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OUTLAW STRIKE: An unofficial and usually spontaneous strike or work stoppage by union members. A wildcat strike is not authorized by the labor union representing the workers. Such strikes generally occur because (1) labor has specific problems or concerns that have not been satisfactorily addressed by employers or (2) workers feel that union leaders are not acting in the best interest of the union members. This is also termed an wildcat strike.
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Lesson 18: Banking | Unit 3: Reserve Banking
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Page: 17 of 24
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- The concept of fractional-reserve banking, which implies that deposits are used for loans and that banks must keep reserves to back deposits.
- The three types of reserves:
- Legal reserves, which are vault cash and deposits with the Federal Reserve.
- Required reserves, which are the vault cash and deposits with the Federal Reserve that regulators say a bank must keep for daily transactions.
- Excess reserves, which are any legal reserves over and above required reserves.
- That banking sort of evolved from the goldsmithing profession.
- How Fred stumbled upon the depository function of modern banks.
- How Fred discovered the lending function of modern banks.
- How Fred discovered modern fractional-reserve banking.
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SIXTH RULE OF IGNORANCE The sixth of seven basic rules of the economy, stating that obtaining information is a costly activity that requires resources with alternative uses. As such, no one knows everything and everyone is ignorant about something.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for neighborhood pets, especially belligerent parrots.
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This isn't me! What am I?
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"Do not wait; the time will never be just right " -- Napoleon Hill, author
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AIC
Akaike's Information Criterion
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