When estimating the effect of changes in the money supply to changes in nominal GDP‚ it is common to assume that the velocity of money is constant. The velocity of money is a measure of average number of times per year that a dollar is exchanged. The quantity theory of money states that the money supply multiplied by the velocity of money is equal to the price level multiplied by output. ( ) Price level multiplied by output is the nominal output. Therefore‚ a percent change in the money
Premium Economics Inflation Money supply
Economies of scale are the cost advantages that a business can exploit by expanding their scale of production. The effect of economies of scale is to reduce the average (unit) costs of production. Economies of scale‚ in microeconomics‚ refers to the cost advantages that an enterprise obtains due to expansion. There are factors that cause a producer’s average cost per unit to fall as the scale of output is increased. "Economies of scale" is a long run concept and refers to reductions in unit cost
Premium Economics of production Microeconomics Costs
Diseconomies of scale A more precise definition is that long run average costs per unit rises with an increase in output.This can b shown in the diagram below: [pic] The rising part of the Long Run Average curve illustrates the effect of diseconomies of scale. Beyond Q1 (ideal firm size)‚ additional production will increase per unit costs. Diseconomies of scale are rarer than economies of scale and they are often offset by economies of scale that exist in the same business. This can make
Premium World Trade Organization Economics Economics of production
INCREASING STUDENTS’ SPEAKING ABILITY THROUGH BOARD GAME FOR THE EIGHTH GRADERS OF SMP CHAPTER I INTRODUCTION A. Background of the Study. Look at the developing science and technology‚ language has an important rule for human life‚ by using language the people will express their ideas‚ emotion‚ and desires‚ and it is used as a medium to interact with one another‚ to fulfil their daily need. English has been the most important language in international communication. The
Premium Learning English language Board game
same end product‚ are done on a much larger scale in industry. The aspects they may differ in are equipment‚ time taken‚ and many other things. In this report I will explain how and why laboratory and industrial scale differ using the example of preparation of aspirin. The first difference is that instead of weighing the 2-hydroxybenzoic acid on scales on a work bench in a beaker as you would in small scale‚ it is easier and safer to weigh it onto scales‚ in a plastic bag on the floor. This is easier
Premium Chemical reaction Chemistry Chemical substance
RATING SCALES INTRODUCTION Rating scales‚ as the name implies‚ are scales for rating each of the characteristics or activities one is seeking to observe or assess. A rating scale is a set of categories designed to elicit information about a quantitative or qualitative attribute. They enable an observer to systematically and objectively observe a person and record those observations. In the social sciences‚ a common example is the Likert scale in which a person is person selects the rating which
Premium Psychometrics Likert scale
extend their network. More information regarding the programme of the conference programme can be found in the Event Design Proposal. In addition to the Event Design Proposal‚ this report focuses on a method that can measure the Return on Investment (ROI) on this large-scale event. As ROI has become a pressing matter‚ especially in the event industry‚ this is offers a perfect opportunity to implement the ROI methodology. All staff members of iVents have been involved with the ROI institute and in the
Premium Management Business development Regional policy of the European Union
How successful can the management of fragile environments be‚ given the constant and increasing demand for their exploitation? A fragile environment is an area where the flora and fauna have adapted to a specific climate and evolved to occupy many different niches due to extremely high competition for resources. Furthermore due to the constant abiotic conditions‚ specialisation and symbiotic relationships have occurred to such a degree that even the slightest ecological or environmental disruption
Premium Amazon Rainforest Rainforest Brazil
Resiliency Scales for Children and Adolescents A critical review Katie Waghorn West Virginia University March 14‚ 2014 Author’s Note This paper was prepared for COUN 505 taught by Dr. Tina Walsh Introduction Resilience is a complex construct with many definitions. Most frequently‚ resilience can be defined as one’s ability to “bounce back” from an adverse situation. It is “interactive and contextual” (Prince-Embury & Saklofske‚ 2013‚ pg.19). However‚ some believe resiliency
Premium Reliability Psychological resilience Emotion
There are many limitations in decreasing domestic violence as well. Limitations include United States government restrictions‚ lack of funding‚ lack of activities and jobs‚ and lack of resources and services. There are restrictions that tribes face when it comes to protecting the people on the reservations. Often times‚ non-tribal members are the ones involved with committing domestic abuse. Tribal members do not have the jurisdiction to do anything about the crimes committed by a non-tribal member
Premium Education School Teacher