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CHANGE IN REAL PRODUCTION: The movement along the short-run or long-run aggregate supply curve caused by a change in the price level. This should be contrasted directly with a change in aggregate supply. You might also want to review the terms change in quantity supplied and change in supply, as well. A change in real production for short-run aggregate supply actually means real production changes with a movement along a given SRAS. However, a "change in real production" for long-run aggregate supply really refers to a movement along a given LRAS curve and doesn't actually involve a change in production. A change in real production means that we have identified a NEW price level-real production combination on the existing aggregate supply curve. In contrast, a change in aggregate supply means that we have changed, moved, or shifted, the entire aggregate supply curve, the whole range of price levels and real production amounts has changed.
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INJECTIONS Non-consumption expenditures on aggregate production. The three aggregate expenditures grouped under the heading of injections are investment expenditures, government purchases and exports. Injections add to the core circular flow containing consumption, production, and income. The injections-leakages model is a Keynesian economics analysis that combines injections with leakages (saving, taxes, and imports) to identify the equilibrium level of aggregate production and income.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either shoe laces for your snow boots or a rim for your spare tire. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"We may affirm absolutely that nothing great in the world has been accomplished without passion." -- Hegel
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MTN
Multilateral Trade Negotiations
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