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IBT: The abbreviation for indirect business taxes, which is the official entry in the National Income and Product Accounts maintained by the Bureau of Economic Analysis for sales taxes. Indirect business taxes are one key difference between national income (the resource cost of production) and gross/net domestic product (the market value of production). For further discussion of this point, see gross domestic product and national income or net domestic product and national income. Indirect business taxes is generally less than 10% of gross domestic product (7-8% is common).
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MACROECONOMIC MARKETS Three sets of markets that make up the macroeconomy--product, financial, and resource--which exchange the three primary types of macroeconomic commodities--gross production, legal claims, and factor services. The four macroeconomic sectors--household, business, government, and foreign--interact through these three sets of markets. The primary objective of macroeconomic theories is to explain activity that takes place in these three sets of markets.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius trying to buy either storage boxes for your computer software CDs or a set of tires. Be on the lookout for jovial bank tellers.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"It is very rare that you meet with obstacles in this world (that) the humblest man has not the faculties to surmount. " -- Henry David Thoreau, philosopher
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SMSA
Standard Metropolitan Statistical Area
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