(a) How do economists define unemployment? (b) With the help of appropriate diagrams, explain the causes of equilibrium and disequilibrium unemployment. (c) Outline the demand-side and supply-side policies that a country can use to reduce unemployme ...
What are economic models, how do economists use them and how did they get the idea to invent them in the first place? Classical economists believed in Say's Law -- supply creates its own demand. On the other hand, Keynesians do not believe supply creates its own demand. 1. Why don't...
Forecasting trends in the financial market is a classic and challenging problem that attracts economists’ and computer scientists’ attention. This research area, characterized by its dynamic, chaotic, and nonlinear nature, is further complicated by the overarching influence of the efficient market hypot...
Economists use math as a tool for manipulating and exploring economic models. Sometimes it makes sense to express economic ideas in words; other times, math does a better job. Economics is not math, but rather math is a tool for presenting and manipulating/exploring/using economic models. Many...
Building a Neo4j graph model from a natural, realistic model of relationships, bypasses the steps involved with normalizing, de-normalizing, and re-normalizing data. Yet the result is a more robust database format, along with a more capable platform, that lets researchers, engineers, economists,...
And many economists do think inside that larger circuit model. But that model, likewise, is not fully comprehensive. It ignores real assets, and changes in existing-asset prices/values — both real and financial. Because: Including revaluation/cap gains would explode the closed-loop, balance-to...
In the 1950s, economists first used the Kuznets curve to illustrate the correlation between rising income disparity and economic expansion [22]. The EKC (Environmental Kuznets Curve) theory was used when an expanded curve was used in the environmental domain [23]. In the first stages of a gro...
(8)Economistspredictthathousingpriceswillremainforalongperiod.(9),pricesarestillrising.(10)Carsalesfrom180to2,000lastyear.(11)Ifapriceoranamount,itkeepschangingandbecominghigherandlower.(12)Aclientissomeonewhoislikelytobuythingsfromyousoon.rocketed___static___fluctuates___Overall___boothconventionprospect...
In economics, the concept of production efficiency centers around thecharting of a productionpossibility frontier. Economists and operational analysts will typically also consider some other financial factors, such as capacity utilization and cost-return efficiency, when studying economic operational efficiency...
The tradeoff betweeninflationandunemploymentled economists to use the Phillips curve to fine-tune monetary or fiscal policy. Since a Phillips curve for a specific economy would show an explicit level of inflation for a specific rate of unemployment and vice versa, it should be possible to aim for...