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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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AVERAGE PRODUCT AND MARGINAL PRODUCT

A mathematical connection between average product and marginal product stating that the change in the average product depends on a comparison between the average product and marginal product. If marginal product is less than average product, then average product declines. If marginal product is greater than average product, then average product rises. If marginal product is equal to average product, then average product does not change.

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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either a key chain with a built-in flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for malfunctioning pocket calculators.
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A half gallon milk jug holds about $50 in pennies.
"A stumble may prevent a fall. "

-- Margaret Thatcher, British prime minister

NAV
Net Asset Value
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