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RELATIVELY ELASTIC: An elasticity alternative in which relatively small changes in price cause relatively large changes in quantity. In other words, quantity is very responsive to price. Relatively elastic should be compared with other elasticity alternatives--relatively inelastic, perfectly inelastic, perfectly elastic, and unit elastic.
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CPI AND GDP PRICE DEFLATOR The Consumer Price Index (CPI) and the GDP price deflator represent two alternative measures of the economy's price level and the inflation rate. The CPI is reported more often (monthly versus quarterly), but the GDP price deflator is a broader measure of the price level (all final production versus urban consumption). While the CPI is better known, economists tend to prefer the accuracy of the GDP price deflator.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a wall poster commemorating last Friday (you know why) or a country wreathe. Be on the lookout for defective microphones.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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Y
Income, Nominal Gross National Product
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