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A free variable is a notation (symbol) that specifies places in an expression where substitution may take place and is not a parameter of this or any container expression. The idea is related to a placeholder (a symbol that will later be replaced by some value), or a wildcard character that stands for an unspecified symbol. In computer ...
The general price level is a hypothetical measure of overall prices for some set of goods and services (the consumer basket), in an economy or monetary union during a given interval (generally one day), normalized relative to some base set.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
In the first section a free variable is clearly defined, but then it jumps directly to an example of a bound variable, but not a definition. Emry ( talk ) 07:27, 9 October 2008 (UTC) [ reply ] Whether a variable is bound or not depends always on the context. -- 77.1.51.135 ( talk ) 11:24, 7 February 2011 (UTC) [ reply ]
The formal parameter variable is said to bind the variable name wherever it occurs free in the body. Variable (names) that have already been matched to formal parameter variable are said to be bound. All other variables in the expression are called free. For example, in the following expression y is a bound variable and x is free: . . Also note ...
This equation is a rearrangement of the definition of velocity: :=. As such, without the introduction of any assumptions, it is a tautology . The quantity theory of money adds assumptions about the money supply, the price level, and the effect of interest rates on velocity to create a theory about the causes of inflation and the effects of ...
Major topics include measurement of economic performance, national income and price determination, fiscal and monetary policy, and international economics and growth. AP Macroeconomics is frequently taught in conjunction with (and, in some cases, in the same year as) AP Microeconomics as part of a comprehensive AP Economics curriculum, although ...
The economic model is a simplified, often mathematical, framework designed to illustrate complex processes. Frequently, economic models posit structural parameters. [1] A model may have various exogenous variables, and those variables may change to create various responses by economic variables. Methodological uses of models include ...