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NEW YORK STOCK EXCHANGE: The largest stock market in the United States, located on the famous Wall Street in New York City. This is the big daddy of all stock markets in the country, often referred to as the "big board." It was begun in the 1790s to help fledgling corporations in our fledgling country raise the funds needed for capital investment. All stock transactions (millions each day) are conducted by its members, making membership a very valuable commodity. It currently has slightly over a 1,000 members or "seats," with the only way to get a seat on the exchange from a retiring or deceased member.
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PAPER ECONOMY Markets, exchanges, and other assorted economic activities that deal with legal or paper claims on physical assets rather than the physical assets. The vast majority of activities for the paper economy take place through financial markets. The paper economy complements production and consumption activities of the real economy that involve product markets and resource markets.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway looking to buy either storage boxes for your computer software CDs or a set of tires. Be on the lookout for rusty deck screws.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"Nearly all men can stand adversity; but if you want to test a manžs character, give him power. " -- Abraham Lincoln, 16th U.S. President
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BEA
Bureau of Economic Analisys
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