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AMERICAN ASSOCIATION OF UNIVERSITY PROFESSORS: An association of university and college faculty established in 1915 to protect academic freedom. Commonly abbreviated AAUP, this association is the closest thing university faculty have to a labor union. While it does engage in some collective bargaining functions with specific universities, similar to traditional labor unions, its primary function is to ensure that faculty maintain intellectual or academic freedom from political of social pressures.

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Lesson 12: Business Cycles | Unit 4: Causes Page: 18 of 26

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

Instability of business investment is one explanation of business cycles.
  • During the Great Depression, production declined by 40% and investment declined by over 90%. Did this big drop in investment cause the overall drop in production?
  • Investment can trigger changes in production through the circular flow. A decrease in investment, causes a decrease in production, which reduces household income, which reduces consumption, which causes further reductions in production, income, and consumption.
  • Small changes in investment can cause magnified changes in aggregate production. A $10 billion decrease in investment might cause a $50 billion decrease in GDP.

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INFORMATION SEARCH

The decision to seek out or produce information based on a comparison of the cost of acquiring the information and the benefit obtained from the information. Efficient information search is achieved with a equality between the marginal cost of search and the marginal benefit of search. Because the marginal cost of search is invariably greater than zero, search effort stops short of acquiring complete information.

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APLS

BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for letters from the Internal Revenue Service.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
"Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success. "

-- Pablo Picasso, artist

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