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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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LAW OF INCREASING OPPORTUNITY COST

The proposition that opportunity cost, the value of foregone production, increases as the quantity of a good produced increases. This fundamental economic principles can be seen in the production possibilities schedule and is illustrated graphically through the slope of the production possibilities curve. It generates a distinctive convex shape, flat at the top and steep at the bottom.

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WHITE GULLIBON
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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either a genuine down-filled comforter or a 200-foot blue garden hose. Be on the lookout for pencil sharpeners with an attitude.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
"The past cannot be changed. The future is yet in your power. "

-- Hugh White, U.S. Senator

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Current Population Survey (US)
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