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ACCESSIBILITY: The location of economic activity (especially in terms of land) relative to other activities. As real estate agents are prone to say, "The three most important factors in real estate are 'location, location, location.'" Accessibility determines how easy or difficult (read this as costly) it is to allocate good, services, and resources. Transportation is a key factor in accessibility. Efficient, low cost transportation systems improve accessibility.

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CLASSICAL AGGREGATE SUPPLY CURVE

An aggregate supply curve--a graphical representation of the relation between real production and the price level--that reflects the basic principles of classical economics. The classical aggregate supply curve is vertical at the full-employment level of real production indicating that the quantity of aggregate production is independent of the price level. An alternative is the Keynesian aggregate supply curve.

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APLS

YELLOW CHIPPEROON
[What's This?]

Today, you are likely to spend a great deal of time watching infomercials trying to buy either a wall poster commemorating the 2000 Olympics or a flower arrangement with a lot of roses for your grandmother. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?

John Maynard Keynes was born the same year Karl Marx died.
"The true idealist pursues what his heart says is right in a way that his head says will work. "

-- Richard Nixon, 37th US president

MU
Marginal Utility
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