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RELATIVELY INELASTIC: An elasticity alternative in which relatively large changes in price cause relatively small changes in quantity. In other words, quantity is not very responsive to price. Relatively inelastic should be compared with other elasticity alternatives--relatively elastic, perfectly inelastic, perfectly elastic, and unit elastic.
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SAVING-INVESTMENT MODEL A variation of the Keynesian injections-leakages model that includes the two private sectors, the household sector and the business sector. This variation, more formally termed the two-sector injections-leakages model, captures the interaction between induced saving (and indirectly induced consumption expenditures) and autonomous investment expenditures. This model provides an alternative to the two-sector aggregate expenditures (Keynesian cross) analysis of the macroeconomy, including equilibrium, disequilibrium, and the multiplier. Equilibrium is identified as the intersection between the saving line and the investment line. Two related variations are the three-sector injections-leakages model and the four-sector injections-leakages model.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store seeking to buy either a T-shirt commemorating yesterday or a pair of handcrafted oven mitts. Be on the lookout for defective microphones.
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This isn't me! What am I?
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"Anyone who has never made a mistake has never tried anything new. " -- Albert Einstein, physicist
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MGE
Minneapolis Grain Exchange
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