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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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AVERAGE FACTOR COST CURVE A curve that graphically represents the relation between average factor cost incurred by a firm for employing an input and the quantity of input used. Because average factor cost is essentially the price of the input, the average factor cost curve is also the supply curve for the input. The average factor cost curve for a firm with no market control is horizontal. The average revenue curve for a firm with market control is positively sloped.
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Lombard Street is London's equivalent of New York's Wall Street.
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"One person with a belief is equal to a force of ninety-nine with only interests." -- John Stuart Mill
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MLE
Maximum Likelihood Estimator
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