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AGGREGATE EXPENDITURE EQUATION: An equation indicating that aggregate expenditures (AE) are the sum of consumption expenditures (C), investment expenditures (I), government purchases (G), and net exports (X-M), stated as: AE = C + I + G + (X-M). This equation surfaces in the Keynesian economic income-expenditure model in the form of the aggregate expenditures line. However, it's also central throughout the study of macroeconomics, including aggregate demand and the measurement of gross domestic product.
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AXIOM: A basic precondition or assumption underlying a theory. Axioms are basic, unverifiable world view assumptions, including personal beliefs, political views, and cultural values, that form the foundation of a theory. These axioms can not be verified with real world data, and as such are largely accepted on faith. Belief in a supreme, omnipotent, omniscience being is one such axiom. The notion that people are basically good (or bad) is another. The presumption that the universe abides by cause-and-effect relationships is a key axiom for science. See also | assumption | theory | world view | cause and effect | science | scientific method | economic analysis | Recommended Citation:AXIOM, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: May 12, 2024]. AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: axiom
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PERFECT COMPETITION, TOTAL ANALYSIS A perfectly competitive firm produces the profit-maximizing quantity of output that generates the greatest difference between total revenue and total cost. This total approach is one of three methods that used to determine the profit-maximizing quantity of output. The other two methods involve the direct analysis of economic profit or a comparison of marginal revenue and marginal cost.
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RED AGGRESSERINE [What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center trying to buy either decorative garden figurines or a wall poster commemorating last Friday (you know why). Be on the lookout for a thesaurus filled with typos. Your Complete Scope
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"The tragedy of life is not so much what men suffer, but rather what they miss. " -- Thomas Carlyle, Historian
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APC Average Propensity to Consume
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