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INDUCED CHANGE: A change in aggregate expenditures, especially consumption expenditures, that is "induced" or triggered by a change in national income or gross domestic product. Induced changes form the foundation for the multiplier effect, which is set in motion by autonomous changes in aggregate expenditures. In terms of Keynesian economics and the Keynesian cross diagram, induced changes are seen as a movement along in the aggregate expenditures line. This two step process, autonomous changes causing induced changes, is key to explaining business cycle fluctuations.
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SELLERS' MARKET A disequilibrium condition in a competitive market that has a shortage or excess demand. Because the quantity demanded is greater than the quantity supplied, sellers have the "upper hand" when negotiating. A sellers' market also goes by the more common term of shortage. The alternative to a sellers' market is a buyers' market, which has a surplus or excess supply.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites seeking to buy either a pair of red and purple designer socks or a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"Rowing harder doesn't help if the boat is headed in the wrong direction. " -- Kenichi Ohmae, management consultant
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IRS
Internal Revenue Service
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