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In a market-directed economy, consumers enjoy complete freedom of choice.
Financial Intermediary
An institution that facilitates the channeling of funds between lenders and borrowers indirectly.
LIBOR
London Interbank Offered Rate; the rate that large banks in London charge one another.
Floating-Rate Debt
A type of debt instrument with interest rates that adjust periodically based on a benchmark interest rate or index.
Fixed Rate Debt
A type of loan or security with an interest rate that remains constant throughout the life of the loan or security.
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