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Length contraction is the phenomenon that a moving object's length is measured to be shorter than its proper length, which is the length as measured in the object's own rest frame. [1] It is also known as Lorentz contraction or Lorentz–FitzGerald contraction (after Hendrik Lorentz and George Francis FitzGerald ) and is usually only noticeable ...
An economic theory that defines wealth by the amount of precious metals owned. [48] business cycle. Also called the economic cycle or trade cycle. The downward and upward movement of gross domestic product (GDP) around its long-term growth trend. [49] The length of a business cycle is the period of time containing a single boom and contraction ...
The introduction of length contraction and time dilation for all phenomena in a "preferred" frame of reference, which plays the role of Lorentz's immobile aether, leads to the complete Lorentz transformation (see the Robertson–Mansouri–Sexl test theory as an example), so Lorentz covariance doesn't provide any experimentally verifiable ...
Transformation problem: The transformation problem is the problem specific to Marxist economics, and not to economics in general, of finding a general rule by which to transform the values of commodities based on socially necessary labour time into the competitive prices of the marketplace. The essential difficulty is how to reconcile profit in ...
Fig 4-4 Relativistic length contraction, as depicted in a single Loedel spacetime diagram. Both observers consider objects moving with the other observer as being shorter. Relativistic length contraction refers to the fact that a ruler (indicating its proper length in its rest frame) that moves relative to an observer is observed to contract ...
In microeconomics, a production–possibility frontier (PPF), production possibility curve (PPC), or production possibility boundary (PPB) is a graphical representation showing all the possible options of output for two that can be produced using all factors of production, where the given resources are fully and efficiently utilized per unit time.
While length contraction was a real physical effect for Lorentz, he considered the time transformation only as a heuristic working hypothesis and a mathematical stipulation. In 1895, Lorentz further elaborated on his theory and introduced the "theorem of corresponding states".
In economics, a recession is a business cycle contraction that occurs when there is a period of broad decline in economic activity. [ 1 ] [ 2 ] Recessions generally occur when there is a widespread drop in spending (an adverse demand shock ).