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MACROECONOMY: The aggregate, or national economy that is the prime focus of the study of macroeconomics.

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MINIMUM EFFICIENT SCALE

The quantity of production that places a firm at the lowest point on its long-run average cost curve. The minimum efficient scale achieves production of a good at the lowest possible opportunity cost. In other words, it is not possible to produced a good at any lower cost than at the minimum efficient scale. At this quantity the production involves foregoing the least amount of other goods.

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APLS

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Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either a coffee cup commemorating the 2000 Olympics or a birthday gift for your grandmother. Be on the lookout for telephone calls from former employers.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
"A pint of sweat saves a gallon of blood. "

-- General George Patton

CES
Constant Elasticity of Substitution
A PEDestrian's Guide
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