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INDUCED CHANGE: A change in aggregate expenditures, especially consumption expenditures, that is "induced" or triggered by a change in national income or gross domestic product. Induced changes form the foundation for the multiplier effect, which is set in motion by autonomous changes in aggregate expenditures. In terms of Keynesian economics and the Keynesian cross diagram, induced changes are seen as a movement along in the aggregate expenditures line. This two step process, autonomous changes causing induced changes, is key to explaining business cycle fluctuations.

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PLANNED ECONOMY

An economy, or economic system, that relies heavily on central planning by government to allocate resources and answer the three basic questions of allocation. A planned economy is often a type of command economy, in which government uses its coercive powers to implement central planning allocation decisions.

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WHITE GULLIBON
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Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either galvanized steel storage shelves or a large green chalkboard shaped like the state of Maine. Be on the lookout for infected paper cuts.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
"In a time of drastic change, it is the learners who inherit the future. "

-- Eric Hoffer, philosopher

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