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UNLIMITED WANTS AND NEEDS: A characteristic of people such that they are never totally satisfied with the quantity and variety of goods and services. This is one half of the fundamental problem of scarcity that has plagued humanity since the beginning of time. The other half of the scarcity problem is limited resources. Unlimited wants and needs essentially means that people never get "enough"--that there's always something else that they would want or need.
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AUTONOMOUS EXPENDITURES Expenditures on aggregate production by the four macroeconomic sectors that do not depend on income or production (especially national income or even gross domestic product). That is, changes in income do not generate changes in these expenditures. Each of the four aggregate expenditures--consumption, investment expenditures, government purchases, and net exports--have an autonomous component. Autonomous expenditures are affected by the ceteris paribus aggregate expenditures determinants and are measured by the intercept term of the aggregate expenditures line. The alternative to autonomous expenditures are induced expenditures, expenditures which do depend on income.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at an auction seeking to buy either storage boxes for your income tax returns or an AC adapter for your CD player. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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This isn't me! What am I?
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Lombard Street is London's equivalent of New York's Wall Street.
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"Plans are only good intentions unless they immediately degenerate into hard work." -- Peter Drucker, management consultant
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SEC
Securities and Exchange Commision
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