APPLIED RESEARCH Definition

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APPLIED RESEARCH is designed to solve practical problems of the modern world, rather than to acquire knowledge for knowledges sake.

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DEVOLUTION is the delegation of authority from higher to lower levels.

M2 is a measure of the U.S. money supply that includes M1, plus savings and small time deposits, overnight repos at commercial banks, and non- institutional money market accounts. M2 is a key economic indicator used to forecast inflation.

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