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constant capital (D2, E2)<br />The MARXIAN term for raw materials and machinery. This form of capital transfers only its own value, originally created by labour, to the finished product.<br /><em>See also:</em> organic composition of capital; variable capital
MFA distorts the pattern of world trade as it impedes the expansion of low-cost producers. The MFA's effects have been to raise the cost of clothing and the profits of domestic producers in developed countries. It has curbed the exports of developing countries but has encouraged a shift to higher quality products amongst the established Third World producers. In the URUGUAY ROUND it was agreed to phase out MFA quotas over ten years.<br /> <br /><em>Reference</em><br />Choi, Y.-R., Chung, H.S. and Marian, N. (1985) The Multi-Fibre Arrangement in Theory and Practice, London: Pinter.
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<strong>Need</strong> – The student' s COA less the EFC, which is used to determine a student' s eligibility for most of the federal student aid programs as well as some state and institutional aid programs. For the Missouri Gallagher Grant, need is defined as the COA less the EFC less estimated Pell eligibility.
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