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OTHER THINGS EQUAL: A common assumption used in economic analysis that often goes by the technical Latin term, ceteris paribus. This assumption is used when identifying the relation between two specific variables, such as price and quantity for the law of demand. In so doing, the causal connection between the two variables can be identified. However, economic analysis becomes more interesting and useful when this assumption is relaxed, which makes it possible to examine how these "other things" affect the relation under study.
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KEYNESIAN EQUILIBRIUM The state of macroeconomic equilibrium identified by the Keynesian model when the opposing forces of aggregate expenditures equal aggregate production achieve a balance with no inherent tendency for change. Once achieved, a Keynesian equilibrium persists unless or until it is disrupted by an outside force, especially changes in autonomous expenditures.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either a package of 4 by 6 index cards, the ones with lines or a 50 foot extension cord. Be on the lookout for telephone calls from former employers.
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This isn't me! What am I?
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"Old minds are like old horses; you must exercise them if you wish to keep them in working order. " -- John Adams, 2nd US president
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GATS
General Agreement on Trade in Services
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