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PAPER ECONOMY: Markets, exchanges, and assorted economic activity that deal with legal or paper claims on physical assets rather than the physical assets. The vast majority of activities for the paper economy take place through financial markets. The paper (or financial) economy is based legal claims on these physical goods and resources. The term paper economy is used because these legal claims historically have been pieces of paper--paper that you can't eat, wear, or live in to satisfy wants and needs. However, as technology progresses, much of the paper is giving way to electronic data storage.
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AUTONOMOUS INVESTMENT Business investment expenditures that do not depend on income or production (especially national income or even gross domestic product). That is, changes in income do not generate changes in investment. Autonomous investment is best thought of as investment that the business sector undertakes regardless of the state of the economy. It is measured by the intercept term of the investment line. The alternative to autonomous investment is induced investment, which does depend on income.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs wanting to buy either a birthday gift for your aunt or a pair of leather sandals that won't cause blisters. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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A half gallon milk jug holds about $50 in pennies.
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"Work is an extension of personality. It is achievement. It is one of the ways in which a person defines himself, measures his worth ‚ and his humanity. " -- Peter Drucker, author
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