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July 22, 2026 

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ABSTRACTION METHODS: Abstraction is the process of simplifying the complexities of the real world by ignoring (hopefully) unimportant details, especially (for our purposes) while doing economic analysis. Three common methods of actual, real world abstraction used in economic theories are words, graphs, and equations. Words can be misunderstood. Graphs are a little more precise. And equations tend to be the most precise of the three.

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MACROECONOMIC SECTORS

The four aggregate sectors of the macroeconomy--household, business, government, and foreign--that reflect four key macroeconomic functions and are responsible for four expenditures on gross domestic product. These four sectors are the primary "actors" on the macroeconomic stage. Macroeconomic theories then explain macroeconomic phenomena by exploring the interaction among these four sectors.

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GREEN LOGIGUIN
[What's This?]

Today, you are likely to spend a great deal of time wandering around the downtown area wanting to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for infected paper cuts.
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This isn't me! What am I?

Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
"You can't build a reputation on what you are going to do."

-- Henry Ford, automaker

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