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BEAR MARKET: A condition of the stock market in which stock prices are generally declining and most of the participants expect this decline to continue. In other words, the stock market is into an extended period of "hibernation" that could last for months or even years. This isn't the same as a "crash" of falling stock prices over a short time (like one day). A bear market usually occurs because investors see a sluggish, stagnant economy with few signs of robust growth.
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ABILITY-TO-PAY PRINCIPLE A taxation principle stating that taxes should be based on the ability to pay taxes. The ability-to-pay principle works from the proposition that those who have the greatest income should pay the most taxes. The ability-to-pay principle is the only reasonable way to finance the provision of public goods such as national defense, public health, and environmental quality. This is one of two taxation principles. The other is the benefit principle, which states taxes should be based on the benefits received.
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GRAY SKITTERY
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Today, you are likely to spend a great deal of time flipping through mail order catalogs wanting to buy either a set of luggage with wheels or a birthday gift for your aunt. Be on the lookout for neighborhood pets, especially belligerent parrots.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"Do something wonderful; people may imitate it. " -- Albert Schweitzer, theologian, physician
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AFC
Average Fixed Cost
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