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LONG-RUN INDUSTRY SUPPLY CURVE: The relation between market price and the quantity supplied by all firms in a perfectly competitive industry after the industry as completed its long-run adjustment. The long-run industry supply curve effectively traces out a series of equilibrium prices and quantities the reflect long-run adjustments of a perfectly competitive industry to demand shocks. This long-run adjustment can take one of three paths: increasing, decreasing, and constant. These three adjustment paths indicate an increasing-cost industry, decreasing-cost industry, and constant-cost industry, respectively.
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FEDERAL RESERVE DEPOSITS Deposits that commercial banks keep with the Federal Reserve System. Federal Reserve deposits play three key roles in the banking system. One, they are used by the Federal Reserve system to process or clear checks. Two, they are loaned between commercial banks through the Federal funds market. Three, they are used by the Federal Reserve System to control the money supply. Federal Reserve deposits are one of two types of bank assets that are considered bank reserves and used to satisfy reserve requirements. The other is vault cash.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store wanting to buy either a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or decorative garden figurines. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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In the early 1900s around 300 automobile companies operated in the United States.
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"When we do the best we can, we never know what miracle is wrought in our life or in the life of another. " -- Helen Keller, lecturer, author
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OECD
Organization for Economic Co-operation and Development
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