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ADJUSTMENT, LONG-RUN AGGREGATE MARKET: Disequilibrium in the long-run aggregate market induces changes in the price level that restore equilibrium. If the price level is above the long-run equilibrium price level, economy-wide product market surpluses cause the price level to fall. If the price level is below the long-run equilibrium price level, economy-wide product market shortages cause the price level to rise. In both cases long-run equilibrium is restored. Price level changes induce changes in aggregate expenditures but NOT changes in real production. The reason is that long-run aggregate supply is full-employment real production, which is unaffected by the price level.
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AmosWEB LLC ("AmosWEB") World Wide Web Terms of Use Agreement 1. ACCEPTANCE OF TERMSWelcome to AmosWEB. AmosWEB is owned and operated by AmosWEB LLC, which provides the service to you, subject to the following Terms of Use ("TOU"). AmosWEB reserves the right to change, modify, add, or remove portions of these TOU at any time. Please check this page periodically for any modifications. Changes are effective immediately upon posting, and may be applied retroactively at the discretion of AmosWEB. Your use of this site following the posting of any changes constitutes your acceptance of the changes. 2. DESCRIPTION OF SERVICEAmosWEB currently provides users with access to AmosWEB economics reference materials (the "Service"). Unless explicitly stated otherwise, any new features that augment or enhance the current Service, including the release of new AmosWEB products and/or services, shall be subject to the TOU. You understand and agree that the Service is provided "AS-IS" and that AmosWEB assumes no responsibility for the timeliness, deletion, mis-delivery or failure to store any user communications.
In order to use the Service, you must obtain access to the World Wide Web, either directly or through devices that access web-based content, and pay any service fees associated with such access. In addition, you must provide all equipment necessary to make such connection to the World Wide Web, including a computer and modem, or other access device. 3. YOUR REGISTRATION OBLIGATIONSIn consideration of your use of the Service, you agree to: (a) provide true, accurate, current and complete information about yourself as prompted by any AmosWEB form (such information being the "Registration Data") and (b) maintain and promptly update the Registration Data via email to keep it true, accurate, current and complete. If you provide any information that is untrue, inaccurate, not current or incomplete, or AmosWEB has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, AmosWEB has the right to refuse any and all current or future use of the Service (or any portion thereof), and you hereby waive rights to any refund. 4. INDEMNITYYou agree to indemnify and hold AmosWEB, and its subsidiaries, affiliates, officers, agents, co-branders or other partners, and employees, harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of Content you submit, post to or transmit through the Service, your use of the Service, your connection to the Service, your violation of the TOU, or your violation of any rights of another. 5. NO RESALE OF SERVICEYou agree not to reproduce, duplicate, copy, sell, resell, or exploit for any commercial purposes, any portion of the Service, use of the Service, or access to the Service. 6. MODIFICATIONS TO SERVICEAmosWEB reserves the right at any time and from time to time to modify or discontinue, temporarily or permanently, the Service (or any part thereof) with or without notice. You agree that AmosWEB shall not be liable to you or to any third party for any modification, suspension, or discontinuance of the Service. 7. TERMINATIONYou agree that AmosWEB, in its sole discretion, may terminate your password, account (or any part thereof), or use of the Service, for any reason if AmosWEB believes that you have violated or acted inconsistently with the letter or spirit of the TOU. AmosWEB may also in its sole discretion and at any time discontinue providing the Service, or any part thereof, with or without notice. You agree that any termination of your access to the Service under any provision of this TOU may be effected without prior notice, and acknowledge and agree that AmosWEB may immediately deactivate or delete your account and/or bar any further access to the Service. Further, you agree that AmosWEB shall not be liable to you or any third-party for any termination of your access to the Service. 8. AmosWEB's PROPRIETARY RIGHTSYou acknowledge and agree that the Service contains proprietary and confidential information that is protected by applicable intellectual property and other laws. Except as expressly authorized by AmosWEB, you agree not to modify, rent, lease, loan, sell, distribute or create derivative works based on the Service, in whole or in part.
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SHUTDOWN RULE A rule stating that a firm minimizes economic loss by producing no output in the short run if price is less than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and loss minimization (if price is less than average total cost but greater than average variable cost).
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Stealing A Few Moments For CRIME Like most consumers, workers, and taxpayers, I engage in market exchanges for a lot of stuff -- food, labor, shelter, entertainment, confectionery products. But as I wandered through the peaceful community of Shady Valley, U. S. of A., I entered a "market" that I would have rather avoided. That's right, as the title indicates, I exchange some crime. I was mugged -- relieved of several valuable possessions -- right in front of the Shady Valley police station. I did the selling and my mugger did the "buying." While my part in the exchange was involuntary, the mugger's part was quite voluntary. In fact, the perpetrator of this crime acted much like any consumer headed to Natural Ned's Nursery and Garden Center in search of a creeping juniper. Let's see why?
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GREEN LOGIGUIN [What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius seeking to buy either a how-to book on building remote controlled airplanes or an extra large beach blanket. Be on the lookout for poorly written technical manuals. Your Complete Scope
This isn't me! What am I?
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The average bank teller loses about $250 every year.
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"If you don't know where you are going, any road will get you there." -- Lewis Carroll, writer
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WFTU World Federation of Trade Unions
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