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SDR: The abbreviation for Special Drawing Rights, which is a system of accounts nations have with International Monetary Fund that are used to settle any balance of payments deficits. In essence, SDRs are simply an international currency that makes it easier to conduct all sorts of international transactions. In decades past, when gold was used as the primary international currency, any balance of payments deficits was paid with gold. However, in 1967 this system of SDRs was established in lieu of sending gold all over the globe.
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AGGREGATE EXPENDITURES EQUATION An equation that summarizes the four aggregate expenditures on gross domestic product by the four macroeconomic sectors. In the study of Keynesian economics, this equation is commonly used to summarize the demand side of the macroeconomy. The aggregate expenditures equation actually comes in three different versions depending on how many of the four sectors and their expenditures are included.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale wanting to buy either a coffee cup commemorating the moon landing or a how-to book on surfing the Internet. Be on the lookout for the happiest person in the room.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"Most battles are won before they are ever fought." -- General George Patton
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JEH
Journal of Economic History
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