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The multiplier–accelerator model can be stated for a closed economy as follows: [3] First, the market-clearing level of economic activity is defined as that at which production exactly matches the total of government spending intentions, households' consumption intentions and firms' investing intentions.
An early use of the concept was in 1868. The term "wage-price spiral" appeared in a 1937 New York Times article about the Little Steel strike.In the 1970s, US President Richard Nixon attempted to break what he saw as a "spiral" of prices and costs, by imposing a price freeze, with little effect.
"Demand-pull inflation" refers to the effects of falling unemployment rates (rising real gross domestic product) in the Phillips curve model, while the other two factors lead to shifts in the Phillips curve. The built-in inflation originates from either persistent demand-pull or large cost-push (supply-shock) inflation in the past.
Download QR code; Print/export Download as PDF; Printable version; In other projects ... Pages in category "Economics effects" The following 28 pages are in this ...
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.
An economic impact analysis (EIA) examines the effect of an event on the economy in a specified area, ranging from a single neighborhood to the entire globe. It usually measures changes in business revenue, business profits, personal wages, and/or jobs. The economic event analyzed can include implementation of a new policy or project, or may ...
Standard economic theory suggests that in relatively open international financial markets, the savings of any country would flow to countries with the most productive investment opportunities; hence, saving rates and domestic investment rates would be uncorrelated, contrary to the empirical evidence suggested by Martin Feldstein and Charles ...
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