AP Macro Economics Chapter Seven Measuring Domestic Output
... Other things equal, the above information suggests that the production capacity in economy C is growing more rapidly than economy B. ...
... Other things equal, the above information suggests that the production capacity in economy C is growing more rapidly than economy B. ...
Eco120Int_Lecture1
... transaction refers to the record of receipts from the sale of goods and services to foreigners (exports), the payments for goods and services bought from foreigners (imports), and also property income (such as interest and profits) and current transfers (such as gifts) received from and paid to fore ...
... transaction refers to the record of receipts from the sale of goods and services to foreigners (exports), the payments for goods and services bought from foreigners (imports), and also property income (such as interest and profits) and current transfers (such as gifts) received from and paid to fore ...
Gross domestic product at basic prices, by census metropolitan area
... Among the 33 CMAs, Winnipeg was the most dominant in its province, accounting for an average of 65% of Manitoba's GDP from 2009 to 2013. Winnipeg's main industries were the government sector, trade and transportation as well as finance, insurance, rental, real estate and holding companies. Vancouver ...
... Among the 33 CMAs, Winnipeg was the most dominant in its province, accounting for an average of 65% of Manitoba's GDP from 2009 to 2013. Winnipeg's main industries were the government sector, trade and transportation as well as finance, insurance, rental, real estate and holding companies. Vancouver ...
Lecture Two: Macroeconomic Variables
... Final Goods and Services: intermediate goods are not counted. In addition to goods sold to consumers, two types of goods used in the production process are counted: capital goods (business plant and equipment) and inventory investment (net change in inventories of final goods awaiting sale or of mat ...
... Final Goods and Services: intermediate goods are not counted. In addition to goods sold to consumers, two types of goods used in the production process are counted: capital goods (business plant and equipment) and inventory investment (net change in inventories of final goods awaiting sale or of mat ...
Econ. 4431. Macroeconomic Policy Midterm exam (with answers
... effect on GDP will be larger or smaller than 10%. Briefly motivate your assessments. Answer If TFP increase 10% this would generate, on impact, roughly a 10% increase in GDP, as TFP increases the efficiency of every factor of production. But the increase in TFP would also increase returns to capital ...
... effect on GDP will be larger or smaller than 10%. Briefly motivate your assessments. Answer If TFP increase 10% this would generate, on impact, roughly a 10% increase in GDP, as TFP increases the efficiency of every factor of production. But the increase in TFP would also increase returns to capital ...
C+I
... Depreciation of dollar lowers cost of US goods to foreigners discouraging our exports ...
... Depreciation of dollar lowers cost of US goods to foreigners discouraging our exports ...
notes - "Education is the most powerful weapon which you can use
... economy are willing and able to supply at each price level in a given period of time. • Economists usually further define aggregate supply as either short-run or long-run. • The typical short-run aggregate supply curve (SRAS) is upward-sloping showing a direct relationship between price level and re ...
... economy are willing and able to supply at each price level in a given period of time. • Economists usually further define aggregate supply as either short-run or long-run. • The typical short-run aggregate supply curve (SRAS) is upward-sloping showing a direct relationship between price level and re ...
Unit 4 – GDP and Business Cycle
... United States European Union China Japan India Germany United Kingdom France Italy ...
... United States European Union China Japan India Germany United Kingdom France Italy ...
Due Date: Thursday, September 8th (at the beginning of class)
... Wow. Was Kennedy right? If so, should we just end this class right now? [Um, that was rhetorical] But why should we care about GDP? As Senator Robert Kennedy pointed out, GDP is an imperfect measure of economic performance or well-being. In addition to the left-out items that Kennedy cited, GDP also ...
... Wow. Was Kennedy right? If so, should we just end this class right now? [Um, that was rhetorical] But why should we care about GDP? As Senator Robert Kennedy pointed out, GDP is an imperfect measure of economic performance or well-being. In addition to the left-out items that Kennedy cited, GDP also ...
Chapter 20 PPT 2e - Bulldogbiology.com
... • Well-being The status of being healthy, happy, and prosperous. • Economics The study of how humans allocate scarce resources in the production, distribution, and consumption of goods and services. ...
... • Well-being The status of being healthy, happy, and prosperous. • Economics The study of how humans allocate scarce resources in the production, distribution, and consumption of goods and services. ...
HW1 - San Francisco State University
... b. Find the intercept and slope of the linear function in part a. 7. This question illustrates that when a variable grows at constant rate, then the graph of the ln of the variable is a linear function of time, with slope that is approximately equal to the growth rate of the original variable (when ...
... b. Find the intercept and slope of the linear function in part a. 7. This question illustrates that when a variable grows at constant rate, then the graph of the ln of the variable is a linear function of time, with slope that is approximately equal to the growth rate of the original variable (when ...
