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QUASI-PUBLIC: A good or activity that is some, but not all characteristics of a public good or activity. The term quasi-public is often used in connection with business activities that are privately controlled, but which are authorized by government legislation. The Federal National Mortgage Association is one example. Quasi-public is also commonly used in reference to goods that have one but not both of the key characteristics of a public good--nonrival consumption or nonexcludability of nonpayers. Information are transportation examples of quasi-public goods in which nonpayers can be excluded from use (like a private good) but are nonrival in consumption (like a public good).
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LEAKAGES LINE A graphical representation of the relation between the level of aggregate production and one or more leakages. The three leakages (non-consumption uses of the income generated from aggregate production) are saving, taxes, and imports. The leakages line sequentially adds, or layers, each of these three uses of income depending on the number of sectors used in the analysis (two, three, or four). The slope of the leakages line depends on which if any of the uses of income are induced by aggregate production. The leakages line is combined with the injections line (containing investment expenditures, government purchases, and exports) in the Keynesian injections-leakages model.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a 50 foot extension cord or a combination CD player, clock radio, and telephone (with answering machine). Be on the lookout for high interest rates.
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This isn't me! What am I?
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More money is spent on gardening than on any other hobby.
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"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail. " -- Napoleon Hill, author
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WTO
World Trade Organization
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