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AGGREGATE MARKET: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The aggregate market, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).

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IEBNR: The abbreviation for income earned but not received. The three types of income earned but not received by the factors of production are Social Security taxes, corporate profits taxes, and undistributed corporate profits. In each case a factor of production has rightfully "earned" the income by contributing to valuable production contained in gross domestic product. However, because this income is not paid to the factor and it is not income received by the household sector. IEBNR is subtracted from national income to calculate personal income.

     See also | income | national income | personal income | corporate profits tax | undistributed corporate profits | gross domestic product | factors of production | household sector |


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IEBNR, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: March 25, 2023].


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SUBSTITUTE-IN-CONSUMPTION

One of two (or more) goods that provide the same basic satisfaction of a want or need when consumed. A substitute-in-consumption is one of two alternatives falling within the other prices determinant of demand. The other is a complement-in-consumption. An increase in the price of one substitute good causes an increase in demand for the other. A substitute-in-consumption has a positive cross elasticity of demand.

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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time at a garage sale seeking to buy either a large, stuffed kitty cat or a cross-cut paper shredder. Be on the lookout for telephone calls from former employers.
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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