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October 18, 2018 

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BOARD OF GOVERNORS: The policy-making head of the Federal Reserve System. The Board is comprised of 7 members, each serving 14-year terms, with one term expiring every two years. This Board, when joined by five Federal Reserve District Bank presidents forms the Federal Open Market Committee. The Chairman of the Board of Governors is considered to be one of the, if not THE, most powerful individuals in the economy.

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EXPORT PROMOTION: A strategy for economic development for a country based on encouraging domestic producers to export production or foreign nations to purchase exported goods.The goal of this policy is to encourage domestic production, which subsequently increases domestic income and consumption. A contrasting economic development is import substitution.

     See also | economic development | import substitution | import | export | foreign trade | circular flow |


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EXPORT PROMOTION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: October 18, 2018].


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PHENOMENON

An event or action that is subject to investigation, analysis, and explanation using the scientific method. Phenomena are the sorts of things that science seeks to explain. They can be common events, like the blowing wind, or unusual, like the extinction of the dinosaurs.

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[What's This?]

Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a cell phone case or a pair of designer sunglasses. Be on the lookout for the last item on a shelf.
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The average bank teller loses about $250 every year.
"Executives who get there and stay suggest solutions when they present the problems. "

-- Malcolm Forbes, business executive

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Total Variable Cost
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