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COMPLEX EXPENDITURE MULTIPLIER: The ratio of the change in aggregate output (or gross domestic product) to an autonomous change in an aggregate expenditure (consumption expenditures, investment expenditures, government purchases, or net exports) when all induced components are included in Keynesian analysis. This is the most comprehensive expenditure multiplier possible and includes not only the marginal propensity to consume/save, but also the marginal propensities for government purchases, investment, imports, and taxes. This should be compared with the simple expenditure multiplier that includes only induced consumption
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PURPLE SMARPHIN
Your compete MICRO*scope for today
You are the type of person who thinks of shopping as a necessity, but not the most important thing that you will do today. Family and friends often ask you to help them with crossword puzzles and product assembly instructions. Today, you are likely to spend a great deal of time watching infomercials trying to buy either a video game player or an AC adapter that won't fry your computer. Be on the lookout for telephone calls from former employers. You should consider shopping at stores or businesses beginning with the letter K, but do not buy any products with a serial number or product code containing the number 098442. Your preferred shopping venue is the Internet. Your special symbol is the exclamation point (!).
Is this You?
As a Purple Smarphin, you are the brightest and most intelligent person you know. And that goes for shopping, too. You know exactly what you want. You know exactly what it costs. You know exactly when and where to buy. But, of course, shopping is only one of the many activities that attracts your intellectual attention. You shop when you need to and buy if have to, but shopping is not the end all of your life.
This isn't me! What am I?
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TECHNICAL EFFICIENCY Obtaining the greatest possible production of goods and services from available resources. In other words, resources are not wasted in the production process. This is also considered as engineering efficiency and should be contrasted with economic or allocative efficiency.
Complete Entry | Visit the WEB*pedia |
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The Wide, Wide World Of FOREIGN TRADETwo blocks directly south of the Mega-Mart Discount Emporium we'll find that Natural Ned's Nursery and Garden Center is having a grand opening celebration. I'd like to saunter over to check out their sundials -- a valuable, and long sought after acquisition for my backyard garden. In fact, Natural Ned's Nursery and Garden Center has a new shipment of sundials imported from the sundial capital of the world -- the Republic of Northwest Queoldiola. If I'm going to get a sundial, I should get the best, right? Northwest Queoldiola produces the finest, least expensive, and most technologically advanced sundials in the world. However, Mega-Mart Discount Warehouse Super Center has an ample supply of good old American-made sundials. They're a little more expensive and not quite as good, but they're made in the U. S. of A. by good old Americans. What a dilemma!
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"Most human beings have an almost infinite capacity for taking things for granted. " -- Aldous Huxley, writer
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SPE
Subgame Perfect Equilibrium
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