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VAULT CASH: Paper currency and metal coins possessed by a commercial bank, either stored in the actual bank vault or temporarily resting teller drawers. Vault cash is primarily used to facilitate daily bank transactions (that is, cashing checks), and together with Federal Reserve deposits make up legal bank reserves.
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Lesson 9: Consumer Demand | Unit 3: Marginal Utility
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Page: 10 of 22
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Topic:
Incremental Satisfaction
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- While total utility is a handy measure, a more useful measure is marginal utility.
- Marginal utility is the additional utility, or satisfaction of wants and needs, obtained from the consumption or use of an additional unit of a good or service.
- Marginal utility is, in other words, the extra satisfaction achieved from an extra unit of good.
- A handy formula:
| marginal utility | = | change in total utility
change in quantity |
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BANK PANIC An economy-wide problem in the financial sector and the banking industry that triggers an economy-wide business-cycle contraction or even depression. Bank panics were common throughout the 1800s and early 1900s, during which time they where the primary cause of business-cycle downturns. Bank panics usually involved bank runs that spread from bank to bank throughout the economy.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers hoping to buy either a looseleaf notebook binder or hand lotion, a big bottle of hand lotion. Be on the lookout for pencil sharpeners with an attitude.
Your Complete Scope
This isn't me! What am I?
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"Only great minds can afford a simple style." -- Stendhal, writer
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ADV FRT
Advance Freight
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