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BABY BOOMER: A citizen of the good old U. S. of A. born between the years 1946 and 1960. These Boomers represent a relatively large segment of the population and outnumber any other group born during a similar period, such as those born from 1931 to 1945 or from 1961 to 1975. Over the years, they've tended to set the standard for consumption, production, and politics. They have had and will continue to have a big impact on the Social Security system. As labor, they've provided an amble pool of tax funds and thus sizable benefits to Social Security recipients during the 1980s and 1990s. When these Boomers retire in the 2020s and beyond, however, they will leave a big gap in the labor force and also demand a great deal from the Social Security system.
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Lesson 11: Elasticity Basics | Unit 2: A Little More
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Page: 7 of 25
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Topic:
Why Study: Market Shocks
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- How much price and quantity changes, however, depends on elasticity.
- Demand Changes, Elastic Supply: With elastic supply any change in demand results in relatively large changes in quantity, but relatively small changes in price.
- Demand Changes, Inelastic Supply: With inelastic supply any change in demand results in relatively small changes in quantity, but relatively large changes in price.
- Supply Changes, Elastic Demand: With elastic demand any change in supply results in relatively large changes in quantity, but relatively small changes in price.
- Supply Changes, Inelastic Demand: With inelastic demand any change in supply results in relatively small changes in quantity, but relatively large changes in price.
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MARKET-CLEARING PRICE The price that exists when a market is clear of shortage and surplus, or is in equilibrium. Market-clearing price is a common, non-technical term for equilibrium price. In a market graph, the market-clearing price is found at the intersection of the demand curve and the supply curve.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store looking to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for telephone calls from former employers.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"You have to find something that you love enough to be able to take risks, jump over the hurdles and break through the brick walls that are always going to be placed in front of you. If you don't have that kind of feeling for what it is you're doing, you'll stop at the first giant hurdle. " -- George Lucas
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TSP
Time Series Processor (software)
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