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LOCAL BONDS: Also called municipal bonds, these are medium or long-term financial instruments issued by municipalities to borrow the funds used to build schools, highways, parks and other public projects. An attractive feature of these financial instruments is that are exempt from federal income tax. Commercial banks, corporations, and others with large sums of funds to lend usually purchase these bonds.

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AVERAGE FACTOR COST, MONOPSONY

Total factor cost per unit of factor input employed by a monopsony in the production of output, found by dividing total factor cost by the quantity of factor input. Average factor cost, abbreviated AFC, is generally equal to the factor price. However, using the longer term average factor cost makes it easier to see the connection to related terms, including total factor cost and marginal factor cost.

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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers trying to buy either throw pillows for your living room sofa or a hepa filter for your furnace. Be on the lookout for pencil sharpeners with an attitude.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
"Are you bored with life? Then throw yourself into some work you believe in with all your heart. Live for it, die for it, and you will find happiness that you had thought could never be yours. "

-- Dale Carnegie, writer

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