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KILLER APPLICATION: A computer program that is so incredibly useful, popular, and profitable that the company responsible for development achieves enormous growth in a relatively short time period. Several computer companies developed killer applications during the 1980s and 1990s, which contributed greatly to the computer revolution. The Lotus 1-2-3 spreadsheet program was among the first, and perhaps most noted, killer applications. This program motivated millions of businesses and consumers in the early 1980ds to purchase personal computers.
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AGGREGATE SUPPLY The total (or aggregate) real production of final goods and services available in the domestic economy at a range of price levels, during a given time period. Aggregate supply, usually abbreviated AS, is two different relations between price level and real production--long run and short run. With long-run aggregate supply, prices and wages are flexible and all markets are in equilibrium. With short-run aggregate supply some prices and wage are NOT flexible and some markets are NOT in equilibrium. This is one half of the AS-AD (aggregate market) analysis. The other half is aggregate demand.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time at a flea market trying to buy either a large stuffed brown and white teddy bear or a replacement washer for your kitchen faucet. Be on the lookout for malfunctioning pocket calculators.
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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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"The creative is the place where no one else has ever been. the You have to leave the city of your comfort and go into wilderness of your intuition. What you'll discover will be wonderful. What you'll discover will be yourself." -- Alan Alda, Actor
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Wage
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