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POLICIES: Government actions designed to affect economic activity and pursue one or more economic goals. Also called government or economic policies. The four common types of policies are: fiscal, monetary, regulatory, and judicial.

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QUANTITY DEMANDED

The specific quantity of a good that buyers are willing and able to buy at a specific demand price. The key word is "specific." Quantity demanded and demand price form matched pairs--one quantity, one price. The combination of all price-quantity pairs is then what constitutes demand. The demand curve is a plot of the quantity demanded at each demand price.

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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time at an auction hoping to buy either a 50-foot blue garden hose or a turbo-powered vacuum cleaner. Be on the lookout for deranged pelicans.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
"A ship ought not to be held by one anchor, nor life by a single hope. "

-- Epictetus, philosopher

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