(2) What are the spatial and temporal characteristics of public service equilibrium in China? (3) What factors influence public service equilibrium at the county level? Fig. 1: Research framework. Based on the background of county-level public service provision in the context of China's ...
Nominal GDP: Nominal GDP is a macroeconomic index of the value of economic output that is not adjusted for price changes such as inflation or deflation in an economy. Government spending, taxes, output, consumption, imports and exports are all factors in the GDP. GDP = C + G + I ...
Monopoly Equilibrium:In a monopoly market, there is a single seller or producer of a product or service. As a result, the equilibrium price is dictated by the seller, who has the power to set prices at a level that maximizes their own profit. Oligopoly Equilibrium:Oligopoly refers to a mar...
with public service equilibrium requiring adaptation in both systems. In the context of fiscal decentralization of public services in China, county-level governments are de facto providers of regional public service resources. On the one hand, in terms of the political legitimacy ...
Unemployment is never zero, even if the economy operated at its possibility frontier, meaning effectively and fully utilizing all its resources and produced the potential output (largest output an economy can afford given its resources), there would still be natural level of unemployment. The ...
Answer and Explanation: Price changes affect equilibrium by increasing or decreasing demand. A lower price will increase demand for a product as more customers can afford the...
Note, of course, here as well as for the static model, that if one needs to assign a specific value to the optimal tax, one would strictly speaking need to evaluate output at its optimal level, and the optimal level of output is not expressed in closed form here (and may be ...
In this regard, we choose the IESA-Opt and ThreeME models for their high level of detail in the energy system and economy, respectively. Then, firstly, we demonstrate the soft-linking process of IESA-Opt and ThreeME, its steps, and underlying assumptions. Secondly, we show the impact of ...
The equilibrium price refers to the price level reached when the supply and demand of specified products are equal. The equilibrium quantity is the total amount of products and services reached when the demand and supply are equal. Changes in equilibrium price will tend to cause change...
What is the meaning of equilibrium in economics with example? What is your opinion on non-equilibrium economics? Consider an economy that is in equilibrium with real GDP=$5,000, MPS=1/4, and MPI=1/5. What will be the new equilibrium level of income if planned investment spending incre...