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OLIGOPOLY, REALISM: Real world markets are heavily populated by oligopoly. About half of all output produced in the U.S. economy each year is done so by oligopoly firms. Other industrialized nations can make a similar claim. Oligopoly markets arise in a wide assortment different industries, ranging from manufacturing to retail trade to resource extraction to financial services.

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SUPPLY INCREASE: An increase in the willingness and ability of sellers to sell a good at the existing price, illustrated by a rightward shift of the supply curve. An increase in supply results in an increase in equilibrium quantity and a decrease in equilibrium price.

     See also | supply | supply curve | supply price | supply determinants | equilibrium quantity | equilibrium price | equilibrium | resource prices | other prices | substitute-in-production | complement-in-production | sellers' expectations | number of sellers | supply decrease | demand increase | demand decrease |


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SUPPLY INCREASE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: July 23, 2018].


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BALANCED-BUDGET MULTIPLIER

A measure of the change in aggregate production caused by equal changes in government purchases and taxes. The balanced-budget multiplier is equal to one, meaning that the multiplier effect of a change in taxes offsets all but the initial production triggered by the change in government purchases. This multiplier is the combination of the expenditures multiplier, which measures the change in aggregate production caused by changes in an autonomous aggregate expenditure, and the tax multiplier which measures the change in aggregate production caused by changes in taxes.

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