In the ECF analysis, the indirect effect of American cuts equivalent to those in the House legislation, via increased ambition elsewhere, is even more than the direct effect.

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The reduction in performance on these tasks associated with a 25-decibel hearing loss (classified as "mild") was equivalent to an ageing effect of seven years in cognitive abilities.

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In effect, Mr Paulson engineered the equivalent of a half-point cut in interest rates targeted at the mortgage market.

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