Presentation
... Nearly exclusive accounting methodology to calculate potential output, except for conventional seasonal adjustment and some implicit filter to “smooth” series (to be discussed later) The main benefit of this approach is transparency (absence of a “black box”) and simplicity to perform historical d ...
... Nearly exclusive accounting methodology to calculate potential output, except for conventional seasonal adjustment and some implicit filter to “smooth” series (to be discussed later) The main benefit of this approach is transparency (absence of a “black box”) and simplicity to perform historical d ...
The art of Chinese massage
... the belief that China's fiscal-stimulus package is boosting its economy and that GDP growth could come close to the government's target of 8% this year. Some economists, however, suspect that the figures overstate the economy's true growth rate and that Beijing would report 8% regardless of the trut ...
... the belief that China's fiscal-stimulus package is boosting its economy and that GDP growth could come close to the government's target of 8% this year. Some economists, however, suspect that the figures overstate the economy's true growth rate and that Beijing would report 8% regardless of the trut ...
GDP per Capita - McGraw Hill Higher Education
... • The U.S. labor force grew faster than the population during the 1990s. • The U.S. employment rate also increased during the 1990s. ...
... • The U.S. labor force grew faster than the population during the 1990s. • The U.S. employment rate also increased during the 1990s. ...
1. What Macroeconomists Study 2. The Data of Macroeconomics
... leisure will be excluded 2) Only final goods and services count in the GDP Æ intermediate goods will be excluded 3) Production within the geographic boundary of the U.S. ...
... leisure will be excluded 2) Only final goods and services count in the GDP Æ intermediate goods will be excluded 3) Production within the geographic boundary of the U.S. ...
Economics Part II
... As a country, we also want to become more productive The United States needs to produce more goods this year than it did last year If we do, there will be more jobs for our citizens, more profits for our companies ...
... As a country, we also want to become more productive The United States needs to produce more goods this year than it did last year If we do, there will be more jobs for our citizens, more profits for our companies ...
Chapter 2.1Notes
... What doesn’t count towards GDP? Only final goods are counted when you measure GDP Ex: Only a finished car is measured in GDP, everything that went into that car wasn’t counted – ex - the steel and fabric Intermediate goods would be counted twice (Steel and fabric) ...
... What doesn’t count towards GDP? Only final goods are counted when you measure GDP Ex: Only a finished car is measured in GDP, everything that went into that car wasn’t counted – ex - the steel and fabric Intermediate goods would be counted twice (Steel and fabric) ...
MECON Macroeconomic Analysis
... Question: would you like to have the medical technology of 2000 and the per capita income of 1900? Or per capita income of 1900 but the medical technology of 2000? Millions of Africans may die from AIDS and have lower life expectancy but the impact on GDP may not fully reflect this 3. GDP also ignor ...
... Question: would you like to have the medical technology of 2000 and the per capita income of 1900? Or per capita income of 1900 but the medical technology of 2000? Millions of Africans may die from AIDS and have lower life expectancy but the impact on GDP may not fully reflect this 3. GDP also ignor ...
Gross Domestic Product (GDP) Table 1 – GDP and
... Gross Domestic Product (GDP) Gross Domestic Product (GDP) is one of the most important macroeconomic indicators for economists and investors. GDP measures how fast or how slow the domestic economy is growing. In simple terms, GDP represents the total value of all goods and services that were produce ...
... Gross Domestic Product (GDP) Gross Domestic Product (GDP) is one of the most important macroeconomic indicators for economists and investors. GDP measures how fast or how slow the domestic economy is growing. In simple terms, GDP represents the total value of all goods and services that were produce ...
World development and interdependence
... available to people, and the way these goods and services are distributed within a population ...
... available to people, and the way these goods and services are distributed within a population ...
Macroeconomics 1 Problem set 1 Tick the correct alternatives (more
... • The jewelry manufacturer pays its workers £250,000 to make silver necklaces which she sells directly to consumers for £1,000,000. GDP can be measured from either the income or the output side (the latter looking either at the production of final goods or total value added). The three tables below ...
... • The jewelry manufacturer pays its workers £250,000 to make silver necklaces which she sells directly to consumers for £1,000,000. GDP can be measured from either the income or the output side (the latter looking either at the production of final goods or total value added). The three tables below ...
