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EUROPEAN CENTRAL BANK: The central bank for the European Union and Economic and Monetary Union this is charged with monitoring monetary policy and introducing euros into circulation (beginning in 2002). The European Central Bank has a comparable, but perhaps somewhat less powerful, role as the Federal Reserve Board of Governors in the United States. It is took over for the European Monetary Institute in 1998 and is the executive body of the European System of Central Banks.

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LONG-RUN INDUSTRY SUPPLY CURVE

The relation between market price and the quantity supplied by all firms in a perfectly competitive industry after the industry has completed its long-run adjustment. The long-run industry supply curve effectively traces out a series of equilibrium prices and quantities that reflect long-run adjustments of a perfectly competitive industry to demand shocks. This long-run adjustment can take one of three paths, indicating an increasing-cost industry, a decreasing-cost industry, and a constant-cost industry.

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Today, you are likely to spend a great deal of time at the confiscated property police auction looking to buy either a flower arrangement for that special day for your mother or a New York Yankees baseball cap. Be on the lookout for defective microphones.
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
"There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle."

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