GDP
... of the economy √ The idea was created by Simon Kuznets (1901-1985) beginning in 1930 shortly after the beginning of the Great Depression. He received the Nobel Prize in Economics in 1971 for his effort. √ The tools of collection of the data were developed by the team led by Dr. Kuznets. √ The Bureau ...
... of the economy √ The idea was created by Simon Kuznets (1901-1985) beginning in 1930 shortly after the beginning of the Great Depression. He received the Nobel Prize in Economics in 1971 for his effort. √ The tools of collection of the data were developed by the team led by Dr. Kuznets. √ The Bureau ...
Measures of Macroeconomic Growth
... • gross domestic product: the dollar value of all final goods and services produced within a country’s borders in a given year • intermediate goods: products used in the production of final goods • nominal GDP: GDP measured in current prices • real GDP: GDP expressed in constant, or unchanging, pric ...
... • gross domestic product: the dollar value of all final goods and services produced within a country’s borders in a given year • intermediate goods: products used in the production of final goods • nominal GDP: GDP measured in current prices • real GDP: GDP expressed in constant, or unchanging, pric ...
Word
... when the gross capital formation increased by 3.2 %, investment (gross fixed capital formation) however decreased by 2.2 %. The source of growth of the gross capital formation was thus in Q4 2012 the increase of inventories in the domestic economy, which was most likely supported by the pre-stocking ...
... when the gross capital formation increased by 3.2 %, investment (gross fixed capital formation) however decreased by 2.2 %. The source of growth of the gross capital formation was thus in Q4 2012 the increase of inventories in the domestic economy, which was most likely supported by the pre-stocking ...
14.02 Principles of Macroeconomics Problem Set 1 *Solution*
... 5. Why are your answers in 2, 3 and 4 different/same? The answer to 2 differs from that of 3 and 4. (page 24-26) Nominal GDP is the sum of quantities of final goods produced times their current price. Therefore, nominal GDP increases over time for 2 reasons. (1) The production of goods increases ove ...
... 5. Why are your answers in 2, 3 and 4 different/same? The answer to 2 differs from that of 3 and 4. (page 24-26) Nominal GDP is the sum of quantities of final goods produced times their current price. Therefore, nominal GDP increases over time for 2 reasons. (1) The production of goods increases ove ...
Economics X Creativity Multimedia Case 8: Girls Get Married Case
... (a) If a country’s economic growth is highly dependent on its exports, its economic performance is likely to be affected by the business cycles of its trading partners. For instance, if foreign countries suffer from recession, the decrease in export demand may lead to an economic downturn in the dom ...
... (a) If a country’s economic growth is highly dependent on its exports, its economic performance is likely to be affected by the business cycles of its trading partners. For instance, if foreign countries suffer from recession, the decrease in export demand may lead to an economic downturn in the dom ...
Homework 1
... (d) Dost buys a million liras worth of paper produced in Turkey to be used in the production of books produced by Dost for its own brand name. (e) Dost produces two million liras worth of books under its own brand name by using the Turkish inputs it had bought and spending another million liras on l ...
... (d) Dost buys a million liras worth of paper produced in Turkey to be used in the production of books produced by Dost for its own brand name. (e) Dost produces two million liras worth of books under its own brand name by using the Turkish inputs it had bought and spending another million liras on l ...
Economics: Capital and GDP 3-4 on
... economy. Humans don’t create natural resources; we figure out ways to use them as raw materials and energy to make money! A person who has an idea and starts a business. Entrepreneurs usually start small, but they need to borrow capital if they want to expand their businesses. Banks lend capital to ...
... economy. Humans don’t create natural resources; we figure out ways to use them as raw materials and energy to make money! A person who has an idea and starts a business. Entrepreneurs usually start small, but they need to borrow capital if they want to expand their businesses. Banks lend capital to ...
Slide 1
... 7-6 Use the concepts of gross and net investment to distinguish between an economy that has a rising stock of capital and one that has a falling stock of capital. When gross investment exceeds depreciation, net investment is positive and production capacity expands; the economy ends the year with m ...
... 7-6 Use the concepts of gross and net investment to distinguish between an economy that has a rising stock of capital and one that has a falling stock of capital. When gross investment exceeds depreciation, net investment is positive and production capacity expands; the economy ends the year with m ...
Ch 2: C 1-8
... of the country is on average worse off. Also some increases in output come from events that reduce peoples’ welfare. For example, increased pollution may cause more lung cancer, and the treatment of the lung cancer will contribute to GDP. Similarly, an increase in crime may lead to overtime work for ...
... of the country is on average worse off. Also some increases in output come from events that reduce peoples’ welfare. For example, increased pollution may cause more lung cancer, and the treatment of the lung cancer will contribute to GDP. Similarly, an increase in crime may lead to overtime work for ...
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.