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TRADING BLOC: A group of countries that are economically intertwined, share some common cultural background, are located close together, and coordinate their foreign trade policies. There are three trading blocs of note, North America, Europe, and Asia, although other portions of the globe aspire to this status. The North American bloc centers around the good old U. S. of A. with Canada and Mexico playing increasingly important roles. The European bloc contains most of the Western Europe with leading roles played by Germany, Britain, and France. Japan is the center of the Asian bloc that includes Korea, Taiwan, Hong Kong, Malaysia, and several others.
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SLOPE, GOVERNMENT PURCHASES LINE The positive slope of the government purchases line is also termed the marginal propensity for government purchases (MPG). This slope is greater than zero but less than one, reflecting induced government purchases. The slope of the government purchases line affects the slope of the aggregate expenditures line and thus also affects the magnitude of the multiplier process.
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time strolling through a department store looking to buy either a how-to book on home decorating or a set of luggage with wheels. Be on the lookout for the happiest person in the room.
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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"As is our confidence, so is our capacity. " -- William Hazlitt, essayist
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APR
Annual Percentage Rate
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