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AD VALOREM TAX: A tax that is specified as a percentage of value. Sales, income, and property taxes are three of the more popular ad valorem taxes devised by government. The total ad valorem tax paid increases with the value of what's being taxed.
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CIRCULAR FLOW A model of the continuous movement of production, income, and the services of scarce resources that flow between producers and consumers. In particular, the circular flow is a model of the continuous production and consumption interaction among the four major sectors of the macroeconomy--household, business, government, and foreign--using the three macroeconomic markets--product, resource, and financial. The circular flow model provides a easy way of getting the "big picture" and of seeing how the key parts of the macroeconomy fit together.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction looking to buy either a wall poster commemorating the moon landing or storage boxes for your winter clothes. Be on the lookout for telephone calls from long-lost relatives.
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During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.
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"Doing the best at this moment puts you in the best place for the next moment. " -- Oprah Winfrey, entrepreneur
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G10
Group of Ten
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