ECONOMICS - University of Maryland, College Park
... Things to note: • Although the growth rate of real GDP has fluctuated over time, it has been well above the 1 percent rate needed to maintain output per person, so real GDP per capita has risen over time. • For most of the period, the average growth rate was high enough to create the jobs needed by ...
... Things to note: • Although the growth rate of real GDP has fluctuated over time, it has been well above the 1 percent rate needed to maintain output per person, so real GDP per capita has risen over time. • For most of the period, the average growth rate was high enough to create the jobs needed by ...
Chapter 7
... Recession The period of a business cycle during which total production and total employment are decreasing. Economic growth The ability of an economy to produce increasing quantities of goods and services. Inflation rate The percentage increase in the price level from one year to the next. ...
... Recession The period of a business cycle during which total production and total employment are decreasing. Economic growth The ability of an economy to produce increasing quantities of goods and services. Inflation rate The percentage increase in the price level from one year to the next. ...
Analysis and Strategy Research on Regional Technological Innovation Capability Difference
... 7.96%, (higher than average level) 24.76%, (5.44% higher than average level) and 15.22% (slightly lower than average level). Nowadays, northeast region is in the period of transferring from traditional industry to modern one. In 2006, it contributes 8.5% to GDP, still keeping a downward trend, alth ...
... 7.96%, (higher than average level) 24.76%, (5.44% higher than average level) and 15.22% (slightly lower than average level). Nowadays, northeast region is in the period of transferring from traditional industry to modern one. In 2006, it contributes 8.5% to GDP, still keeping a downward trend, alth ...
Chapter 13: Economic Performance
... All three definitions have value to the United States Bureau of the Census. The definition of the household is especially useful because the demand for durable goods, such as stoves, water heaters, furnaces, and refrigerators, is more closely tied to the number of households than to the number of fa ...
... All three definitions have value to the United States Bureau of the Census. The definition of the household is especially useful because the demand for durable goods, such as stoves, water heaters, furnaces, and refrigerators, is more closely tied to the number of households than to the number of fa ...
Inflation
... – If the Fed imposes an extinguishing policy, the loss in output could be severe as GDP falls. – However, if the Fed pursues an accommodating or neutral policy the social costs of permanently higher inflation might be relatively small. ...
... – If the Fed imposes an extinguishing policy, the loss in output could be severe as GDP falls. – However, if the Fed pursues an accommodating or neutral policy the social costs of permanently higher inflation might be relatively small. ...
Diversification in the Kingdom of Saudi Arabia
... $139 billion and reserves minus gold were at $17.0 billion. The accumulated public debt of the Kingdom is estimated to constitute about 115% of its GDP in 1999. The KSA’s economy is heavily dependent on Oil with Oil revenues making up around 90-95% of total KSA export earnings and around 35-40% of t ...
... $139 billion and reserves minus gold were at $17.0 billion. The accumulated public debt of the Kingdom is estimated to constitute about 115% of its GDP in 1999. The KSA’s economy is heavily dependent on Oil with Oil revenues making up around 90-95% of total KSA export earnings and around 35-40% of t ...
Student_Chapter 17 Lecture Notes
... classical view of the world is broadly correct, but in addition to fluctuations that arise from the normal functioning of an expanding economy, fluctuations in the quantity of money also generate the business cycle. A slowdown in the growth rate of money brings recession and a large decrease in the ...
... classical view of the world is broadly correct, but in addition to fluctuations that arise from the normal functioning of an expanding economy, fluctuations in the quantity of money also generate the business cycle. A slowdown in the growth rate of money brings recession and a large decrease in the ...
UK BUSINESS CONFIDENCE MONITOR REPORT Q4 2009
... Transport sectors reporting stocks of raw materials below normal levels has stabilised. With inventory levels low following months of de-stocking, there will be a boost to overall economic activity as firms ...
... Transport sectors reporting stocks of raw materials below normal levels has stabilised. With inventory levels low following months of de-stocking, there will be a boost to overall economic activity as firms ...
Chapter 17 Lecture Notes
... classical view of the world is broadly correct, but in addition to fluctuations that arise from the normal functioning of an expanding economy, fluctuations in the quantity of money also generate the business cycle. A slowdown in the growth rate of money brings recession and a large decrease in the ...
... classical view of the world is broadly correct, but in addition to fluctuations that arise from the normal functioning of an expanding economy, fluctuations in the quantity of money also generate the business cycle. A slowdown in the growth rate of money brings recession and a large decrease in the ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... The Nigerian financial industry had been in existence since before the country got independence in 1960. There was the Banking Ordinance Act in 1952 which was the first law that allowed banks to operate in Nigeria. Many banks that had the require funds as capital base obtained a license to operate s ...
... The Nigerian financial industry had been in existence since before the country got independence in 1960. There was the Banking Ordinance Act in 1952 which was the first law that allowed banks to operate in Nigeria. Many banks that had the require funds as capital base obtained a license to operate s ...
