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LEVERAGED BUYOUT: A method of corporate takeover or merger popularized in the 1980s in which the controlling interest in a company's corporate stock was purchased using a substantial fraction of borrowed funds. These takeovers were, as the financial-types say, heavily leveraged. The person or company doing the "taking over" used very little of their own money and borrowed the rest, often by issuing extremely risky, but high interest, "junk" bonds. These bonds were high-risk, and thus paid a high interest rate, because little or nothing backed them up.
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MARGINAL PROPENSITY TO CONSUME The proportion of each additional dollar of household income that is used for consumption expenditures. The marginal propensity to consume (abbreviated MPC) is another term for the slope of the consumption line and is calculated as the change in consumption divided by the change in income. The MPC plays a central role in Keynesian economics. It quantifies the consumption-income relation and the fundamental psychological law. It is also a foundation for the slope of the aggregate expenditures line and is critical to the multiplier process. A related consumption measure is the average propensity to consume.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction looking to buy either storage boxes for your summer clothes or 500 feet of coaxial cable. Be on the lookout for poorly written technical manuals.
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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.
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"There's a very positive relationship between people's ability to accomplish any task and the time they're willing to spend on it." -- Dr. Joyce Brothers
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MRS
Marginal Rate of Substitution
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