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Tobin's q [a] (or the q ratio, and Kaldor's v), is the ratio between a physical asset's market value and its replacement value.It was first introduced by Nicholas Kaldor in 1966 in his paper: Marginal Productivity and the Macro-Economic Theories of Distribution: Comment on Samuelson and Modigliani.
In demography, replacement migration is a theory of migration needed for a region to achieve a particular objective (demographic, economic or social). [1] Generally, studies using this concept have as an objective to avoid the decline of total population and the decline of the working-age population.
Fertility rates must level off to the replacement rate (the net reproduction rate should be 1). If the fertility rate remains higher than the replacement rate, the population would continue to grow. 2. Mortality rate must stop declining, that is, it must remain constant. 3. Lastly, the age structure must adjust to the new rates of fertility and ...
In the long term, zero population growth can be achieved when the birth rate of a population equals the death rate. That is, the total fertility rate is at replacement level and birth and death rates are stable, a condition also called demographic equilibrium. Unstable rates can lead to drastic changes in population levels.
MSY aims at a balance between too much and too little harvest to keep the population at some intermediate abundance with a maximum replacement rate. Relating to MSY, the maximum economic yield (MEY) is the level of catch that provides the maximum net economic benefits or profits to society.
A map of when European fertility rates fell below replacement levels Map of countries by crude birth rate. Map of countries by total fertility rate. Sub-replacement fertility is a total fertility rate (TFR) that (if sustained) leads to each new generation being less populous than the older, previous one in a given area.
Under the standard assumption of neoclassical economics that goods and services are continuously divisible, the marginal rates of substitution will be the same regardless of the direction of exchange, and will correspond to the slope of an indifference curve (more precisely, to the slope multiplied by −1) passing through the consumption bundle in question, at that point: mathematically, it ...
The concept of the elasticity of substitution was developed by two different economists, each with their own focus. One of these economists was John Hicks, who defined elasticity of substitution as the change in percentage in the relative number of factors of production used, given a particular change in percentage in relative prices or marginal products.