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NEAR MONEY: Assets that are highly liquid, and can be easily exchanged for money, but can not be used directly to purchase goods. The best examples are savings accounts, certificates of deposit, and similar bank accounts. These savings near monies are added to M1 to derived M2. Several investment type near monies are added to M2 to derived M3.

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FALLACY OF FALSE AUTHORITY

The logical fallacy of arguing that something is "correct" or "true" because an "expert" in an unrelated area says so. This is commonly used by both advertisers, politicians, and anyone who relies an "apparent expert" for the "correct" answers to controversial issues.

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APLS

WHITE GULLIBON
[What's This?]

Today, you are likely to spend a great deal of time driving to a factory outlet hoping to buy either a pleather CD case or a how-to book on fine dining. Be on the lookout for defective microphones.
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This isn't me! What am I?

John Maynard Keynes was born the same year Karl Marx died.
"Whenever you fall, pick up something. "

-- Oswald Avery, scientist

NBER
National Bureau of Economic Research
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