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July 16, 2025 

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ANNUAL: A standard 12-month period, or one year, used for reporting economic and financial data. Gross Domestic Product and related measures are noted economic data released annually. Many businesses also provide annual financial reports. Another standard reporting period is the quarter.

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UNEMPLOYMENT COMPENSATION: A system of government sponsored insurance, created by the Social Security Act (1935), that provides benefits to unemployed workers. Funding is obtained by taxes on employers. The system is mandated by the federal government, but operated by each state. As such, the amount and duration of the benefits differ from state to state.

     See also | insurance | unemployment | Social Security | transfer payments | automatic stabilizer | welfare | taxes |


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UNEMPLOYMENT COMPENSATION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 16, 2025].


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BANK PANIC

An economy-wide problem in the financial sector and the banking industry that triggers an economy-wide business-cycle contraction or even depression. Bank panics were common throughout the 1800s and early 1900s, during which time they where the primary cause of business-cycle downturns. Bank panics usually involved bank runs that spread from bank to bank throughout the economy.

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Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for high interest rates.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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