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July 6, 2025 

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UNEMPLOYED: The condition in which a resource (especially labor) is NOT actively engaged in a productive activity, but IS actively seeking employment. This general condition forms the conceptual basis for one of the three categories used by the Bureau of Labor Statistics (BLS) when classifying individual's labor force status. For specific details of the BLS classification procedure, see unemployed persons. The other two BLS categories are employed persons and not in the labor force.

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SUNSET LAW: A policy proposed to address some of the inefficiency of government bureaucracies by imposing a fixed termination date on government programs and policies. The program or policy then automatically ends when it reaches this date unless action is take to extended its existence. This action would likely generate discussion and debate over the usefulness of the program or policy. If it remains beneficial, it is renewed. If not, it disappears.

     See also | public choice | term limits | line item veto | logrolling | explicit logrolling | majority rule | super majority rule | unanimity rule | plurality rule | Tiebout hypothesis | principal-agent problem | principle of the median voter |


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SUNSET LAW, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 6, 2025].


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VALUE ADDED

The increase in the value of a good at each stage of the production process. The "value" part of this phrase means the ability of a good to satisfy wants and needs either directly as a consumption good or indirectly as a capital good. The "added" part means that resources have transformed the good in the course of production, to make it more valuable. A good that provides greater satisfaction has greater value.

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APLS

BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time browsing through a long list of dot com websites trying to buy either a 50-foot blue garden hose or a turbo-powered vacuum cleaner. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?

A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
"Defeat is simply a signal to press onward. "

-- Helen Keller, author, lecturer

MC
Marginal Cost
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