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REGULATORY PRICING: Government control over the price charge in a market, especially by a firm with market control. Price regulation is most commonly used for public utilities characterized as natural monopolies. If allowed to maximize profit without restraint, the price charged would exceed marginal cost and production would be inefficient. However, because such firms, as public utilities, produce output that is deemed essential or critical for the public, government steps in to regulate or control the price. The two most common methods of price regulation are marginal-cost pricing and average-cost pricing.

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KUZNETS CYCLE: A cycle of economic activity lasting between 15 and 20 years that acquired the name of the first economist to study it, Nobel Prize laureate Simon Kuznets. The Kuznets cycle is attributed to investment in housing and building construction and is well know among professionals in the real estate market. This is one of four separate cycles of macroeconomic activity that have been documented or hypothesized. The other three are Kitchin cycle, Juglar cycle, and Kondratieff cycle.

     See also | business cycle | Kitchin cycle | Juglar cycle | Kondratieff cycle | investment | investment business cycle |


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ASSUMPTIONS, KEYNESIAN ECONOMICS

The macroeconomic study of Keynesian economics relies on three key assumptions--rigid prices, effective demand, and savings-investment determinants. First, rigid or inflexible prices prevent some markets from achieving equilibrium in the short run. Second, effective demand means that consumption expenditures are based on actual income, not full employment or equilibrium income. Lastly, important savings and investment determinants include income, expectations, and other influences beyond the interest rate. These three assumptions imply that the economy can achieve a short-run equilibrium at less than full-employment production.

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Today, you are likely to spend a great deal of time browsing through a long list of dot com websites seeking to buy either a really, really exciting, action-filled video game or a coffee cup commemorating the moon landing. Be on the lookout for slow moving vehicles with darkened windows.
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The average bank teller loses about $250 every year.
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