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M1: The narrow-range monetary aggregate for the U.S. economy containing the combination of currency (and coins) issued by government and held by the nonbank public and checkable deposits issued by banking institutions. M1 contains the two items that function as THE medium of exchange for the U.S. economy. M1 is one of three monetary aggregates tracked and reported by the Federal Reserve System. The other two are designated M2 and M3.

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PERFECT COMPETITION, REVENUE DIVISION

The marginal approach to analyzing a perfectly competitive firm's short-run profit maximizing production decision can be used to identify the division of total revenue among variable cost, fixed cost, and economic profit. The U-shaped cost curves used in this analysis provide all of the information needed on the cost side of the firm's decision. The demand curve facing the firm (which is also the firm's average revenue and marginal revenue curves) provides all of the information needed on the revenue side.

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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time watching infomercials seeking to buy either a T-shirt commemorating yesterday or a pair of handcrafted oven mitts. Be on the lookout for jovial bank tellers.
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This isn't me! What am I?

John Maynard Keynes was born the same year Karl Marx died.
"I have no expectation of making a hit every time I come to bat. What I seek is the highest possible batting average."

-- President Franklin Delano Roosevelt

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