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October 17, 2018 

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AMEX: The common abbreviation for the American Stock Exchange, which is one of three national stock markets in the United States (see National Association of Securities Dealers and New York Stock Exchange) that trade ownership shares in corporations. In terms of daily stock transactions and the number of stocks listed, the American Stock Exchange is the smallest of these three. However, it's composite index of stock prices -- AMEX is considered important enough to be flashed briefly on the nightly news.

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Lesson 20: Federal Reserve System | Unit 4: Monetary Policy Page: 16 of 20

Topic: Reserve Requirements <=PAGE BACK | PAGE NEXT=>

Reserve requirements are the regulations the Fed uses to ensure banks keep enough reserves to back deposits.
  • In principle, reserve requirements can be used to control the money supply. In practice, reserve requirement changes would cause serious bank instability.
  • The Federal Reserve System is charged with ensuring that banks keep enough reserves, through legal reserve requirements.
  • Reserve requirements change over the years, keeping pace with the changing structure of the banking system.
  • They are currently in the 1% to 3% for checkable deposits. These are the reserves that banks use to cash checks, process checks, and conduct daily business.

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OPEN ECONOMY

An economy that engages in international trade, especially one that exports goods and services to, and imports goods and services from, other economies that make up its foreign sector. It is "open" in the sense that goods and services flow into and out of the country. The alternative to an open economy is a closed economy, one that does not engage in international trade.

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BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time lost in your local discount super center hoping to buy either clothing for your kitty cats or a set of luggage without wheels. Be on the lookout for slow moving vehicles with darkened windows.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
"Do what you feel in your heart to be right for you'll be criticized anyway. You'll be damned if you do and damned if you don't. "

-- Eleanor Roosevelt, first lady

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Electronic Funds Transfer
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