Macroeconomics: Canada in the Global EnvironmentAddison-Wesley, 1994 - 1088 ˹éÒ |
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... rate , the larger is the quantity of labour hours demanded . In choosing how much labour to hire , firms aim to ... substitution of work for leisure ( the substitution effect ) and encourages the taking of more leisure ( the income ...
... rate , the larger is the quantity of labour hours demanded . In choosing how much labour to hire , firms aim to ... substitution of work for leisure ( the substitution effect ) and encourages the taking of more leisure ( the income ...
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... rate The percentage change in the price level . Inflationary gap Actual real GDP minus long - run real GDP when ... substitution effect The change in the quantity of real GDP demanded resulting from a change in the relative price of domestic ...
... rate The percentage change in the price level . Inflationary gap Actual real GDP minus long - run real GDP when ... substitution effect The change in the quantity of real GDP demanded resulting from a change in the relative price of domestic ...
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... Substitute , 75 Substitution See also Marginal rate of substitution international , 652 intertemporal , 652 Summers , Robert , 1027n , 1028n Supply , 78-82 , 79 aggregate . See Aggregate supply of capital . See Capital supply change in ...
... Substitute , 75 Substitution See also Marginal rate of substitution international , 652 intertemporal , 652 Summers , Robert , 1027n , 1028n Supply , 78-82 , 79 aggregate . See Aggregate supply of capital . See Capital supply change in ...
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