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CAPITAL CONSUMPTION ADJUSTMENT: The official item in the National Income and Product Accounts maintained by the Bureau of Economic Analysis that measures the macroeconomy's capital depreciation during a given time period, usually one year. The capital consumption adjustment, which is also commonly termed the capital consumption allowance, both of which conveniently go by the abbreviation of CCA, is subtracted from gross domestic product (GDP) to calculate net domestic product (NDP). The CCA is also subtracted from gross private domestic investment to calculate net private domestic investment.
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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. See also | inflationary gap | recessionary gap, Keynesian model | Keynesian model | Keynesian equilibrium | two-sector Keynesian model | three-sector Keynesian model | four-sector Keynesian model | Keynesian disequilibrium | injections-leakages model | multiplier | fiscal policy | contractionary fiscal policy | expansionary fiscal policy | Keynesian economics | Keynesian cross | aggregate expenditures | aggregate expenditures line | effective demand | induced expenditures | autonomous expenditures | macroeconomics | full employment | automatic stabilizers | injections | leakages | Keynesian cross and aggregate market | expenditures multiplier | accelerator principle | paradox of thrift | aggregate market analysis | business cycles |
Recommended Citation:INFLATIONARY GAP, KEYNESIAN MODEL, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: July 18, 2026].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: inflationary gap, Keynesian model
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LAW OF INCREASING OPPORTUNITY COST The proposition that opportunity cost, the value of foregone production, increases as the quantity of a good produced increases. This fundamental economic principles can be seen in the production possibilities schedule and is illustrated graphically through the slope of the production possibilities curve. It generates a distinctive convex shape, flat at the top and steep at the bottom.
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Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for telephone calls from former employers.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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