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COMPETITION ALONG A LINE: A basic analysis of location theory that demonstrates how and why competing firms tend to locate next to each other. This analysis indicates that as firms attempt to attract customers from each other, they edge increasingly closer. In particular, while an efficient situation (indicated by minimum transportation cost) is obtained by a more disperse location of firms, competition brings them together and creates inefficiency (by increasing transportation cost)
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MACROECONOMIC THEORIES Scientific theories that seek to explain phenomena associated with the macroeconomy. The primary phenomena investigated are unemployment, inflation, and the level of aggregate production. Macroeconomic theories also inevitably provide policy recommendations intended to improve the performance of the economy and to correct macroeconomic problems. A few of the more noted macroeconomic theories are: Classical economics, Keynesian economics, aggregate market (AS-AD) analysis, IS-LM analysis, Monetarism, and New Classical economics.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall hoping to buy either a genuine fake plastic Tiffany lamp or a microwave over that won't burn your popcorn. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"You are younger today than you will ever be again. Make use of it for the sake of tomorrow. " -- Norman Cousins, editor
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BJE
Bell Journal of Economics
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