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INDUCED: The general notion that changes in one variable are related to, or caused by, changes in another variable. Induced relations, especially changes in consumption expenditures are induced by changes in disposable income, are a key aspect of Keynesian economics and the multiplier effect. The alternative to an induced relation between variables is an autonomous relation, in which one variable is not related to another.
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AVERAGE REVENUE CURVE, MONOPOLISTIC COMPETITION A curve that graphically represents the relation between average revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a monopolistically competitive firm's output.
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BROWN PRAGMATOX [What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads looking to buy either an AC adapter that won't fry your computer or a case for your designer sunglasses. Be on the lookout for jovial bank tellers. Your Complete Scope
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"Well done is better than well said. " -- Benjamin Franklin, statesman, inventor
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DBD Declining Balance Depreciation
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