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COMPLEX EXPENDITURE MULTIPLIER: The ratio of the change in aggregate output (or gross domestic product) to an autonomous change in an aggregate expenditure (consumption expenditures, investment expenditures, government purchases, or net exports) when all induced components are included in Keynesian analysis. This is the most comprehensive expenditure multiplier possible and includes not only the marginal propensity to consume/save, but also the marginal propensities for government purchases, investment, imports, and taxes. This should be compared with the simple expenditure multiplier that includes only induced consumption
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MONOPOLISTIC COMPETITION, ADVERTISING Advertising is commonly used by firms operating under monopolistic competition as a way to create product differentiation and thus to acquire some degree of market control and thus charge a higher price.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"The way to gain a good reputation is to endeavor to be what you desire to appear. " -- Socrates, philosopher
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ICCH
International Commodities Clearing House
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