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NET EARNINGS: A common term for profit, as the difference between total revenue and total cost. When used in the real world of business wheeling and dealing, this notion of net income generally refers to accounting profit rather than economic profit. The "net" aspect of net earnings indicates that some (that something being cost) is deducted from total or "gross" earnings. Other common terms used in this same context are net revenue and net income.

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QUANTITY DEMANDED

The specific quantity of a good that buyers are willing and able to buy at a specific demand price. The key word is "specific." Quantity demanded and demand price form matched pairs--one quantity, one price. The combination of all price-quantity pairs is then what constitutes demand. The demand curve is a plot of the quantity demanded at each demand price.

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Today, you are likely to spend a great deal of time at an auction hoping to buy either any book written by Stephan King or a T-shirt commemorating next Thursday. Be on the lookout for defective microphones.
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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.
"The tragedy of life is not so much what men suffer, but rather what they miss. "

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