Marginal Efficiency of Capital (MEC)
by Marginal Efficiency of Capital (MEC) is a concept used in economics to describe the expected …
Month: April 2023
Marginal Efficiency of Investment (MEI)
Marginal Efficiency of Investment (MEI) is a concept that is related to the Marginal Efficiency …
Permanent Consumption Hypothesis
The Permanent Income Hypothesis (PIH) is a theory in macroeconomics that suggests that people base …
Quantity Theory of Money
The quantity theory of money is a theory in economics that explains the relationship between …
Relative Income Hypothesis
The Relative Income Hypothesis (RIH) is a concept in economics that explains how people’s consumption …
Say’s Law
Say’s Law is a principle in economics that suggests that supply creates its own demand. …
Wage-Price Flexibility and Full employment
Wage-price flexibility is closely linked to the concept of full employment equilibrium, which occurs when …
IS-LM Analysis, Derivation of IS and LM Functions
IS-LM Analysis The IS-LM model is a tool used in macroeconomics to analyze the relationship …
Joint determination of National Income and rate of Interest and Shift and IS and LM Curves
In an open economy, the determination of national income and the interest rate are jointly …
National Income Determination in an Open Economy
National income determination in an open economy refers to the process by which the total …