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OPEN MARKET: A market, not unlike that stock market, that trades the U.S. Treasury securities that comprises the federal debt. U.S. Treasury securities are low risk and extremely secure financial instruments that are held by all sorts of investors, especially commercial banks. The Federal Reserve System is also a major holder of U.S. Treasury securities and participant in the open market. In fact, the Federal Reserve System used buying and selling of U.S. Treasury securities through the open market as a means of controlling the money, through what is appropriately termed open market operations.
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Lesson 21: Factor Demand | Unit 3: The Curve
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Page: 15 of 24
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Topic:
Factor Demand Curve
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A few points about this curve.- The factor demand curve is only the negatively-sloped portion of the marginal revenue product curve.
- The factor demand curve is negatively sloped because the marginal revenue product curve is negatively sloped, and this is due to the law of diminishing marginal returns.
- The factor demand curve stops at the horizontal axis where marginal revenue product is zero.
- This factor demand curve is based on the presumption that the firm was able to pay the same wage for each worker ($20 per hour).
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AXIOM A basic precondition or assumption underlying a theory. Axioms are basic, unverifiable world view assumptions--including personal beliefs, political views, and cultural values--that form the foundation of a theory.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time at a flea market wanting to buy either a how-to book on home remodeling or a tall storage cabinet with five shelves and a secure lock. Be on the lookout for a thesaurus filled with typos.
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In the early 1900s around 300 automobile companies operated in the United States.
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"It is not the straining for great things that is most effective; it is the doing of the little things, the common duties, a little better and better." -- Elizabeth Stuart Phelps, Writer
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Walrasian Equilibrium
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