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LEGAL RESERVES: The total amount of vault cash or Federal Reserve deposits of a bank. These are the only bank assets that can be used legally to satisfy reserve requirements.

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SLOPE, SHORT-RUN AGGREGATE SUPPLY CURVE

The positive slope of the short-run aggregate supply curve, reflecting the direct relation between the price level and real production, results for three primary reasons--inflexible resources, frictional and structural unemployment, and purchasing power imbalances.

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Today, you are likely to spend a great deal of time at the confiscated property police auction seeking to buy either a small, foam rubber football or an instructional DVD on learning to the play the oboe. Be on the lookout for strangers with large satchels of used undergarments.
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The average bank teller loses about $250 every year.
"Success is going from failure to failure without a loss of enthusiasm. "

-- Winston Churchill, British statesman

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