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A market correction is a rapid change in the nominal price of a commodity, after a barrier to free trade has been removed and the free market establishes a new equilibrium price. It may also refer to several such single-commodity corrections en masse , as a collective effect over several markets concurrently.
Keynesian economics advocates the use of automatic and discretionary countercyclical policies to lessen the impact of the business cycle. One example of an automatically countercyclical fiscal policy is progressive taxation. By taxing a larger proportion of income when the economy expands, a progressive tax tends to decrease demand when the ...
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 ...
Formally, grey systems theory describes uncertainty by interval-valued unknowns called grey numbers, with the width of the interval reflecting more or less precise knowledge. [3] With this definition, information quantity and quality form a continuum from a total lack of information to complete information – from black through grey to white ...
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 ...
A common and specific example is the supply-and-demand graph shown at right. This graph shows supply and demand as opposing curves, and the intersection between those curves determines the equilibrium price. An alteration of either supply or demand is shown by displacing the curve to either the left (a decrease in quantity demanded or supplied ...
The College Board offers AP courses across the academic spectrum, including in math, science, social studies, foreign languages and fine arts. The courses are optional and taught at a college level.
If a chart plots 10 colors or fewer, then by default it uses every other one: The colors can be manually set in a graph by adding them to the 'colors' parameter. For example, for two pie charts, the first of which is default and the second of which omits some colors in the first, you would manually enter your selections from the default 20: