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SELLERS' MARKET: A disequilibrium condition in a competitive market that has a shortage, such that sellers are able to force the price up. Note that a sellers' market does not mean that the lack of competition among demanders have given sellers market control. A sellers' market is a competitive market that is faced with a temporary imbalance between the quantity supplied by the sellers and the quantity demanded by the buyers.
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EXCESS RESERVES The reserves (vault cash and Federal Reserve deposits) that banks have over and above what they are required by government to keep to back up deposits. The primary use of excess reserves, also termed free reserves, is for loans to consumers and businesses. Because reserves do not generate interest, revenue, or profit, banks are inclined to keep as few excess reserves as possible.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs trying to buy either a large green chalkboard shaped like the state of Maine or a replacement battery for your pocket calculator. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"The true idealist pursues what his heart says is right in a way that his head says will work. " -- Richard Nixon, 37th US president
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DARA
Decreasing Absolute Risk Aversion
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