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Google Adsense is a pretty smart advertising service. The ads change depending on what is located on the page where they're displayed. And they have a huge inventory of people paying for various keywords, etc.
That said, they have some tracking tools, but a lot of what you make is still up in the air. It depends on what people are paying for, and what kind of site you're running. You really have to have some traffic for it pay off in any big way.
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