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ANNUITY: The receipt of payments at regular intervals from a established fund. Annuities are commonly used for insurance and retirement programs. It works in this way: A fund, which can be established either through a one-time sum of money or a series of payments, is exhausted over time with fixed, periodic payments. The amount of each payment depends on the interest accrued on the outstanding balance in the fund, and the length of time scheduled to exhaust the fund. For example, if your pension plan is based on an annuity that begins payments at the age of 65, then the size of the payments depends on whether you expect to live 5, 10, 15, or more years and set up payments accordingly. It's very similar to amortization, but in the reverse direction.
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Lesson 9: Consumer Demand | Unit 4: The Curves
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Page: 17 of 22
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Topic:
Marginal Utility
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- The marginal utility curve is what provides the greatest insight into market demand and the law of demand.
- The points plotted come from an infinite number of points that capture the relation between total utility and time at the beach.
- Let's make a few observations about this curve.
- The marginal utility curve is negatively slope.
- It starts at a relatively high value, 12 utils, then declines as quantity increases.
- The negative slope and decline in the marginal utility curve illustrates the law of diminishing marginal utility.
- These observations are consistent with those made for the marginal utility schedule.
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AGGREGATE DEMAND AND MARKET DEMAND The aggregate demand curve, or AD curve, has similarities to, but differences from, the standard market demand curve. Both are negatively sloped. Both relate price and quantity. However, the market demand curve is negatively sloped because of the income and substitution effects and the aggregate demand curve is negatively sloped because of the real-balance, interest-rate, and net-export effects.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a tall storage cabinet with five shelves and a secure lock or a birthday greeting card for your grandmother. Be on the lookout for slow moving vehicles with darkened windows.
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This isn't me! What am I?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"You don't have to see the top of the staircase to take the first step.¾ " -- Martin Luther King, civil rights leader
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CAP
Common Agricultural Policy
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