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January 22, 2018 

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REALISM OF MONOPOLY: If taken to the extreme, monopoly, like perfect competition is an ideal market structure that does not actually exist in the real world. In the extreme, a "pure" monopoly is a market containing one and only ONE seller of good, a good with absolutely, positively no substitutes. The product is absolutely, certifiably unique. It's not just that it has no CLOSE substitutes, it has NO substitutes. Period. End of story. In the real world, however, every product, no matter how seemingly unique it might appear, has substitutes. The substitutes might not be very close. They might be really, really bad substitutes. But they are substitutes. As such, there are no pure monopolies in the real world.

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Lesson 12: Business Cycles | Unit 5: Policies Page: 26 of 26

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  • How stabilization policies can limit or prevent the unemployment and inflation problems caused by business cycle instability.
  • The two main types of stabilization problems, fiscal policy and monetary policy.
  • How expansionary fiscal policy counters contractions with more spending and lower taxes.
  • How expansionary monetary policy counters contractions with more money.
  • How contractionary fiscal policy counters expansions with less spending and higher taxes.
  • How contractionary monetary policy counters expansions with less money.

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SURVEY WEEK, CURRENT POPULATION SURVEY

The calendar week (Sunday through Saturday) containing the 19th day of the month that is used to conduct the Current Population Survey (CPS). This is the time period in which CPS interviews contact occupants of 60,000 households included in the survey. The survey questions posed by the interviewers then refer to the employment activities of the respondents during the previous calendar week, which is the termed the reference week. The activities of survey respondents during the reference week are the source of information used to estimate the unemployment rate and other employment information generated by the CPS.

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Today, you are likely to spend a great deal of time at a garage sale seeking to buy either a coffee cup commemorating the 2000 Olympics or a birthday gift for your grandmother. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
"Now is the only time there is. Make your now wow, your minutes miracles, and your days pay. Your life will have been magnificently lived and invested, and when you die you will have made a difference."

-- Mark Victor Hansen

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Association of International Bond Dealers (now called International Securities Market Association)
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