SHOCK THERAPY VERSUS GRADUALISM RECONSIDERED
... and the share of perverted trade flows), the worse is the performance • The higher was GDP per capita before transition, the greater were distortions embodied in fixed capital stock, the more difficult it was to overcome these distortions to achieve growth ...
... and the share of perverted trade flows), the worse is the performance • The higher was GDP per capita before transition, the greater were distortions embodied in fixed capital stock, the more difficult it was to overcome these distortions to achieve growth ...
Chain-weighting: The New Approach to Measuring GDP
... Unfortunately, such a step would just exacerbate the first problem—the switch in output between two similarly priced products that alters measured growth because of differing base-year prices. As the time period from the base year increases, so too will the likelihood of this problem cropping up. ...
... Unfortunately, such a step would just exacerbate the first problem—the switch in output between two similarly priced products that alters measured growth because of differing base-year prices. As the time period from the base year increases, so too will the likelihood of this problem cropping up. ...
Econ 203
... 28. Real GDP evaluates current production at current prices. (F). 29. Real GDP evaluates current production at the prices that prevailed in some specific year in the past. (T) 30. Glass currently produced and used by automobile factory as an automobile side-window should be counted in GDP. (F). 31. ...
... 28. Real GDP evaluates current production at current prices. (F). 29. Real GDP evaluates current production at the prices that prevailed in some specific year in the past. (T) 30. Glass currently produced and used by automobile factory as an automobile side-window should be counted in GDP. (F). 31. ...
Chapter 01: National Accounts at a Glance - ONS Visual
... As most of these incomes are subject to tax, the figures are usually obtained from data collected for tax purposes by HM Revenue & Customs. However, because there is some delay in providing good quality estimates by this method, other sources are used to provide initial estimates. Operating surplus ...
... As most of these incomes are subject to tax, the figures are usually obtained from data collected for tax purposes by HM Revenue & Customs. However, because there is some delay in providing good quality estimates by this method, other sources are used to provide initial estimates. Operating surplus ...
Mankiw 6e PowerPoints
... produces $10 million worth of final goods only sells $9 million worth Does this violate the expenditure = output identity? ...
... produces $10 million worth of final goods only sells $9 million worth Does this violate the expenditure = output identity? ...
Chapter 2: Economic Growth in the Twentieth
... in the production of goods and services (and therefore growth in the standard of living) in human experience. For the United States, the standard of living of the average person is now many times greater than it was a century ago. In this chapter, we will examine this experience is greater detail. F ...
... in the production of goods and services (and therefore growth in the standard of living) in human experience. For the United States, the standard of living of the average person is now many times greater than it was a century ago. In this chapter, we will examine this experience is greater detail. F ...
Lecture 2: Key Economic Variables and Concepts Gross Domestic
... question. Traditionally the government has used the first method, using a previous year's prices as a base year. Economists can show – though the proof is beyond this course – that this method overstates the true inflation rate, while the second method understates the inflation rate. Thus, we know f ...
... question. Traditionally the government has used the first method, using a previous year's prices as a base year. Economists can show – though the proof is beyond this course – that this method overstates the true inflation rate, while the second method understates the inflation rate. Thus, we know f ...
sample - Cyber Test Bank
... c. Is not a serious problem, since the rate of growth in GDP always exceeds the rate of population increase D. May be a problem since, as development begins, the higher rate of population growth impedes the growth of per capita income e. Is beneficial for economic development 53. The efficiency of r ...
... c. Is not a serious problem, since the rate of growth in GDP always exceeds the rate of population increase D. May be a problem since, as development begins, the higher rate of population growth impedes the growth of per capita income e. Is beneficial for economic development 53. The efficiency of r ...
Graduate School of Management - personal.kent.edu
... question. Traditionally the government has used the first method, using a previous year's prices as a base year. Economists can show – though the proof is beyond this course – that this method overstates the true inflation rate, while the second method understates the inflation rate. Thus, we know f ...
