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THREE QUESTIONS OF ALLOCATION: The three basic questions that an economy must answer because of limited resources and unlimited wants and needs are: What? How? and For Whom? The basic problem of scarcity requires every society to determine: What goods to produce? How to produce the goods? and Who receives the goods that are produced?
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POLITICAL BUSINESS CYCLES The notion that business cycles are caused by elected government leaders who manipulate the economy to achieve personal political goals, that is, to be re-elected and remain in office. The leaders stimulate the economy leading up to an election, creating a business-cycle expansion that ensures (they hope) re-election, they then induce a business-cycle contraction after the election to correct problems created by the pre-election stimulation. This explanation suggests that government is the source of business cycles are should not be allowed to implement discretionary stabilization policies.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either a toaster oven that has convection cooking or a birthday gift for your mother. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"When I stand before God at the end of my life, I would hope that I would not have a single bit of talent left, and could say, „I used everything you gave me.¾" -- Erma Bombeck, writer
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BA
Bank Acceptance
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