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INFLATIONARY GAP, KEYNESIAN MODEL: The difference between equilibrium aggregate production achieved in the Keynesian model and full-employment aggregate production that occurs when equilibrium aggregate production is greater than full-employment aggregate production. An inflationary gap, also termed an expansionary gap, is associated with a business-cycle expansion. The prescribed Keynesian remedy for an inflationary gap is contractionary fiscal policy. This is one of two alternative output gaps that can occur when equilibrium generates production that differs from full employment. The other is a recessionary gap.
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PURPLE SMARPHIN
Your compete MICRO*scope for today
You are the type of person who knows everything that needs to be known about a product before making a purchase. Family and friends get irritated when you explain, for the umpteenth time, the difference between a partial derivative and a total derivative. Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for strangers with large satchels of used undergarments. You should consider shopping at stores or businesses beginning with the letter R, but do not buy any products with a serial number or product code containing the number 022367. 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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MARKET SHARE The fraction of an industry's total sales or some other activity accounted for by one or more firms in the industry. An individual firm is often concerned with its "share of the market" as an indication of "success." Market share is also key to the analysis of market structure, market control, and industry concentration--especially for oligopoly. It can be used to indicated the degree concentration and market control of one or more firms in an industry. It can be used alone or to calculate concentration ratios and the Herfindahl index.
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A Careful View Of WORKER SAFETYIt was THE most exciting baseball game in the long rivalry between the Shady Valley Primadonnas and the Oak Town Sludge Puppies. Two out, two on, the bottom of the ninth, the home team down by a run, and Harold "Hair Doo" Dueterman -- the Primadonnas' star center fielder -- up to bat. What excitement. What drama. Unfortunately Hair Doo hit the ball directly at the Primadonnas' runner on first. A line shot to the head. The runner was out. He was also unconscious. Game over. That was not the end to the excitement, though. Chucky Calhoun, the peanut vendor, was inadvertently decked by an enthusiastic fan and suffered a number of injuries as he tumbled down some concrete steps. Chucky, who has made repeated complaints to the Primadonnas owner (D. J. Goodluck) about unsafe working conditions, has filed a workers' compensation claim. What a mess. Too bad Hair Doo just didn't strike out like he usually does.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"He, who every morning plans the transactions of the day, and follows that plan, carries a thread that will guide him through a labyrinth of the most busy life." -- Victor Hugo, Writer
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EER European Economic Review
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