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Definition
| An asset widely accepted as a means of payments |
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Definition
| The total amount of money held by the public |
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Definition
| The property of being easily converted into cash |
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| Cash in the hands of the public |
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Definition
| Currency and coins held outside of banks |
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Definition
| Checking accounts that do not pay interest |
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Definition
| A standard measure of the money supply including cash in the hands of the public, checking account deposits and travelers checks |
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Definition
| M1 plus savings account balances, retal money market muteual funds and small time deposits |
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Definition
| A business firm that specializes in brokering between lenders and savers |
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Term
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Definition
| A promise to pay bakc borrowed funds, issued by a corporation or government agency |
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Definition
| Vault cash plus balances held at the Fed |
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Definition
| The minimum amount of reserves a bank must hold, depending on the amount of its deposit liability |
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Definition
| The minimum fraction of checking account balances that banks must hold as reserves |
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Definition
| The differences between assets and liabilities |
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Term
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Definition
| A nation's principal monetary authority responsible for controlling the money supply |
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