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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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GOOD A physical, tangible item or product used to satisfy wants and needs. A good is produced using society's resources and represents a fundamental aspect of the economy. Limited resources are used to produced the goods that satisfy unlimited wants and needs in an ongoing effort to address the problem of scarcity.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either several orange mixing bowls or clothing for your pet dog. Be on the lookout for vindictive digital clocks with revenge on their minds.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"You are younger today than you will ever be again. Make use of it for the sake of tomorrow. " -- Norman Cousins, editor
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NLREG
Nonlinear Statistical Regression
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