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present value (DO, EO)<br />The value now of future incomes or costs which is calculated by using the technique of DISCOUNTING. This is central to much investment appraisal, especially when coST BENEFIT ANALYSIS is employed. Keynes gave this approach prominence by introducing the concept of the MARGINAL EFFICIENCY OF CAPITAL.
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infrastructure (H4)<br />The basic services or sociAL CAPITAL of a
reserve base (G2)<br />The high-powered money of the banking system. A CENTRAL BANK requires a certain proportion of cash or near-cash assets to be held: this forms the basis for the creation of bank deposits.<br /><em>See also:</em> monetary base; money multiplier
<strong>EAC</strong> – Electronic Access Code. Also Electronic Access Conference, an annual conference sponsored by the U.S. Department of Education.
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