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mutual fund
mutual fund in finance, investment company or trust that has a very fluid capital stock. It is unique in that at any time it can sell or redeem any of its outstanding shares at net asset value (i.e., the price of a share equals total assets minus liabilities divided by the total number of shares). ...
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speculation
speculation practice of engaging in business in order to make quick profits from fluctuations in prices, as opposed to the practice of investing in a productive enterprise in order to share in its earnings. The term is sometimes applied to investment in a venture involving abnormal risks along with...
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Kampala
Kampala , city (2002 pop. 1,189,142), capital of Uganda, on Lake Victoria. It is Uganda's largest city and its administrative, communications, economic, and transportation center. Manufactures include processed foods, beverages, furniture, and machine parts. Agricultural exports include coffee, cott...
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social security
social security government program designed to provide for the basic economic security and welfare of individuals and their dependents. The programs classified under the term social security differ from one country to another, but all are the result of government legislation and all are designed to...
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Individual Retirement Account
Individual Retirement Account (IRA), tax-sheltered retirement plan, originally created (1974) to assist individuals not covered by company pensions. Under the U.S. tax law of 1981, IRA provisions were liberalized to allow individuals to contribute up to $2,000 per year (up from $1,500) to such acco...
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pension
pension periodic payments to one who has retired from work because of age or disability. Pensions, originally thought of as charity, are now viewed as an essential part of the social responsibility of employers or of the state. In the Roman Empire there was a well-established pension system to care...
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Andorra
Andorra , Fr. Andorre , officially Principality of Andorra, autonomous parliamentary co-principality (2005 est. pop. 70,500), 179 sq mi (464 sq km), high in the E Pyrenees between France and Spain, under the joint suzerainty of the president of France and the bishop of Seo de Urgel, Spain. Andorra ...
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balance of payments
balance of payments balance between all payments out of a country within a given period and all payments into the country, an outgrowth of the mercantilist theory of balance of trade . Balance of payments includes all payments between a country and its trading partners and is made up of the balanc...
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money-market fund
money-market fund type of mutual fund that invests in high-yielding, short-term money-market instruments, such as U.S. government securities, commercial paper , and certificates of deposit. Returns of money-market funds usually parallel the movement of short-term interest rates. Some funds buy o...
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Association of Southeast Asian Nations
Association of Southeast Asian Nations (ASEAN), organization established by the Bangkok Declaration (1967), linking the nations of Indonesia, Malaysia, Philippines, Singapore, and Thailand. Subsequently, Brunei (1984), Vietnam (1995), Laos (1997), Myanmar (1999), and Cambodia (1999) were admitted; ...
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