A monetary policy rule that postulates how a central bank determines interest rates based on deviations in inflation and output gap from their target values.
An essential term in macroeconomics that aggregates consumer expenditure, government final consumption, and gross domestic capital formation without deductions for imports or capital consumption.
A transitive relation is a relationship between elements where if element A is related to element B and element B is related to element C, then element A is also related to element C.