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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 ...
Macroeconomics is a branch of economics that deals with the performance, ... liquidity and complexity problems in the financial sector, ... For example, if the ...
A typical example is the aggregate production function. [2] Another famous problem is Sonnenschein-Mantel-Debreu theorem. Most of macroeconomic statements comprise this problem. Examples of aggregates in micro- and macroeconomics relative to less aggregated counterparts are: Food vs. apples; Price level and real GDP vs. the price and quantity ...
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In turn, environmental economics has been accused of omitting key financial considerations from its models. For example, the returns to solar power investments are sometimes modelled without a discount factor, so that the present utility of solar energy delivered in a century's time is precisely equal to gas-power station energy today.
The problems of economic growth have been discussed by numerous growth models, including the Harrod-Domar model, the neoclassical growth models of Solow and Swan, and the Cambridge growth models of Kaldor and Joan Robinson. This part of the economic problem is studied in the economies of development.
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.
An example of which was the consequential devaluation of the peso, [which?] that was pegged to the US dollar at 0.08, eventually depreciating by 46%. [ citation needed ] This in turn implies that the country implementing the peg has no ability to set its nominal interest rate independently, and hence no independent monetary policy.