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WHEALER-LEA ACT: This was a major amendment to the Federal Trade Commission Act, passed in 1938, that gave powers to the Federal Trade Commission to investigate unfair and deceptive business practices and to prevent false advertising. The Whealer-Lea Act was a major step in moving the Federal Trade Commission into its current role as more of a consumer protection agency than a monopoly buster.
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AUTONOMOUS INVESTMENT Business investment expenditures 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 investment. Autonomous investment is best thought of as investment that the business sector undertakes regardless of the state of the economy. It is measured by the intercept term of the investment line. The alternative to autonomous investment is induced investment, which does depend on income.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"Democracy is based on the conviction that man has the moral and intellectual capacity . . . to govern himself with reason and justice. " -- Harry Truman, 33rd U.S. president
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RBC
Real Business Cycle
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