Saturday, 18 May 2024, 11:06 PM
Site: E-Learning KIMEP
Course: Intermediate Macroeconomics ECN3082 L, Mussurov Altay (ECN3082 L, Mussurov Altay )
Glossary: Course glossary
W
Wealth effectAs the avg. Pl rises, the purchasing power of wealth and savings begins to fall. High prices therefore tend to reduce the quantity of domestic output purchased. |
World priceThe global equilibrium price of a good when nations engage in trade. |