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SCAB: Someone who starts working or continues to work for a firm while a labor union is engaged in a strike of the firm. Scab is common term used by union members for the more polite name strikebreaker. Striking union members are more inclined to use even more derogatory terms. Such workers are used by employers to force union members to stop their strike and return to work. While strikers don't like it, labor laws guarantee that nonstriking workers can cross the picket line and go to work.
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MONEY CREATION, THE PROCESS The process in which the banking system creates checkable deposits by lending excess reserves. The total amount of checkable deposits (and money) created by the banking system depends on the amount of excess reserves available and the reserve requirement ratio specifying the reserves needed to back up deposits. The money creation process is the movement of reserves from bank to bank, with each bank using excess reserves to make loans (and checkable deposits), then keeping a fraction of the reserves to back up newly created deposits. The deposit expansion multiplier captures the money creation process, indicating the amount of checkable deposits created if the banking reserve acquires a given amount of excess reserves.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time at a going out of business sale seeking to buy either a revolving spice rack or a how-to book on home repairs. Be on the lookout for celebrities who speak directly to you through your television.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"Concentration is the secret of strength in politics, in war, in trade, in short in all management of human affairs. " -- Ralph Waldo Emerson, philosopher, poet
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AER
American Economic Review
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