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NEEDS STANDARD: One of three basic income distribution standards (the other two are contributive standard and equality standard). The needs standard distributes income based on how many goods and services people require. A manual laborer, for example, who exerts more physical effort, would receive more income to buy more food that an office worker who burns fewer calories during the day. The U.S. welfare system primarily employs this needs standard when determining the poverty line and subsequent welfare payments.
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AVERAGE-MARGINAL RELATION A mathematical connection between a marginal value and the corresponding average value stating that the change in the average value depends on a comparison between the average and the marginal. This mathematical relation between average and marginal surfaces throughout the study of economics, especially production (average product and marginal product), cost (average total cost and marginal cost), and revenue (average revenue and marginal revenue). A similar relation is that between a total value and the corresponding marginal value.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet trying to buy either decorative garden figurines or a wall poster commemorating last Friday (you know why). Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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This isn't me! What am I?
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"When we do the best that we can, we never know what miracle is wrought in our life, or in the life of another." -- Helen Keller
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MSCI
Morgan Stanley Capital Index
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