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GOVERNMENT DEBT: The total amount of all government securities outstanding. This is also frequently termed the public debt.

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PERFECT COMPETITION, DEMAND

The demand curve for the output produced by a perfectly competitive firm is perfectly elastic at the going market price. The firm can sell all of the output that it wants at this price because it is a relatively small part of the market. As a price taker, the firm has no ability to charge a higher price and no reason to charge a lower one. The market price facing a perfectly competitive firm is also average revenue and, most important, marginal revenue.

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APLS

GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time looking for a downtown retail store looking to buy either clothing for your kitty cats or a set of luggage without wheels. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?

Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
"Defeat is not the worst of failures. Not to have tried is the true failure."

-- George E. Woodberry, Author

JEL
Journal of Economic Literature
A PEDestrian's Guide
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