Macroeconomics

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4 domain-specific abstractions whose origin domain is Macroeconomics.

• Full employment — A macroeconomic condition in which employment is as high as sustainably attainable, allowing frictional and structural unemployment but no material deficient-demand unemployment.
• Ifo Business Climate Index — Turn monthly German firms' assessments of their present situation and six-month expectations into weighted, seasonally adjusted balances and a rebased composite indicator intended to signal the direction and turning points of economic activity early.
• Paradox of toil — A zero-lower-bound macroeconomic result in which a collective increase in willingness to work lowers wages and expected inflation enough to raise real interest rates, reduce demand and decrease equilibrium employment.
• Principle of effective demand — In Keynesian macroeconomic theory, determine output and employment where entrepreneurs' aggregate proceeds expectations meet the aggregate supply price, allowing the resulting demand-constrained position to occur below full employment.