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Best guesses about the future. Despite complex economic theories and cutting-edge econometrics, the forecasts economists make are often badly wrong. Indeed, following economic forecasts has been likened to driving a car blindfolded, following directions given ...
Best guesses about the future. Despite complex economic theories and cutting-edge econometrics, the forecasts economists make are often badly wrong. Indeed, following economic forecasts has been likened to driving a car blindfolded, following directions given ...
A controversial concept, often used by politicians to justify imposing a tax on profit that in theory is earned unexpectedly, through circumstances beyond the control of the company concerned, and is thus deemed undeserved and ripe for the taking by the tax ...
Un concepto polémico, a menudo utilizado por los políticos para justificar la imposición de un impuesto sobre el beneficio que en teoría es ganado inesperadamente, debido a circunstancias fuera del control de la empresa en cuestión y por lo tanto se considera ...
The dollar amount or unit amount of sales where total revenue equals total expenses
La cantidad en dólares o unidad cantidad de ventas donde los ingresos totales es igual a los gastos totales
A decision about an economic issue, most commonly about how to allocate resources among multiple purposes.
Una decisión sobre una cuestión económica, más comúnmente sobre cómo asignar los recursos entre múltiples propósitos.
A favorite example in game theory, which shows why co-operation is difficult to achieve even when it is mutually beneficial. Two prisoners have been arrested for the same offence and are held in different cells. Each has two options: confess, or say nothing. ...
Un ejemplo favorito en teoría de juegos, que demuestra por qué cooperación es difícil de lograr incluso cuando es mutuamente beneficiosa. Dos presos han sido detenidos por el mismo delito y se llevan a cabo en diferentes células. Cada uno tiene dos opciones: ...
A technological change that increases output for any given input.
Un cambio tecnológico que aumenta la salida para cualquier entrada dada.
Control of the market by a single company.
Control del mercado por una sola empresa.
An economic philosophy espoused by some leftish political leaders in the late 20th century, including Bill Clinton and Tony Blair. According to the rhetoric, it is not capitalism and not socialism, but a third (pragmatic) way. Many have therefore found it ...
Una filosofía económica propugnada por algunos dirigentes políticos izquierdistas a finales del siglo XX, entre ellos Bill Clinton y Tony Blair. Según la retórica, no es el capitalismo y socialismo no, pero una tercera vía (pragmática). Por lo tanto, muchos ...
Any property which has no outstanding claims or liens against it.
Cualquier propiedad que no tiene reclamos pendientes o embargos contra él.
A particular mathematical transformation often used to express economic variables. Advantages: 1) If a variable grows at a constant percentage rate over time, the graph of its logarithm is a straight line. 2) A small change in the logarithm of a variable is ...
Una transformación matemática particular utilizada a menudo para expresar las variables económicas. Ventajas: 1) si una variable crece a una tasa constante en el tiempo, la gráfica de su logaritmo es una línea recta. 2) un pequeño cambio en el logaritmo de ...