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S&P 500: The abbreviation for the Standard & Poor's 500, an index of the prices of 500 corporate stocks traded on the New York Stock Exchange. It includes an assortment of stocks for industrial, transportation, and utility companies. It also includes a larger number of stocks than the comparable Dow Jones composite index, which means it's often considered a better measure of the overall performance of the stock market. Less commonly publicized are separate Standard & Poor's indexes for industrial, transportation, utility, and financial stocks.

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Lesson 13: Aggregate Demand | Unit 2: Doing More Page: 9 of 22

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  • The four expenditures that make up aggregate demand: consumption, investment, government purchases, and net export expenditures.
  • How consumption expenditures are made by households on services, durable goods, and nondurable goods.
  • How investment expenditures are made by businesses on inventories, equipment, and fixed structures.
  • How only government purchases of final goods and services qualify as expenditures for aggregate demand.
  • Net exports, which are exports minus imports. Net exports represent the net expenditures of the foreign sector on our domestically produced final goods and services.

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RELATIVELY ELASTIC

An elasticity alternative in which relatively small changes in one variable (usually price) cause relatively large changes in another variable (usually quantity). In other words, quantity is very responsive to price. Quantity changes a lot in response to small changes in price. This characterization of elasticity is most important for the price elasticity of demand and the price elasticity of supply. Relatively elastic is one of five elasticity alternatives. The other four are perfectly elastic, perfectly inelastic, relatively inelastic, and unit elastic.

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APLS

PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a key chain with a built-in flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?

The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
"Always remember that striving and struggle precede success, even in the dictionary. "

-- Sarah Ban Breathnach, writer

CAP
Common Agricultural Policy
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