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HOTELLING'S PARADOX: A principle stating that monopolistically competitive firms seek to maintain similarities between products at the same time they maintain differences. Similarities enable substitutability. That is, one firm can attract the buyers away from other firms. Differences enable uniqueness and market control. That is, a firm has a small monopoly for its product that allows it to charge a higher price than achieved with perfect competition. This is also termed the principle of minimum differences.
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STABILIZATION POLICIES Economic policies undertaken by governments to counteract business-cycle fluctuations and prevent high rates of unemployment and inflation. The two most common stabilization policies are fiscal and monetary. Stabilization policies are also termed countercyclical policies, meaning that they attempt to "counter" the natural ups and downs of business "cycles." Expansionary policies are appropriate to reduce unemployment during a contraction and contractionary policies are aimed at reducing inflation during an expansion.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials hoping to buy either a birthday gift for your father that doesn't look like every other birthday gift for your father or a green fountain pen. Be on the lookout for slightly overweight pizza delivery guys.
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The average bank teller loses about $250 every year.
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"Believe and act as if it were impossible to fail." -- Charles F. Kettering
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MGF
Moment Generating Function
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