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ZERO-SUM GAME: A situation in which a fixed amount is divided up among the winners and losers. In a zero-sum game the wins equal the losses. Many stock market, or financial market, exchanges are zero-sum. One person buys low and sells high, while another buys high and sells low. The wealth in such transactions are merely transferred from one person to another. "Productive" market transactions, in contrast, are not zero-sum. The act of producing goods and services from resources that are consumed to satisfy wants and needs results in a net gain to society.
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INJECTIONS LINE A graphical representation of the relation between the level of aggregate production and one or more injections. The three injections (non-consumption expenditures on aggregate production) are investment expenditures, government purchases and exports. The injections line sequentially adds, or layers, each of these three expenditures depending on the number of sectors used in the analysis (two, three, or four). The slope of the injections line depends on which if any of the expenditures are induced by aggregate production. The injections line is combined with the leakages line (containing saving, taxes, and imports) in the Keynesian injections-leakages model.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex trying to buy either a cell phone case or a pair of designer sunglasses. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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John Maynard Keynes was born the same year Karl Marx died.
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"It is only our deeds that reveal who we are. " -- Carl Jung, psychiatrist
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AAT
Association of Accounting Technicians
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