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UNDISTRIBUTED CORPORATE PROFITS: Commonly termed retained earnings, these are corporate profits that are neither paid as corporate profits taxes nor paid to shareholders as dividends. Undistributed corporate profits are important for the derivation of personal income from national income. Because undistributed corporate profits are income that is earned by the shareholders, but not received, it falls in the general category of income earned but not received (IEBNR), and is subtracted from national income in the derivation of personal income.
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PRICE TAKER A buyer or seller that has no market control and is not able to affect the price of a good. It must "take" or accept the going market price. The market structure that exemplifies price taker is perfect competition. In fact, perfect competition is the only example of price taker. This is one of two alternatives related to control over price. The other is price maker. Price taker is also termed price seeker.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a lighted magnifying glass or a small, foam rubber football. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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John Maynard Keynes was born the same year Karl Marx died.
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"The time your game is most vulnerable is when you're ahead; never let up. " -- Rod Laver, Tennis player
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HSI
Hang Seng Index (Hong Kong)
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