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A transcritical cycle is a closed thermodynamic cycle where the working fluid goes through both subcritical and supercritical states. In particular, for power cycles the working fluid is kept in the liquid region during the compression phase and in vapour and/or supercritical conditions during the expansion phase.
The multiplier–accelerator model can be stated for a closed economy as follows: [3] First, the market-clearing level of economic activity is defined as that at which production exactly matches the total of government spending intentions, households' consumption intentions and firms' investing intentions.
Nuclear reactors can be susceptible to prompt-criticality accidents if a large increase in reactivity (or k-effective) occurs, e.g., following failure of their control and safety systems. The rapid uncontrollable increase in reactor power in prompt-critical conditions is likely to irreparably damage the reactor and in extreme cases, may breach ...
The random assignment assumption thus allows one to take the difference between the average outcome in the treatment group and the average outcome in the control group as the overall average treatment effect, such that:
For the subcritical region, the highest equilibrium pressure of adsorption is the saturation pressure of adsorbate. Beyond P s {\displaystyle P_{s}} condensation happens. Adsorbate in the adsorbed phase is largely in liquid state, based on which different adsorption and thermodynamic theories as well as their applications were developed.
Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. [1] More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference."
The New Palgrave Dictionary of Economics (2018), 3rd ed., is a twenty-volume reference work on economics published by Palgrave Macmillan.It contains around 3,000 entries, including many classic essays from the original Inglis Palgrave Dictionary, and a significant increase in new entries from the previous editions by the most prominent economists in the field, among them 36 winners of the ...
In economics, a Swan Diagram, also known as the Australian model (because it was originally published by Australian economist Trevor Swan [1] in 1956 to model the Australian economy during the Great Depression), represents the situation of a country with a currency peg.