At efficiency in the Keynesian Cross, this equals the total output of an economy. An externality is beneficial if the social type of this is higher th
At efficiency in the Keynesian Cross, this equals the total output of an economy. An externality is beneficial if the social type of this is higher than the private type. A Giffen Good has an upward sloping curve that measures this, while Say's law states that this is created by the presence of a good. Price elasticity is computed by dividing change in price over change in this variable, which can be measured as an individual's marginal utility for consumption of a good. For 10 points, identify this measurement of desire for a good, often paired with supply.
At efficiency in the Keynesian Cross, this equals the total output of an economy.