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T-ACCOUNT: A handy little diagram used to illustrate changes in the assets and liabilities of a bank's balance sheet. A T-account, so named because or its perpendicular lines that look like a T, represents changes in assets on the left and changes in liabilities and net worth on the right.
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AGGREGATE DEMAND DECREASE, SHORT-RUN AGGREGATE MARKET A shock to the short-run aggregate market caused by a decrease in aggregate demand, resulting in and illustrated by a leftward shift of the aggregate demand curve. A decrease in aggregate demand in the short-run aggregate market results in a decrease 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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ORANGE REBELOON
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Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a flower arrangement in a coffee cup for your father or a how-to book on meeting people. Be on the lookout for the happiest person in the room.
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John Maynard Keynes was born the same year Karl Marx died.
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"Wise men speak because they have something to say; Fools because they have to say something. " -- Plato, philosopher
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JLE
Journal of Law and Economics
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