A detailed exploration of the inflation-adjusted budget deficit, its concepts, analysis across economic schools of thought, and contextual applications.
The economics term 'inflationary gap' refers to the excess of the actual level of economic activity over the level corresponding to the non-accelerating inflation rate of unemployment, leading to increased inflation.
An economic phenomenon where prices and wages continuously escalate, leading to persistent inflation.
Definition and meaning of information in the context of economics
An agreement by firms to share information on prices, discounts, and conditions of sale.
Information asymmetry occurs when one party in a transaction has more or better information than the other party.
A method for model selection that incorporates likelihood function and penalizes the complexity of the model. Notable examples are Akaike Information Criterion (AIC) and Bayes-Schwarz Information Criterion (BIC).
Detailed entry for the term 'infrastructure' within economic contexts, discussing its definition, historical context, and surrounding concepts.
A tax on amounts inherited by particular heirs, with varying rates depending on the relationship with the deceased and the amount received.
The initial state or parameters from which a dynamic economic system begins its analysis; essential in determining subsequent path and equilibrium.
The first sale of stock by a private company to the public, marking the transition from private ownership to public trading.
Injections to the circular flow of income refer to forms of spending that do not originate from current income such as investment spending by firms, government expenditure, and export sales to foreigners.
