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VARIABLE: A quantity, usually represented as a symbol, that can take on one of a set of values. Variables play a key role in the scientific method and economic analysis. A major task undertaken by the study of economics is to identify the specific value of variables such as price, quantity, unemployment, production, wages, income, among a host of others. This often accomplished using assorted models, such as the market model.
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MARGINAL UTILITY OF INCOME The change in utility resulting from a given change in income. This is a specialized case of the general notion of marginal utility, which is simply the change in utility resulting from a given change in the consumption of a good. Marginal utility of income is key to identifying alternative risk preferences, including risk aversion, risk neutrality, and risk loving. These three risk preferences are indicated by three marginal utility of income possibilities, decreasing (risk aversion), increasing (risk loving), and constant (risk neutrality).
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center seeking to buy either a how-to book on surfing the Internet or a computer that can play music and burn CDs. Be on the lookout for vindictive digital clocks with revenge on their minds.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"Things turn out best for the people who make the best of the way things turn out." -- Art Linkletter
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AIBD
Association of International Bond Dealers (now called International Securities Market Association)
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