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DATA: Real world observations that are used to test or verify hypotheses. This is the key to the process of acquiring knowledge about the world using the scientific method. While theoretical speculation might indicate what we "think" the world is like, we don't know for sure until we compare our hypothesized view with the real world itself. Data is what adds empirical to empirical economic analysis.
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INTERNATIONAL FINANCE The study of the flow of monetary payments and the exchange of currencies among nations undertaken as a necessary complement to the international trading of goods and services. The exchange of currencies takes place through the foreign exchange market, which determines the foreign exchange rate, or exchange rate or one currency for another. The balance of payments documents the flow of currency payments into and out of a given country. A related area of study is international trade, both of which are part of the broader study of international economics.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store seeking to buy either a replacement remote control for your stereo system or a computer that can play video games and burn DVDs. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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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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"I shall do less whenever I shall believe what I am doing hurts the cause and I shall do more whenever I shall believe doing more will help the cause. I shall try to correct errors when shown to be errors and I shall adopt new views so fast as they shall appear to be true views. " -- Abraham Lincoln, 16th US president
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NDP
Net Domestic Product
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