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<strong>Emergency action</strong> – A special action taken by the guarantor or by the U.S. Department of Education to temporarily suspend a school, lender, or servicer from participation in the federal student aid programs. An emergency action may be followed by the initiation of formal Limitation, Suspension, and Termination procedures.
<strong>Setting spending authority</strong> – The act of changing Bright Flight, Gallagher, and College Guarantee awards from estimated to actual in FAMOUS. Once spending authority is set, students' eligibility statuses are frozen and schools can begin requesting disbursements and award amounts.
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tinmtJes which states how many stable equilibria exist given a choice of control variables but does not indicate which of them will be in a particular system. A 'catastrophe' occurs when transition from one equilibrium to another produces instability in the system.<br /> <br /><em>Reference</em><br />Poston, T. and Stewart, I. (1978) Catastrophe Theory and its Applications, London and San Francisco: Pitman.<br /> Saunders, P.T. (1980) An Introduction to Catastrophe Theory, Cambridge: Cambridge University Press.
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instant monetarism (B2)<br />The school of thought, usually identified as the New Classical, which believes that wage and price adjustment are almost instantaneous as the wages and prices set are expected to be at the equilibrium level.<br /><em>See also:</em> gradualist monetarism
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