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DECISION LAG: The time lag that it takes government leaders and policy makers to determine the appropriate government action needed to address an economic problem. The decision lag arises because it takes time for policy makers to chose among the array of possible policy actions, each with assorted consequences that appeal differently to different political constituencies. This "inside lag" is one of four policy lags associated with monetary and fiscal policy. The other two "inside lags" are recognition lag and implementation lag, and one "outside lag" is implementation lag. All four policy lags can reduce the effectiveness of business-cycle stabilization policies and can even destabilize the economy.
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Lesson 5: Market Demand | Unit 3: Demand Curve
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Page: 9 of 20
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This table is a demand schedule presenting the relationship between demand price and quantity demanded. Assumptions: - Ceteris paribus factors do not change.
- Data is for a specific time period.
Observations:- First, higher prices go with lower quantities demanded-the law of demand.
- Second, the prices and quantities are maximum values.
- Third, demand is the whole set of price/quantity pair numbers. Quantity demanded is any single number at the specified price.
- By the way, these numbers are hypothetical.
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QUANTITY The amount of a commodity (good, service, or resource) that is produced, consumed, bought, sold, or exchanged. The quantity of a commodity is often the focus of economic analysis. It takes center stage in the market model, as well as the theories of short-run production and consumer demand theory. In the standard market diagram, as well as most other analyses, quantity is displayed on the horizontal axis.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet trying to buy either a set of luggage without wheels or a how-to book on wine tasting. Be on the lookout for telephone calls from long-lost relatives.
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In the early 1900s around 300 automobile companies operated in the United States.
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"The greatest things ever done on Earth have been done little by little. " -- William Jennings Bryan
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ACH
Automated Clearinghouse
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