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ACTIVIST POLICY: Government policies that involve explicit actions designed to achieve specific goals. A common type of activist policy is that designed to stabilize business cycles, reduce unemployment, and lower inflation, through government spending and taxes (fiscal policy) or the money supply (monetary policy). Activist policies are also term discretionary policies because they involve discretionary decisions by government. A contrast to activist policy is automatic stabilizers that help stabilize business cycles without explicit government actions.
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Lesson 18: Monopoly | Unit 2: Revenue
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Page: 10 of 30
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To illustrate the revenue side of monopoly, let's consider a few numbers:- Quantity (Q): In column one, the quantity of output produced ranges from 0 to 12 units.
- Price (P): The second column presents the price received by the monopoly.
- Total Revenue (TR): The monopoly's total revenue is presented in the third column. It is derived as the quantity in the first column multiplied by price in the second column.
- Average Revenue (AR): The fourth column presents average revenue, which is total revenue per unit of output, or total revenue divided by the quantity.
- Marginal Revenue (MR): The fifth column presents marginal revenue, the change in total revenue divided by the change in quantity.
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INTERNATIONAL TRADE The exchange of goods and services among the nations of the world. Also termed foreign trade when viewed from the perspective of a given country, the international exchange of production is comparable to any exchange, except that buyers and sellers are from different countries. The study of international trade highlights an important economic principle, the law of comparative advantage, which helps to explain not only why nations engage in trade but why individuals engage in trade. A related area of study is international finance, both of which are part of the broader study of international economics.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center wanting to buy either a 50 foot extension cord or a combination CD player, clock radio, and telephone (with answering machine). Be on the lookout for cardboard boxes.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"The greatest things ever done on Earth have been done little by little. " -- William Jennings Bryan
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NFS
Not For Sale
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