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REAL INTEREST RATE: The market, or nominal interest rate, after adjusting for inflation. This is the interest rate lenders receive and borrowers pay expressed in real dollars. There two ways to think about the real interest rate, (1) the historical, after-the-fact, interest rate and (2) the desired interest rate lenders and borrowers have in mind when entering into a loan. The first one tells us the purchasing power of any interest payments received or paid. The second way of looking at the real interest rate is based on expectations of the future.
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Lesson 22: Factor Supply | Unit 3: Factor Supply
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Page: 16 of 25
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Topic:
Supply Curves Times Two
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- Market control on the buying side of factor markets means that firms can face one of two types of supply curves for the factors their employ:
- Perfect Competition:
If we're looking for a buyer with absolutely no market control, then we are looking for perfect competition.
- Monopsony, Oligopsony, and Monopsonistic Competition:
If we're looking for a buyer with market control, then we can choose among monopsony, oligopsony, and monopsonistic competition.
- The relative elasticity of this curve depends, of course, on the market control of the buying firm.
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GOVERNMENT PURCHASES DETERMINANTS Ceteris paribus factors, other than aggregate income or production, that are held constant when the government purchases line is constructed and which cause the government purchases line to shift when they change. Some of the more important government purchases determinants are fiscal policy and politics.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"The greatest things ever done on Earth have been done little by little. " -- William Jennings Bryan
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PSE
Pacific Stock Exchange (US, LA and San Francisco)
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