Econ 202 Midterm 1
... a. substitution of new goods for old goods in the purchases of consumers. b. substitution of quality for quantity in consumer purchases over time. c. fact that consumers substitute toward goods that have become relatively less expensive. d. substitution of new prices for old prices in the basket of ...
... a. substitution of new goods for old goods in the purchases of consumers. b. substitution of quality for quantity in consumer purchases over time. c. fact that consumers substitute toward goods that have become relatively less expensive. d. substitution of new prices for old prices in the basket of ...
- Department Of Economics
... across countries. PPP-adjusted GDP per capita is the per capita production/income that accounts for the cost of living so as to ‘standardize’ what is the real cost of consumption goods/services across countries. Because of the reasons listed above, it is a better-suited indicator for comparing wealt ...
... across countries. PPP-adjusted GDP per capita is the per capita production/income that accounts for the cost of living so as to ‘standardize’ what is the real cost of consumption goods/services across countries. Because of the reasons listed above, it is a better-suited indicator for comparing wealt ...
2 Economic growth in short-run and long-run
... Human development index (HDI) uses GDP as a part of its calculation and then factors in indicators of life expectancy and education levels. Genuine progress indicator (GPI) or Index of Sustainable Economic Welfare (ISEW) - The GPI and the ISEW attempt to address many of the above criticisms by takin ...
... Human development index (HDI) uses GDP as a part of its calculation and then factors in indicators of life expectancy and education levels. Genuine progress indicator (GPI) or Index of Sustainable Economic Welfare (ISEW) - The GPI and the ISEW attempt to address many of the above criticisms by takin ...
People oriented, with concern for people`s well
... II. New focal point of the statistical work of Shenzhen– concerning for people’s well-being Shenzhen municipal government: takes issues related to the direct benefits of the people as major work targets The statistical departments: 1. collect, organize and provide information on the basic condi ...
... II. New focal point of the statistical work of Shenzhen– concerning for people’s well-being Shenzhen municipal government: takes issues related to the direct benefits of the people as major work targets The statistical departments: 1. collect, organize and provide information on the basic condi ...
A further critique of growth economics
... experts is considered the hallmark of a mature science, so by prematurely declaring a consensus among “all competent economists”, and avoiding public debate on fundamental questions, economists preemptively lay claim to the status of a mature science. The advantage of a reputation as a “mature scien ...
... experts is considered the hallmark of a mature science, so by prematurely declaring a consensus among “all competent economists”, and avoiding public debate on fundamental questions, economists preemptively lay claim to the status of a mature science. The advantage of a reputation as a “mature scien ...
Homework #2
... adjustment (COLA). One example of a COLA is with Social Security. The COLA was instituted to keep benefits at a constant level of purchasing power over time. Also anytime you wanted to measure the effect of imports, you need to use the CPI because the GDP deflator does not include imports in its cal ...
... adjustment (COLA). One example of a COLA is with Social Security. The COLA was instituted to keep benefits at a constant level of purchasing power over time. Also anytime you wanted to measure the effect of imports, you need to use the CPI because the GDP deflator does not include imports in its cal ...
FRBSF E L
... seasonality. Therefore, the residual GDP seasonal variation appears to reflect the BEA’s granular, bottomup seasonal adjustment procedure. Indeed, we found that all of the major components of GDP— consumption, business investment, net exports, government spending, and inventory investment— displayed ...
... seasonality. Therefore, the residual GDP seasonal variation appears to reflect the BEA’s granular, bottomup seasonal adjustment procedure. Indeed, we found that all of the major components of GDP— consumption, business investment, net exports, government spending, and inventory investment— displayed ...
methodology for the high-frequency forecasting model for mexico
... methodology included two types of variables that were used in two types of equations. The two variables were: monthly indicators and quarterly components from the national accounts. The equations were: ARIMA’s associated with the extrapolation of the monthly indicators, and “bridge equations” to lin ...
... methodology included two types of variables that were used in two types of equations. The two variables were: monthly indicators and quarterly components from the national accounts. The equations were: ARIMA’s associated with the extrapolation of the monthly indicators, and “bridge equations” to lin ...
CHAPTER 2 Measuring the Performance of the Canadian Economy
... Students should be able to understand gross domestic product, and the concepts of measuring this from a demand or supply perspective. Students should understand allocation of income beyond the level of simply adding up GDP. In an economy total savings is composed of private savings plus the governme ...
... Students should be able to understand gross domestic product, and the concepts of measuring this from a demand or supply perspective. Students should understand allocation of income beyond the level of simply adding up GDP. In an economy total savings is composed of private savings plus the governme ...
