Examlex
State governments have the power to define private property.
Repurchase Agreement
A short-term borrowing agreement where one party sells securities and agrees to repurchase them at a higher price at a later date.
Municipal Bond
A bond issued by local or state governments to finance public projects, often offering tax-exempt interest payments.
Taxable Equivalent Yield
Taxable equivalent yield calculates the yield a taxable bond needs to match the after-tax yield of a tax-exempt bond, considering the investor's tax rate.
Tax Bracket
A range of incomes taxed at a particular rate, with progressive tax systems applying higher rates to higher income levels.
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