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February 23, 2020 

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LIMITED LIABILITY COMPANY: A relatively new legal firm type that operates very much like a partnership, but in which every owner has limited liability. The advantage of a limited liability company, over a limited partnership, is that every owner has limited liability. It also has advantages over an S corporation in that very few restrictions exist on who can be an owner.

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SIMPLE EXPENDITURE MULTIPLIER: The ratio of the change in aggregate output (or gross domestic product) to an autonomous change in an aggregate expenditure (consumption expenditures, investment expenditures, government purchases, or net exports) when consumption is the only induced expenditure. This is the least complicated expenditure multiplier possible, based exclusively on induced consumption, and is the inverse of the marginal propensity to save. This simple multiplier becomes more complicated by adding other induced expenditures.

     See also | multiplier | expenditure multiplier | aggregate output | aggregate expenditures | autonomous change | induced consumption | marginal propensity to save | marginal propensity to consume | tax multiplier | balanced-budget multiplier | Keynesian economics |


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SIMPLE EXPENDITURE MULTIPLIER, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2020. [Accessed: February 23, 2020].


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FOUR-SECTOR, THREE-MARKET CIRCULAR FLOW

A circular flow model of the macroeconomy containing four sectors (business, household, government, and foreign) and three markets (product, factor, and financial) that illustrates the continuous movement of the payments for goods and services between producers and consumers, with particular emphasis on exports and imports. Other circular models are two-sector, two-market circular flow; two-sector, three-market circular flow; and three-sector, three-market circular flow.

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Today, you are likely to spend a great deal of time at a garage sale wanting to buy either a toaster oven that has convection cooking or a birthday gift for your mother. Be on the lookout for attractive cable television service repair people.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
"How wonderful it is that nobody need wait a single moment before starting to improve the world."

-- Anne Frank

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Weak Axiom of Profit Maximization
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