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GOVERNMENT SUBSIDIES LESS CURRENT SURPLUS OF GOVERNMENT ENTERPRISES: The difference between transfer payments from the government sector to the business sector and "profit" received by government-operated "firms." This composite item is one of several differences between national income (the resource cost of production) and gross (and net) domestic product (the market value of production) in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. This item tends to be relatively small, invariably less than 1 percent of gross domestic product.
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Lesson 17: Money | Unit 2: More About Money
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Page: 7 of 25
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Another function of money is store of value.- It means that we retain the value, the satisfaction of wants and needs, provided by a good over a period of time.
Ways to store of value: - Buy a product and store it for a week.
- Buy a gift certificate and redeem it after a week.
- Buy another good, keep it for a week, sell it and then use this money to buy a product.
- Keep the money one week or then buy the good.
A potential problem: - If the price of the good rises money becomes a less effective means of storing value.
- Price inflation is the nemesis for the store of value function of money.
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INELASTIC SUPPLY The general elasticity relation in which relatively large changes in price cause relatively small changes in quantity supplied. Large changes in price cause relatively small changes in quantity supplied or the percentage change in quantity supplied is smaller than the percentage change in price. This characterization of elasticity is most important for the price elasticity of supply. Inelastic supply is one of two general elasticity relations for supply. The other is elastic supply.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale trying to buy either a birthday gift for your mother or a weathervane with a horse on top. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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In the early 1900s around 300 automobile companies operated in the United States.
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"Defeat is simply a signal to press onward. " -- Helen Keller, author, lecturer
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AFBD
Association of Futures Brokers and Dealers (UK)
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