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PHYSICAL CAPITAL: The synthetic resources used to produce goods and services. Capital is a factor of production that has been previously produced. Unlike other types of material items, capital does not become a part of the product. This should be compared with financial capital and human capital.

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SLOPE, LONG-RUN AGGREGATE SUPPLY CURVE

The long-run aggregate supply (LRAS) curve is a vertical line with an infinite slope, reflecting the independent relation between the price level and aggregate real production. A higher price level is associated with the same real production as a lower price level. This is the real production generated when resources are fully employed, that is, full-employment production.

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APLS

YELLOW CHIPPEROON
[What's This?]

Today, you are likely to spend a great deal of time at an auction hoping to buy either several magazines on time travel or 500 feet of telephone cable. Be on the lookout for malfunctioning pocket calculators.
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This isn't me! What am I?

General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
"Success doesn't come to you . . . you go to it "

-- Marva Collins, Educator

FED
Federal Reserve
A PEDestrian's Guide
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