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BUYERS' INCOME, DEMAND DETERMINANT: The income that buyers have available to purchase a good, which is assumed constant when a demand curve is constructed. Buyers' income is one of five demand determinants that shift the demand curve when they change. The other four are buyers' preferences, other prices, buyers' expectations, and number of buyers.
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Lesson 11: Circular Flow | Unit 3: Government
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Page: 14 of 22
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Topic:
Government Borrowing
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When government does not collect enough taxes to pay for purchases, it borrows through the financial markets.- The federal deficit is borrowing by the federal government to make up the difference between taxes and spending.
- State and local governments also borrow through financial markets.
- The green flow leaving the financial markets and entering the government sector is government borrowing.
- Government sector purchases can be less than taxes, which means government saves to the financial markets.
- Many state and local governments actually save. State and local saving reduces total government sector borrowing in times of high federal deficits.
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KEYNESIAN MODEL A macroeconomic model based on the principles of Keynesian economics that is used to identify the equilibrium level of, and analyze disruptions to, aggregate production and income. This model identifies equilibrium aggregate production and income as the intersection of the aggregate expenditures line and the 45-degree line. The Keynesian model comes in three basic variations designated by the number of macroeconomic sectors included--two-sector, three-sector, and four sector. The Keynesian model is also commonly presented in the form of injections and leakages in addition to the standard aggregate expenditures format. This model is used to analyze several important topics and issues, including multipliers, business cycles, fiscal policy, and monetary policy.
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BLACK DISMALAPOD [What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either a brown leather attache case or car battery jumper cables. Be on the lookout for mail order catalogs with hidden messages. Your Complete Scope
This isn't me! What am I?
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
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"Good judgment comes from experience, and often experience comes from bad judgment." -- Rita Mae Brown ‚ Writer
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ACV Actual Cash Value
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