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<strong>Week of instruction</strong> Any period of 7 consecutive days in which the school provides at least one day of regularly scheduled instruction or examinations.
laissez-faire (HO)<br />The doctrine, first propounded by the PHYsrocRATS, that economic activities should follow their natural course, being subjected to few, if any, governmental regulations in order to encourage production and give consumers complete freedom. Thomas Carlyle described it as 'anarchy plus the constable'. As new roles for the state have been widely acknowledged, there are few adherents of the doctrine in its purest form.<br /><em>See also:</em> minimal state <br /><em>Reference</em><br />Viner, J. (1960) 'The intellectual history of laissez-faire', Journal of Law and Economics 3: 45-69.
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speculation (G1)<br />Buying and selling in commodity or financial markets which are subject to many price fluctuations in order to make a capital gain. It has been described as 'arbitrage through time'. Although much condemned as an unreal activity for private gain, it does contribute to price stability.
<strong>FAA</strong> Financial Aid Administrator, a staff member at an eligible school who administers financial aid programs.
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