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BALANCE OF SERVICES: The difference between funds received by a country when exporting services and the funds paid for importing services. The balance of services is one part of the current accounts portion of the balance of payments, the other is major part is the balance of trade. The balance of services is very much like the merchandise balance of trade, excepct intangible services are being exported and imported rather than tangible goods. Like the balance of trade, the balance of services can be out of balance. A balance of services surplus results if service exports exceed imports, also termed a favorable balance of services, and a balance of services deficit exists if service imports exceed exports, analogously termed an unfavorable balance of services.
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AVERAGE TOTAL COST CURVE A curve that graphically represents the relation between average total cost incurred by a firm in the short-run product of a good or service and the quantity produced. The average total cost curve is constructed to capture the relation between average total cost and the level of output, holding other variables, like technology and resource prices, constant. The average total cost curve is one of three average curves. The other two are average variable cost curve and average fixed cost curve. A related curve is the marginal cost curve.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a flea market seeking to buy either a how-to book on fixing your computer, with illustrations or several magazines on computer software. Be on the lookout for strangers with large satchels of used undergarments.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"Nothing will ever be attempted if all possible objections must first be overcome. " -- Samuel Johnson, essayist, critic, lexicographer
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GNMA
Government National Mortgage Association
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