This is known as the recessionary gap
In the short run, equilibrium GDP is the level of output at which output and aggregate expenditure are equal
It is the output of an economy that equates aggregate supply with aggregate demand.
The equilibrium wage falls and the equilibrium quantity of labor rises
above equilibrium
equlibrium output and employment
In the short run, equilibrium GDP is the level of output at which output and aggregate expenditure are equal
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 .
It is the output of an economy that equates aggregate supply with aggregate demand.
The equilibrium wage falls and the equilibrium quantity of labor rises
The equilibrium potential refers to the electrochemical potential at equilibrium of a particular ion, as calculated by the Nernst equation. The resting potential refers to the weighted average based upon membrane permeabilities of all the equilibrium potentials of the various ions in a given cell, as calculated by the Goldman equation.
The equilibrium price is the unit cost, which is the same as the total cost divided by the number of units produced (output).
above equilibrium
equlibrium output and employment
Actual output is the "real" GDP ( gross domestic product). potential output is the targeted output set by the government. the difference between the actual and potential output is UNDEREMPLOYMENT!
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.
Equilibrium potential is referring to the equilibrium (or balance) established between the forces of diffusion and electrical forces specific to each ion. For example, the equilibrium potential for Potassium, K+, in a cell with a semi permeable membrane is -80mV or Ek+=80mV. The membrane potential, on the other hand, refers to the voltage across the membrane at anytime and takes into account a range of equilibrium potentials such as Potassium, Sodium etc.
At equilibrium potential, the forces on an ion are balanced, meaning there is no net movement of ions across the membrane. The electrical force due to the membrane potential balances the chemical force due to the concentration gradient, resulting in equilibrium. This can be seen in action for ions like potassium (K+) at its equilibrium potential in a resting neuron.