March 17, 2018 

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BUYER'S REMORSE: The post purchase behavior a consumer experiences when one has doubts as to whether the purchase decision was correct or not. This is a possible step five in the decision making process (post-purchase behavior). It can be overcome by effective decision making upfront on the part of the consumer. The seller can help eliminate this by making follow-up calls or visits to reinforce the correctness of the decision on the part of a buyer.

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Lesson 16: Aggregate Shocks | Unit 1: Instability Page: 3 of 21

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  • The aggregate market as a tool to analyze the macroeconomy and its adjustments toward equilibrium.
  • How aggregate market adjustments are important to the difference between short-run equilibrium and long-run equilibrium.
  • That the aggregate market curves--AD, LRAS, and SRAS--are constructed assuming other (ceteris paribus) things remain unchanged.
  • Ceteris paribus determinants as the source of business cycle fluctuations away from the long-run, full employment growth trend of the economy.

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The total market value of all final goods and services produced within the political boundaries of an economy during a given period of time, usually one year. This is the official measure of the aggregate output produced by the economy. It is tabulated and reported by the National Income and Product Accounts maintained by the Bureau of Economic Analysis, which is part of the U. S. Department of Commerce. Gross domestic product, often abbreviated simply as GDP, is one of several measures reported regularly (quarterly and annually) by the number crunchers at the Bureau of Economic Analysis. Other common measures include net domestic product, national income, personal income, and disposable income. GDP has replaced gross national product (GNP), in most official discussion of aggregate economic production.

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Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for infected paper cuts.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
"If football taught me anything about business, it is that you win the game one play at a time."

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