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INCOME CHANGE, UTILITY ANALYSIS: A disruption of consumer equilibrium identified with utility analysis caused by changes in the buyers' income, which results in a change in the quantities of the goods consumed. The change in buyers' income alters the income constraint and forces a reevaluation of the rule of consumer equilibrium.

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TWO-SECTOR, THREE-MARKET CIRCULAR FLOW

A circular flow model of the macroeconomy containing two sectors (business and household) and three markets (product, factor, and financial) that illustrates the continuous movement of the payments for goods and services between producers and consumers, with particular emphasis on saving, investment, and the role of financial markets. Other circular models are two-sector, two-market circular flow; three-sector, three-market circular flow; and four-sector, three-market circular flow.

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APLS

BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time at an auction wanting to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for rusty deck screws.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
"In a time of drastic change, it is the learners who inherit the future. "

-- Eric Hoffer, philosopher

PIH
Permanent Income Hypothesis
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