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QUANTITY THEORY OF MONEY: A theory that states a given percentage change in the money supply leads to an equal percentage change in nominal gross domestic product. This theory is derived from the equation of exchange and is a cornerstone of the monetarists view of macroeconomics. A key assumption in translating the equation of exchange to the quantity theory of money is that the velocity of money is constant (or unaffected by the other key variables--output, price level, and money supply).

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Lesson 20: Oligopoly | Unit 1: Intro Page: 2 of 24

Topic: Market Structure Continuum <=PAGE BACK | PAGE NEXT=>

  • The market structure continuum can be illustrated by this diagram.

  • Oligopoly occupies the right half of the continuum.

  • As a continuum, there are no clear-cut dividing lines between oligopoly and the two adjacent market structures. Let's see why:

    Versus Monopoly

    • One or More Than One

    • Substitutes

    • Cooperation

    Versus Monopolistic Competition:

    • Many or Few

    • Dominance by a Few

    • Geographic Area


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ALTERNATIVE UNEMPLOYMENT RATES

The official unemployment rate estimated and reported monthly by the Bureau of Labor Statistics (BLS) using data from Current Population Survey is one of six alternative measures of unemployment tracked and reported by the BLS, officially labeled sequentially U1 through U6. The "official" unemployment rate is U3. The other five measures seek to document different ways in which labor can be under utilized, including unemployment duration, job losers, discouraged workers, marginal workers, and part-time workers.

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APLS

GREEN LOGIGUIN
[What's This?]

Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a wall poster commemorating the 2000 Olympics or a flower arrangement with a lot of roses for your grandmother. Be on the lookout for neighborhood pets, especially belligerent parrots.
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This isn't me! What am I?

John Maynard Keynes was born the same year Karl Marx died.
"Defeat is simply a signal to press onward. "

-- Helen Keller, author, lecturer

NDP
Net Domestic Product
A PEDestrian's Guide
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