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Thus, a supply curve with steeper slope (bigger dP/dQ and thus smaller dQ/dP) is less elastic, for given P and Q. Along a linear supply curve such as Q = a + b P the slope is constant (at 1/b) but the elasticity is b(P/Q), so the elasticity rises with greater P both from the direct effect and the increase in Q(P).
demand pull or short-term Phillips curve inflation, cost push or supply shocks, and; built-in inflation. The last reflects inflationary expectations and the price/wage spiral. Supply shocks and changes in built-in inflation are the main factors shifting the short-run Phillips curve and changing the trade-off.
About 30% of the entire world's millionaire population resides in the United States (as of 2009). [226] The Economist Intelligence Unit estimated in 2008 that there were 16,600,000 millionaires in the U.S. [227] Furthermore, 34% of the world's billionaires are American (in 2011). [228] [229]
Producer surplus (the area above the supply curve but below price) increases by area A, as domestic producers shielded from international competition can sell more of their product at a higher price. Government tax revenue is the import quantity (C2 − Q2) times the tariff price (Pw − Pt), shown as area C.
The country has the world's second-largest foreign-exchange reserves, worth $1.4 trillion. [30] Japan has the third-largest financial assets in the world, valued at $12 trillion, or 8.6% of the global GDP total as of 2020. [31] [32] Japan is the world's largest creditor nation.
Can be built with two dragon curves. One of the six 2-rep-tiles in the plane (can be tiled by two copies of itself, of equal size). [13] 1.5850: 3-branches tree: Each branch carries 3 branches (here 90° and 60°). The fractal dimension of the entire tree is the fractal dimension of the terminal branches.
An example of experience curve effects: Swanson's law states that solar module prices have dropped about 20% for each doubling of installed capacity. [1] [2]In industry, models of the learning or experience curve effect express the relationship between experience producing a good and the efficiency of that production, specifically, efficiency gains that follow investment in the effort.
The effect of a subsidy is to shift the supply or demand curve to the right (i.e. increases the supply or demand) by the amount of the subsidy. If a consumer is receiving the subsidy, a lower price of a good resulting from the marginal subsidy on consumption increases demand, shifting the demand curve to the right.
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