Selective observation refers to non-continuous observation. At the heart of this observation is the idea that a randomly selected part of the units can represent the entire population of the phenomenon under study according to the characteristics of interest. The purpose of sampling observation is to obtain information for determining the summary generalizing characteristics of […]
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IS-LM model and macroeconomic equilibrium
In the AD-AS model and the Keynesian Cross model, the market interest rate is an external (exogenous) variable and is set in the money market relatively independently of the equilibrium of the commodity market. The main purpose of analyzing the economy using the IS-LM model is to combine the commodity and money markets into a […]