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SECOND BANK OF THE UNITED STATES: The second attempt by the United States to created a central bank. The second bank was established in 1816 and when defunct in 1836, when it lost a political battle with President Andrew Jackson. The United States did not seek another central bank until the Federal Reserve System was established in 1913.

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FACTOR SUPPLY

The willingness and ability of scarce resources or factors of production to offer their services for use in productive activities. Factor supply relates price and quantity, specifically, factor supply is the range of factor quantities that are supplied at a range of factor prices. This is one half of the factor market. The other half is factor demand. The factors of production subject to factor supply include any and all of the four scarce resources--labor, capital, land, and entrepreneurship. However, because labor involves human beings directly, it is the factor that tends to receive the most scrutiny and analysis.

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Today, you are likely to spend a great deal of time at the confiscated property police auction seeking to buy either throw pillows for your bed or a package of blank rewritable CDs. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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