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OUTSIDE LAG: In the context of economic policies, the time between corrective government action responding to a shock to the economy and the resulting affect on the economy. This is one of two primary lags in the use of economic policies. The other is inside lag, the time between a shock to the economy and corrective government action responding to the shock. The length of the outside lag, also termed impact lag, is primarily based on the speed of the multiplier process and is essentially the same for both fiscal and monetary policy. The length of the inside and outside lags is one argument against the use of discretionary policies to stability business cycles.
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Lesson 13: The Firm | Unit 3: Legal Types
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Page: 13 of 24
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- A proprietorship:.
- A proprietorship is a firm owned and operated by a single person. The proprietor/owner often provides a sizeable share of the resources, especially labor and capital.
- Let's consider some of the pros and cons of a proprietorship:
- Advantages: On the plus side of the ledger account, the owner of a proprietorship is TOTALLY in charge. The owner decides what to do, how to do, and more often than not actually does the work.
- Disadvantages: The primary entry on the negative side of the ledger account is unlimited liability.
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AUTONOMOUS NET EXPORTS Net exports by the foreign sector that do not depend on income or production (especially national income or gross domestic product). That is, changes in income do not generate changes in net exports. Autonomous net exports are best thought of as net exports that the foreign sector undertakes independent of income. They are measured by the intercept term of the net exports line. The alternative to autonomous net exports is induced net exports, which do depend on income.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either one of those "hang in there" kitty cat posters or a velvet painting of Elvis Presley. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Inside the ring or out, ain't nothing wrong with going down. It's staying down that's wrong. " -- Muhammad Ali
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TGE
Tokyo Grain Exchange (Japan)
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