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LEGAL CLAIM: Ownership of the physical goods, services, and resources that make up the real side of the economy. Legal claims are a key feature of the paper, or financial side of the economy. Transferring legal claims is the primary method of diverting income from household saving to investment and government borrowing. Legal-claim buyers loan income and legal-claim sellers borrower income.
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LAGGING ECONOMIC INDICATORS Seven economic statistics that tend to move up or down a few months AFTER business-cycle expansions and contractions. Most importantly, these measures indicate peak and trough turning points about three to twelve months after they occur. Lagging economic indicators are one of three groups of economic measures used to track business-cycle activity. The other two are coincident economic indicators and leading economic indicators.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"Advice is like snow ‚ the softer it falls, the longer it dwells upon and the deeper it sinks into the mind. " -- Samuel Taylor Coleridge, poet
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SPE
Subgame Perfect Equilibrium
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