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The lever is operated by applying an input force F A at a point A located by the coordinate vector r A on the bar. The lever then exerts an output force F B at the point B located by r B. The rotation of the lever about the fulcrum P is defined by the rotation angle θ in radians. Archimedes lever, Engraving from Mechanics Magazine, published ...
The Keynesian cross diagram is a formulation of the central ideas in Keynes' General Theory of Employment, Interest and Money. It first appeared as a central component of macroeconomic theory as it was taught by Paul Samuelson in his textbook, Economics: An Introductory Analysis .
In economics, a Swan Diagram, also known as the Australian model (because it was originally published by Australian economist Trevor Swan [1] in 1956 to model the Australian economy during the Great Depression), represents the situation of a country with a currency peg. [2]
Engraving from an 1824 mechanics magazine illustrating Aristotle's statement that given a place to stand, with a lever a person could move the Earth. The idea of a simple machine originated with the Greek philosopher Archimedes around the 3rd century BC, who studied the Archimedean simple machines: lever, pulley, and screw.
In the case of two goods and two individuals, the contract curve can be found as follows. Here refers to the final amount of good 2 allocated to person 1, etc., and refer to the final levels of utility experienced by person 1 and person 2 respectively, refers to the level of utility that person 2 would receive from the initial allocation without trading at all, and and refer to the fixed total ...
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 ...
Graphical representation of the consumption function, where a is autonomous consumption (affected by interest rates, consumer expectations, etc.), b is the marginal propensity to consume and Yd is disposable income. In economics, the consumption function describes a relationship between consumption and disposable income.
Stock vs. flow Dynamic stock and flow diagram. Economics, business, accounting, and related fields often distinguish between quantities that are stocks and those that are flows. These differ in their units of measurement.