Word: marketed
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Dates: during 1970-1979
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With all these controls, why have prices risen so much faster than expected? One main reason is that market pressures kept prices below the federal ceilings when gas was plentiful. There was price competition among gas stations vying for customers. When supplies diminished, service stations raised the price to the legal maximum limit-an increase that outstripped the OPEC price rise. Beyond that, retailers who sold below the maximum price were allowed to "bank" the difference; now they can legally add that amount to the price they charge for gas. Such are the vagaries of regulation...
...from the official rates of around $1 to as high as $1.70 per gal. at a few stations in New York City and Boston. Some station owners have justified these rates by saying that they had to pay more than $1.25 to wholesalers, but most were charging what the market would bear-i.e., a black market. The major oil companies are not involved in the black market. "We have too many auditors looking over their shoulders," says a DOE regulator...
...Market Adjustments...
Moore has recently researched drug abuse, gun control, organized crime control, analysis of implementation problems and public management. He has also published several articles on regulation the heroin market...
...have the worst of both worlds, high interest costs and disintermediation." Disintermediation is bankers' jargon for loss of deposits to higher yielding investments, such as Treasury bills. For a while, savings officials thought that this had been averted through the introduction in mid-1978 of six-month money-market certificates (M.M.C.s), whose payout is tied to the going Treasury-bill rate, currently 8.87% for six-month bills. But the M.M.C.s did not bring in just new money; they also attracted funds that the thrifts already held in lower yielding savings accounts. Result: the savings institutions' deposits held...