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The zero lower bound (ZLB) or zero nominal lower bound (ZNLB) is a macroeconomic problem that occurs when the short-term nominal interest rate is at or near zero, causing a liquidity trap and limiting the central bank's capacity to stimulate economic growth.
US inflation rates. Zero interest-rate policy (ZIRP) is a macroeconomic concept describing conditions with a very low nominal interest rate, such as those in contemporary Japan and in the United States from December 2008 through December 2015 and again from March 2020 until March 2022 amid the COVID-19 pandemic.
The elongated triangular bipyramid is constructed from a triangular prism by attaching two tetrahedrons onto its bases, a process known as the elongation. [1] These tetrahedrons cover the triangular faces so that the resulting polyhedron has nine faces (six of them are equilateral triangles and three of them are squares), fifteen edges, and eight vertices. [2]
A triangular bipyramid is a hexahedron with six triangular faces constructed by attaching two tetrahedra face-to-face. The same shape is also known as a triangular dipyramid [1] [2] or trigonal bipyramid. [3] If these tetrahedra are regular, all faces of a triangular bipyramid are equilateral.
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.
The belief that there must necessarily be more work available if wages drop is an example of the fallacy of composition. [1] The paradox of toil was proposed by Gauti Eggertsson in 2009. [2] The term was coined to parallel the "paradox of thrift", a concept resurrected by John Maynard Keynes and popularized under that name by Paul Samuelson. [3]
Instead, the solution is a corner solution on an axis where either x or y is equal to zero. For instance, from the example above in economics, if the maximal utility of two goods is achieved when the quantity of goods x and y are (−2, 5), and the utility is subject to the constraint x and y are greater than or equal to 0 (one cannot consume a ...
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 ...