Google
Tuesday 
January 23, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
BOARD OF GOVERNORS, CHAIRMAN: The head of the Federal Reserve Board of Governors and the Federal Reserve System. This is the guy in charge of monetary policy and is considered to be one of the two or three most powerful people in terms of the national and global economy. The Chairman is one of the seven members of the Board and serves as Chairman for a five-year term. The Fed Chairman also serves as Chairman of the powerful Federal Open Market Committee, the Fed Committee that sets the course of monetary policy.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 18: Banking | Unit 3: Reserve Banking Page: 13 of 24

Topic: Goldsmith <=PAGE BACK | PAGE NEXT=>

Banking sort of evolved from the goldsmithing profession.

Setting the stage of the story:

  • It takes place at a time and a place when gold is the economy's commodity money: Medieval Europe.
  • Fred is a goldsmith, a craftsman who fashions products from gold.

Fred:

  • Fred's raw material is also the economy's money.
  • Gold input is valuable in use for what Fred creates and also valuable as the medium of exchange.
  • Fred must keep his raw material safe and secure.
  • Fred has a safe.

Course Home | Lesson Menu | Page Back | Page Next

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.

Complete Entry | Visit the WEB*pedia


APLS

BLACK DISMALAPOD
[What's This?]

Today, you are likely to spend a great deal of time wandering around the shopping mall looking to buy either a video camera with stop action features or one of those memory foam pillows. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
Your Complete Scope

This isn't me! What am I?

Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
"Lead the life that will make you kindly and friendly to everyone about you, and you will be surprised what a happy life you will lead."

-- Charles M. Schwab

EGARCH
Exponential Generalized Autoregressive Conditional Heteroskedasticity
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2018 AmosWEB*LLC
Send comments or questions to: WebMaster