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What is the Third Way, and what is its advantage over the trickle-down hypothesis?
Commercial Paper
An unsecured, short-term debt instrument issued by companies to finance payroll, receivables, and other short-term liabilities.
Secured Notes
Debt instruments that are backed by a security interest in the borrower's assets, providing more assurance of repayment to the lender.
Debentures
A type of debt instrument that is not secured by physical assets or collateral but is backed by the general creditworthiness and reputation of the issuer.
Net Realizable Value
The estimated selling price of goods or inventory in the ordinary course of business minus any costs of completion, transportation, and selling.
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