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PHYSICAL WEALTH, AGGREGATE DEMAND DETERMINANT: One of several specific aggregate demand determinants assumed constant when the aggregate demand curve is constructed, and that shifts the aggregate demand curve when it changes. An increase in the physical wealth causes a decrease (leftward shift) of the aggregate curve. A decrease in the physical wealth causes an increase (rightward shift) of the aggregate curve. Other notable aggregate demand determinants include interest rates, federal deficit, inflationary expectations, and the money supply.
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BABY BOOMER: A citizen of the good old U. S. of A. born between the years 1946 and 1960. These Boomers represent a relatively large segment of the population and outnumber any other group born during a similar period, such as those born from 1931 to 1945 or from 1961 to 1975. Over the years, they've tended to set the standard for consumption, production, and politics. They have had and will continue to have a big impact on the Social Security system. As labor, they've provided an amble pool of tax funds and thus sizable benefits to Social Security recipients during the 1980s and 1990s. When these Boomers retire in the 2020s and beyond, however, they will leave a big gap in the labor force and also demand a great deal from the Social Security system. See also | consumption | production | Social Security | labor | tax | labor force |
Recommended Citation:BABY BOOMER, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: May 4, 2024].
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SCIENTIFIC METHOD A structured way of investigating and explaining the operation of the world by testing and verifying hypothesized relations. The scientific method is a process of discovery, a method of explaining the way the world operates. Positive economics is the application of the scientific method to economic analysis.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials hoping to buy either a weathervane with a cow on top or a box of multi-colored, plastic paper clips. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"My father used to say to me, „Whenever you get into a jam, whenever you get into a crisis or an emergency . . .become the calmest person in the room and you'll be able to figure your way out of it. " -- Rudolph Giuliani
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BOP
Balance of Payments
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