Levels Quotes by Paul Ormerod

Paul Ormerod

In most Western economies, the general relationship is not in fact between the rate of inflation and the level of unemployment, but between the rate of change of inflation and the rate of change of unemployment.

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Levels

Unemployment

Paul Ormerod

Keynes tried to show that market economies could settle in equilibrium states in which the labour market did not clear, and in which the level of unemployment was high. He believed that this was due to a particular example of market failure, developed in his concept of effective demand.

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Unemployment

Paul Ormerod

The behavior of the economy as a whole, at the aggregate, macro-level, is built up from the individual equations at the micro-level.

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Levels Quotes by Paul Ormerod

In most Western economies, the general relationship is not in fact between the rate of inflation and the level of unemployment, but between the rate of change of inflation and the rate of change of unemployment.

Keynes tried to show that market economies could settle in equilibrium states in which the labour market did not clear, and in which the level of unemployment was high. He believed that this was due to a particular example of market failure, developed in his concept of effective demand.

The behavior of the economy as a whole, at the aggregate, macro-level, is built up from the individual equations at the micro-level.

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Levels Quotes by

David Banner

Hubert H. Humphrey

Jim Henson

Charlie Hunnam

Keri Russell

Topics by Paul Ormerod

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