Sentences with phrase «basic economic theory»

In basic economic theory, the price of a commodity — in this case, the commodity is money — is determined by the interaction of supply and demand.

Let's reduce the confusion to basic economic theory which talks about supply and demand.

Basic economic theory says that for every new $ 1 dollar bill printed, there will eventually be a $ 1 increase in prices in the overall basket of goods.

Basic economic theory provides a useful perspective on multiple measures.

The «reality» is that technological advances and efficiencies are expected — in our economy and in basic economic theory — to bring prices down.

Let's reduce the confusion to basic economic theory which talks about supply and demand.

now, basic economic theory tells us that when there is more money, it's not worth as much, if the minimum wage is raised, there will indeed be more money, and it will indeed be worth a lot less, because prices will skyrocket.

Basic economic theory holds that competition improves markets.

«We don't think that PJM is making changes that are consistent with basic economic theory,» said Jennifer Chen at the Natural Resources Defense Council.

Fortunately, economic policy of governments and actual economic practice is not much influenced by the basic economic theory, so this reality - shy approach does relatively little harm in the non-academic world.

It seemed the basic economic theory was vindicated, and economics definitely became the «queen of the sciences.»

Basic economic theory, as far as I understand it, tells us «no.»

If they spend the additional money in their pockets, the economy will heat up, stoking inflation, according to basic economic theory.