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NIRA: The common abbreviation for the National Industrial Recovery Act, which was one of the first acts passed under New Deal program the Roosevelt administration in 1933. The NIRA specifically allowed workers to organized into unions and to engage in collective bargaining without interference from firms. This act was declared unconstitutional in 1935, but while in force gave a big boost to labor unions and membership. The National Labor Relations Act was created in 1935 to replace the NIRA.
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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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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs looking to buy either a pair of red and purple designer socks or a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for slightly overweight pizza delivery guys.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"Time is the scarcest resource, and unless it is managed nothing else can be managed." -- Peter F. Drucker
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CCC
Commodity Credit Corporation (US)
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