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RESERVE REQUIREMENTS: Rules by the Federal Reserve System governing the amount of bank reserves that banks must keep to back up their deposits. Legal reserve requirements came about because banks that practice fractional-reserve banking are sometimes inclined to make too many interest-paying loans and neglect to keep enough reserves on hand to pay their depositors. In principle, the Fed can alter reserve requirements to control the money supply. In practice, however, the Fed prefers to use open market operations or the discount rate.
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ELASTIC The general relation between two variables in which relatively small changes in one variable (A) cause relatively large changes in another variable (B). Small changes in variable A cause relatively large changes in variable B or the percentage change in variable B is larger than the percentage change in variable A. This characterization of elasticity is most important for the price elasticity of demand and the price elasticity of supply. Elastic is one of two general elasticity relations between two variables. The other is inelastic.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall hoping to buy either a microwave over that won't burn your popcorn or a T-shirt commemorating the first day of winter. Be on the lookout for pencil sharpeners with an attitude.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"Give the American people a good cause, and there's nothing they can't lick. " -- John Wayne, actor
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GARCH
Generalized Autoregressive Conditional Heteroskedasticity
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