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NORMATIVE ECONOMICS: The branch of economics that states the way the economy should operate. A normative statement is based on values and can be proved neither right or wrong. While positive economics seeks to explain the way it is, normative economics, the policy side of economics, seeks to prescribe the way it should be. Normative economics is used to recommend ways to change the world, to improve it, and to make it a better place for both man and beast.
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FEDERAL RESERVE DEPOSITS Deposits that commercial banks keep with the Federal Reserve System. Federal Reserve deposits play three key roles in the banking system. One, they are used by the Federal Reserve system to process or clear checks. Two, they are loaned between commercial banks through the Federal funds market. Three, they are used by the Federal Reserve System to control the money supply. Federal Reserve deposits are one of two types of bank assets that are considered bank reserves and used to satisfy reserve requirements. The other is vault cash.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time at a going out of business sale hoping to buy either a hepa filter for your furnace or a wall poster commemorating next Thursday. Be on the lookout for small children selling products door-to-door.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"I was always looking outside myself for strength and confidence, but it comes from within. It is there all the time. " -- Anna Freud, psychologist
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NEDO
National Economic Development Office
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