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RESERVES: The vault cash and deposits at the Federal Reserve System that banks use to complete day-to-day transactions.

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SEIGNIORAGE

The difference between the face value, or value in exchange, of money and the cost of producing the money. This seigniorage is effectively the profit government generates from producing currency--printing paper bills or minting metal coins. That is, government effectively "makes money" by making money.

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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway trying to buy either a rechargeable battery for your cell phone or a T-shirt commemorating the 2000 Olympics. Be on the lookout for deranged pelicans.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
"When one door closes another door opens; but we do often look so long and so regretfully upon the closed door, that we do not see the ones which open for us. "

-- Alexander Graham Bell, inventor

NDP
Net Domestic Product
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