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LAW: Generally accepted, verified, fundamental principle of nature. Laws have been tested and verified through the scientific method. As a house is constructed from concrete, lumber, and nails, a theory is constructed from laws. To be a fundamental law of nature, a principle must capture a cause-and-effect relationship about the workings of the world.

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INTEREST-RATE EFFECT

A change in aggregate expenditures on real production, especially those made by the household and business sectors, that results because a change in the price level alters the interest rate which then affects the cost of borrowing. This is one of three effects underlying the negative slope of the aggregate demand curve associated with a movement along the aggregate demand curve and a change in aggregate expenditures. The other two are real-balance effect and net-export effect.

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APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a three-hole paper punch or decorative picture frames. Be on the lookout for cardboard boxes.
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The average bank teller loses about $250 every year.
"A genius is a talented person who does his homework."

-- Thomas Edison

NI
National Income, Net Income
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