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Define comparative advantage.
Federal Reserve Bank
The central banking system of the United States, responsible for managing the country's monetary policy and regulating its financial institutions.
Reserve Requirement
The minimum amount of reserves that banks are required to hold by law, usually a percentage of their deposits, to ensure bank liquidity.
Open Market Operations
Central bank activities involving the buying and selling of government securities to control the money supply and interest rates.
Discount Rate
The fee in terms of interest that depository institutions and commercial banks pay for loans taken from the lending establishment of their regional Federal Reserve Bank.
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