STAGES-OCT2004
... This equation implies that the growth of government revenues/GDP ratio is good for most countries, excluding the richest ones and the most corrupt ones (if Ycap75us is higher than 100%, whereas CORRpos >7, the impact of the increase of government revenues/spending on growth becomes negative). It als ...
... This equation implies that the growth of government revenues/GDP ratio is good for most countries, excluding the richest ones and the most corrupt ones (if Ycap75us is higher than 100%, whereas CORRpos >7, the impact of the increase of government revenues/spending on growth becomes negative). It als ...
GDP
... Statistical discrepancy: a statistical discrepancy added to national income to equalize the income and expenditures approaches (calculated GDP by Income or expenditures approaches should yield same number of GDP) ...
... Statistical discrepancy: a statistical discrepancy added to national income to equalize the income and expenditures approaches (calculated GDP by Income or expenditures approaches should yield same number of GDP) ...
rebasing national accounts estimates
... Why the base year is needed?.................................................................................................................. 5 Why does GDP need to be rebased? ........................................................................................................ 5 What are the be ...
... Why the base year is needed?.................................................................................................................. 5 Why does GDP need to be rebased? ........................................................................................................ 5 What are the be ...
SB 13-48 What is GDP?
... used by governments, development agencies and international organisations to measure economic growth and development. Scotland Performs uses GDP measures in two of the framework’s seven purpose targets. GDP has a number of limitations as an indicator of economic development, well-being or welfare. M ...
... used by governments, development agencies and international organisations to measure economic growth and development. Scotland Performs uses GDP measures in two of the framework’s seven purpose targets. GDP has a number of limitations as an indicator of economic development, well-being or welfare. M ...
Aggregate Expenditure Model and the Multiplier
... disposable income rises by $1 • Calculated by consumer spending/ Disposable income. ...
... disposable income rises by $1 • Calculated by consumer spending/ Disposable income. ...
Figure 1 Adjusted net savings rates vs. GDP per capita
... A threshold or reference value should be established, against which conditions can be measured. ...
... A threshold or reference value should be established, against which conditions can be measured. ...
Chapter 4 Slides
... • In most years, the inflation rate has been positive. • During some periods (after World War II, and a few years in the 1970s and early 1980s), the U.S. experienced double-digit inflation. For the last two decades, however, the U.S. inflation rate has been very low - 1.70% in July ...
... • In most years, the inflation rate has been positive. • During some periods (after World War II, and a few years in the 1970s and early 1980s), the U.S. experienced double-digit inflation. For the last two decades, however, the U.S. inflation rate has been very low - 1.70% in July ...
Chapter 12 - Production, Income, and Employment
... • Only goods produced during that period are counted • GDP is actually measured for each quarter, and then reported as an annual rate for the quarter • Once fourth quarter figures are in, government also reports official GDP figure for entire year ...
... • Only goods produced during that period are counted • GDP is actually measured for each quarter, and then reported as an annual rate for the quarter • Once fourth quarter figures are in, government also reports official GDP figure for entire year ...
Globalisation and economic statistics – a „multifunctional” user`s
... – On-line access to several national statistics in user-friendly format – However: • several inconsistencies between – national and international databases; – within international databases – among international databases ...
... – On-line access to several national statistics in user-friendly format – However: • several inconsistencies between – national and international databases; – within international databases – among international databases ...
Output and Inflation
... economic “bads”? How do we account for the added quality and convenience of new products and technologies? ...
... economic “bads”? How do we account for the added quality and convenience of new products and technologies? ...
gdp_of_top_25_state_of_india
... hydroelectric resources and handicrafts. The state is also the first state in India to achieve the goal of having a bank account for every family. 21. Jammu & Kashmir ...
... hydroelectric resources and handicrafts. The state is also the first state in India to achieve the goal of having a bank account for every family. 21. Jammu & Kashmir ...
Factors Influencing Gross Domestic Product
... A the average of all the prices of goods and services produced in the economy. B the percent change in the price level of all goods and service produced in an economy in a given time period. C the total value of all final goods and services produced in an economy in a given time period adjusted for ...
... A the average of all the prices of goods and services produced in the economy. B the percent change in the price level of all goods and service produced in an economy in a given time period. C the total value of all final goods and services produced in an economy in a given time period adjusted for ...
Midterm Examination of Economics b1.Factor markets are different
... b. In the long run, a higher saving rate leads to a higher growth rate of income. c. Returns to capital become increasingly smaller as the amount of capital per worker increases. d. All of the above are correct. ...
... b. In the long run, a higher saving rate leads to a higher growth rate of income. c. Returns to capital become increasingly smaller as the amount of capital per worker increases. d. All of the above are correct. ...
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.