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IMPORT: Goods and services produced by the foreign sector and purchased by the domestic economy. In other words, imports are goods purchased from other countries. The United States, for example, buys a lot of the stuff produced within the boundaries of other countries, including bananas, coffee, cars, chocolate, computers, and, well, a lot of other products. Imports, together with exports, are the essence of foreign trade--goods and services that are traded among the citizens of different nations. Imports and exports are frequently combined into a single term, net exports (exports minus imports).
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FEDERAL FUNDS A common term for Federal Reserve deposits held by commercial banks, especially when these deposits are loaned between banks through the Federal funds market. The interest rate charged for these interbank loans is termed the Federal funds rate. Federal funds are used by individual banks to meet reserve requirements and the total held by the banking system is manipulated by the Federal Reserve System in the conduct of monetary policy.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale hoping to buy either a T-shirt commemorating next Thursday or a birthday gift for your uncle. Be on the lookout for slightly overweight pizza delivery guys.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"And while the law of competition may be sometimes hard for the individual, it is best for the race, because it ensures the survival of the fittest in every department. " -- Andrew Carnegie, entrepreneur
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IO
Industrial Organization
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