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GOVERNMENT POLICIES: Government actions designed to affect economic activity and pursue one or more economic goals. Also called economic policies. The four common types of government policies are: fiscal, monetary, regulatory, and judicial.

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ASSUMPTION

An initial condition or statement of a model or theory that sets the stage for an analysis by abstracting from the real world. Assumptions are important to economic analysis. Some assumptions are used to simplify a complex analysis into more easily manageable parts. Other assumptions are used as control conditions that are subsequently changed to evaluate the consequences.

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Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a how-to book on wine tasting or a bookshelf that will fit in your closet. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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Al Capone's business card said he was a used furniture dealer.
"When the solution is simple, God is answering."

-- Albert Einstein

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