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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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STATISTICAL DISCREPANCY The official adjustment factor in the National Income and Product Accounts that ensures equality between the income and expenditures approaches to measuring gross domestic product. This is one of several differences between national income (the resource cost of production) and gross (and net) domestic product (the market value of production). It is also the key difference between gross domestic income and gross domestic product. This statistical discrepancy tends to be relatively small, usually less than 1 percent of gross domestic product.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers wanting to buy either a New York Yankees baseball cap or several magazines on home repairs. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"After climbing a great hill, one finds many more hills to climb. " -- Nelson Mandela, president of South Africa
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BJE
Bell Journal of Economics
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