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NATIONALIZATION: The process of a national government taking over the ownership of a private business or industry, usually in conjunction with a major revolution that establishes a communistic or socialist command economy. Nationalization was a common practice, sort of a fad, during the 1950s,1960s, and 1970s. Even non-revolutionary industrialized countries in Europe jumped onto the nationalization bandwagon. The United States also took at stab at nationalizing passenger train service when Amtrak was established in 1970.
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BALANCE ON SERVICES A subset of the balance of payments current account that records the difference between the payments received for exports of services to other nations and the payments made for the imports of services from other nations. The flow of payments is for intangible services, not for physical or tangible goods. The balance on services is thus appropriately divided into services exported and services imported. Two other subsets of the current account include the balance on merchandise trade and unilateral transfers. The commonly termed balance of trade is the sum of the balance on merchandise trade and the balance on services.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either a set of luggage with wheels or a birthday gift for your aunt. Be on the lookout for telephone calls from former employers.
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"Most human beings have an almost infinite capacity for taking things for granted. " -- Aldous Huxley, writer
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BLS
Bureau of Labor Statistics
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