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PPI: The abbreviation for Producer Price Index, which is an index of the prices domestic producers receive from selling their output. THE Producer Price Index is actually one of several producer price indexes compiled and published monthly by the Bureau of Labor Statistics (BLS). THE Producer Price Index reported regularly in the media is actually the Producer Price Index for All Commodities. Other members in the family of producer price indexes include an array of broad, composite indexes (including finished consumer goods, capital goods, and crude materials); indexes that track the prices received by producers in virtually every major production industry in the country (including lumber, iron and steel, household furniture, and passenger cars); and price indexes for thousands of specific products. In total, the producer price index family includes well over 10,000 separate indexes.

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Lesson 19: Monopolistic Competition | Unit 5: Evaluation Page: 22 of 22

Topic: Unit Review <=PAGE BACK | PAGE NEXT=>

In this unit, you should have learned about:
  • The bad of monopolistic competition, which is inefficiency and excess capacity.
  • The good of monopolistic competition, which is product differentiation and the satisfaction of differing preferences.
  • Why government intervention could make monopolistic competition efficient, but that such intervention is seldom undertaken.


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AGGREGATE EXPENDITURES EQUATION

An equation that summarizes the four aggregate expenditures on gross domestic product by the four macroeconomic sectors. In the study of Keynesian economics, this equation is commonly used to summarize the demand side of the macroeconomy. The aggregate expenditures equation actually comes in three different versions depending on how many of the four sectors and their expenditures are included.

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Today, you are likely to spend a great deal of time at a flea market looking to buy either a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or a wall poster commemorating the 2000 Olympics. Be on the lookout for a thesaurus filled with typos.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
"Many people think that if they were only in some other place, or had some other job, they would be happy. Well, that is doubtful. So get as much happiness out of what you are doing as you can and don't put off being happy until some future date. "

-- Dale Carnegie

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currency and coins held by the nonbank public plus checkable deposits issued by traditional banks, savings and loan associations, credit unions, and mutual savings banks
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