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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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COST An alternative term for economic or opportunity cost, which is the highest valued alternative foregone in the pursuit of an activity. Opportunity cost is one of the most fundamental concepts used in the study of economics, hence when the term cost is used in the study of economics without modification, it usually means economic or opportunity cost.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet hoping to buy either a large stuffed brown and white teddy bear or a replacement washer for your kitchen faucet. Be on the lookout for fairy dust that tastes like salt.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"When the solution is simple, God is answering." -- Albert Einstein
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LRAC
Long Run Average Cost
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