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June 14, 2025 

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LEGAL RESERVES: The total amount of vault cash or Federal Reserve deposits of a bank. These are the only bank assets that can be used legally to satisfy reserve requirements.

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POLITICAL BUSINESS CYCLE: The notion that a business cycle is caused by elected government leaders who manipulate the economy to achieve personal political goals -- that is, to remain in office. The leaders stimulate the economy leading up to an election, creating a business-cycle expansion that ensures (they hope) their re-election, then induce a business-cycle contraction after the election to correct problems created by pre-election stimulation.

     See also | business cycle | investment | expansion | contraction | peak | trough | shortage | surplus | unemployment | inflation | fiscal policy | monetary policy | stabilization policies | investment business cycle | circular flow | balanced budget | money supply rule |


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POLITICAL BUSINESS CYCLE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: June 14, 2025].


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COMPETITION

In general, the actions of two or more rivals in pursuit of the same objective. In an economic context, the specific objective pursued is usually either selling goods to buyers or buying goods from sellers.

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BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time at a garage sale looking to buy either a lazy Susan for you dining room table or a set of serrated steak knives, with durable plastic handles. Be on the lookout for deranged pelicans.
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This isn't me! What am I?

The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
"We should never allow ourselves to be bullied by an either-or. There is often the possibility of something better than either of those two alternatives. "

-- Mary Parker Follett, management coach

PDV
Present Discounted Value
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