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MARGINAL REVENUE PRODUCT SCHEDULE: A table showing the relation between marginal revenue product and the quantity of variable input employed by a firm. Such a schedule can be used to derived the marginal revenue product curve.

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EXPANSIONARY FISCAL POLICY

A form of fiscal policy in which an increase in government purchases, a decrease in taxes, and/or an increase in transfer payments are used to correct the problems of a business-cycle contraction. The goal of expansionary fiscal policy is to close a recessionary gap, stimulate the economy, and decrease the unemployment rate. Expansionary fiscal policy is often supported by expansionary monetary policy. An alternative is contractionary fiscal policy.

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Today, you are likely to spend a great deal of time watching the shopping channel wanting to buy either a New York Yankees baseball cap or several magazines on home repairs. Be on the lookout for cardboard boxes.
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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