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September 1, 2014 

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ASSUMPTIONS, KEYNESIAN ECONOMICS: The macroeconomic study of Keynesian economics relies on three key assumptions--rigid prices, effective demand, and savings-investment determinants. First, rigid or inflexible prices prevent some markets from achieving equilibrium in the short run. Second, effective demand means that consumption expenditures are based on actual income, not full employment or equilibrium income. Lastly, important savings and investment determinants include income, expectations, and other influences beyond the interest rate. These three assumptions imply that the economy can achieve a short-run equilibrium at less than full-employment production.

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MARGINAL FACTOR COST CURVE, PERFECT COMPETITION

A curve that graphically represents the relation between marginal factor cost incurred by a perfectly competitive firm for hiring an input and the quantity of input employed. A profit-maximizing perfectly competitive firm hires the quantity of input found at the intersection of the marginal factor cost curve and marginal revenue product curve. The marginal factor cost curve for a perfectly competitive firm with no market control is horizontal.

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State of the ECONOMY

U.S. Job Openings
June 2014
4.7 million Bureau of Labor Statistics
Increased

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WHITE GULLIBON
[What's This?]

Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either a how-to book on home repairs or a large, stuffed kitty cat. Be on the lookout for crowded shopping malls.
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This isn't me! What am I?

General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
"Success is the child of audacity. "

-- Benjamin Disraeli, British statesman

APT
Arbitrage Pricing Theory
A PEDestrian's Guide
Xtra Credit
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