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SEC: The abbreviation for Securities and Exchange Commission, which is a federal government agency that regulates the trading of corporate stock to protect investors against unscrupulous practices. Like a number of other federal regulatory agencies, the SEC was established in the 1930s--1934 to be exact. The impetus for its formation was to prevent investors from manipulating the stock market and to prevent other practices that contributed to the 1929 stock market crash. The SEC has all sorts of rules governing the stock market, including information disclosure, insider trading, speculation, and use of credit.
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POLITICAL ENTREPRENEURS Election seeking politicians who undertake risks inherent in the allocation of resources made through government actions. Like business entrepreneurs, political entrepreneurs take risks and organize production. They organize production with government laws, regulations, and policies. They run the risk of failed policies and losing elections. Their utility-maximizing actions are also a prime source of government failure. Falling victim to the principal-agent problem, pursuit of their own satisfaction (winning elections) often conflicts with what is best for the rest of society.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either decorative celebrity figurines or a flower arrangement with anything but tulips for your grandfather. Be on the lookout for broken fingernail clippers.
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"Luck is what happens when preparation meets opportunity. " -- Seneca, Roman philosopher
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BOP
Balance of Payments
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