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Most economists agree that the immediate determinant of the volume of output and employment is the?
Wiki User
∙ 12y ago
Level of total spending
Wiki User
∙ 12y ago
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What do most economists agree that the immediate determinant of the volume of output and employment is the?
Level of total spending
How output and employment equilibrium is achieved through production in the classical theory?
equlibrium output and employment
A recession is a period in which?
Domestic output, and employment falls
When economists use market values to aggregate output they sum the what?
price times the quantity of each item produced
When is Economists usually call an industry an oligopoly?
the four largest firms produce at least 70 to 80 % of the output
What do most economists agree that the immediate determinant of the volume of output and employment is the?
Level of total spending
How output and employment equilibrium is achieved through production in the classical theory?
equlibrium output and employment
Which Site is the major determinant of peripheral resistance?
cardiac output and heart rate
When economists refer to investment they are describing a situation where?
resources are devoted to increasing future output.
Some economists argue that at low levels of GDP lower than the long-run level of output?
Some economists maintain that under the conditions of a liquidity trap. Today, most economists favor a low and steady rate of inflation.
A recession is a period in which?
Domestic output, and employment falls
When economists use market values to aggregate output they sum the what?
price times the quantity of each item produced
When is Economists usually call an industry an oligopoly?
the four largest firms produce at least 70 to 80 % of the output
What are the criticism of classical theory of output and employment?
its introduced by classical economist, there are basically two way to examine classical theory, they are 1 determination of employment 2 determination of output
Economists use the concept ''full employment'' What does it mean?
"Full Employment" is used to define the ideal situation when all resources of an economy (capital (human and physical), land, labour, etc.) are fully put to use to produce output. But it necessarily may not mean the maximum output the economy may produce, because all maybe employed but not used to its fullest potential. But I believe its a classical concept and makes analysis easier but now we have models that take unemployment into consideration.
How does real GDP affect unemployment rate?
Real GDP is a measure of the economic output of a country. The absolute measure only tells you what that output was for a particular period. The more important measure for employment is the difference between real GDP and a theoretical real GDP which economists use to calculate the maximum output of an economy. When the gap between real GDP and maximum output GDP is large, the unemployment rate will be large and vice versa.
Comparison of classical and neo classical economist?
classical economists are those economists who used 'scarce resources' concepts in their economic theories where as neo ones used price output income distribution like concepts in their theories.
