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GOVERNMENT SECTOR: The basic macroeconomic sector that includes all levels of government, including federal, state, and local. The primary function of the government sector is to force resource allocation decisions that might not otherwise be made by the rest of the economy. This is one of four macroeconomic sectors. The other three are household sector, business sector, and foreign sector.

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ELASTICITY ALTERNATIVES, SUPPLY

Five categories of the price elasticity of supply that reflect the entire range of the relative responsiveness of a change in quantity supplied to a change in price. These five alternatives--perfectly elastic, relatively elastic, unit elastic, relatively inelastic, and perfectly inelastic--are often illustrated by different supply curves. The price elasticity of demand is also reflected by five comparable alternatives.

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APLS

BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a genuine down-filled comforter or a 200-foot blue garden hose. Be on the lookout for crowded shopping malls.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
"Be a yardstick of quality. Some people aren't used to an environment where excellence is expected. "

-- Steve Jobs, Apple Computer co-founder

BJE
Bell Journal of Economics
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