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EUROPEAN SYSTEM OF CENTRAL BANKS: The consolidation of the central banks of the member nations of the European Union, together with the European Central Bank, to oversee monetary policy. A major aspect of the Economic and Monetary Union has been coordinate the actions of distinct, independent nations under a single authority, which could probably not be achieved without the European System of Central Banks. The European System of Central Banks is comparable to the Federal Reserve System of the United States.
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GOVERNMENT FUNCTIONS Resource allocation activities that are more efficiently performed using the coercive government powers of taxation, spending, and regulatory authority than by private sector market exchanges. The most noted activities are (1) common defense; (2) education; (3) transportation; (4) public health and safety; (5) legal and judicial system; and (6) money.
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
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"Live in such a way that you would not be ashamed to sell your parrot to the town gossip." -- Will Rogers
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FV
Face Value
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