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August 18, 2022 

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PHYSICAL ASSET: A productive resource, capital, property, or satisfaction-generating good. Also termed real asset. This should be contrasted with financial assets that are legal claims on physical assets.

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AUTONOMOUS GOVERNMENT PURCHASES: Government purchases that are unrelated to income or production (especially national income or gross national product). These are government purchases that would occur even if national income was zero. Autonomous government purchases are graphically depicted as the vertical intercept of the government purchases line relating government purchases to national income. Changes in autonomous government purchases, along with changes in other autonomous expenditures, are what trigger the multiplier effect.

     See also | government purchases | national income | gross domestic product | government purchases line | autonomous consumption | autonomous expenditure | multiplier | induced government purchases | fiscal policy |


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AUTONOMOUS GOVERNMENT PURCHASES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: August 18, 2022].


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TWO-SECTOR KEYNESIAN MODEL

A Keynesian model of the macroeconomy that includes the two private sectors, the household sector and the business sector. This Keynesian model variation, often termed the basic Keynesian model or the private sector Keynesian model, captures the interaction between induced consumption expenditures and autonomous investment expenditures. This model is commonly used to illustrate the basic workings of Keynesian economics, including equilibrium, disequilibrium, and the multiplier. Equilibrium is identified as the intersection between the C + I line and the 45-degree line. Two related variations are the three-sector Keynesian model and the four-sector Keynesian model.

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Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either a flower arrangement in a coffee cup for your father or a how-to book on meeting people. Be on the lookout for small children selling products door-to-door.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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