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Many of the defeated states became
Municipal Bonds
Debt securities issued by states, cities, counties, and other governmental entities to finance public projects, offering tax-exempt interest payments to investors.
Long-Term Debt
Borrowings that are due to be repaid more than one year in the future, often used for significant investments in the business.
Industrialized Economy
An economy characterized by significant industrial activity, high levels of income and employment, and a large manufacturing sector.
Consumption
The act of using goods and services by households or individuals, typically regarded as a primary economic activity.
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