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K: The standard abbreviation for the quantity of capital goods, especially for the analysis of production. The letter "K" is used even though capital begins with a "C" because "C" is commonly used to represent consumption. The complementary representations for other inputs are "L" for labor and "N" for population.

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Lesson 9: Macro Basics | Unit 2: Macro Problems Page: 4 of 16

Topic: The Goals <=PAGE BACK | PAGE NEXT=>

A modern, complex economy like the U.S. economy pursues three macro goals:
  • Full employment: Using all available resources for production.
  • Stability: Avoiding inflation and/or fluctuations in the economy.
  • Growth: Lessening the problem of scarcity by increasing production capabilities.
  • We always pursue these goals but conflicts mean we cannot reach them at the same time.
  • More conflicts result from pursuit of the micro goals of efficiency and equity.
  • Macroeconomic problems from not reaching this goals are: production, unemployment, and inflation.

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TARIFFS

Taxes imposed by the government of one nation on imports from other nations. The primary goal of tariffs is to reduce imports and increase domestic production. As taxes, tariffs raise the demand price and lower the supply price, and thus reduce the quantity exchanged. Tariffs are one of three common foreign trade policies designed to discourage imports and/or encourage exports. The other two are import quotas and export subsidies.

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APLS

BLUE PLACIDOLA
[What's This?]

Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club seeking to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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This isn't me! What am I?

A half gallon milk jug holds about $50 in pennies.
"Good judgment comes from experience, and often experience comes from bad judgment."

-- Rita Mae Brown ‚ Writer

PVCF
Present Value Cash Flow
A PEDestrian's Guide
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