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FEDERAL RESERVE DISTRICT BANK: One of 12 Federal Reserve Banks, each in charge of banking activity within its Federal Reserve District. The 12 Districts are centered in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Mineapolis, Kansas City, Dallas, and San Francisco. Presidents from 5 of these 12 Banks serve on the powerful Federal Open Market Committee that conducts monetary policy.
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AVERAGE FACTOR COST Total factor cost per unit of factor input employed by a firm in the production of output, found by dividing total factor cost by the quantity of factor input. Average factor cost, abbreviated AFC, is generally equal to the factor price. However, using the longer term average factor cost makes it easier to see the connection to related terms, including total factor cost and marginal factor cost.
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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"People of mediocre ability sometimes achieve outstanding success because they don't know when to quit. Most men succeed because they are determined to. " -- George Allen, U.S. senator
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EOE
European Options Exchange
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