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Pages 63-64

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From page 63...
... 63 Glossary of Terms and abbreviaTions (This glossary draws from NCHRP Report 786, with some additional terms added) Agglomeration economies: business productivity benefits gained from the ability of firms to tap a larger labor market, customer market, or supplier market, or increase interaction with other firms -- all enabled by transportation network improvements.
From page 64...
... 64 Input-output model: an economic accounting framework that tracks the flow of spending between industries, households, and institutions and generates measures of the multiplier effect for specific sectors of the economy in specified areas. I-O model: input-output model MPO: metropolitan planning organization Multiplier effect: the effect by which spending for a product or service generates leads to additional rounds of spending for suppliers (indirect effects)

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