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LAGGING ECONOMIC INDICATOR: One of seven economic statistics that tend to move up or down a few months after the expansions and contractions of the business cycle. These statistics paint a pretty clear picture of what the economy was doing a few months back. Lagging economic indicators lag the turning points of the aggregate economy by 3-12 months. After a contraction begins, lagging indicators decline 3 to 12 months later. And 3 to 12 months after a expansion begins, lagging indicators rise.
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Lesson 4: Production Possibilities | Unit 2: The Schedule
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Page: 8 of 24
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- How a production possibilities schedule is set up to display bundles of two different goods.
- How to work with and interpret a simple production possibilities schedule.
- How and why the production tradeoff between two goods reflects opportunity cost.
- The law of increasing opportunity cost and how it is indicated by increasing negative opportunity cost numbers in the production possibilities schedule.
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GOVERNMENT BUREAUCRACIES Relatively complex government organizations that operate according to rules and procedures to implement the programs and policies of political leaders. A bureaucracy is a complex organization that usually contains hundreds or even thousands of employees, each with different duties and responsibilities. Bureaucracies exist in all types of organizations -- private, public, government, business, charities, corporations, even households. The study of public choice indicates that government bureaucracies are one source of government inefficiency. Other sources are politicians, voters, and special interest groups.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store hoping to buy either decorative celebrity figurines or a flower arrangement with anything but tulips for your grandfather. Be on the lookout for infected paper cuts.
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"Plans are only good intentions unless they immediately degenerate into hard work." -- Peter Drucker, management consultant
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RMS
Real Market Share
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