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

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AUTONOMOUS NET EXPORTS

Net exports by the foreign sector that do not depend on income or production (especially national income or gross domestic product). That is, changes in income do not generate changes in net exports. Autonomous net exports are best thought of as net exports that the foreign sector undertakes independent of income. They are measured by the intercept term of the net exports line. The alternative to autonomous net exports is induced net exports, which do depend on income.

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APLS

PINK FADFLY
[What's This?]

Today, you are likely to spend a great deal of time at an auction seeking to buy either a cross-cut paper shredder or a birthday greeting card for your father. Be on the lookout for gnomes hiding in cypress trees.
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This isn't me! What am I?

Natural gas has no odor. The smell is added artificially so that leaks can be detected.
"The truth is not for all men, but only for those who seek it. "

-- Ayn Rand, writer

BIS
Bank for International Settlements
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