Yw

Yw hyn yn ddigon i gael dylanwad ar bleidlais Plaid Cymru?

Diwedd Y Byd Dyfrig 2008

Yw hyn yn ddigon i gael dylanwad ar bleidlais Plaid Cymru?

Archive 2008-02-01 Dyfrig 2008

It is more convenient, however, to work in terms of a slightly different function, namely, the function which relates the consumption in terms of wage-units (Cw) to the income in terms of wage-units (Yw) corresponding to a level of employment N.

The General Theory of Employment, Interest, and Money 2003

Yw increases and decreases in a greater proportion than real income; but in other contexts the fact that they always increase and decrease together renders them virtually interchangeable.

The General Theory of Employment, Interest, and Money 2003

This suffers from the objection that Yw is not a unique function of N, which is the same in all circumstances.

The General Theory of Employment, Interest, and Money 2003

Yw is income (both measured in wage-units) ΔCw has the same sign as ΔYw but is smaller in amount, i.e. dCw/dYw is positive and less than unity.

The General Theory of Employment, Interest, and Money 2003

Yw a given level of income in terms of wage-units, and Cw the expenditure on consumption out of that level of income, so that

The General Theory of Employment, Interest, and Money 2003

Since, therefore, real income, in terms of product, may be incapable of precise numerical measurement, it is often convenient to regard income in terms of wage-units (Yw) as an adequate working index of changes in real income.

The General Theory of Employment, Interest, and Money 2003

Yw and N may depend (though probably in a very minor degree) on the precise nature of the employment.

The General Theory of Employment, Interest, and Money 2003

But in general it is a good approximation to regard Yw as uniquely determined by

The General Theory of Employment, Interest, and Money 2003