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LABOR FORCE: The total number of people willing and able to exert mental and/or physical efforts in productive activities. In principle, this is everyone 16 years of age and over who is willing and able to work. In practice, it includes the sum of anyone over 16 years who is employed or unemployed but actively seeking a job. The labor force is essentially a more technical term for the economy's labor supply.
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AVERAGE REVENUE CURVE, MONOPOLISTIC COMPETITION A curve that graphically represents the relation between average revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a monopolistically competitive firm's output.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time at a garage sale wanting to buy either a toaster oven that has convection cooking or a birthday gift for your mother. Be on the lookout for attractive cable television service repair people.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"How wonderful it is that nobody need wait a single moment before starting to improve the world." -- Anne Frank
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ICSID
International Center for the Settlement of Investment Disputes
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