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FEDERAL RESERVE BANK: One of 37 Banks (12 District and 25 Branch) that comprise the Federal Reserve System. These Banks are largely responsible for supervising, regulating, and interacting with commercial banks and carrying out the policies established by the Federal Reserve Board of Governors. The large number of banks, spread across the country is what helps make the Federal Reserve System a very decentralized central bank.
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LONG-RUN AVERAGE COST The per unit cost of producing a good or service in the long run when all inputs under the control of the firm are variable. In other words, long-run total cost divided by the quantity of output produced. Long-run average cost is guided by returns to scale.
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"Be a yardstick of quality. Some people aren't used to an environment where excellence is expected. " -- Steve Jobs, Apple Computer co-founder
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SSRN
Social Science Research Network
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