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hog cycle (E3, Q1)<br />An alternation between excess demand and excess supply in the pig market in the USA. The cycle inspired the coBWEB theorem.
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Pigou effect (E2)<br />The effect on consumption of a change in the real value of cash balances brought about by a change in the money supply, e.g. an increase in the money supply which causes a rise in prices, a reduction in the purchasing power of cash balances which results in lower consumption. Diagrammatically, this effect can be shown as a shift in the IS curve. Also known as the 'real balance effect'.<br /><em>See also:</em> IS-LM curves
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<strong>GED</strong> – General Educational Development certificate, an equivalent of a high school diploma. (See also “Ability to benefit.” )
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