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Term of the Day
standard of living bubble
standard of living
standard payment calculation
Definition
Pattern
of
consumer credit
use in which individuals
borrow
in
order
to
purchase
more
goods
and
services
than they would be able to
afford
on
real
earned income
alone. Being unsustainable in the
long-term
, this
trend
follows the typical
bubble
pattern and eventually
collapses
.
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Popular 'Economy' Terms
GDP
recession
inflation
command economy
bear market
demand
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