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FINANCIAL WEALTH: Assets, or wealth, that is based on ownership of financial assets, such as stocks, bonds, money, and government securities. Also termed paper wealth. Financial wealth represents ownership of physical or real wealth.

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Lesson 7: Market Equilibrium | Unit 5: The Method Page: 18 of 22

Topic: Efficient Markets <=PAGE BACK | PAGE NEXT=>

Rethinking demand and supply curves indicates efficiency of markets.

Market equilibrium has:

  • Equality between quantity demanded and quantity supplied.
  • Equality between demand price and supply price.
  • Equality between demand price and supply price means that the satisfaction obtained from the good produced is equal to the opportunity cost of production.
  • This equality between prices also means that the value of the good produced is equal to the value of goods not produced.

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KEYNESIAN CROSS

A diagram illustrating the basic Keynesian theory of macroeconomics, with aggregate expenditures measured on the vertical axis and aggregate production measured on the horizontal axis, with the relation between aggregate expenditures and aggregate production represented by a positively-sloped aggregate expenditures line. The "cross" aspect of this diagram is the intersection between the aggregate expenditures line and a 45-degree line indicating every point of equality between aggregate expenditures and aggregate production. The "Keynesian" aspect of this diagram is derived from John Maynard Keynes, the developer and namesake of Keynesian economics.

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APLS

BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time surfing the Internet hoping to buy either pink cotton balls or a genuine down-filled comforter. Be on the lookout for neighborhood pets, especially belligerent parrots.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
"Success is liking yourself, liking what you do, and liking how you do it."

-- Maya Angelou, Poet and Author

ALAC
Latin American Free Trade Area
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