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A silent partner or sleeping partner is one who still shares in the profits and losses of the business, but who is not involved in its management. [20] Sometimes the silent partner's interest in the business will not be publicly known. A silent partner is often an investor in the partnership, who is entitled to a share of the partnership's profits.
In macroeconomics, the classical dichotomy is the idea, attributed to classical and pre-Keynesian economics, that real and nominal variables can be analyzed separately. To be precise, an economy exhibits the classical dichotomy if real variables such as output and real interest rates can be completely analyzed without considering what is happening to their nominal counterparts, the money value ...
The nominal value of a commodity bundle tends to change over time. In contrast, by definition, the real value of the commodity bundle in aggregate remains the same over time. The real values of individual goods or commodities may rise or fall against each other, in relative terms, but a representative commodity bundle as a whole retains its ...
Pages for logged out editors learn more. Contributions; Talk; Real vs. nominal in economics
where NX is net exports, e is the nominal exchange rate (the price of foreign currency in terms of units of the domestic currency), Y is GDP, and Y* is the combined GDP of countries that are foreign trading partners. Higher domestic income (GDP) leads to more spending on imports and hence lower net exports; higher foreign income leads to higher ...
In economics, nominal rigidity, also known as price-stickiness or wage-stickiness, is a situation in which a nominal price is resistant to change. Complete nominal rigidity occurs when a price is fixed in nominal terms for a relevant period of time. For example, the price of a particular good might be fixed at $10 per unit for a year.
Traction power networks routinely operate well above the nominal voltage, but still within the tolerance. For example, a streetcar traction power could be rated 600 ±10% volts nominal, but the actual overhead line voltage would normally be close to 660 volts, only dropping near the nominal value in exceptional conditions.
Real business-cycle theory (RBC theory) is a class of new classical macroeconomics models in which business-cycle fluctuations are accounted for by real, in contrast to nominal, shocks. [1] RBC theory sees business cycle fluctuations as the efficient response to exogenous changes in the real economic environment.