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April 25, 2018 

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OWNER-OCCUPIED HOUSING: Houses that are, quite simply, occupied by the owners. A person, or family, owns a house and lives in it. The contrast is with rental property, in which owners rent their houses out to others. Owner-occupied housing is important for the estimation of gross domestic product because it involves current production but has no market transactions. As such, the value of housing services have to be estimated before inclusion in gross domestic product.

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RESOURCE QUALITY, AGGREGATE SUPPLY DETERMINANT: One of three categories of aggregate supply determinants assumed constant when the short-run or long-run aggregate supply curves are constructed, and which shifts both aggregate supply curves when it changes. An increase in a resource quality causes an increase (rightward shift) of both aggregate supply curves. A decrease in a resource quality causes a decrease (leftward shift) of both aggregate supply curves. The other two categories of aggregate supply determinants are resource quantity and resource price. Specific determinants falling into this general category include education and technology. Anything affecting the quality of labor, capital, land, and entrepreneurship is also included.

     See also | resource quantity, aggregate supply determinant | resource price, aggregate supply determinant | technology, aggregate supply determinant | wages, aggregate supply determinant | energy prices, aggregate supply determinant | aggregate supply determinants | aggregate supply shifts | change in aggregate supply | change in real production | slope, aggregate supply curve | capital stock, aggregate supply determinant | aggregate demand determinants |


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RESOURCE QUALITY, AGGREGATE SUPPLY DETERMINANT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: April 25, 2018].


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MONEY CHARACTERISTICS

The four primary characteristics of money are: (1) durability, (2) divisibility, (3) transportability, and (4) noncounterfeitability. Although a number of items or assets have served as money, those that best match these four characteristics are the ones that best function as money, the ones that best operate as a medium of exchange.

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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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