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October 15, 2018 

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FEDERAL RESERVE BANK: One of 37 Banks (12 District and 25 Branch) that comprise the Federal Reserve System. These Banks are largely responsible for supervising, regulating, and interacting with commercial banks and carrying out the policies established by the Federal Reserve Board of Governors. The large number of banks, spread across the country is what helps make the Federal Reserve System a very decentralized central bank.

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INVESTMENT BANKING: The process of wholesaling newly issued government securities, corporate stocks, bonds, and similar financial assets by purchasing large blocks and reselling them in smaller units to the public. In essence, investment banks "underwrite" stocks and bonds when they're first issued by guaranteeing to sell them at a pre-set price.

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FALLACY OF COMPOSITION

The logical fallacy of arguing that what is true for the parts is also true for the whole. In the study of economics, this takes the form of assuming that what works for parts of the economy, such as households or businesses, also works for the aggregate, or macroeconomy. The contrasting fallacy is the fallacy of division.

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GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time watching the shopping channel looking to buy either a three-hole paper punch or decorative picture frames. Be on the lookout for door-to-door salesmen.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
"Give the American people a good cause, and there's nothing they can't lick. "

-- John Wayne, actor

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