relative price effect
finance
Learn about this topic in these articles:
role in government spending
- In government budget: Budgetary planning: cash, volume, and cost terms
…to supply is the so-called relative price effect. This arises because goods and services bought by the public sector (labour, medical care, or defense equipment) may rise in price more quickly than commodities generally. Once this has been determined, volume can be expressed in cost terms. The relative price effect…
Read More