NATIONAL BANKS: Traditional banks that are chartered by the Comptroller of the Currency and are automatically members of the Federal Reserve System. The contrast to national banks are state banks, which are chartered by one of the fifty states. National banks tend to larger than state banks and whether justified or not tend to be slightly more prestigious. In the modern economy this distinction is less important than it was a few decades bank when state banks were subject to lesser state regulations than national banks.

     See also | banking | state banks | fractional-reserve banking | bank reserves | traditional banks | savings and loan associations | credit unions | mutual savings banks | thrift institutions |

NATIONAL BANKS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: January 21, 2019].

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The relative response of a change in demand to a change in income. More specifically the income elasticity of demand is the percentage change in demand due to a percentage change in buyers' income. This notion of elasticity captures the buyers' income demand determinant. Three other notable elasticities are the price elasticity of demand, the price elasticity of supply, and the cross elasticity of demand.

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