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A macroeconomic model is an analytical tool designed to describe the operation of the problems of economy of a country or a region. These models are usually designed to examine the comparative statics and dynamics of aggregate quantities such as the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the level of prices.
A farm crisis is an American term for a time of agricultural recession, low crop prices and low farm incomes. The Interwar farm crisis was an extended period of depressed agricultural incomes from the end of the First to the start of the Second World War. The most recent US farm crisis occurred during the 1980s. [1] [2] [3]
Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. [1] This includes regional, national, and global economies .
Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena. Research is conducted using a combination of historical methods, statistical methods and the application of economic theory to historical situations and institutions.
The main prewar agricultural products of the Confederate States were cotton, tobacco, and sugarcane, with hogs, cattle, grain and vegetable plots. Pre-war agricultural production estimated for the Southern states is as follows (Union states in parentheses for comparison): 1.7 million horses (3.4 million), 800,000 mules (100,000), 2.7 million dairy cows (5 million), 5 million sheep (14 million ...
Crash Course (sometimes stylized as CrashCourse) is an educational YouTube channel started by John Green and Hank Green (collectively the Green brothers), who became known on YouTube through their Vlogbrothers channel. [2] [3] [4] Crash Course was one of the hundred initial channels funded by YouTube's $100 million original channel initiative.
In economics, the consumption function describes a relationship between consumption and disposable income. [1] [2] The concept is believed to have been introduced into macroeconomics by John Maynard Keynes in 1936, who used it to develop the notion of a government spending multiplier. [3]
That article and subsequent research led to a positive research program for how to do dynamic, quantitative economics. [7] The Lucas critique was an important methodological innovation. It does not invalidate that fiscal policy may be countercyclical, which some associate with John Maynard Keynes.