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RECOVERY: A early expansionary phase of the business cycle shortly after a contraction has ended, but before a full-blown expansion begins. During a recovery, the unemployment rate remains relatively high, but it is beginning to fall. Real gross domestic product has begun to increase, usually rapidly. However, because the contraction remains fresh in the minds of many, it may not be immediately clear that the trough of the contraction has been reached.
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CONSUMPTION FUNCTION A mathematical relation between consumption and income by the household sector. The consumption function can be stated as an equation, usually a simple linear equation, or as a diagram designated as the consumption line. This function captures the consumption-income relation that forms one of the key building blocks for Keynesian economics. The two key parameters of the consumption function are the intercept term, which indicates autonomous consumption, and the slope, which is the marginal propensity to consume and indicates induced consumption. Aggregate expenditures used in Keynesian economics are derived by adding investment, government purchases, and net exports to the consumption function.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a lighted magnifying glass or a small, foam rubber football. Be on the lookout for high interest rates.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"Don't be afraid of the space between your dreams and reality. If you can dream it, you can make it so." -- Belva Davis, Journalist
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GEB
Games and Economic Behavior
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