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UNVERIFIABLE AXIOM: A basic precondition or assumption underlying a theory that can not be tested against real world data, but must accepted without verification. Unverifiable axioms are commonly derived from personal beliefs, political views, and cultural values.
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IMPLEMENTATION LAG The time lag that occurs after a government policy designed to correct an economic problem has been selected and the actual execution of the policy. The implementation lag is based the time it takes for government agencies, which can be slow and methodical, to carry out the designated policy. This "inside lag" is one of four policy lags associated with monetary and fiscal policy. The other two "inside lags" are recognition lag and decision lag, and one "outside lag" is implementation lag. All four policy lags can reduce the effectiveness of business-cycle stabilization policies and can even destabilize the economy.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs looking to buy either a wall poster commemorating yesterday or pink cotton balls. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?
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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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"No amount of business school training or work experience can teach what is ultimately a matter of personal character. " -- Truett Cathy, Chick-fil-A Inc. founder
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PVCF
Present Value Cash Flow
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