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EQUITY MARKET: A market that trades the equity of companies. In other words, a stock market.

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L

A broad monetary measure that combines M3 plus several liquid assets, including commercial paper, U.S. Treasury bills, savings bonds, and bankers' acceptances. L used to be tracked and reported by the Federal Reserve System along with M1, M2, and M3. However, L is no longer reported.

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Today, you are likely to spend a great deal of time looking for a downtown retail store seeking to buy either pink cotton balls or a genuine down-filled comforter. Be on the lookout for telephone calls from former employers.
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
"I not only use all the brains that I have, but all that I can borrow. "

-- Woodrow Wilson, 28th US president

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