The classical (original) Neumann model is constructed under the following premises: An economy characterized by linear technology consists of industries, each of which has a finite number of production processes, i.e. several types of goods are produced, and joint activities of industries are allowed; production processes unfold in time, and the implementation of costs and […]
Tag: such
Inflation: essence, causes, types and consequences
The term inflation (from the Latin inflatio – swelling) was first used in North America during the Civil War (1861-1865) and denoted the process of swelling of the paper and money supply. Inflation is a multifactorial phenomenon that manifests itself in the overflow of the sphere of circulation with paper money in excess of the […]