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ESTATE TAX: A tax on the value of a deceased person's estate, or all of the property and assets owned. This should be compared to an inheritance tax, which is a tax on that portion of the estate that an heir actually receives.
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IMPLEMENTATION LAG The time lag that occurs after a government policy designed to correct an economic problem has been selected and the actual execution of the policy. The implementation lag is based the time it takes for government agencies, which can be slow and methodical, to carry out the designated policy. This "inside lag" is one of four policy lags associated with monetary and fiscal policy. The other two "inside lags" are recognition lag and decision lag, and one "outside lag" is implementation lag. All four policy lags can reduce the effectiveness of business-cycle stabilization policies and can even destabilize the economy.
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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"Life is not a 'brief candle.' It is a splendid torch that I want to make burn as brightly as possible before handing it on to future generations. " -- Bernard Shaw, journalist
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MPS
Marginal Propensity to Save
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