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LEGAL RESERVES: The total amount of vault cash or Federal Reserve deposits of a bank. These are the only bank assets that can be used legally to satisfy reserve requirements.
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ALLOCATION The process of distributing resources for the production of goods and services, and of distributing goods and services for the satisfaction of wants and needs and human consumption. This allocation process is an essential part of an economy's effort to address the problem of scarcity.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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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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WPO
Weakly Pareto Optimal
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