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ANTIDUMPING DUTY: A tariff levied by an imported country (presumably) being the target of foreign dumping. Since dumping implies selling a good to a foreign country at a price below production cost, the antidumping duty is intended to offset the 'unfair' advantage that the foreign seller obtains by selling below cost. The antidumping duty raises the domestic price of the good to the level that the foreign producer would charged if true costs were considered.

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Lesson 14: Aggregate Supply | Unit 4: Determinants Page: 14 of 20

Topic: Quantity of Resources <=PAGE BACK | PAGE NEXT=>

A change in the quantity of labor, capital, land, or entrepreneurship will alter full employment real production and shift the long-run aggregate supply curve.
  • Changes in resource quantities tend to be steady and predictable.
  • Labor can change for three reasons:
    • Natural growth of population.
    • Migration.
    • The labor force participation rate.
  • Capital changes from depreciation of capital and investment in capital.
  • Land changes from exploration and discovery of natural resources.
  • Entrepreneurship, while difficult to measure, increases when more people assume the risk of production.

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SIMPLE EXPENDITURES MULTIPLIER

A measure of the change in aggregate production caused by changes in an autonomous expenditure that shocks the macroeconomy, when consumption is the ONLY induced expenditure. The simple expenditures multiplier is the inverse of one minus the marginal propensity to consume, or more simply the inverse of the marginal propensity to save. A related multiplier is the simple tax multiplier, which measures the change in aggregate production caused by changes in taxes.

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APLS

GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either storage boxes for your family photos or a large, stuffed giraffe. Be on the lookout for defective microphones.
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Lombard Street is London's equivalent of New York's Wall Street.
"There is no point at which you can say, „Well, I'm successful now. I might as well take a nap.¾"

-- Carrie Fisher, actress, writer

ERISA
Employee Retirement Income Security Act of 1974
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