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NET-EXPORT EFFECT: A change in aggregate expenditures on real production, especially net exports through the foreign sector, that results because a change in the price level alters the relative prices of exports and imports. The net-export effect, also termed the international-substitution effect, is one of three effects underlying the negative slope of the aggregate demand curve associated with a movement along the aggregate demand curve and a change in aggregate expenditures. The other two are real-balance effect and interest-rate effect.

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Lesson 12: Business Cycles | Unit 3: Measurement Page: 14 of 26

Topic: Coincident <=PAGE BACK | PAGE NEXT=>

Coincident economic indicators move along with the aggregate economy. They mark the business cycle.
  • We don't know how the economy is doing until after the fact. Real GDP is released every three months. Coincident indicators are available monthly.
  • The four coincident indicators are measures of production, employment, income, and sales.
  • The Composite Index of Coincident Indicators, displayed in the graph, combines all four. Turns in this index mark business cycle peaks and troughs.
  • Leading and coincident indicators work together. Leading indicators forecast turning points. Coincident indicators turn 3 to 12 months later.

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INELASTIC SUPPLY

The general elasticity relation in which relatively large changes in price cause relatively small changes in quantity supplied. Large changes in price cause relatively small changes in quantity supplied or the percentage change in quantity supplied is smaller than the percentage change in price. This characterization of elasticity is most important for the price elasticity of supply. Inelastic supply is one of two general elasticity relations for supply. The other is elastic supply.

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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
"You have to find something that you love enough to be able to take risks, jump over the hurdles and break through the brick walls that are always going to be placed in front of you. If you don't have that kind of feeling for what it is you're doing, you'll stop at the first giant hurdle. "

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