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How Might the Globalization of Financial Markets Affect the Role

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How might the globalization of financial markets affect the role of financial frictions in business fluctuations?


Definitions:

Kidney

An organ in vertebrates that filters waste products from the blood, regulates blood pressure, electrolyte balance, and red blood cell production.

Liver

Largest gland of the body, lying in the upper-right quadrant of the abdomen just inferior to the diaphragm; secretes bile and is of great importance in carbohydrate and protein metabolism and in detoxifying chemicals.

Hyperkalemia

Greater than normal concentration of potassium ions in the circulating blood.

Calcitonin

Hormone released from parafollicular cells that acts on tissues to cause a decrease in blood levels of calcium ions.

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