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OAS: (Organization of American States ) In 1948, 21 nations of the hemisphere met in Bogota, Colombia, to adopt the Charter of the Organization of American States (OAS). Since then, the OAS has expanded to include the nations of the Caribbean, as well as Canada. Currently, all 35 independent countries of the Americas have ratified the OAS Charter and belong to the Organization. Cuba remains a member, but its government has been excluded from participation in the OAS since 1962. The OAS is the region's premier political forum for multilateral dialogue and action. Among OAS' major goals they work for strengthening freedom of speech and thought as a basic human right, promoting greater participation by civil society in decision-making at all levels of government, improving cooperation to address the problem of illegal drugs and supporting the process to create a Free Trade Area of the Americas.

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Lesson 12: Business Cycles | Unit 1: Instability Page: 3 of 26

Topic: Expansionary Good Times <=PAGE BACK | PAGE NEXT=>

Expansionary good times are almost always good. But here is a bad side.
  • The good side: The economy is growing, more goods are produced, living standards rise, businesses are profitable, and scarcity problems are lessened.
  • The bad side: Inflation and inefficiency.
  • Inflation tends to worsen when the economy expands too rapidly. Inflation is usually a bigger problem for some than for others, including those on fixed incomes and with financial wealth.
  • Inefficiency is likely during an expansion. With the entire economy expanding, and everyone becoming better off, the incentive to be efficient is reduced.

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MARGINAL REVENUE CURVE

A curve that graphically represents the relation between the marginal revenue received by a firm for selling its output and the quantity of output sold. A firm maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve. The marginal revenue curve for a firm with no market control is horizontal. The marginal revenue curve for a firm with market control is negatively sloped and lies below the average revenue curve.

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APLS

GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time strolling through a department store looking to buy either a set of serrated steak knives, with durable plastic handles or a pair of blue silicon oven mitts. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?

The average length of a "business lunch" is about 36 minutes.
"Good judgment comes from experience, and often experience comes from bad judgment."

-- Rita Mae Brown ‚ Writer

VIR
Variable Interest Rate
A PEDestrian's Guide
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