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OPEN MARKET: A market, not unlike that stock market, that trades the U.S. Treasury securities that comprises the federal debt. U.S. Treasury securities are low risk and extremely secure financial instruments that are held by all sorts of investors, especially commercial banks. The Federal Reserve System is also a major holder of U.S. Treasury securities and participant in the open market. In fact, the Federal Reserve System used buying and selling of U.S. Treasury securities through the open market as a means of controlling the money, through what is appropriately termed open market operations.
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PERFECT COMPETITION, FACTOR MARKET ANALYSIS The analysis of a factor market characterized by perfect competition indicates that each buyer maximizes profit by equating marginal revenue product to the factor price. This achieves an efficient allocation of resources and provides a benchmark for analyzing other factor market structures, including monopsony, monopoly, and bilateral monopoly.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time at a dollar discount store seeking to buy either decorative celebrity figurines or a flower arrangement with anything but tulips for your grandfather. Be on the lookout for malfunctioning pocket calculators.
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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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"When we do the best that we can, we never know what miracle is wrought in our life, or in the life of another." -- Helen Keller
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BJE
Bell Journal of Economics
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