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ANNUAL: A standard 12-month period, or one year, used for reporting economic and financial data. Gross Domestic Product and related measures are noted economic data released annually. Many businesses also provide annual financial reports. Another standard reporting period is the quarter.

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Lesson 17: Money | Unit 5: Scarcity Page: 25 of 25

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  • That money is critical to the production, consumption, and exchange activities that take place in a complex economy.
  • That money improves efficiency by reducing the amount of resources that would be needed for barter exchanges and that it improves efficiency by letting resources specialize in production.
  • That money is not the root of evil, but it can cause problems.
  • That government is given regulatory responsibility over money, but government leaders could also use money control for personal reasons.

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MARSHALLIAN CROSS

A diagram illustrating the market model, with price measured on the vertical axis and quantity measured on the horizontal axis, with the law of demand represented as a downward-sloping demand curve and the law of supply represented as an upward-sloping supply curve. The derivation of this name comes from the "Marshall" part of noted economist Alfred Marshall, and the intersection or "cross" of the demand and supply curves achieved at that market equilibrium.

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APLS

GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time flipping through mail order catalogs wanting to buy either a T-shirt commemorating the first day of winter or software that won't crash your computer. Be on the lookout for pencil sharpeners with an attitude.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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LRAS
Long Run Aggregate Supply
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