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INDEPENDENT VARIABLE: A variable that is identified outside the workings of the model. Also termed an exogenous variable, an independent variable is in essence the "input" of the model. It should be compared with an endogenous variable this is the "output" of the model.
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AUTONOMOUS GOVERNMENT PURCHASES Government purchases by the government sector that do not depend on income or production (especially national income or gross domestic product). That is, changes in income do not generate changes in government purchases. Autonomous government purchases are best thought of as government purchases that the government sector undertake independent of income. They are measured by the intercept term of the government purchases line. The alternative to autonomous government purchases is induced government purchases, which do depend on income.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store seeking to buy either a coffee cup commemorating the first day of winter or a video game player. Be on the lookout for attractive cable television service repair people.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"Look at everything as though you were seeing it either for the first or last time. Then your time on earth will be filled with glory." -- Betty Smith, Novelist
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WTO
World Trade Organization
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