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VAULT CASH: Paper currency and metal coins possessed by a commercial bank, either stored in the actual bank vault or temporarily resting teller drawers. Vault cash is primarily used to facilitate daily bank transactions (that is, cashing checks), and together with Federal Reserve deposits make up legal bank reserves.

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COMPENSATION OF EMPLOYEES: The official item in the National Income and Product Accounts maintained by the Bureau of Economic Analysis measuring wages earned by the household sector for supplying labor services. This is one of five official factor payments making up national income. The other four are net interest, rental income of persons, corporate profits, and proprietors' income. Compensation of employees is far and away the largest of the five factor payments, typically running about 70% of national income.

     See also | wage | labor | household sector | National Income and Product Accounts | Bureau of Economic Analysis | factor payments | national income | net interest | rental income of persons | corporate profits | proprietors' income |


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COMPENSATION OF EMPLOYEES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: April 25, 2018].


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ASSUMPTIONS, CLASSICAL ECONOMICS

Classical economics, especially as directed toward macroeconomics, relies on three key assumptions--flexible prices, Say's law, and saving-investment equality. Flexible prices ensure that markets adjust to equilibrium and eliminate shortages and surpluses. Say's law states that supply creates its own demand and means that enough income is generated by production to purchase the resulting production. The saving-investment equality ensures that any income leaked from consumption into saving is replaced by an equal amount of investment. Although of questionable realism, these three assumptions imply that the economy would operate at full employment.

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Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for mail order catalogs with hidden messages.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
"The greatest things ever done on Earth have been done little by little. "

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