Economics

Capital deepening refers to an increase in the proportion of the capital stock to the number of labor hours worked. It is a situation where…

Unemployment occurs when there are people who are willing and able to work but don’t have a job. Classical unemployment occurs when real wages are…

Capital intensity is the infusion of high amounts of capital in a business or production process and therefore requires a higher proportion of fixed assets…

Bimetallism is a monetary system where the value of the money is based on two different metals. It is a system of allowing the unrestricted currency…

The Modified Accelerated Cost Recovery System (MACRS) is the existing framework approved in the United States (U.S.) for calculating tax deductions for depreciable assets (other…

The term Consumption of fixed capital (CFC) is used for the depreciation of Fixed Assets in business accounts, tax assessments, and national accounts. Fixed assets…

Frictional Unemployment is the unemployment that exists in any economy due to people being in the process of moving from one job to another. It…

Metallism is the economic principle that the value of money derives from the purchasing power of the commodity upon which it is based. Metallists believe…

Involuntary unemployment is a situation where workers are willing to work at the market wage or just below but are prevented by factors beyond their…

Full employment is the condition in which virtually all who are able and willing to work are employed. It is a situation in which there…

Gross fixed capital formation (GFCF) is a macroeconomic term, which is basically a net investment. It is an integral part of the GDP calculation expenditure…

The gold standard is a monetary system where a country’s currency or paper money has a value directly linked to gold. It is a monetary…