|
|
LINE GRAPH: A graph containing one or more lines or curves that are used to represent relations between two (or more) variables. A line graph is a useful method of illustrating scientific principles and hypotheses important for the economic analysis.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 11: Elasticity Basics | Unit 4: A Continuum
|
Page: 17 of 25
|
|
Topic:
Perfectly Elastic
|
|
|
- At one end of the elasticity continuum is perfectly elastic:
- Perfectly elastic is an elasticity alternative in which infinitesimally small changes in one variable (price) cause infinitely large changes in another variable (quantity).
- This works for both the price elasticity of demand and the price elasticity of supply, because the negative value of the price elasticity of demand is ignored.
- Perfectly elastic demand and supply are represented by horizontal demand and supply curves.
|
|
|
|
|
|
|
AGGREGATE DEMAND INCREASE, SHORT-RUN AGGREGATE MARKET A shock to the short-run aggregate market caused by an increase in aggregate demand, resulting in and illustrated by a rightward shift of the aggregate demand curve. An increase in aggregate demand in the short-run aggregate market results in an increase in the price level and an increase in real production. The level of real production resulting from the shock can be greater or less than full-employment real production.
Complete Entry | Visit the WEB*pedia |
|
|
PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a rechargeable battery for your computer or shoe laces for your snow boots. Be on the lookout for high interest rates.
Your Complete Scope
This isn't me! What am I?
|
|
|
Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
|
|
|
"The secret of getting ahead is getting started. The secret of getting started is breaking your complex, overwhelming tasks into small manageable tasks, and then starting on the first one. " -- Mark Twain, writer
|
|
LIML
Limited Information Maximum Likelihood
|
|
|
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
|
|
