Taylor Economics Chapter 28 Test Bank
... B. Because wages are flexible, they are unaffected by high rates of unemployment. C. A surge in aggregate demand ends up as a rise in output, but does not increase price levels. D. The economy cannot sustain production above its potential GDP in the long run. Answer: D Reference: Explanation: Type: ...
... B. Because wages are flexible, they are unaffected by high rates of unemployment. C. A surge in aggregate demand ends up as a rise in output, but does not increase price levels. D. The economy cannot sustain production above its potential GDP in the long run. Answer: D Reference: Explanation: Type: ...
Presidents and the Economy: A Forensic Investigation
... many useful comments. None of them, of course, bears any responsibility for the views expressed here. Replications files can be downloaded from http://www.princeton.edu/~mwatson. ...
... many useful comments. None of them, of course, bears any responsibility for the views expressed here. Replications files can be downloaded from http://www.princeton.edu/~mwatson. ...
"Presidents and the Economy"
... many useful comments. None of them, of course, bears any responsibility for the views expressed here. Replications files can be downloaded from http://www.princeton.edu/~mwatson. ...
... many useful comments. None of them, of course, bears any responsibility for the views expressed here. Replications files can be downloaded from http://www.princeton.edu/~mwatson. ...
Growth
... Economists define economic growth in terms of changes in potential GDP. • Measured as sustained increases in total output. • Reductions in inefficiencies increase output until producing at capacity. • Increase in AS leads to an expansion of ...
... Economists define economic growth in terms of changes in potential GDP. • Measured as sustained increases in total output. • Reductions in inefficiencies increase output until producing at capacity. • Increase in AS leads to an expansion of ...
Qatar Economic Outlook 2014–2015
... Box 1.1 Forecast methodology and assumptions The forecasts of the Qatar Economic Outlook are derived from an internally consistent numerical representation of Qatar’s economy, based on standard economic accounting relationships. The framework is based on a flow-of-funds model of the economy in whic ...
... Box 1.1 Forecast methodology and assumptions The forecasts of the Qatar Economic Outlook are derived from an internally consistent numerical representation of Qatar’s economy, based on standard economic accounting relationships. The framework is based on a flow-of-funds model of the economy in whic ...
PDF
... Although the share of labour in the Thai agriculture sector has been decreasing since 1960 because of the outflow of workers to non-agricultural sectors, the agricultural sector is still quantitatively important to the economy because nearly 40 percent of overall employment was still engaged in this ...
... Although the share of labour in the Thai agriculture sector has been decreasing since 1960 because of the outflow of workers to non-agricultural sectors, the agricultural sector is still quantitatively important to the economy because nearly 40 percent of overall employment was still engaged in this ...
National Economic Collapse and Revival, The Case of Zimbabwe
... country experienced a dramatic rise in hyperinflation through the years. The reasons, which ruined one of Africa’s most prosperous economies, were, among other things, fiscal indiscipline, civil unrest and an unstable political environment. This led to millions of Zimbabweans living the country to f ...
... country experienced a dramatic rise in hyperinflation through the years. The reasons, which ruined one of Africa’s most prosperous economies, were, among other things, fiscal indiscipline, civil unrest and an unstable political environment. This led to millions of Zimbabweans living the country to f ...
A Neokeynesian Balance of Payment Model. Study Case on
... Financial aids for economical and social restructuring; Easier access to European funds for R&D, restructuring economy and social life, etc. Also, we have disadvantages: an increasing breakdown process of Romanian’s small companies; unemployment increase; a rise of prices for energy, fuel ...
... Financial aids for economical and social restructuring; Easier access to European funds for R&D, restructuring economy and social life, etc. Also, we have disadvantages: an increasing breakdown process of Romanian’s small companies; unemployment increase; a rise of prices for energy, fuel ...
NBER WORKING PAPER SERIES REBALANCING GROWTH IN ASIA Eswar S. Prasad
... rebalancing effort that will be required to stabilize the world financial and economic systems. There is little doubt that global macroeconomic imbalances served as tinder for the global financial crisis, although there are sharply contrasting views about whether it was the proximate determinant. Th ...
... rebalancing effort that will be required to stabilize the world financial and economic systems. There is little doubt that global macroeconomic imbalances served as tinder for the global financial crisis, although there are sharply contrasting views about whether it was the proximate determinant. Th ...
State of the Economy and Prospects
... that attempt to decompose the slowdown into structural and cyclical components, have acknowledged the presence of both, though the assignment of proportions differs (Chinoy and Aziz [2013]; IMF, WEO [2014]; Mishra [2013], among others). The accentuation of structural constraints has been one of the ...
... that attempt to decompose the slowdown into structural and cyclical components, have acknowledged the presence of both, though the assignment of proportions differs (Chinoy and Aziz [2013]; IMF, WEO [2014]; Mishra [2013], among others). The accentuation of structural constraints has been one of the ...
Economic Forecasting in the Great Recession
... Previous studies have examined forecasts published in the Wall Street Journal, but these have primarily analyzed interest rate or exchange rate predictions. (See Cho, 1996; Kolb and Stekler, 1996; Greer, 1999 and 2003; Eisenbeis et al., 2002; Mitchell and Pearce, 2005). ...
