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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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DEMAND-PULL INFLATION Inflation that results from increases in aggregate demand that exceed any increases in aggregate supply. This type of inflation results when the four macroeconomic sectors (household, business, government, and foreign) collectively try to purchase more output than the economy is capable of producing. The alternative type of inflation is cost-push inflation.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway looking to buy either hand lotion, a big bottle of hand lotion or a lighted magnifying glass. Be on the lookout for celebrities who speak directly to you through your television.
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Lombard Street is London's equivalent of New York's Wall Street.
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"Leadership is the art of getting someone else to do something you want done because he wants to do it." -- Dwight Eisenhower, 34th US president
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ACIR
Advisory Council on Intergovernmental Relations
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