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GOVERNMENT DEBT: The total amount of all government securities outstanding. This is also frequently termed the public debt.

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UTILITY MEASUREMENT

A quantification of the satisfaction of wants and needs achieved through the consumption of goods and services. In principle, utility measurement can take one of two forms: (1) cardinal, which is based on numerical values (1, 2, 3, etc.) and (2) ordinal which is based on rankings (first, second, third, etc.). While the hypothetical instructional analysis of utility relies on cardinal utility, ordinal utility is a more realistic way to measure satisfaction.

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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
"The past cannot be changed. The future is yet in your power. "

-- Hugh White, U.S. Senator

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