V. INTRODUCTION TO MACROECONOMICS
... a. Nominal vs. real -- nominal statistics are measured in current dollars (in the current market prices), while real statistics are measured in constant dollars (adjusted so that the values have the same purchasing power in both time periods being compared). b. Levels vs. growth rates -- statistics ...
... a. Nominal vs. real -- nominal statistics are measured in current dollars (in the current market prices), while real statistics are measured in constant dollars (adjusted so that the values have the same purchasing power in both time periods being compared). b. Levels vs. growth rates -- statistics ...
Economics 2006-07
... 1. What did many people believe were secrets to economic growth prior to Adam Smith? B. Population and Economic Growth 1. How does population growth influence economic growth? 2. Define real GDP per capita 3. Real GDP is usually a measure of a nation’s standard of living, what does it not measure? 4 ...
... 1. What did many people believe were secrets to economic growth prior to Adam Smith? B. Population and Economic Growth 1. How does population growth influence economic growth? 2. Define real GDP per capita 3. Real GDP is usually a measure of a nation’s standard of living, what does it not measure? 4 ...
DOC
... quantities of all final goods. quantity times price of all final goods. quantity times price of all intermediate goods. prices of all goods produced within a given year. price plus quantities of all intermediate goods. ...
... quantities of all final goods. quantity times price of all final goods. quantity times price of all intermediate goods. prices of all goods produced within a given year. price plus quantities of all intermediate goods. ...
Economic Measurements Overview
... • Used to measure changes in the amount of goods and services produced in a nation. • Compares different years – Nominal GDP – measured in current prices. – Inflation must be considered (dollar value adjusted) – Real GDP – adjusted for inflation to get real increase or decrease in production • GDP 4 ...
... • Used to measure changes in the amount of goods and services produced in a nation. • Compares different years – Nominal GDP – measured in current prices. – Inflation must be considered (dollar value adjusted) – Real GDP – adjusted for inflation to get real increase or decrease in production • GDP 4 ...
Figure 3.4. Probability Distributions of One-Year-Ahead GDP
... Note: The figure displays conditional probability distributions of one-year-ahead real GDP growth for a panel of 43 countries based on quantile regressions. In particular, it includes unconditional historical distributions and two conditional distributions (of growth) based on two forecasting models ...
... Note: The figure displays conditional probability distributions of one-year-ahead real GDP growth for a panel of 43 countries based on quantile regressions. In particular, it includes unconditional historical distributions and two conditional distributions (of growth) based on two forecasting models ...
CHAPTER 3
... Define Gross Domestic Product and how it applies to our economic well-being Understand and define the 4 phases of the business cycle Define Inflation and Deflation ...
... Define Gross Domestic Product and how it applies to our economic well-being Understand and define the 4 phases of the business cycle Define Inflation and Deflation ...
The Business Cycle
... cheese, flour, pepperonis, and sauce it is made of We would include the dollar value of the Dresser Not the dollar value of the wood, hardware, and glue it is made of ...
... cheese, flour, pepperonis, and sauce it is made of We would include the dollar value of the Dresser Not the dollar value of the wood, hardware, and glue it is made of ...
Chapter 12.3 Notes
... -this process is the opposite of capital deepening…leads to lower living standards Government -government can affect the process of economic growth by raising or lowering taxes -government use of tax revenues also affects growth… funds spent on public goods increase investment, while funds spent on ...
... -this process is the opposite of capital deepening…leads to lower living standards Government -government can affect the process of economic growth by raising or lowering taxes -government use of tax revenues also affects growth… funds spent on public goods increase investment, while funds spent on ...
SEJARAH PEMIKIRAN EKONOMI Prof. Jamal
... – Economic growth – reflected by GDP (quantity) indicator – Economic development – qualitative aspects (e.g income per capita, quality of life indicators) ...
... – Economic growth – reflected by GDP (quantity) indicator – Economic development – qualitative aspects (e.g income per capita, quality of life indicators) ...
Y1 Real GDP - Personal homepages
... Rates of Economic Growth • Rate of economic growth is the percent change in economic activity from one year to the next. • Many people look at the GDP, but there are other measures out there too. • Are new products in fact a reflection of our economic progress? ...
... Rates of Economic Growth • Rate of economic growth is the percent change in economic activity from one year to the next. • Many people look at the GDP, but there are other measures out there too. • Are new products in fact a reflection of our economic progress? ...
here
... A. prosperity before the crash. C. post-War boom. B. depression. D. very high rate of inflation. 5. An economy that experiences decreasing real GDP and increasing prices is said to suffer from A. a recession. C. a business cycle. B. a depression. D. stagflation. 6. In a typical business cycle, what ...
... A. prosperity before the crash. C. post-War boom. B. depression. D. very high rate of inflation. 5. An economy that experiences decreasing real GDP and increasing prices is said to suffer from A. a recession. C. a business cycle. B. a depression. D. stagflation. 6. In a typical business cycle, what ...
Ch._10
... The tracking of production, income and consumption for a nation's economy Economists hope to be able to predict economic performance by studying the past and current performance ...
... The tracking of production, income and consumption for a nation's economy Economists hope to be able to predict economic performance by studying the past and current performance ...
Study Guide 12/13
... 20. How would aggregate supply be affected if people stopped spending? 21. How do fears of future economic problems affect GDP? 22. What is an example of depreciation? 23. What is an external shock? 24. What is the difference between recession and depression? 25. Why does increased saving lead to a ...
... 20. How would aggregate supply be affected if people stopped spending? 21. How do fears of future economic problems affect GDP? 22. What is an example of depreciation? 23. What is an external shock? 24. What is the difference between recession and depression? 25. Why does increased saving lead to a ...
Chapter 10
... nation’s borders over a specified period of time. In other words-this is an increase in a nation’s Real GDP. Since an increase in population would raise real GDP, economist look at Real GDP per capita: an increased in the real value of all final goods and services that are produced per person for a ...
... nation’s borders over a specified period of time. In other words-this is an increase in a nation’s Real GDP. Since an increase in population would raise real GDP, economist look at Real GDP per capita: an increased in the real value of all final goods and services that are produced per person for a ...
GDP Growth And Employment
... What is GDP? • Investopedia • The gross domestic product (GDP) is one the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period - you can think of it as the size of the economy. Usually ...
... What is GDP? • Investopedia • The gross domestic product (GDP) is one the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period - you can think of it as the size of the economy. Usually ...
Macroeconomic
... What are the three central macroeconomic concepts? How are the natural real GDP and the natural unemployment rates related to each other and to the rate of inflation? What are the main concerns of short-run versus long-run macro economic policy? What is meant by the real GDP gap? How does business c ...
... What are the three central macroeconomic concepts? How are the natural real GDP and the natural unemployment rates related to each other and to the rate of inflation? What are the main concerns of short-run versus long-run macro economic policy? What is meant by the real GDP gap? How does business c ...
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.