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GOVERNMENT POLICIES: Government actions designed to affect economic activity and pursue one or more economic goals. Also called economic policies. The four common types of government policies are: fiscal, monetary, regulatory, and judicial.

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AVERAGE REVENUE CURVE, MONOPOLY

A curve that graphically represents the relation between average revenue received by a monopoly 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 monopoly's output.

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Today, you are likely to spend a great deal of time at an auction wanting to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for mail order catalogs with hidden messages.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
"Enthusiasm is the greatest asset in the world. It beats money and power and influence. It is no more or less than faith in action. "

-- Henry Chester, Writer

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