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ADJUSTMENT, LONG-RUN AGGREGATE MARKET: Disequilibrium in the long-run aggregate market induces changes in the price level that restore equilibrium. If the price level is above the long-run equilibrium price level, economy-wide product market surpluses cause the price level to fall. If the price level is below the long-run equilibrium price level, economy-wide product market shortages cause the price level to rise. In both cases long-run equilibrium is restored. Price level changes induce changes in aggregate expenditures but NOT changes in real production. The reason is that long-run aggregate supply is full-employment real production, which is unaffected by the price level.

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HORIZONTAL MERGER

The consolidation of two or more separately-owned businesses, operating in the same industry and producing competing products, into a single firm. This is one of three types of mergers. The other two are vertical merger--two firms in different stages of the production of one good--and conglomerate merger--two firms in separate, unrelated industries.

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Today, you are likely to spend a great deal of time wandering around the downtown area seeking to buy either several magazines on fashion design or a package of 3 by 5 index cards, the ones without lines. Be on the lookout for slightly overweight pizza delivery guys.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
"Before you can inspire with emotion, you must be swamped with it yourself. Before you can move their tears, your own must flow. To convince them, you must yourself believe."

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