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MARGINAL PROPENSITY FOR GOVERNMENT PURCHASES: The proportion of each additional dollar of national income that is used for government purchases. Or alternatively, this is the change in government purchases due to a change in national income. Abbreviated MPG, the marginal propensity for government purchases is the slope of the government purchases line used in the analysis of Keynesian economics. As such, it also plays a role in the slope of the aggregate expenditure line and the multiplier effect.
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PROPRIETORSHIP A business organization that is owned and operated by one person. The owner and the business are legally considered one and the same. As such, the owner receives any and all profit and is responsible for any and all debts, what is termed unlimited liability. A proprietorship is one of the three basic forms of business organization. The other two are partnership and corporation. A large number of proprietorships exist in the economy, but they tend to be relatively small operations.
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GRAY SKITTERY [What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a computer that can play video games and burn DVDs or a black duffle bag with velcro closures. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity. Your Complete Scope
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Three-forths of the gold mined each year is used to manufacture jewelry.
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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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JPE Journal of Political Economy
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