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Economic Calculations

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ライブラリ名概要
National IncomeNational income refers to the total income earned by the entire population. While gross domestic product (GDP) represents the total value added produced within a country, national income is calculated based on the income received by the population.
Nominal and real valuesNominal values are figures estimated based on actual market prices. Real values are figures adjusted to account for changes in the price level from a given year.
Economic growth rateThe economic growth rate refers to the rate at which the scale of economic activity in a given economy expands.
GDP deflatorThe GDP deflator is a price index used to adjust for inflation, and it measures the price level of the value added of all goods and services produced domestically (excluding the prices of imported raw materials).
Price elasticity of demandElasticity refers to the ratio of rates of change. Price elasticity of demand represents the rate of change in demand relative to the rate of change in price.
Comparative advantageThe theory of comparative advantage is a theory of foreign trade and international division of labor proposed by Ricardo. It posits that if a country compares the relative costs of producing various goods with those of other countries, exports the goods in which it has a comparative advantage, and imports the goods in which it has a comparative disadvantage, both parties will benefit and an international division of labor will take place.
The Theory of Money CreationMoney creation refers to the mechanism by which the money supply grows as banks repeatedly cycle through deposits and loans. Banks are required by law to maintain a certain percentage of their deposits as cash reserves at the Bank of Japan (or to keep it on hand).
Multiplier EffectThe multiplier effect refers to the phenomenon in which changes in factors such as investment or government spending ripple out and ultimately generate a change that is several times greater than the original.