... question. Traditionally the government has used the first method, using a previous year's prices as a base year. Economists can show – though the proof is beyond this course – that this method overstates the true inflation rate, while the second method understates the inflation rate. Thus, we know f ...
Macro Vision
... Cide: Our scenario includes revenue of BRL 5.0 billion (0.1% of GDP) in 2015, through the reconstitution of the Cide fuel tax. We assume an increase in Cide to BRL 0.07/liter for both gasoline and diesel, to be announced by year-end 2014 or early 2015, and take effect in April 2015 (due to the 90-da ...
... Cide: Our scenario includes revenue of BRL 5.0 billion (0.1% of GDP) in 2015, through the reconstitution of the Cide fuel tax. We assume an increase in Cide to BRL 0.07/liter for both gasoline and diesel, to be announced by year-end 2014 or early 2015, and take effect in April 2015 (due to the 90-da ...
Ch.6 - MyWeb
... Limitations of the GDP Concept (1 of 2) GDP and Social Welfare • If crime levels went down, society would be better off, but a decrease in crime is not an increase in output and is not reflected in GDP. • An increase in leisure is also an increase in social welfare, sometimes associated with a decr ...
... Limitations of the GDP Concept (1 of 2) GDP and Social Welfare • If crime levels went down, society would be better off, but a decrease in crime is not an increase in output and is not reflected in GDP. • An increase in leisure is also an increase in social welfare, sometimes associated with a decr ...
Supplementary appendix
... March 3, 2014 In this online appendix we derive additional results discussed in the paper. In the first section, we include two extensions of the model with perfect competition of Section 3. First, we incorporate intermediate inputs into the production function. Second, we consider the case in which ...
... March 3, 2014 In this online appendix we derive additional results discussed in the paper. In the first section, we include two extensions of the model with perfect competition of Section 3. First, we incorporate intermediate inputs into the production function. Second, we consider the case in which ...
PP - Chapter 05
... same job, GDP would have been higher, even though the amount of output would have been identical. Why is this? Does this make sense? ...
... same job, GDP would have been higher, even though the amount of output would have been identical. Why is this? Does this make sense? ...
Principles of Economics, Case/Fair/Oster, Eleventh Edition
... Limitations of the GDP Concept (2 of 2) The Informal Economy • informal economy The part of the economy in which transactions take place and in which income is generated that is unreported and therefore not counted in GDP. Gross National Income per Capita • gross national income (GNI) GNP converted ...
... Limitations of the GDP Concept (2 of 2) The Informal Economy • informal economy The part of the economy in which transactions take place and in which income is generated that is unreported and therefore not counted in GDP. Gross National Income per Capita • gross national income (GNI) GNP converted ...
Introduction
... These supply both agricultural and manufacturing sectors with important inputs. Includes communications, transportation and logistics, and financial services ...
... These supply both agricultural and manufacturing sectors with important inputs. Includes communications, transportation and logistics, and financial services ...
STATISTICS SINGAPORE - Income Components of GDP: Trends
... provide early signals of an imminent economic slowdown. This was the case in 1985 and 1992. However, the impact of the financial turmoil on profits was not apparent in 1997, as profit share has so far remained relatively stable (Chart 3). This is consistent with the assessment that our domestic econ ...
... provide early signals of an imminent economic slowdown. This was the case in 1985 and 1992. However, the impact of the financial turmoil on profits was not apparent in 1997, as profit share has so far remained relatively stable (Chart 3). This is consistent with the assessment that our domestic econ ...
Checklist - City of Loveland
... General Development Plan (GDP) This application for a General Development Plan (GDP) shall only be used if the proposed development is to be constructed in phases. This application is used for the entire Planned Unit Development (PUD) area. The GDP is a plan that sets forth specific zoning requireme ...
... General Development Plan (GDP) This application for a General Development Plan (GDP) shall only be used if the proposed development is to be constructed in phases. This application is used for the entire Planned Unit Development (PUD) area. The GDP is a plan that sets forth specific zoning requireme ...
