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AAUP: The abbreviation for American Association of University Professors, which is an association of university and college faculty established in 1915 to protect academic freedom. The AAUP is the closest thing university faculty have to a labor union. While it does engage in some collective bargaining functions with specific universities, similar to traditional labor unions, its primary function is to ensure that faculty maintain intellectual or academic freedom from political of social pressures.
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Lesson 13: Aggregate Demand | Unit 3: The Curve
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Page: 12 of 22
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Topic:
Real-Balance Effect
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The amount of production we purchase depends on how much money we have and the price of the production we want to buy.- A higher price level means money can buy less real production.
- A lower price level means money can buy more real production.
The real-balance effect is when a change in the price level changes aggregate expenditures on real production because the purchasing power of money changes.- Real refers to the real purchasing power of money.
- Balances refers to the balance of money we have to purchase.
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MONEY MULTIPLIER The ratio of the change in money to the change in bank reserves. The money multiplier indicates the magnified change in money (checkable deposits and currency) that results from an injection of additional reserves into the banking system. As the name suggests, the change in money is typically a multiple of the initial change in bank reserves. The deposit expansion multiplier also forms the core of the money multiplier, both of which depend on the reserve requirement ratio.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"Concentrate all your thoughts upon the work at hand. The sun's rays do not burn until brought to a focus." -- Alexander Graham Bell, inventor
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RCPC
Regional Check Processing Center
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