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January 23, 2018 

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FALLACY OF MASS APPEAL: The logical fallacy of arguing that something is "correct" or "true" because a majority of the population thinks so. This is commonly used by both advertisers and politicians. Just because something is popular, doesn't mean it's "right." In fact, a cynic might argue that being popular probably makes it "wrong."

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Lesson 13: Aggregate Demand | Unit 1: The Concept Page: 2 of 22

Topic: Circular Flow <=PAGE BACK | PAGE NEXT=>

Aggregate demand and the aggregate market are all about the flow of production through the product markets of the circular flow.

The circular flow is the continuous flow of production, income, and resources between households and businesses.

  • Businesses acquire the services of productive factors through the factor markets
  • Households acquire the resulting production from businesses through the product markets
  • The aggregate market combines all of the individual markets for individual goods and services into a overall, comprehensive, complete, aggregate product market.
  • This is the demand side of the aggregate market.

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L

A broad monetary measure that combines M3 plus several liquid assets, including commercial paper, U.S. Treasury bills, savings bonds, and bankers' acceptances. L used to be tracked and reported by the Federal Reserve System along with M1, M2, and M3. However, L is no longer reported.

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APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either a wall poster commemorating yesterday or pink cotton balls. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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This isn't me! What am I?

In the early 1900s around 300 automobile companies operated in the United States.
"Lead the life that will make you kindly and friendly to everyone about you, and you will be surprised what a happy life you will lead."

-- Charles M. Schwab

NAIRU
Non-Accelerating Inflation Rate of Unemployment
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