Capital and Interest in a Growing Economy |
Common terms and phrases
absence of money aggregate assumed assumption balanced growth business cycle capital assets capital coefficient capital formation capital to labor capital widening Chapter chronic deficiency commodities market cyclical movements deficiency of demand demand for cash demand for money demand function dynamic efficiency of capital efficiency of investment elasticity equipment excess demand excess supply flexible monetary policy free labor supply full employment growing economy interest rates interest theory investment opportunities Keynes Keynesian Economics Keynesian theory labor force liquidity preference liquidity trap marginal efficiency MEI schedule ment monetary policy monetary theory money illusion money price level money supply neoclassical theory optimum capital intensity optimum ratio output Patinkin Pigou effect rate of capital rate of growth rate of interest rate of investment rate of return real value real wage rates saving function securities market short-run simply Stock and Flow stock of capital supply and demand theory of capital tion warranted rate