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January 26, 2025 

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AGGREGATE EXPENDITURES: The total expenditures on gross domestic product undertaken in a given time period by the four sectors -- household, business, government, and foreign. Expenditures made by each of these sectors are specifically labeled consumption expenditures, investment expenditures, government purchases, and net exports. Aggregate expenditures (AE) are a cornerstone in the study of macroeconomics, playing critical roles in Keynesian economics, aggregate market analysis, and to a lesser degree, monetarism.

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GOLD CERTIFICATE: Paper currency issued by the U. S. Treasury from the civil war until 1933 that could be exchanged for an equal value of gold. Gold certificates were used as part of a gold standard. With the exception of collectors, gold certificates have long been out of circulation, replaced first by silver certificates, then in the past few decades by Federal Reserve notes.

     See also | money | currency | gold standard | silver certificate | Federal Reserve note |


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MONOPOLISTIC COMPETITION, ADVERTISING

Advertising is commonly used by firms operating under monopolistic competition as a way to create product differentiation and thus to acquire some degree of market control and thus charge a higher price.

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[What's This?]

Today, you are likely to spend a great deal of time wandering around the shopping mall hoping to buy either a New York Yankees baseball cap or a solid oak entertainment center. Be on the lookout for attractive cable television service repair people.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
"It has been my philosophy of life that difficulties vanish when faced boldly. "

-- Isaac Asimov

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