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KEYNESIAN AGGREGATE EXPENDITURE MODEL: The generic term for several graphical models used to analysis the basic components of Keynesian economics and to identify Keynesian equilibrium as the intersection of the aggregate expenditures line and the 45-degree line. Differences among the specific models are based on which sectors are included (household, business, government, and foreign) and whether expenditures are induced or autonomous.
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SCREENING When confronted by asymmetric information, the use of small bits of information, or indicators, that suggest more comprehensive information. Screening occurs when those with limited information try to identify indicators suggesting more complete information. It is used in markets with adverse selection and moral hazard, especially in labor markets and in the provision of insurance. Common methods of screening include aptitude tests, affiliations, past behavior, and personal characteristics. A related method is signalling.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel wanting to buy either a pair of red and purple designer socks or a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Gravitation can not be held responsible for people falling in love." -- Albert Einstein
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ANN REPT
Annual Report
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