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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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BALANCE OF TRADE DEFICIT The negative difference of the value of goods and services exported out of a country less the value of goods and services imported into the country. A balance of trade deficit is the official term for negative net exports that occurs when imports exceed exports. A balance of trade deficit is also termed an "unfavorable" balance of trade because it results in a net outflow of monetary payments from the domestic economic to the foreign sector, which tends to be bad for a country. The alternative is a balance of trade surplus in which exports exceed imports.
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PINK FADFLY [What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale hoping to buy either a handcrafted bird feeder or a New York Yankees baseball cap. Be on the lookout for the happiest person in the room. Your Complete Scope
This isn't me! What am I?
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Lombard Street is London's equivalent of New York's Wall Street.
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"Lord, where we are wrong, make us willing to change; where we are right, make us easy to live with. " -- Peter Marshall, US Senate chaplain
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RGDP Real Gross Domestic Product
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