by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Parity? In general, parity denotes a state of equality between two or more entities. The definition of parity has several implications. In economics, the term parity can be used to describe either of the following An equality in the prices of discrete...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is a Rational Self-interest?Rational Self-Interest is a behavioral assumption that economists make about how people act under different economic conditions. Acting in an economically rational way entails taking actions that reduce costs and increase benefits for...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is a Fragmented Market? a
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is a Fixed Exchange Rate?A fixed exchange rate system, also known as Fixed Exchange Rate System (FERS) or Pegged Exchange Rate (PER), is when the value of a currency is fixed to (the same as) the value of some other single currency (or group of currencies) or to...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is the Phillips Curve?A.W. Phillips developed the concept of the Phillips Curve, which says that there is a stable and inverse economic relation in inflation and unemployment. According to this theory, inflation comes with economic development that in turn causes...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is the Laffer Curve?The Laffer Curve is a graphical representation that illustrates the relationship between tax rates and the resulting tax revenue collected by the government. The curve suggests if the rates of taxation are increased above a certain point, the...
