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BUDGET DEFICIT: An excess of budgetary expenditures over revenues. The federal government is well known for its inclination to operate with a budget deficit. But it is not alone. Consumers also find themselves in this position on many occasions. When a budget deficit occurs, the excess spending is financed through borrowing. For the federal government this involves issuing government securities. For households it typically involves some sort of bank loan, credit card purchase, use of savings (borrowing from thyself), or hitting a friend up for a few bucks.
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Lesson 20: Federal Reserve System | Unit 5: Issues
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Page: 20 of 20
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- Politics are never far from economics, especially when doing economic policies.
- That monetary policy can satisfy alternative preferences about higher or lower inflation and unemployment.
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AVERAGE PRODUCT AND MARGINAL PRODUCT A mathematical connection between average product and marginal product stating that the change in the average product depends on a comparison between the average product and marginal product. If marginal product is less than average product, then average product declines. If marginal product is greater than average product, then average product rises. If marginal product is equal to average product, then average product does not change.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club looking to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for infected paper cuts.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"The time to repair the roof is when the sun is shining." -- John F. Kennedy, 35th U. S. president
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NLS
National Longitudinal Survey
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