Transitive

(adjective)

Having the property that if an element $x$ is related to $y$ and $y$ is related to $z$, then $x$ is necessarily related to $z$.

Related Terms

Examples of Transitive in the following topics:

  • Short Run Firm Production Decision

    • When a firm is transitioning from the short run to the long run it will consider the current and future equilibrium for supply and demand.
    • The transition involves analyzing the current state of the market as well as revenue and combining the results with long run market projections.

  • Impact of Public Policy on Unemployment

    • Frictional unemployment is the period between jobs in which an employee is searching for or transitioning from one job to another.
    • The government can provide facilities to increase availability and flexibility - for example, providing daycare may allow part-time or non-workers to transition into full-time jobs, and public transportation may widen the number of jobs available to somebody without a car.

  • Impacts of Surpluses and Shortages on Market Equilibrium

    • In this theoretical scenario the equilibrium point will transition towards a lower price point due to the increased supply, which will in turn motivate consumers to purchase a higher quantity as a result.
    • In a perfectly competitive market, a shortage in supply will ultimately result in a shift in the equilibrium point, transitioning towards a higher price point due to the limited supply availability.

  • Relationship Between Expectations and Inflation

    • Graphically, they will move seamlessly from point A to point C, without transitioning to point B.
    • According to adaptive expectations theory, policies designed to lower unemployment will move the economy from point A through point B, a transition period when unemployment is temporarily lowered at the cost of higher inflation.
    • The transition at point B does not exist as workers are able to anticipate increased inflation and adjust their wage demands accordingly.

  • Managing the Business Cycle

    • The economy moves through expansion and contraction on a routine basis; policy mechanisms allow for smoother transitions and soften landings.

  • What's Next?

    • Meanwhile, environmentally minded Al Gore, the vice president during President Clinton's two terms, buttressed EPA policies by pushing for reduced air pollution to curb global warming, a super-efficient car that would emit fewer air pollutants, and incentives for workers to use mass transit.

  • Types of Unemployment: Frictional, Structural, Cyclical

    • It is the time period between jobs when a worker is searching for or transitioning from one job to another.

  • Reasons for Unemployment

    • Frictional unemployment is the time period between jobs when a worker is searching for or transitioning from one job to another.

  • In the 1980s and 1990s

    • Congress sought to ease the transition by providing farmers $36,000 million in payments over seven years even though crop prices at the time were at high levels.

  • Properties of Indifference Curves

    • All curves projected on the indifference map must also be transitive to ensure that if $A$ is preferred to $B$ and $B$ is preferred to $C$, $C$ is not also preferred to $A$.