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REPURCHASE AGREEMENT: A common type of bank account in which funds are transferred from one account to another, then automatically transferred back after a short period, usually overnight. In effect, a bank customer buys a legal claim from a bank with the understanding that the bank will automatically "repurchase" this legal claim back after a specified time period. Repurchase agreements were original developed as a round about means of paying interest on business checking, which such interest paying was legally prohibited. Repurchase agreements are near monies added to M1 to obtain broader monetary aggregates, M2 and M3.
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Lesson 18: Banking | Unit 3: Reserve Banking
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Page: 13 of 24
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Banking sort of evolved from the goldsmithing profession. Setting the stage of the story: - It takes place at a time and a place when gold is the economy's commodity money: Medieval Europe.
- Fred is a goldsmith, a craftsman who fashions products from gold.
Fred: - Fred's raw material is also the economy's money.
- Gold input is valuable in use for what Fred creates and also valuable as the medium of exchange.
- Fred must keep his raw material safe and secure.
- Fred has a safe.
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NET EXPORTS DETERMINANTS Ceteris paribus factors, other than aggregate income or production, that are held constant when the net exports line is constructed and which cause the net exports line to shift when they change. Some of the more important net exports determinants are global economic conditions, exchange rates, and trade barriers.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet hoping to buy either a birthday gift for your father that doesn't look like every other birthday gift for your father or a green fountain pen. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"Courage is the ladder on which all the other virtues mount." -- Claire Boothe Luce, diplomat, writer
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AVC
Average Variable Cost
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