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Headway is the distance or duration between vehicles in a transit system. The minimum headway is the shortest such distance or time achievable by a system without a reduction in the speed of vehicles. The precise definition varies depending on the application, but it is most commonly measured as the distance from the tip (front end) of one ...
Definition [ edit ] According to the four stages of a business cycle (expansion, peak, contraction, trough), an expansion is an upward trend when a country's economy experiences relatively rapid growth as measured by a rise in industrial production, employment, consumer spending, and utilization of resources.
Business cycles are intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, government institutions, and private sector firms. There are many definitions of a business cycle.
Passenger car equivalent (PCE) or passenger car unit (PCU) is a metric used in transportation engineering to assess traffic-flow rate on a highway. [1]A passenger car equivalent is essentially the impact that a mode of transport has on traffic variables (such as headway, speed, density) compared to a single car.
Keynesian economics advocates the use of automatic and discretionary countercyclical policies to lessen the impact of the business cycle. One example of an automatically countercyclical fiscal policy is progressive taxation. By taxing a larger proportion of income when the economy expands, a progressive tax tends to decrease demand when the ...
A SCORE Mentor Can Help You Build a Detailed Business Plan. Sources: ASK Score 2023, An Easy Guide to the Business Model Canvas, Creately Blog, May 18, 2022. Thanks to our subscribers, who help ...
In economics, a trough is a low turning point or a local minimum of a business cycle. The time evolution of many economics variables exhibits a wave-like behavior with local maxima (peaks) followed by local minima (troughs). A business cycle may be defined as the period between two consecutive peaks. [1] [2]
Business cycle accounting is an accounting procedure used in macroeconomics to decompose business cycle fluctuations into contributing factors. The procedure was introduced by V. V. Chari, Patrick Kehoe, and Ellen McGrattan but is similar to techniques introduced earlier. The underlying premise of the procedure is that the economy has a long ...