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ECONOMIC AND MONETARY UNION: An aspect of the European Union designed to integrate economic and monetary policies and establish a single currency (the euro). The Economic and Monetary Union, abbreviated EMU, was created by the 1992 Maastricht Treaty and officially came into existence in 1999. The European Central Bank has control over monetary policy and the money supply for the Economic and Monetary Union.
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PROGRESSIVE TAX A tax in which the proportion of income paid in taxes is greater for higher income levels. A progressive income tax exists if taxpayers with more income pay a higher tax rate relative to income as income increases. A progressive tax is one of three alternations. The other two are proportional tax, in which the proportion of income paid in taxes is the same for all income levels, and regressive tax, in which the proportion of income paid in taxes is smaller for higher income levels.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall trying to buy either a T-shirt commemorating last Friday (you know why) or a rotisserie oven that can also toast bread. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"The time your game is most vulnerable is when you're ahead; never let up. " -- Rod Laver, Tennis player
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GSP
Gross State Product
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