Terms of Trade and Economic Growth -------Based on Co-integration Analysis
... of the industry center and the outer circle’s income increases by the growth ratio of the productivity, the prices of the primary commodity and finished product will be the same as the comparison that the price drops at the rate of production growth strictly. But the problem is that the prices of t ...
... of the industry center and the outer circle’s income increases by the growth ratio of the productivity, the prices of the primary commodity and finished product will be the same as the comparison that the price drops at the rate of production growth strictly. But the problem is that the prices of t ...
http://www.cato.org/pubs/journal/cj18n2/cj18n2-1.pdf
... Viewed from another angle, economic theory indicates that secure property rights, enforcement of contracts, and the operation of a court system to resolve disputes provide the foundation for the smooth operation of a market economy.5 These activities reflect the protective functions of government. A ...
... Viewed from another angle, economic theory indicates that secure property rights, enforcement of contracts, and the operation of a court system to resolve disputes provide the foundation for the smooth operation of a market economy.5 These activities reflect the protective functions of government. A ...
A Perspective on the Growth Process in India and China
... They got created as a consequence of colonial penetration into these economies, where, in addition to de-industrialization, the forcible introduction of a commodity economy in the context of an unpaid appropriation of economic surplus by the metropolis also played a crucial role. By contrast, today’ ...
... They got created as a consequence of colonial penetration into these economies, where, in addition to de-industrialization, the forcible introduction of a commodity economy in the context of an unpaid appropriation of economic surplus by the metropolis also played a crucial role. By contrast, today’ ...
Trade and Economic Growth
... The model includes period-specific intercepts (+ ), accounting for period-specific effects like changes in productivity affecting all countries, country-specific fixed-effects (, ) and an independent and identically distributed error term (- ). Estimating the above model, however, is plagued by some ...
... The model includes period-specific intercepts (+ ), accounting for period-specific effects like changes in productivity affecting all countries, country-specific fixed-effects (, ) and an independent and identically distributed error term (- ). Estimating the above model, however, is plagued by some ...
The Impact of the Financial Crisis on the Real Economy
... 2009), compared to increases of 4.4 percentage points over the same time period in the USA (from 5.8% to 10.2%) and over 8 percentage points in Spain (from 11.4% to 19.3%). What is the reason for these differences? German enterprises have invested greatly in the skills of their labour force and ther ...
... 2009), compared to increases of 4.4 percentage points over the same time period in the USA (from 5.8% to 10.2%) and over 8 percentage points in Spain (from 11.4% to 19.3%). What is the reason for these differences? German enterprises have invested greatly in the skills of their labour force and ther ...
The Impact of the Financial Crisis on the Real Economy
... 2009), compared to increases of 4.4 percentage points over the same time period in the USA (from 5.8% to 10.2%) and over 8 percentage points in Spain (from 11.4% to 19.3%). What is the reason for these differences? German enterprises have invested greatly in the skills of their labour force and ther ...
... 2009), compared to increases of 4.4 percentage points over the same time period in the USA (from 5.8% to 10.2%) and over 8 percentage points in Spain (from 11.4% to 19.3%). What is the reason for these differences? German enterprises have invested greatly in the skills of their labour force and ther ...
Chinese economic reform
The Chinese economic reform (simplified Chinese: 改革开放; traditional Chinese: 改革開放; pinyin: Gǎigé kāifàng; literally: ""Reform & Opening up"") refers to the program of economic reforms called ""Socialism with Chinese characteristics"" in the People's Republic of China (PRC) that was started in December 1978 by reformists within the Communist Party of China (CPC) led by Deng Xiaoping.China had one of the world's largest and most advanced economies prior to the nineteenth century. In the 18th century, Adam Smith claimed China had long been one of the richest, that is, one of the most fertile, best cultivated, most industrious, most prosperous and most urbanized countries in the world. The economy stagnated since the 16th century and even declined in absolute terms in the nineteenth and much of the twentieth century, with a brief recovery in the 1930s.Economic reforms introducing market principles began in 1978 and were carried out in two stages. The first stage, in the late 1970s and early 1980s, involved the decollectivization of agriculture, the opening up of the country to foreign investment, and permission for entrepreneurs to start businesses. However, most industry remained state-owned. The second stage of reform, in the late 1980s and 1990s, involved the privatization and contracting out of much state-owned industry and the lifting of price controls, protectionist policies, and regulations, although state monopolies in sectors such as banking and petroleum remained. The private sector grew remarkably, accounting for as much as 70 percent of China gross domestic product by 2005. From 1978 until 2013, unprecedented growth occurred, with the economy increasing by 9.5% a year. The conservative Hu-Wen Administration more heavily regulated and controlled the economy after 2005, reversing some reforms.The success of China's economic policies and the manner of their implementation has resulted in immense changes in Chinese society. Large-scale government planning programs alongside market characteristics have minimized poverty, while incomes and income inequality have increased, leading to a backlash led by the New Left. In the academic scene, scholars have debated the reason for the success of the Chinese ""dual-track"" economy, and have compared them to attempts to reform socialism in the East Bloc and the Soviet Union, and the growth of other developing economies.