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June 17, 2018 

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FISCAL: Relating to government taxation, spending, or financial matters. The term is most often using in combination with other words, such as fiscal budget, fiscal year, or fiscal policy. In each case, the addition of the term "fiscal" means a connection with government financial matters. Fiscal policy, for example, is policy that makes use of government spending and taxation. Fiscal year is then the standard 12-month period government uses for collecting taxes, appropriating spending, and otherwise tabulating its budget.

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INTERSECTION: In a graph the point at which two lines cross. In a more sophisticate mathematical view, the combination of two variables that simultaneously satisfy two separate relations. The most common intersection in economics involves the demand and supply curves. The equilibrium price and equilibrium quantity are the two variables that simultaneously satisfy the demand and supply relations (law of demand and law of supply). Most graphical intersection points are worth noting in the study of economics. More often than not an intersection point is also an equilibrium.

     See also | graph | curve | variable | market | demand | supply | equilibrium price | equilibrium quantity |


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INFLATIONARY GAP

The difference between the equilibrium real production achieved in the short-run aggregate market and full-employment real production that occurs when short-run equilibrium real production is more than full-employment real production. An inflationary gap, also termed an expansionary gap, is associated with a business-cycle expansion, especially the latter stages of an expansion. This is one of two alternative output gaps that can occur when short-run equilibrium generates production that differs from full employment. The other is a recessionary gap.

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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time driving to a factory outlet looking to buy either a green and yellow striped sweater vest or a Boston Red Sox baseball cap. Be on the lookout for the last item on a shelf.
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The average bank teller loses about $250 every year.
"The secret of getting ahead is getting started. The secret of getting started is breaking your complex, overwhelming tasks into small manageable tasks, and then starting on the first one. "

-- Mark Twain, writer

NAG
Net Annual Gain
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