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Total factor productivity is a measure of productive efficiency in that it measures how much output can be produced from a certain amount of inputs. It accounts for part of the differences in cross-country per-capita income. [ 2] For relatively small percentage changes, the rate of TFP growth can be estimated by subtracting growth rates of ...
Definition. Elasticity is the measure of the sensitivity of one variable to another. [ 10] A highly elastic variable will respond more dramatically to changes in the variable it is dependent on. The x-elasticity of y measures the fractional response of y to a fraction change in x, which can be written as.
Fixed-point arithmetic. In computing, fixed-point is a method of representing fractional (non-integer) numbers by storing a fixed number of digits of their fractional part. Dollar amounts, for example, are often stored with exactly two fractional digits, representing the cents (1/100 of dollar). More generally, the term may refer to ...
Capitalism. Business cycles are intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, government institutions, and private sector firms. There are numerous specific definitions of what ...
In probability theory, a log-normal (or lognormal) distribution is a continuous probability distribution of a random variable whose logarithm is normally distributed. Thus, if the random variable X is log-normally distributed, then Y = ln (X) has a normal distribution. [ 2][ 3] Equivalently, if Y has a normal distribution, then the exponential ...
Square (algebra) 5⋅5, or 52 (5 squared), can be shown graphically using a square. Each block represents one unit, 1⋅1, and the entire square represents 5⋅5, or the area of the square. In mathematics, a square is the result of multiplying a number by itself. The verb "to square" is used to denote this operation.
t. e. In economics, the Gini coefficient ( / ˈdʒiːni / JEE-nee ), also known as the Gini index or Gini ratio, is a measure of statistical dispersion intended to represent the income inequality, the wealth inequality, or the consumption inequality [ 3] within a nation or a social group. It was developed by Italian statistician and sociologist ...
12 ft. Metric ( SI) units. 25.4 mm. A fire hydrant marked as 3-inch. The inch (symbol: in or ″) is a unit of length in the British Imperial and the United States customary systems of measurement. It is equal to 1 36 yard or 1 12 of a foot. Derived from the Roman uncia ("twelfth"), the word inch is also sometimes used to ...