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RESERVES: The vault cash and deposits at the Federal Reserve System that banks use to complete day-to-day transactions.
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POSITIVE ECONOMICS The branch of economics that seeks to explain the way the economy actually operates. It is the application of the scientific method and the process of testing hypothesis to economic phenomena. A positive economic statement is one that can be refuted by looking at the real world--that is, by testing a hypothesis.
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Lombard Street is London's equivalent of New York's Wall Street.
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"Believe one who has tried it. " -- Virgil, Roman poet
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Bank Note
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