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EXCHANGE RATE MECHANISM: The system used to link the euro to the currencies of European Union member nations that do not immediately participate in the use of the euro. Linkages with these non-participating European Union member nations is voluntary, but designed to ease their transition into full-blown use of the euro.

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ABSTRACTION

Simplifying the complexities of the real world by ignoring (hopefully) unimportant details while doing economic analysis. Abstraction is an essential feature of the scientific method. Hypothesis verification, model construction, and comparative static analysis are not possible without abstraction.

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Today, you are likely to spend a great deal of time surfing the Internet hoping to buy either an AC adapter that works with your MPG player or rechargeable batteries. Be on the lookout for jovial bank tellers.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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Pacific Stock Exchange (US, LA and San Francisco)
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