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GATT: The abbreviation for the General Agreement on Tariffs and Trade. A treaty, signed in 1947 by 23 countries including the United States, that was designed to reduce trade barriers. It now carries the signatures of about 100 countries and over the years has been pretty darn effective in reducing tariffs, eliminating some import quotas, and promoting commerce.
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LEGAL RESERVES The combination of vault cash and Federal Reserve deposits that banks can legally use to satisfy government reserve requirements. Legal reserves, which can also be considered total reserves, are divided between require reserves and excess reserves. Required reserves are used to back up deposits and process daily transactions, while excess reserves are then available for interest-paying loans.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale seeking to buy either storage boxes for your family photos or a large, stuffed giraffe. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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This isn't me! What am I?
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"My philosophy of life is that if we make up our mind what we are going to make of our lives, then work hard toward that goal, we never lose - somehow we win out." -- President Ronald Reagan
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LISH
last In Still Here
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