Abstract
Many of the basic ideas in economics are expressed in the form ‘given X we shall observe ϒ’. In demand analysis, for example, X is price and ϒ is the quantity sold; in the theory of the consumption function X is aggregate personal disposable income and ϒ is expenditure on consumption. This is a simple form of theory and can be expressed as
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© 1970 A. A. Walters
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Walters, A.A. (1970). Equation Systems. In: An Introduction to Econometrics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-15277-3_8
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DOI: https://doi.org/10.1007/978-1-349-15277-3_8
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-333-02567-3
Online ISBN: 978-1-349-15277-3
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