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DECISION LAG: In the context of economic policies, a part of the implementation lag involving the time it takes for policy makers to determine the appropriate policy to undertake. Another part of the implementation lag is the action lag. For fiscal policy, this involves Congress and the President debating, passing, and signing legislation that changes government spending or taxes. For monetary policy, this involves a meeting among the members of the Federal Reserve Open Market Committee. The decision lag is usually shorter for monetary policy than fiscal policy.
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SHORT-RUN PRODUCTION ANALYSIS An analysis of the production decision made by a firm in the short run, with the ultimate goal of explaining the law of supply and the upward-sloping supply curve. The central feature of this short-run production analysis is the law of diminishing marginal returns, which results in the short run when larger amounts of a variable input, like labor, are added to a fixed input, like capital. A contrasting analysis is long-run production analysis.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet trying to buy either a birthday greeting card for your aunt or a wall poster commemorating the moon landing. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"Ships are safe in harbor. But that is not what ships are for." -- Anonymous
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WPO
Weakly Pareto Optimal
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