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Fig. 137 Optimizing. The Phillips curve is drawn as P. The economic welfare of society is represented by a family of INDIFFERENCE CURVES IC1, IC2, IC3, IC4, each indicating successively higher levels of economic welfare as the origin, O, is approached. The optimum point is at the origin, because here full employment and complete price stability are theoretically simultaneously attained. However, the Phillips curve sets a limit to the combinations of U and I that can be achieved in practice. Given this constraint, the task of the authorities is to select that combination of U and I that maximizes society's economic welfare. This occurs at point X, where the Phillips curve is tangential to indifference curve IC3 .


the maximization of society's economic welfare in respect of the macroeconomic objectives of FULL EMPLOYMENT, PRICE STABILITY, ECONOMIC GROWTH and BALANCE-OF-PAYMENTS EQUILIBRIUM.

The essence of this approach can be illustrated, to simplify matters, by reference to the PHILLIPS CURVE‘trade-off between unemployment (U) and inflation (I). The Phillips curve in Fig. 137 shows that as unemployment falls, inflation increases and vice-versa. See MACROECONOMIC POLICY, FIXED TARGETS, INTERNAL-EXTERNAL BALANCE MODEL.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
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Additional information about the Optimizing Paper Machine Performance Course is available online at www.tappi.org/06pmp1 and through TAPPI's Member Connection Center, 1-800-332-8686 (US), 1-800-446-9431 (Canada), +1-770-446-1400, memberconnection@tappi.org.
NVC operates a continuous process flow, creating metrics on how a company can best manage its supply chain, and leading to best practices in optimizing a company's supply chain."
By implementing asynchronous I/O now, ISVs can take a big step in optimizing the performance of computers of all stripes--from notebook and desktop PCs to workstations and entry servers where NCQ disk drives and host hardware are becoming widely available.
While some manufacturers of injection presses focus on optimizing the thermal equilibrium of the heating platen, Rep has opted for standardizing the thermal mapping at the mold parting line where the mold cavities are located.
--Princeton Softech Active Archive Solutions: This solution manages database growth by optimizing performance and maximizing existing enterprise storage capacity.
Additionally, the "Auto Runner Mesh" function allows users to generate a solid-element-based runner system with one mouse click, while simultaneously optimizing the mesh density near the gate.
"In Search of a Cure: Optimizing Coldbox Core Systems," M.
Says Remondi, "They've looked at everything from how their cars respond when running in a pack, to how to get the greatest amount of downforce with the lowest amount of drag from the underbody." Formula One, where thousands of man-years can be spent optimizing a vehicle during the season, is another series taking an interest in PowerFLOW.
CAPE providers are their partners in optimizing their production process and, in turn, improving their overall business.
Chief executive officer, Matt Morgan, comments, “We help companies obtain sales ready leads by optimizing their online presence and opt-in paths.
If the whole purpose of backing up data is to support recovery, why do products in this space focus on optimizing backup operations instead of recovery operations?
By optimizing clothing selection at a cost of pennies per ton, you can substantially improve your paper machine productivity by dollars per ton," Landry added.

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