0
What else can I help you with?
What is equilibrium GDP?
In the short run, equilibrium GDP is the level of output at which output and aggregate expenditure are equal
If the equilibrium output is below potential output?
This is known as the recessionary gap
What happens to the equilibrium wage and quantity of labor if output rises?
The equilibrium wage falls and the equilibrium quantity of labor rises
How output and employment equilibrium is achieved through production in the classical theory?
equlibrium output and employment
What is the impact of changes in autonomous consumption on equilibrium output in the Keynesian Cross model, assuming the consumption function is given by a specific equation?
In the Keynesian Cross model, changes in autonomous consumption can affect equilibrium output. Autonomous consumption refers to the amount of consumption that occurs regardless of income levels. If autonomous consumption increases, it will shift the consumption function upwards, leading to higher equilibrium output. Conversely, if autonomous consumption decreases, it will shift the consumption function downwards, resulting in lower equilibrium output. The specific equation of the consumption function will determine the exact impact of changes in autonomous consumption on equilibrium output in the model.
What is equilibrium GDP?
In the short run, equilibrium GDP is the level of output at which output and aggregate expenditure are equal
If the equilibrium output is below potential output?
This is known as the recessionary gap
What happens to the equilibrium wage and quantity of labor if output rises?
The equilibrium wage falls and the equilibrium quantity of labor rises
How do you find equilibrium price when given output and total cost?
The equilibrium price is the unit cost, which is the same as the total cost divided by the number of units produced (output).
How output and employment equilibrium is achieved through production in the classical theory?
equlibrium output and employment
What is the impact of changes in autonomous consumption on equilibrium output in the Keynesian Cross model, assuming the consumption function is given by a specific equation?
In the Keynesian Cross model, changes in autonomous consumption can affect equilibrium output. Autonomous consumption refers to the amount of consumption that occurs regardless of income levels. If autonomous consumption increases, it will shift the consumption function upwards, leading to higher equilibrium output. Conversely, if autonomous consumption decreases, it will shift the consumption function downwards, resulting in lower equilibrium output. The specific equation of the consumption function will determine the exact impact of changes in autonomous consumption on equilibrium output in the model.
How a firm reaches the equilibrium when output is given and when cost is given?
must be smaller thean the price effect
An increase in the federal budget deficit?
Raises the equilibrium level of output and employment.
Assume the US economy is in short-run equilibrium with a price level of 150 and output of 6 billion The money m What is the impact of the Federal Reserve's policy on the equilibrium interest rate?
It Falls
What happens to resources when a pure monopoly is at the profit maximizing output?
The economy is at equilibrium as both government suffer insufficient funds
What is the Define population?
In Economics, an equilibrium population N is at once the smallest number of people who can produce the given output Q, and also the largest number of people who can survive with the same output Q. [This definition first appeared in Mohammad Gani's doctoral dissertation at New York University in 1995.] An equilibrium magnitude is determined by identifying at least two terminations: first, something terminates the variable from being any larger than what it is. Second, something else terminates the variable from being any smaller than what it is. An equilibrium cannot be defined except in a functional form. Thus variable N is said to be in equilibrium with respect to variable Q two time over. First, to produce any given quantum of output Q, a determinate number of people N must work. The population cannot be any smaller for the given output level. Secondly, people consume the output and the given output cannot support any population larger than N. Theoretically, the growth rate of the equilibrium population must be zero: it must neither increase nor decrease.
What is work efficiency?
The point where the y and x axis meet. You are at your maximum potential of output based on your Supply and Demand curves. See equilibrium .
