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GREAT DEPRESSION: A period of time from 1929 to 1941 in which the economy experienced high rates of unemployment (averaging well over 10%), low production, and limited investment. This period of stagnation prompted radical changes in the way government viewed it's role in the economy and lead to our modern study of macroeconomics.
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MONOPOLISTIC COMPETITION, CHARACTERISTICS The four key characteristics of monopolistic competition are: (1) large number of small firms, (2) similar but not identical products sold by the firms, (3) relative freedom of entry into and exit out of the industry, and (4) extensive knowledge of prices and technology.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either a country wreathe or galvanized steel storage shelves. Be on the lookout for letters from the Internal Revenue Service.
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"Do not go where the path may lead, go instead where there is no path and leave a trail." -- Ralph Waldo Emerson
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AFEA
American Farm Economic Association
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