... Previous studies have examined forecasts published in the Wall Street Journal, but these have primarily analyzed interest rate or exchange rate predictions. (See Cho, 1996; Kolb and Stekler, 1996; Greer, 1999 and 2003; Eisenbeis et al., 2002; Mitchell and Pearce, 2005). ...
NBER WORKING PAPER SERIES VOICE AND GROWTH: WAS CHURCHILL RIGHT?
... become a prescription often applied by international agencies monitoring the Second and Third Worlds.23 It is also the basis for repeated use of investor-service indicies of “country risk,” which measure corruption, confiscation, and default all over the world as indicators of property protection. ...
... become a prescription often applied by international agencies monitoring the Second and Third Worlds.23 It is also the basis for repeated use of investor-service indicies of “country risk,” which measure corruption, confiscation, and default all over the world as indicators of property protection. ...
International Effects of Government Expenditure in
... one hand, and issues pertaining to debt and tax-financingpolicies on the other. Of necessity, formal analyses of this type are restrictive,being requiredto invoke abstractionsthat enable them to focus on the specific issues at hand in the most lucid way. But in many cases the role of capital accumul ...
... one hand, and issues pertaining to debt and tax-financingpolicies on the other. Of necessity, formal analyses of this type are restrictive,being requiredto invoke abstractionsthat enable them to focus on the specific issues at hand in the most lucid way. But in many cases the role of capital accumul ...
Problem Session-2
... goods produced in a previous year. It would doublecount goods that were sold more than once and would count goods in GDP for several years if they were produced in one year and resold in another. ...
... goods produced in a previous year. It would doublecount goods that were sold more than once and would count goods in GDP for several years if they were produced in one year and resold in another. ...
NBER WORKING PAPER SERIES
... workers occur because either the union wage rate falls (relative to what it would otherwise have been) or there are employment displacements, which may be associated with unusually long unemployment spells and/or wage reductions on ...
... workers occur because either the union wage rate falls (relative to what it would otherwise have been) or there are employment displacements, which may be associated with unusually long unemployment spells and/or wage reductions on ...
Credit and Business Cycles
... For this purpose, I shall construct two dynamic models of the economy in which credit constraints arise because creditors cannot force debtors to repay debts unless the debts are secured by collateral. At each date, there are two groups of agents: productive agents and unproductive agents. Both have ...
... For this purpose, I shall construct two dynamic models of the economy in which credit constraints arise because creditors cannot force debtors to repay debts unless the debts are secured by collateral. At each date, there are two groups of agents: productive agents and unproductive agents. Both have ...
State of the Economy: An Overview
... negative territory for more than a year and the all-important consumer prices inflation has declined to nearly half of what it was a few years ago. However, weak growth in advanced and emerging economies has taken its toll on India’s exports. As imports have also declined, principally on account of ...
... negative territory for more than a year and the all-important consumer prices inflation has declined to nearly half of what it was a few years ago. However, weak growth in advanced and emerging economies has taken its toll on India’s exports. As imports have also declined, principally on account of ...
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... • Encouraging Multi-local Cooperation. It is unrealistic for national rural policy to have as an objective the widespread sub stitution of diversified rural economies to replace the specialized economies that now exist. Although some rural economies will be successfully transformed from their curren ...
... • Encouraging Multi-local Cooperation. It is unrealistic for national rural policy to have as an objective the widespread sub stitution of diversified rural economies to replace the specialized economies that now exist. Although some rural economies will be successfully transformed from their curren ...
Transformation in economics
Transformation in economics refers to a long-term change in dominant economic activity in terms of prevailing relative engagement or employment of able individuals.Human economic systems undergo a number of deviations and departures from the ""normal"" state, trend or development. Among them are Disturbance (short-term disruption, temporary disorder), Perturbation (persistent or repeated divergence, predicament, decline or crisis), Deformation (damage, regime change, loss of self-sustainability, distortion), Transformation (long-term change, restructuring, conversion, new “normal”) and Renewal (rebirth, transmutation, corso-ricorso, renaissance, new beginning).Transformation is a unidirectional and irreversible change in dominant human economic activity (economic sector). Such change is driven by slower or faster continuous improvement in sector productivity growth rate. Productivity growth itself is fueled by advances in technology, inflow of useful innovations, accumulated practical knowledge and experience, levels of education, viability of institutions, quality of decision making and organized human effort. Individual sector transformations are the outcomes of human socio-economic evolution.Human economic activity has so far undergone at least four fundamental transformations:From nomadic hunting and gathering (H/G) to localized agricultureFrom localized agriculture (A) to internationalized industryFrom international industry (I) to global servicesFrom global services (S) to public sector (including government, welfare and unemployment, GWU)This evolution naturally proceeds from securing necessary food, through producing useful things, to providing helpful services, both private and public (See H/G→A→I→S→GWU sequence in Fig. 1). Accelerating productivity growth rates speed up the transformations, from millennia, through centuries, to decades of the recent era. It is this acceleration which makes transformation relevant economic category of today, more fundamental in its impact than any recession, crisis or depression. The evolution of four forms of capital (Indicated in Fig. 1) accompanies all economic transformations.Transformation is quite different from accompanying cyclical recessions and crises, despite the similarity of manifested phenomena (unemployment, technology shifts, socio-political discontent, bankruptcies, etc.). However, the tools and interventions used to combat crisis are clearly ineffective for coping with non-cyclical transformations. The problem is whether we face a mere crisis or a fundamental transformation (globalization→relocalization).