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U.S. TREASURY NOTE: One kind of government security issued by the U. S. Treasury to obtain the funds used to finance the federal budget deficit. A Treasury note (or T-note) has a maturity length of between one and 10 years.
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Lesson 20: Oligopoly | Unit 4: Analysis
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Page: 19 of 24
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- A handy way to analyze this type of market interdependence is through game theory.
- Game theory is an analysis that illustrates how the choices between two players affect the outcomes of a "game."
- Assume the market has only two firms, OmniCola and Juice-Up.
- Each is thinking about spending $50 million on advertising.
- This table presents alternative outcomes for different advertising choices by OmniCola and Juice-Up:
- If OmniCola and Juice-Up BOTH decide to advertising, then each receives $200 million in profit.
- However, if NEITHER OmniCola or Juice-Up decide to advertising, then each receives $250 million in profit.
- Alternatively, if OmniCola advertises but Juice-Up does not, then OmniCola receives $350 million in profit and Juice-Up receives only $100 in profit.
- But, if Juice-Up advertises and OmniCola does not, then Juice-Up receives $350 million in profit and OmniCola receives only $100 in profit.
- What to do?
- The end result is that both firms decide to advertise.
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AUTONOMOUS NET EXPORTS Net exports by the foreign sector that do not depend on income or production (especially national income or gross domestic product). That is, changes in income do not generate changes in net exports. Autonomous net exports are best thought of as net exports that the foreign sector undertakes independent of income. They are measured by the intercept term of the net exports line. The alternative to autonomous net exports is induced net exports, which do depend on income.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet looking to buy either a T-shirt commemorating last Friday (you know why) or a rotisserie oven that can also toast bread. Be on the lookout for telephone calls from former employers.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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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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CPI-W
Consumer Price Index-Urban Wage Earners and Clerical Workers
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