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ECONOMIC AND MONETARY UNION: An aspect of the European Union designed to integrate economic and monetary policies and establish a single currency (the euro). The Economic and Monetary Union, abbreviated EMU, was created by the 1992 Maastricht Treaty and officially came into existence in 1999. The European Central Bank has control over monetary policy and the money supply for the Economic and Monetary Union.
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GOVERNMENT SECTOR: The basic macroeconomic sector that includes all levels of government, including federal, state, and local. The primary function of the government sector is to force resource allocation decisions that might not otherwise be made by the rest of the economy. This is one of four macroeconomic sectors. The other three are household sector, business sector, and foreign sector. See also | government | public sector | private sector | government purchases | taxes | government borrowing | government functions | good types | market failures | public choice | household sector | business sector | foreign sector | circular flow |
Recommended Citation:GOVERNMENT SECTOR, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 9, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: government sector
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SLOPE, LONG-RUN AGGREGATE SUPPLY CURVE The long-run aggregate supply (LRAS) curve is a vertical line with an infinite slope, reflecting the independent relation between the price level and aggregate real production. A higher price level is associated with the same real production as a lower price level. This is the real production generated when resources are fully employed, that is, full-employment production.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store seeking to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for the last item on a shelf.
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Lombard Street is London's equivalent of New York's Wall Street.
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"All labor that uplifts humanity has dignity and importance and should be undertaken with painstaking excellence. " -- Martin Luther King Jr., civil rights leader
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PI
Personal Income
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