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AD-AS ANALYSIS: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The AS-AD model, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).
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Lesson 20: Oligopoly | Unit 3: Behavior
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Page: 12 of 24
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- More on collusion.
- Collusion is a usually secret agreement among competing firms in an industry to control the market, raise the market price, and otherwise act like a monopoly.
- The reason for secrecy is that such behavior is illegal in the United States as well as most other countries.
- Two types:
- Explicit collusion
- Implicit collusion
- The secretive nature of most explicit collusion makes it very difficult to know when and where it occurs.
- Implicit collusion is even more difficult to identify.
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AUTONOMOUS EXPORTS Exports to the foreign sector that do not depend on domestic income or production (especially national income or gross domestic product). Exports depend on foreign income or production, but not on domestic income or production. While other expenditures have both autonomous and induced components, exports are exclusively autonomous. Autonomous exports are a key part of the autonomous part of net exports. Induced net exports are due to induced imports.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store wanting to buy either a flower arrangement with a lot of roses for your grandmother or a wall poster commemorating the first day of winter. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"Intense concentration hour after hour can bring out resources in people they didn't know they had. " -- Edwin Land, inventor, entrepreneur
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NYBOR
New York Interbank Offered Rate
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