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PREFERRED STOCK: The ownership shares in a corporation that have legal claim to the corporation's assets. Stock is usually dividend into two types, common stock and preferred stock. Preferred stock has first claim to the corporations net assets, and common stock comes in second. However, if a corporation has no preferred stock, the common stock has exclusive claim. Most stocks are negotiable and are traded one on a stock market.

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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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APLS

PINK FADFLY
[What's This?]

Today, you are likely to spend a great deal of time surfing the Internet seeking to buy either several magazines on time travel or 500 feet of telephone cable. Be on the lookout for crowded shopping malls.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
"Democracy is based on the conviction that man has the moral and intellectual capacity . . . to govern himself with reason and justice. "

-- Harry Truman, 33rd U.S. president

OPEC
Organization of Petroleum Exporting Countries
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