Yes.
"Good" cholesterol refers to cholesterol carried on high-density lipoproteins (HDL) and "bad" cholesterol refers to cholesterol carried on low-density lipoproteins (LDL). High-density lipoproteins have a tendency to pick up cholesterol from the walls of the arteries and carry it to the liver (a good thing). Cholesterol carried on LDL tends to be deposited in arteries.

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