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Economic graphs are presented only in the first quadrant of the Cartesian plane when the variables conceptually can only take on non-negative values (such as the quantity of a product that is produced). Even though the axes refer to numerical variables, specific values are often not introduced if a conceptual point is being made that would ...
A current–voltage characteristic or I–V curve (current–voltage curve) is a relationship, typically represented as a chart or graph, between the electric current through a circuit, device, or material, and the corresponding voltage, or potential difference, across it.
The difference between potential output and actual output is referred to as output gap or GDP gap; it may closely track lags in industrial capacity utilization. [ 4 ] Potential output has also been studied in relation Okun's law as to percentage changes in output associated with changes in the output gap and over time [ 5 ] and in decomposition ...
Voltage, also known as (electrical) potential difference, electric pressure, or electric tension is the difference in electric potential between two points. [ 1 ] [ 2 ] In a static electric field , it corresponds to the work needed per unit of charge to move a positive test charge from the first point to the second point.
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
The functioning of the productive capacity graph is the same as for the above-mentioned PPF graph. The only possible outputs are those that lie under and on the PPF line. If an economy suffers from an under-production, thus an output point can be located under the productive potential, the economy loses its maximum potential output and spare ...
Okun's law is an empirical relationship. In Okun's original statement of his law, a 2% increase in output corresponds to a 1% decline in the rate of cyclical unemployment; a 0.5% increase in labor force participation; a 0.5% increase in hours worked per employee; and a 1% increase in output per hours worked (labor productivity).
[1] [2] [3] The current is measured immediately before each potential change, and the current difference is plotted as a function of potential. By sampling the current just before the potential is changed, the effect of the charging current can be decreased. By contrast, in normal pulse voltammetry the current resulting from a series of ever ...