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POLICIES: Government actions designed to affect economic activity and pursue one or more economic goals. Also called government or economic policies. The four common types of policies are: fiscal, monetary, regulatory, and judicial.
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BALANCED-BUDGET MULTIPLIER A measure of the change in aggregate production caused by equal changes in government purchases and taxes. The balanced-budget multiplier is equal to one, meaning that the multiplier effect of a change in taxes offsets all but the initial production triggered by the change in government purchases. This multiplier is the combination of the expenditures multiplier, which measures the change in aggregate production caused by changes in an autonomous aggregate expenditure, and the tax multiplier which measures the change in aggregate production caused by changes in taxes.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at an auction looking to buy either a package of 4 by 6 index cards, the ones with lines or a 50 foot extension cord. Be on the lookout for broken fingernail clippers.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"Life is a promise; fulfill it. " -- Mother Teresa, humanitarian
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RJE
RAND Journal of Economics
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