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GOVERNMENT DEBT: The total amount of all government securities outstanding. This is also frequently termed the public debt.
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Lesson 16: Perfect Competition | Unit 3: Doing Graphs
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Page: 13 of 28
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- The profit curve.
- A profit curve is the graphical representation of the relation between a firm's profit and the quantity of output produced.
- Notes:
- Breakeven output occurs at the quantities where economic profit is zero.
- Profit maximization occurs at the quantity of output where the profit curve reaches it's peak. This quantity is 8 units.
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AUTONOMOUS GOVERNMENT PURCHASES Government purchases by the government sector that do not depend on income or production (especially national income or gross domestic product). That is, changes in income do not generate changes in government purchases. Autonomous government purchases are best thought of as government purchases that the government sector undertake independent of income. They are measured by the intercept term of the government purchases line. The alternative to autonomous government purchases is induced government purchases, which do depend on income.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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RJE
RAND Journal of Economics
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