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ELASTIC: In general, if changes in variable A cause changes in variable B, then the relative change in B is greater than the relative change in A. In other words, small changes in variable A cause relatively larger changes in variable B. An elastic relationship between two variables is a very responsive, or stretchable, relationship. You should compare elastic with inelastic.
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PHYSICAL WEALTH, AGGREGATE DEMAND DETERMINANT One of several specific aggregate demand determinants assumed constant when the aggregate demand curve is constructed, and that shifts the aggregate demand curve when it changes. An increase in the physical wealth causes a decrease (leftward shift) of the aggregate curve. A decrease in the physical wealth causes an increase (rightward shift) of the aggregate curve. Other notable aggregate demand determinants include interest rates, federal deficit, inflationary expectations, and the money supply.
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"A ship ought not to be held by one anchor, nor life by a single hope. " -- Epictetus, philosopher
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ICCH
International Commodities Clearing House
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