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ADAM SMITH: A Scottish professor (born 1723, died 1790) who is considered the father of modern economics for his revolutionary book, entitled An Inquiry into the Nature and Causes of the Wealth of Nations published in 1776.
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RESOURCE PRICE, AGGREGATE SUPPLY DETERMINANT One of three categories of aggregate supply determinants assumed constant when the aggregate supply curve is constructed, and which shifts the aggregate supply curve when it changes. An increase in a resource price causes a decrease (leftward shift) of the short-run aggregate supply curve. A decrease in a resource price causes an increase (rightward shift) of the short-run aggregate supply curve. The other two categories of aggregate supply determinants are resource quantity and resource quality. Specific determinants falling into this general category include wages and energy prices. Anything affecting the prices paid for the use of labor, capital, land, and entrepreneurship is also included.
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PINK FADFLY
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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors hoping to buy either a bookshelf that will fit in your closet or a birthday greeting card for your grandfather. Be on the lookout for gnomes hiding in cypress trees.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"Most battles are won before they are ever fought." -- General George Patton
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