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HISTORICAL COST: An accounting principle stating that expenses are recorded in terms of original or acquisition cost. Such a practice does not necessarily indicate the opportunity cost or current market value.

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BANK RESERVES

Assets used by banks to back up deposits and to conduct daily transactions, including withdrawing funds, "cashing" checks, and transferring funds between banks to "clear" checks. Reserves, also termed bank reserves or legal reserves, includes two types of assets: vault cash and Federal Reserve deposits. These legal reserves are then divided between require reserves and excess reserves. Required reserves are used to back up deposits and excess reserves are used for loans.

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APLS

GREEN LOGIGUIN
[What's This?]

Today, you are likely to spend a great deal of time at a flea market trying to buy either a handcrafted bird feeder or a New York Yankees baseball cap. Be on the lookout for cardboard boxes.
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This isn't me! What am I?

It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
"Posterity: you will never know how much it has cost my generation to preserve your freedom. I hope you will make good use of it. "

-- John Quincy Adams, 6th U. S. president

JRE
Journal of Regulatory Economics
A PEDestrian's Guide
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