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What Do Firms Need to Know About Their Competitors and What

question 23

Essay

What do firms need to know about their competitors and what intelligence-gathering techniques can be used to obtain this information?


Definitions:

Monetary Policies

Actions undertaken by a central bank, such as the Federal Reserve, to influence the availability and cost of money and credit to help promote national economic goals.

Fiscal Policies

Government policies regarding taxation and spending that are used to influence the economy.

Natural Rate of Unemployment

The unemployment rate at which the economy is considered to be at full employment, with no cyclical or deficient-demand unemployment.

Phillips Curve

An economic theory proposing a short-term inverse relationship between inflation and unemployment rates, initially suggested by economist A.W. Phillips.

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