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PHYSICAL FLOW: In the circular flow, the counter-clockwise transfer of goods and services from the business sector to the household sector and the transfer of resource services from the household sector to the business sector. The payment flow moves in the opposite direction. The physical flow, the physical movement of goods and services, is the foundation of the economy's circular flow. The fundamental problem of scarcity is addressed by physically transforming scarce resources into goods and services that are then used to satisfy wants and needs.
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AGGREGATE DEMAND The total real expenditures on final goods and services produced in the domestic economy that buyers are willing and able to undertake at different price levels, during a given time period (usually a year). Aggregate demand, usually abbreviated AD, is an inverse relation between price level and aggregate expenditures. This is one half of the AS-AD (aggregate market) analysis. The other half is aggregate supply. Aggregate demand consists of four aggregate expenditures--consumption expenditures, investment expenditures, government purchases, and net exports--made by the four macroeconomic sectors--household, business, government, and foreign.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either a case for your designer sunglasses or arch supports for your shoes. Be on the lookout for strangers with large satchels of used undergarments.
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"The human race has only one really effective weapon and that is laughter." -- Mark Twain
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NORC
National Opinion Research Center
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