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ABSOLUTE POVERTY: The amount of income a person or family needs to purchase an absolute amount of the basic necessities of life. These basic necessities are identified in terms of calories of food, BTUs of energy, square feet of living space, etc. The problem with the absolute poverty level is that there really are no absolutes when in comes to consuming goods. You can consume a given poverty level of calories eating relatively expensive steak, relatively inexpensive pasta, or garbage from a restaurant dumpster. The income needed to acquire each of these calorie "minimums" vary greatly. That's why some prefer relative poverty.
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SLOPE, NET EXPORTS LINE: The negative slope of the net exports line is based on the marginal propensity to import (MPM). Because net exports are exports minus imports, the induced change in imports causes an opposite change in net exports. As such, the slope of the net exports line is negative, less than zero (but greater than negative one). The slope of the net exports line affects the slope of the aggregate expenditures line and thus also affects the magnitude of the multiplier process. See also | net exports line | intercept, net exports line | consumption line | slope, consumption line | slope, investment line | slope, net exports line | induced net exports | autonomous net exports | marginal propensity to import |
Recommended Citation:SLOPE, NET EXPORTS LINE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: April 24, 2018].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: slope, net exports line
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GOOD A physical, tangible item or product used to satisfy wants and needs. A good is produced using society's resources and represents a fundamental aspect of the economy. Limited resources are used to produced the goods that satisfy unlimited wants and needs in an ongoing effort to address the problem of scarcity.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"You have to find something that you love enough to be able to take risks, jump over the hurdles and break through the brick walls that are always going to be placed in front of you. If you don't have that kind of feeling for what it is you're doing, you'll stop at the first giant hurdle. " -- George Lucas
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TR
Total Revenue
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