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December 16, 2018 

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GOVERNMENT ENTERPRISES: Government owned and operated productive activities that operate much like private sector firms. They hire resources and purchase other inputs, then produce goods that are sold through markets. In some cases, government enterprises compete directly with private firms. One common example of a government enterprise is a city-operated electrical generation and distribution system. In some cities, this service is provided by private, for-profit, businesses and in other cities it is provided by government. Other examples of government enterprises include urban transportation systems, parks and recreational facilities, and communication systems.

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MORAL SUASION: Government policy in which policy makers or leaders encourage or discourage particular behavior using information requests of consumers, business, and others, without formal actions such as laws or regulations. The use of moral suasion can be somewhat effective during short-term crises situations, such as wars, energy shortages, or financial instability. Moral suasion is occasionally used for monetary policy when the Federal Reserve System doesn't want to, or have the time to, use other monetary policy tools.

     See also | economic policies | monetary policy | regulation |


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AVERAGE PRODUCT CURVE

A curve that graphically illustrates the relation between average product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the per unit output at each level of the variable input. The average product curve is one of three related curves used in the analysis of the short-run production of a firm. The other two are total product curve and marginal product curve.

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Today, you are likely to spend a great deal of time searching for rummage sales hoping to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for jovial bank tellers.
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A half gallon milk jug holds about $50 in pennies.
"If things are not going well with you, begin your effort at correcting the situation by carefully examining the service you are rendering, and especially the spirit in which you are rendering it."

-- Roger Babson, statistician and columnist

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Association of American Chambers of Commerce in Latin America
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