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Equilibrium level |
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Equilibrium levelThe value taken on by an economic variable in equilibrium, as opposed either to some other value, or to its rate of change.Similar MatchesEquilibrium positionEquilibrium positionSame as equilibrium level, though perhaps of several variables at once, perhaps as displayed in a graph. Partial equilibriumPartial equilibriumEquality of supply and demand in only a subset of an economy's markets -- usually just one -- taking variables from other markets as given. Partial equilibrium models are appropriate for products that constitute only a negligibly small part of the economy. They are used routinely (not always appropriately) for analysis of trade policies in single industries. Contrasts with general equilibrium. Market equilibriumMarket equilibriumEquality of supply and demand. See equilibrium. Balance of payments equilibriumBalance of payments equilibriumMeaningful only under a pegged exchange rate, this referred to equality of credits and debits in the balance of payments using the traditional definition of the capital account. A surplus or deficit implied changing official reserves, so that something would ultimately have to change. One cone equilibriumOne cone equilibriumA free-trade equilibrium in the Heckscher-Ohlin Model in which prices are such that all goods can be produced within a single country, and there is only one diversification cone. This will arise if countries' factor endowments are sufficiently similar compared to factor intensities of industries. Contrasts with multi-cone equilibrium. Further SuggestionsGeneral equilibriumNash equilibrium Equilibrium Computable general equilibrium Equilibrium Disequilibrium Multi-cone equilibrium Equilibrium price Two cone equilibrium Equilibrium rate of interest Equilibrium exchange rate |
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