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NOMINAL: The actual dollar price of stuff when it's bought or sold. The contrast is with the term real, which is actual value adjusted for price changes or inflation.
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ASYMMETRIC INFORMATION Information is not equally available to everyone. Asymmetric information results because efficient information search inevitably stops short of compete information. Some people obtain more benefits from information than others, are willing to incur higher search costs, and thus end up knowing more. Or they incur lower information search costs and have easier access to the information. In a market, sellers tend to have more information about the good than buyers. Asymmetric information gives rise to adverse selection, moral hazard, and the principal-agent problem. These problems can be lessened through signalling and screening.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store trying to buy either a pair of leather sandals that won't cause blisters or clothing for your kitty cats. Be on the lookout for fairy dust that tastes like salt.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"The secret of getting things done is to act! " -- Dante Alighieri, poet
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NDP
Net Domestic Product
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