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EURO ZONE: The geographic area occupied by the member nations of the European Economic and Monetary Union that share the same currency (euro) and monetary policy.

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FACTOR DEMAND ELASTICITY

The elasticity of a factor demand curve is affected by four items: (1) the price elasticity of demand for the good produced, (2) the production function technology and elasticity of marginal physical product, (3) the ease of factor substitutability, and (4) the share of the factor's cost relative to total cost. Changes in any of these four items cause the price elasticity of factor demand to change. In other words, the quantity of factor services demanded becomes more or less sensitive to changes in the factor price.

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PINK FADFLY
[What's This?]

Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for deranged pelicans.
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This isn't me! What am I?

The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
"Aerodynamically, the bumblebee shouldn't be able to fly, but the bumblebee doesn't know it so it goes on flying anyway. "

-- Mary Kay Ash, entrepreneur

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Games and Economic Behavior
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