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G-20: In 1999, the Finance Ministers of the Group of Seven (G-7) leading industrialized nations announced the creation of the Group of Twenty (G-20). This international forum of Finance Ministers and Central Bank Governors represents 19 countries, the European Union and the Bretton Woods Institutions (the International Monetary Fund -IMF-- and the World Bank). The G-20 promotes discussion, and studies and reviews policy issues among industrialized countries and emerging markets with a view to promoting international financial stability. Member countries include: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Korea, Turkey, the United Kingdom, the United States and the European Union.

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AGGREGATE SUPPLY DECREASE, SHORT-RUN AGGREGATE MARKET

A shock to the short-run aggregate market caused by a decrease in aggregate supply, resulting in and illustrated by a leftward shift of the short-run aggregate supply curve. A decrease in aggregate supply in the short-run aggregate market results in an increase in the price level and a decrease in real production. The level of real production resulting from the shock can be greater or less than full-employment real production.

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Today, you are likely to spend a great deal of time strolling through a department store trying to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for small children selling products door-to-door.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
"Success is going from failure to failure without a loss of enthusiasm. "

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