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DEPOSIT MULTIPLIER: The magnified change in checkable deposits resulting from a change in bank reserves. The simple deposit multiplier is the inverse of the required-reserves ratio. If banks keep 10 percent of their deposits in reserves, then the deposit multiplier is the inverse of 10 percent, or 10.
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RISK AVERSION A preference for risk in which a person prefers guaranteed or certain income over risky income. Risk aversion arises due to decreasing marginal utility of income. A risk averse person prefers to avoid risk and is willing to pay to do so, often through the purchase of insurance. This is one of three risk preferences. The other two are risk neutrality and risk loving.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time at a crowded estate auction seeking to buy either a coffee cup commemorating the 2000 Olympics or a birthday gift for your grandmother. Be on the lookout for the happiest person in the room.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"People of mediocre ability sometimes achieve outstanding success because they don't know when to quit. Most men succeed because they are determined to. " -- George Allen, U.S. senator
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GDI
Gross Domestic Income
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