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AGGREGATE SUPPLY DETERMINANTS: An assortment of ceteris paribus factors that affect both short-run aggregate supply and long-run aggregate supply, but which are assumed constant when the short-run and long-run aggregate supply curves are constructed. Changes in any of the aggregate supply determinants cause the short-run and long-run aggregate supply curves to shift. While a wide variety of specific ceteris paribus factors can cause the aggregate supply curves to shift, it's usually most convenient to group them into three broad categories -- resource quantity, resource quality, and resource prices.
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                           AXIOM: A basic precondition or assumption underlying a theory. Axioms are basic, unverifiable world view assumptions--including personal beliefs, political views, and cultural values--that form the foundation of a theory. An axiom is a statement or notion that is unprovable, but presumed to be true. Axioms cannot be verified directly with real world data, and as such are largely accepted on faith. They comprise the world view of a scientific theory. Many axioms reflect religious beliefs, political ideologies, and views about the basic nature of humanity and the universe. Belief in a supreme, omnipotent, omniscience being is one such axiom. The notion that people are basically good (or bad) is another. The presumption that the universe abides by cause-and-effect relations is a key axiom for all of science.While axioms cannot be verified directly with real world data, as is the case for hypotheses, they can be "checked" indirectly. Suppose, for example, dozens of theories that employ the same axiom generate hundreds of hypotheses that are refuted by real world data. The problem might rest with this axiom. If this axiom is then replaced with an alternative, and the subsequent hypotheses are supported by data, then the validity of the original axiom is even more suspect.
Recommended Citation:AXIOM, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2021. [Accessed: January 21, 2021].
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Today, you are likely to spend a great deal of time watching infomercials hoping to buy either a coffee cup commemorating the moon landing or a how-to book on surfing the Internet. Be on the lookout for mail order catalogs with hidden messages.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"The more you praise and celebrate your life, the more there is in life to celebrate." -- Oprah Winfrey
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EMA
Econometrica
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