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HORIZONTAL EQUITY: A system of taxes that treats equal people equally. In other words, if you make the same income as someone else and pay the same personal income taxes, then you have horizontal equity.
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AGGREGATE DEMAND INCREASE, LONG-RUN AGGREGATE MARKET A shock to the long-run aggregate market caused by an increase in aggregate demand resulting in and illustrated by a rightward shift of the aggregate demand curve. An increase in aggregate demand in the long-run aggregate market results in an increase in the price level but no change in real production. The level of real production resulting from the aggregate demand shock is full-employment real production.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club hoping to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for crowded shopping malls.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"When your values are clear to you, making decisions becomes easier. " -- Roy Disney, executive
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CES
Constant Elasticity of Substitution
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