|
|
INFLATIONARY GAP, KEYNESIAN MODEL: The difference between equilibrium aggregate production achieved in the Keynesian model and full-employment aggregate production that occurs when equilibrium aggregate production is greater than full-employment aggregate production. An inflationary gap, also termed an expansionary gap, is associated with a business-cycle expansion. The prescribed Keynesian remedy for an inflationary gap is contractionary fiscal policy. This is one of two alternative output gaps that can occur when equilibrium generates production that differs from full employment. The other is a recessionary gap.
Visit the GLOSS*arama
|
|
|
|
|
ASSUMPTIONS, PRODUCTION POSSIBILITIES The four key assumptions underlying production possibilities analysis are: (1) resources are used to produce one or both of only two goods, (2) the quantities of the resources do not change, (3) technology and production techniques do not change, and (4) resources are used in a technically efficient way.
Complete Entry | Visit the WEB*pedia |
|
|
RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet looking to buy either any book written by Isaac Asimov or a how-to book on building remote controlled airplanes. Be on the lookout for defective microphones.
Your Complete Scope
This isn't me! What am I?
|
|
|
Two and a half gallons of oil are needed to produce one automobile tire.
|
|
|
"Difficulty is the excuse history never accepts. " -- Edward R. Murrow, News broadcaster
|
|
JEMS
Journal of Economics and Management Strategy
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
