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MARKET TRANSACTION: The exchange of goods and services through a market. The set of market transactions taking place in the economy is most important in terms of measuring gross domestic product (GDP). Market transactions provide the basic data used by number crunchers at the Bureau of Economic Analysis to begin the estimation of GDP. However, these number crunchers don't just want to measure market transactions, their goal is to measure economic production. As such, they eliminate some market transactions that do not involve economic production, then add economic production that do not involve market transactions.
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VERTICAL EQUITY A tax equity principle stating that people with a different ability to pay taxes should pay a different amount of taxes. This is one of two equity principles related to the ability-to-pay principle. The other is horizontal equity, which states that people with the same ability to pay taxes should pay the same amount of taxes.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"Ships are safe in harbor. But that is not what ships are for." -- Anonymous
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M3
M2 plus investment types of near monies, including large denomination certificates of deposits, institutional money market deposits, and longer term repurchase agreements and Eurodollars
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