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CAPITAL INVESTMENT: The acquisition of capital goods at the expense of consumption goods. This commonly goes by the shorter phrase "investment." Both mean essentially the same. The addition of capital merely serves to emphasize that the investment act is in fact resulting in the acquisition of capital goods.
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AXIOM A basic precondition or assumption underlying a theory. Axioms are basic, unverifiable world view assumptions--including personal beliefs, political views, and cultural values--that form the foundation of a theory.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"The first responsibility of a leader is to define reality. " -- Max DePree, executive
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CPI-U Consumer Price Index-All Urban Consumers
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