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OMO: The abbreviation for open market operations, which is 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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VERIFICATION The hypothesis-testing step of the scientific method in which the hypothesized implication of a theory is compared against real world events and data. This verification can provide support or refutation of the hypothesis. Enough support enables a hypothesis to become a principle. Refutation calls into question the theory implying the hypothesis. In either event, further analysis is indicated.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall hoping to buy either a T-shirt commemorating yesterday or a pair of handcrafted oven mitts. Be on the lookout for slow moving vehicles with darkened windows.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"He who truly knows has no occasion to shout. " -- Leonardo da Vinci, painter, sculptor, architect, engineer
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GDP
Gross Domestic Product
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