No Slide Title
... How do we measure a nation’s performance? Why do nations grow (Economic Growth)? ...
... How do we measure a nation’s performance? Why do nations grow (Economic Growth)? ...
Mankiw 5/e Chapter 2: The Data of Macroeconomics
... The CPI overstates the true increase in the cost of living by 1.1% per year. • Result: the BLS has refined the way it calculates the CPI to reduce the bias. • It is now believed that the CPI’s bias is ...
... The CPI overstates the true increase in the cost of living by 1.1% per year. • Result: the BLS has refined the way it calculates the CPI to reduce the bias. • It is now believed that the CPI’s bias is ...
The Data of Macroeconomics
... • What do the following macroeconomic variables represent? How are they measured? – Gross Domestic Product (GDP) – The Consumer Price Index (CPI) – The Unemployment Rate You’ve seen this before in Introductory Macroeconomics. So, I will try to be brief. ...
... • What do the following macroeconomic variables represent? How are they measured? – Gross Domestic Product (GDP) – The Consumer Price Index (CPI) – The Unemployment Rate You’ve seen this before in Introductory Macroeconomics. So, I will try to be brief. ...
Define and calculate GDP. Understand the difference
... Currently the prices of 1996 are used. Thus nominal GDP for this year is this year's output priced at this year's prices, and real GDP for this year is this year's output priced at 1996 prices. 1996 is known as the base year. Because real GDP is not affected by price changes (only 1996 prices are u ...
... Currently the prices of 1996 are used. Thus nominal GDP for this year is this year's output priced at this year's prices, and real GDP for this year is this year's output priced at 1996 prices. 1996 is known as the base year. Because real GDP is not affected by price changes (only 1996 prices are u ...
what can Govts do in a recession?
... GDP-inflation dilemma can be rephrased in terms of inflation and unemployment As GDP up, U temporarily down and inflation up As GDP down, U temporarily up and inflation down The negative relation between inflation and unemployment is the “Phillips curve” (PC) as with GDP and inflation, the i ...
... GDP-inflation dilemma can be rephrased in terms of inflation and unemployment As GDP up, U temporarily down and inflation up As GDP down, U temporarily up and inflation down The negative relation between inflation and unemployment is the “Phillips curve” (PC) as with GDP and inflation, the i ...
The Data of Macroeconomics
... • What do the following macroeconomic variables represent? How are they measured? – Gross Domestic Product (GDP) – The Consumer Price Index (CPI) – The Unemployment Rate You’ve seen this before in Introductory Macroeconomics. So, I will try to be brief. ...
... • What do the following macroeconomic variables represent? How are they measured? – Gross Domestic Product (GDP) – The Consumer Price Index (CPI) – The Unemployment Rate You’ve seen this before in Introductory Macroeconomics. So, I will try to be brief. ...
Chapter -2 - KFUPM Faculty List
... producer has already been included in C and I. We subtract Import to have a precise measure of the economic activity within the borders of USA. Second, Imported goods are final goods that were produced abroad. So, they should not be included in the GDP of USA. In our experimental economy, I=0, NX=0( ...
... producer has already been included in C and I. We subtract Import to have a precise measure of the economic activity within the borders of USA. Second, Imported goods are final goods that were produced abroad. So, they should not be included in the GDP of USA. In our experimental economy, I=0, NX=0( ...
Chapter -2 - KFUPM Faculty List
... producer has already been included in C and I. We subtract Import to have a precise measure of the economic activity within the borders of USA. Second, Imported goods are final goods that were produced abroad. So, they should not be included in the GDP of USA. In our experimental economy, I=0, NX=0 ...
... producer has already been included in C and I. We subtract Import to have a precise measure of the economic activity within the borders of USA. Second, Imported goods are final goods that were produced abroad. So, they should not be included in the GDP of USA. In our experimental economy, I=0, NX=0 ...
Solutions to Problems
... saving exhaust disposable income, 0.5 of each dollar increase in disposable income is consumed and the remaining part (0.5) is saved. 1b. ...
... saving exhaust disposable income, 0.5 of each dollar increase in disposable income is consumed and the remaining part (0.5) is saved. 1b. ...
Use of New Technique to Measure Wellbeing Index for
... to economic and social behaviour type. Measuring human well-being involves identifying the key components of a good life and then selecting a set of indicators that provide information about the progress of society with respect to these outcomes. Therefore, it is important to study the level of well ...
... to economic and social behaviour type. Measuring human well-being involves identifying the key components of a good life and then selecting a set of indicators that provide information about the progress of society with respect to these outcomes. Therefore, it is important to study the level of well ...
Macro Lecture 2: Gross Domestic Product
... the P’s can cause a rise in nominal GDP, nominal GDP itself cannot tell us what is happening to the Q’s, the production of goods and services. For this reason, we shall now introduce a new concept, real GDP, which can only rise when the Q’s increase. Consequently, when real GDP increase we can concl ...
... the P’s can cause a rise in nominal GDP, nominal GDP itself cannot tell us what is happening to the Q’s, the production of goods and services. For this reason, we shall now introduce a new concept, real GDP, which can only rise when the Q’s increase. Consequently, when real GDP increase we can concl ...