Basic Definitions and Accounting
... the two years using both base years and take the average of the two growth rates. They then assume that real GDP grew by the average of the two growth rates between the periods. Taking one of the two years as the base year (say, 1990), they compute real GDP in 1989 by solving for the level of real G ...
... the two years using both base years and take the average of the two growth rates. They then assume that real GDP grew by the average of the two growth rates between the periods. Taking one of the two years as the base year (say, 1990), they compute real GDP in 1989 by solving for the level of real G ...
Aggregate Supply and Aggregate Demand
... until the economy reaches its physical limit for output. In this case increases in aggregate demand result simply in increases in the price level. ...
... until the economy reaches its physical limit for output. In this case increases in aggregate demand result simply in increases in the price level. ...
Economics 304 Fall 2014 Country-Analysis Project Part 4: Economic
... gap relative to the U.S. (early-period U.S. numbers are in the Excel demonstration tables above, or can be obtained from the PWT online) and comparing its per-capita growth rate to the U.S. rate (0.92% from 1950 to 2011). Empirical evidence suggests that each 1% gap in initial GDP results in a growt ...
... gap relative to the U.S. (early-period U.S. numbers are in the Excel demonstration tables above, or can be obtained from the PWT online) and comparing its per-capita growth rate to the U.S. rate (0.92% from 1950 to 2011). Empirical evidence suggests that each 1% gap in initial GDP results in a growt ...
Tracking The Macroeconomy
... production—students may mistakenly believe that these three methods yield different values for GDP in a given period. Emphasize to students that this is not the case, because ultimately the value of all final goods and services produced must equal the value of income earned in the production of all ...
... production—students may mistakenly believe that these three methods yield different values for GDP in a given period. Emphasize to students that this is not the case, because ultimately the value of all final goods and services produced must equal the value of income earned in the production of all ...
Genuine progress indicator
Genuine progress indicator, or GPI, is a metric that has been suggested to replace, or supplement, gross domestic product (GDP) as a measure of economic growth. GPI is designed to take fuller account of the health of a nation's economy by incorporating environmental and social factors which are not measured by GDP. For instance, some models of GPI decrease in value when the poverty rate increases. The GPI is used in green economics, sustainability and more inclusive types of economics by factoring in environmental and carbon footprints that businesses produce or eliminate. ""Among the indicators factored into GPI are resource depletion, pollution, and long-term environmental damage."" GDP gains double the amount when pollution is created, since it increases once upon creation (as a side-effect of some valuable process) and again when the pollution is cleaned up, whereas GPI counts the initial pollution as a loss rather than a gain, generally equal to the amount it will cost to clean up later plus the cost of any negative impact the pollution will have in the mean time. While quantifying costs and benefits of these environmental and social externalities is a difficult task, ""Earthster-type databases could bring more precision and currency to GPI's metrics."" ""Another movement in economics that might embrace such data is the attempt to 'internalize externalities' - that is, to make companies bear the costs"" of the pollution they create (rather than having the government bear that cost) ""by taxing their goods proportionally to their negative eco-impacts.""GPI is an attempt to measure whether the environmental impact and social costs of economic production and consumption in a country is a negative or positive factor in overall health and well-being. By accounting for the costs borne by the society as a whole to repair or control pollution, poverty and prosperity GPI balances GDP spending against external costs. GPI advocates claim that it can more reliably measure economic progress, as it distinguishes between the overall ""shift in the 'value basis' of a product, adding its ecological impacts into the equation.""(Ch. 10.3)Comparatively speaking, the relationship between GDP and GPI is analogous to the relationship between the gross profit of a company and the net profit; the Net Profit is the Gross Profit minus the costs incurred; the GPI is the GDP (value of all goods and services produced) minus the environmental and social costs. Accordingly, the GPI will be zero if the financial costs of poverty and pollution equal the financial gains in production of goods and services, all other factors being constant.