Examlex
Government can accurately measure the social value of an externality.
Liquidity Constraint
A situation where an individual or firm is unable to convert assets into cash quickly without significant losses.
Universal Life
A type of flexible permanent life insurance that offers the low-cost protection of term life insurance as well as a savings element, which is invested to provide a cash value buildup.
Policyholder's Perspective
Insights or considerations from the viewpoint of an individual or entity that owns an insurance policy.
Fiduciary Responsibility
A legal obligation requiring an individual or organization to act in the best interest of another party, typically in financial matters.
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