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Nowcasting in economics is the prediction of the very recent past, the present, and the very near future state of an economic indicator. The term is a portmanteau of "now" and "forecasting" and originates in meteorology.
In economics, the concept of returns to scale arises in the context of a firm's production function.It explains the long-run linkage of increase in output (production) relative to associated increases in the inputs (factors of production).
Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
A macroeconomic model is an analytical tool designed to describe the operation of the problems of economy of a country or a region. These models are usually designed to examine the comparative statics and dynamics of aggregate quantities such as the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the level of prices.
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 ...
Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. [1] This includes regional, national, and global economies .
Detection and nowcasting technology was also implemented in much of the world and particularly around major airports, which in many cases actually have wind shear detection equipment on the field. This detection equipment helps air traffic controllers and pilots make decisions on the safety and feasibility of operating on or in the vicinity of ...
A vortex pair usually has a lateral to vertical dimension ratio of around 3:1. [6] [7] [9] Experimental studies have shown that the aspect ratio (a ratio of roll wavelength to boundary layer depth) has been found to vary between 2:1 and 6:1, however, in some situations, the aspect ratio may be as large as 10:1. The lifetime of a convective roll ...