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INCOME RECEIVED BUT NOT EARNED: Abbreviate IRBNE, this is income received by the household sector, but not earned by a factor of production. The three types of income received but not earned are Social Security payments, unemployment compensation payments, and welfare payments. These are also the three key transfer payments from the government sector to the household sector. The basic goal of transfer payments is to transfer a portion of the income earned by the factors of production (because they HAVE income) to other members of the household sector (who presumably NEED more income than they have). IRBNE is added to national income to derive personal income.
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AGGREGATE SUPPLY INCREASE, LONG-RUN AGGREGATE MARKET A shock to the long-run aggregate market caused by an increase in aggregate supply, resulting in and illustrated by a rightward shift of the long-run aggregate supply curve. An increase in aggregate supply in the long-run aggregate market results in a decrease in the price level and an increase in real production. The level of real production resulting from the shock is a greater level of full-employment real production.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction wanting to buy either a birthday greeting card for your grandfather or a weathervane with a cow on top. Be on the lookout for a thesaurus filled with typos.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"Don't judge each day by the harvest you reap, but by the seeds you plant." -- Robert Louis Stevenson, Author
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AV
Actual Value
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