March 17, 2018 

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WORLD TRADE ORGANIZATION: An international organization that oversees multilateral trade among nations. The World Trade Organization, or WTO, was established in 1995 by the Uruguay round of trade negotiations to replace the General Agreement on Tariffs and Trade (GATT) that had been in place for the preceding five decades. The WTO administers multilateral trade agreements, provides a forum for trade negotiations, handles trade disputes, monitors national trade policies, and provides technical assistance and training for developing countries. The WTO has about 150 member countries.

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RESERVES: The vault cash and deposits at the Federal Reserve System that banks use to complete day-to-day transactions.

     See also | bank | vault cash | Federal Reserve deposits | required reserves | legal reserves | excess reserves |

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The process of successfully fulfilling wants and needs. This also goes by the technical economic term utility, and is essentially synonymous with more common words, such as fulfillment, well-being, and to some degree prosperity or happiness.

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Today, you are likely to spend a great deal of time at an auction hoping to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for the happiest person in the room.
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