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Welfare economics is a branch of economics that uses microeconomic techniques to evaluate economic well-being, especially relative to competitive general equilibrium, with a focus on economic efficiency and income distribution. [13] In general usage, including by economists outside the above context, welfare refers to a form of transfer payment ...
An economic theory that defines wealth by the amount of precious metals owned. [48] business cycle. Also called the economic cycle or trade cycle. The downward and upward movement of gross domestic product (GDP) around its long-term growth trend. [49] The length of a business cycle is the period of time containing a single boom and contraction ...
Its use can be traced back to the late 19th century and Francis Amasa Walker's 'residual claimant theory', [3] which argues that in the distribution of wealth among profits, rent, interest and wages, the laborer is the residual claimant and wages the variable residual share of wealth, thereby going against the established view of profits as the ...
Residual income is the money you have left after your bills are paid. Another term for it is discretionary income -- fitting, because residual income is yours to do with what you want. Ideally ...
Passive income and residual income are two types of personal revenue that separately or together can have a sizable effect on an individual's financial comfort and ability to reach financial goals.
Residual income valuation (RIV; also, residual income model and residual income method, RIM) is an approach to equity valuation that formally accounts for the cost of equity capital. Here, "residual" means in excess of any opportunity costs measured relative to the book value of shareholders' equity ; residual income (RI) is then the income ...
The term "mixed income" is used when operating surplus cannot be distinguished from wage income, for example, in the case of sole proprietorships. Most of operating surplus will normally consist of gross profit income. In principle, it includes the (separately itemised) increase in the value of output inventories held, with or without a ...
Growth accounting is a procedure used in economics to measure the contribution of different factors to economic growth and to indirectly compute the rate of technological progress, measured as a residual, in an economy. [1]