Report by the Stiglitz Commission on the Measurement of Economic
... our measurement system failed us and/or market participants and government officials were not focusing on the right set of statistical indicators. In their view, neither the private nor the public accounting systems were able to deliver an early warning, and did not alert us that the seemingly brigh ...
... our measurement system failed us and/or market participants and government officials were not focusing on the right set of statistical indicators. In their view, neither the private nor the public accounting systems were able to deliver an early warning, and did not alert us that the seemingly brigh ...
Comparative Policy and Performance in Mesa-Lago`s
... Carmelo, despite their quantitative nature, are not necessarily pointed in the right direction, because they all entail the value judgement that more of the indicator is always good or always bad and this may be true for some but not for all or even most of his indicators. Our discussion starts by i ...
... Carmelo, despite their quantitative nature, are not necessarily pointed in the right direction, because they all entail the value judgement that more of the indicator is always good or always bad and this may be true for some but not for all or even most of his indicators. Our discussion starts by i ...
Sample Responses Q2 - AP Central
... listed hypothetical countries (X, Y) was more economically developed. Students had two specific tasks: (a) to identify which country was more economically developed; and (b) and (c) to select two of the listed indicators and explain how each indicator could be used to support their answer in part (a ...
... listed hypothetical countries (X, Y) was more economically developed. Students had two specific tasks: (a) to identify which country was more economically developed; and (b) and (c) to select two of the listed indicators and explain how each indicator could be used to support their answer in part (a ...
No Slide Title
... Are they good measures of the level of human wellbeing (happiness) in a society? Only in a limited sense – material, market activity, with no consideration of things like pollution. Are they good measures of the change in the level of material wellbeing over time? Maybe, but care must be taken in ma ...
... Are they good measures of the level of human wellbeing (happiness) in a society? Only in a limited sense – material, market activity, with no consideration of things like pollution. Are they good measures of the change in the level of material wellbeing over time? Maybe, but care must be taken in ma ...
ECON112 (Spring 2011)
... (f) Suppose the government increases taxes and government expenditure by 100 at the same time. Solve for the new equilibrium. Y = 160 + 0.6 (Y – 100-100) + 150 +250 Y*** = 1100 Alternatively, Y = 100 [1/(1 – MPC) – C1 /(1– MPC)] = 100 Y*** = Y* + Y = 1100 ...
... (f) Suppose the government increases taxes and government expenditure by 100 at the same time. Solve for the new equilibrium. Y = 160 + 0.6 (Y – 100-100) + 150 +250 Y*** = 1100 Alternatively, Y = 100 [1/(1 – MPC) – C1 /(1– MPC)] = 100 Y*** = Y* + Y = 1100 ...
Maurice Kugler HDRO
... -GNI in current international $ -GDP in current international $ -GDP in constant 2005 international $ NB: GNI in constant international $ only available for a subset of countries • HDRO: -Estimates GNI in constant 2005 international $ by using GDP real/nominal factors -For 2005, GNI in constant 2005 ...
... -GNI in current international $ -GDP in current international $ -GDP in constant 2005 international $ NB: GNI in constant international $ only available for a subset of countries • HDRO: -Estimates GNI in constant 2005 international $ by using GDP real/nominal factors -For 2005, GNI in constant 2005 ...
GDP - IMF
... – Compute the elasticity with respect to real GDP in previous years; or – Use a regression model. ...
... – Compute the elasticity with respect to real GDP in previous years; or – Use a regression model. ...
here
... isn’t necessarily there. Because the government and consumers are spending money on goods that do not contribute to welfare, they don’t have as much money to spend on merit goods. Secondly, GDP under-reports the loss of natural resources. For example, if deforestation occurred to make room more more ...
... isn’t necessarily there. Because the government and consumers are spending money on goods that do not contribute to welfare, they don’t have as much money to spend on merit goods. Secondly, GDP under-reports the loss of natural resources. For example, if deforestation occurred to make room more more ...
Chapter 7
... Ideal in theory but nonexistent in practice since our knowledge of the economy as a whole is in fact very limited. ...
... Ideal in theory but nonexistent in practice since our knowledge of the economy as a whole is in fact very limited. ...
Measuring Economic Aggregates and the Circular Flow of Income
... How do we measure the economy’s performance? Francois Quesnay (1758) First to measure economic activity as a ...
... How do we measure the economy’s performance? Francois Quesnay (1758) First to measure economic activity as a ...
ETP Economics Midterm Examination
... a34.Ross thinks that if Acme Corporation has high revenues, then Zenith Corporation will have low revenues, and that if Acme Corporation has low revenues, Zenith Corporation will have high revenues. He buys stock in both corporations. a. He has reduced idiosyncratic risk but not aggregate risk. b. H ...
... a34.Ross thinks that if Acme Corporation has high revenues, then Zenith Corporation will have low revenues, and that if Acme Corporation has low revenues, Zenith Corporation will have high revenues. He buys stock in both corporations. a. He has reduced idiosyncratic risk but not aggregate risk. b. H ...
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.