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October 24, 2020 

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LIABILITY: Something that you owe. The biggest liabilities for most consumers are loans, including mortgages, car loans, credit-card balances, and installment accounts at stores.

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CURRENCY: Paper usually issued by the national government that are used as money. Metal coins are also frequently included under the generic heading of currency. Currency in the U.S. economy is issued by the Federal Reserve System (paper) and the U.S. Treasury (coins). This constitutes about 30 to 40 percent of the M1 money supply. Most modern currency is fiat money.

     See also | money | M1 | checkable deposits | money supply | Federal Reserve System | fiat money | Federal Reserve note | gold certificate | silver certificate |


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CURRENCY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2020. [Accessed: October 24, 2020].


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UNEMPLOYMENT COMPENSATION

A joint federal-state government system, created by the Social Security Act (1935), that provides income benefits to unemployed workers. Funding is obtained by taxes on employers. The system is mandated by the federal government, but operated by each state. While, the amount and duration of benefits differ from state to state, recipients generally receive about 50 to 70 percent of weekly wages for 26 to 39 weeks.

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[What's This?]

Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club hoping to buy either income tax software or a how-to book on the art of negotiation. Be on the lookout for poorly written technical manuals.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
"We work to become, not to acquire. "

-- Elbert Hubbard, editor

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