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KILLER APPLICATION: A computer program that is so incredibly useful, popular, and profitable that the company responsible for development achieves enormous growth in a relatively short time period. Several computer companies developed killer applications during the 1980s and 1990s, which contributed greatly to the computer revolution. The Lotus 1-2-3 spreadsheet program was among the first, and perhaps most noted, killer applications. This program motivated millions of businesses and consumers in the early 1980ds to purchase personal computers.
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THREE-SECTOR KEYNESIAN MODEL A Keynesian model of the macroeconomy that includes the three domestic sectors, the household sector, the business sector, and the government sector. This Keynesian model variation adds the government sector (or public sector) to the household and business sectors that make up the two-sector model. This model enables an analysis of government stabilization policies, especially how fiscal policy changes in government purchases and taxes can be used to close recessionary gaps and inflationary gaps. Equilibrium is identified as the intersection between the C + I + G line and the 45-degree line. Two related models are the two-sector Keynesian model and the four-sector Keynesian model.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store 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 door-to-door salesmen.
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Lombard Street is London's equivalent of New York's Wall Street.
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"My philosophy of life is that if we make up our mind what we are going to make of our lives, then work hard toward that goal, we never lose - somehow we win out." -- President Ronald Reagan
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GARP
Generalized Axioms of Revealed Preference
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