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NEGATIVE RELATION: A relation, either a principle or hypothesis, in which an increase one variable is associated with a decrease in the other variable. A negative, or indirect, relation is most commonly illustrated by a downward sloping line. It can also be represented by an equation in which the slope value is negative.

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Lesson 11: Elasticity Basics | Unit 3: Measurement Page: 15 of 25

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In this unit, you should have learned about:
  • The two types of elasticity measurements -- arc elasticity for discrete changes and point elasticity for infinitesimally small changes.
  • The coefficient of elasticity used to quantify the elasticity concept.
  • The endpoint formula for calculating the coefficient of elasticity.
  • The midpoint formula for calculating the coefficient of elasticity.
  • How the coefficient of elasticity differs using the endpoint and midpoint formulas.

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AGGREGATE DEMAND AND MARKET DEMAND

The aggregate demand curve, or AD curve, has similarities to, but differences from, the standard market demand curve. Both are negatively sloped. Both relate price and quantity. However, the market demand curve is negatively sloped because of the income and substitution effects and the aggregate demand curve is negatively sloped because of the real-balance, interest-rate, and net-export effects.

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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either a package of blank rewritable CDs or yellow cotton balls. Be on the lookout for malfunctioning pocket calculators.
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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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European Monetary Union
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