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FOOD AND DRUG ADMINISTRATION: An agency of the U. S. Department of Health and Human Services that deals with the safety and effectiveness of food, cosmetics, drugs, and medical implements. It was formally established in 1906 to investigate and test what turned out to be some pretty dangerous and disgusting food additives that were being fed to an unaware public. The FDA is now charged with the task of keeping food and drugs free of hazardous additives and to ensure that they perform as promised. Drugs must undergo rigorous, lengthy tests on animals and humans to prove they're safe and effective.
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Lesson 15: Aggregate Market | Unit 1: The Concept
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Page: 5 of 22
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The aggregate market is designed to explain the macroeconomy's price level and real production.- Aggregate demand is the relation between expenditures on real production and the price level.
- Aggregate supply is the relation between the supply of real production and the price level--short run and long run.
- The aggregate market identifies suitable values for the price level and real production that keep the aggregate economy--buyers and sellers--satisfied.
- The aggregate market helps us to analyze and understand the macroeconomy.
We are primarily concerned with the problems of inflation and unemployment.
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MARKET SUPPLY The combined supply of everyone willing and able to sell a good in a market. Market supply is one half of the market. The other is market demand. It is graphically represented by a positively-sloped market supply curve, which can be derived by combining, or adding, the individual supplies of every seller in the market.
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PINK FADFLY [What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads seeking to buy either a genuine down-filled comforter or a 200-foot blue garden hose. Be on the lookout for poorly written technical manuals. Your Complete Scope
This isn't me! What am I?
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
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"Good judgment comes from experience, and often experience comes from bad judgment." -- Rita Mae Brown ‚ Writer
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BLS Bureau of Labor Statistics
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