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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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TAX EFFECTS The primary reason that governments collect taxes from members of society is to finance government operations and provide public goods. However, taxes also create disincentives to engage in the taxed activity, which causes a change in the allocation of resources. This two consequences of taxes are summarized in two essential tax effects -- the revenue effect and the allocation effect. While all taxes have both, the key to effective government is minimize the allocation effect if the goal is to generate revenue and to minimize the revenue effect if the goal is to change the allocation of resources.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at an auction seeking to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for slightly overweight pizza delivery guys.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"Do not wait; the time will never be just right " -- Napoleon Hill, author
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AIBD
Association of International Bond Dealers (now called International Securities Market Association)
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