balloons or a packet of address labels large enough for addresses of both the sender and the recipient. Be on the lookout for attractive cable television service repair people.
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This isn't me! What am I?
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The average bank teller loses about $250 every year.
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"It is not the mountain we conquer, but ourselves. " -- Sir Edmund Hillary, Explorer
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AEC
Annual Equivalent Costs
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