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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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TOTAL REVENUE CURVE, PERFECT COMPETITION

A curve that graphically represents the relation between the total revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. It is combined with a perfectly competitive firm's total cost curve to determine economic profit and the profit maximizing level of production. The slope of the total revenue curve is marginal revenue.

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APLS

BLACK DISMALAPOD
[What's This?]

Today, you are likely to spend a great deal of time lost in your local discount super center wanting to buy either a coffee cup commemorating last Friday (you know why) or a wall poster commemorating the first day of spring. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?

John Maynard Keynes was born the same year Karl Marx died.
"Man is born to live, not to prepare for life. "

-- Boris Pasternak, writer

ACIR
Advisory Council on Intergovernmental Relations
A PEDestrian's Guide
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