REFERENDUM Definition

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REFERENDUM is when a legislative act is referred for final approval to a popular vote by the electorate, e.g., a bond referendum.

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BOOK-TO-BILL RATIO is the ratio of orders taken (sic booked) to products shipped and bills sent (sic billed). The ratio is a measure of whether a company has more, equal to or less than the orders than it can likely produce and deliver. The book-to-bill ratio is primarily of interest to investors or traders in the high-tech sector.

BROKER-DEALER is any person or institution, other than a bank, engaged in the business of buying or selling securi­ties on its own behalf or for others.

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