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FALLACY OF PERSONAL ATTACK: The logical fallacy of arguing that something is bad because someone "associated" with the thing is ugly, has a funny nose, drives a foreign car, regularly watches daytime soap operas, or wears outdated clothing. This fallacy is rampant in the political arena. While some politicians might have you believe that only good people propose good policies, while bad people have bad policies. The fact of the matter is that good people propose bad policies and bad people propose good policies.
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Lesson 14: Production | Unit 1: Short-Run Production
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Page: 2 of 25
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Topic:
Two Inputs: Fixed And Variable
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- Two different types of inputs -- fixed and variable.
- A fixed input is an input used in the production of goods and services that does not change in the time period of the analysis.
- A variable input is an input used in the production of goods and services that does change in the time period of the analysis.
- For short-run production, the quantity of variable inputs used in production can be changed, but the quantity of fixed inputs can not.
- Fixed and variable inputs are closely connected to the time period of analysis.
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M1 The narrow-range monetary aggregate for the U.S. economy containing the combination of currency (and coins) issued by government and held by the nonbank public and checkable deposits issued by banking institutions. M1 contains the two items that function as THE medium of exchange for the U.S. economy. M1 is one of three monetary aggregates tracked and reported by the Federal Reserve System. The other two are designated M2 and M3.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either a rotisserie oven that can also toast bread or a flower arrangement in a coffee cup for your father. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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EBIT
Earnings Before Interest and Taxes
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