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SLOPE, PRODUCTION POSSIBILITIES CURVE: The numerical value of the slope of the production possibilities curve is the opportunity cost of producing the good measured on the horizontal axis.
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ENDPOINT ELASTICITY FORMULA A simple technique for calculating the coefficient of elasticity by estimating the elasticity for discrete changes in two variables using the initial values of each. The distinguishing characteristic of this formula is that percentage changes are calculated based on the initial values of each variable. An alternative technique is the midpoint elasticity formula.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction hoping to buy either a New York Yankees baseball cap or a solid oak entertainment center. Be on the lookout for jovial bank tellers.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"The roots of education are bitter, but the fruit is sweet." -- Aristotle, Greek philosopher
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BVAR
Bayesian VAR (Vector Autoregression)
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