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RELATIVE POVERTY LEVEL: The amount of income a person or family needs to purchase a relative amount of basic necessities of life. These basic necessities are identified relative to the current structure of society and the economy. For example, while a refrigerator would be a basic necessity for someone living in the our modern U.S. economy, it probably would not be consider a necessity for nomads of sub-Saharan Africa or aborigines of Australia.
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VAULT CASH Paper bills and metal coins kept in bank vaults or elsewhere in banks (such as teller drawers). Vault cash is used, quite literally, to "cash" checks and otherwise to satisfy currency withdrawal demands of the depositors. Because vault cash is in the possession of banks and not the nonbank public, it is not considered as "money in circulation" and is not part of the official M1 money supply. Vault cash is one of two types of bank assets that are considered reserves and used to satisfy reserve requirements. The other is Federal Reserve deposits.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Success without honor is an unseasoned dish; it will satisfy your hunger, but it won't taste good. " -- Joe Paterno, Football coach
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JV
Joint Venture
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