ARCHIVED - PDF, 14.46[ARCHIVED
... range of persons and groups in society. They are a means by which Canadians can view and assess the performance of the national economics. The accounts provide both a planning framework for governments and a report card on the results of the plans that governments carry out. At the core of the Incom ...
... range of persons and groups in society. They are a means by which Canadians can view and assess the performance of the national economics. The accounts provide both a planning framework for governments and a report card on the results of the plans that governments carry out. At the core of the Incom ...
Answers to Questions in Chapter 14
... Because of the increase in quantity and quality of complementary factors. Thus a hectare of land yields more agricultural output today than 100 years ago because of the increased mechanisation of agriculture and the increased amount of chemicals used. 336 (Box 14.4) Make out a case against using I ...
... Because of the increase in quantity and quality of complementary factors. Thus a hectare of land yields more agricultural output today than 100 years ago because of the increased mechanisation of agriculture and the increased amount of chemicals used. 336 (Box 14.4) Make out a case against using I ...
Ch_14_Measuring_The_Economys_Performance
... Contraction—Business activity slows down Recession—Any period of at least two quarters (6 months) during which real GDP does not grow. Trough—Where the downward direction of the economy levels off. Expansion or Recovery—The increase in total economic activity following a trough. ...
... Contraction—Business activity slows down Recession—Any period of at least two quarters (6 months) during which real GDP does not grow. Trough—Where the downward direction of the economy levels off. Expansion or Recovery—The increase in total economic activity following a trough. ...
SS7CG3: Compare how gender, education (literacy) and GDP (per
... the standard of living in Kenya, South Africa and Sudan. Essential question: How does a government’s stability (GDP) influence the lives of its ...
... the standard of living in Kenya, South Africa and Sudan. Essential question: How does a government’s stability (GDP) influence the lives of its ...
Macroeconomics Powerpoint
... • Purchasing Power: The real goods and services that money can buy; determines the value of money ...
... • Purchasing Power: The real goods and services that money can buy; determines the value of money ...
Gross Domestic Product
... Source: Department of Statistics of Ministry of Economic Development. Gross Domestic Product at Market Prices – represents the final result of the production activity of resident producer units for the reporting period. Methods: In Georgia GDP is calculated by following methods: The production appro ...
... Source: Department of Statistics of Ministry of Economic Development. Gross Domestic Product at Market Prices – represents the final result of the production activity of resident producer units for the reporting period. Methods: In Georgia GDP is calculated by following methods: The production appro ...
Economics: Principles in Action
... current prices; real GDP is expressed in constant, or unchanging, prices. Describe four limitations of using GDP to measure economic growth: 5. GDP does not measure nonmarket activities—goods and services that people make or do themselves. 6. It does not measure underground economy—production and in ...
... current prices; real GDP is expressed in constant, or unchanging, prices. Describe four limitations of using GDP to measure economic growth: 5. GDP does not measure nonmarket activities—goods and services that people make or do themselves. 6. It does not measure underground economy—production and in ...
The causes of the *development gap
... cable – the power to drive countries from primitive to more advanced states. • As the development cable model (right) shows, development is a multi-faceted process • At its core is economic development, but to achieve real progress social, political, environmental and personal development is also ne ...
... cable – the power to drive countries from primitive to more advanced states. • As the development cable model (right) shows, development is a multi-faceted process • At its core is economic development, but to achieve real progress social, political, environmental and personal development is also ne ...
File
... One way to understand business cycles is through demand and supply… • Aggregate demand- the total amount of G/S that households, businesses, government and foreign purchases will buy at each and every price level • Aggregate supply- the total amount of G/S that producers will provide at each and ev ...
... One way to understand business cycles is through demand and supply… • Aggregate demand- the total amount of G/S that households, businesses, government and foreign purchases will buy at each and every price level • Aggregate supply- the total amount of G/S that producers will provide at each and ev ...
Exercise 3
... 12 GDP is not a perfect measure of social welfare and the society’s economic well-being because A it does not include all economic activities in the economy B it does not say anything about the distribution of income. C GDP accounting rules do not adjust for production that causes negative externali ...
... 12 GDP is not a perfect measure of social welfare and the society’s economic well-being because A it does not include all economic activities in the economy B it does not say anything about the distribution of income. C GDP accounting rules do not adjust for production that causes negative externali ...
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.