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... – in fact 10% down, back to 2002 levels • Non-traded goods sector, especially government, grew rapidly • Gave rise to 8% CADs • Not a savings issue ...
... – in fact 10% down, back to 2002 levels • Non-traded goods sector, especially government, grew rapidly • Gave rise to 8% CADs • Not a savings issue ...
Lecture 1: Introduction
... • Microeconomics is concerned with individual agents and markets • Macroeconomics is concerned with the aggregate implications of microeconomics ...
... • Microeconomics is concerned with individual agents and markets • Macroeconomics is concerned with the aggregate implications of microeconomics ...
Comparative Economic Systems
... today, expected to live? Total Fertility Rate- How many children does each woman have, on average? Literacy Rate- What percentage of people over the age of 15 can read and write? Government Government Type- How are leaders elected? Government Spending as Percent of GDP (Budget Expenditures divided b ...
... today, expected to live? Total Fertility Rate- How many children does each woman have, on average? Literacy Rate- What percentage of people over the age of 15 can read and write? Government Government Type- How are leaders elected? Government Spending as Percent of GDP (Budget Expenditures divided b ...
ECON 161 Professor Lowenberg Office: JH 4238 Phone: 818
... Real GDP (measures output and income) Employment Growth of per capita real GDP ...
... Real GDP (measures output and income) Employment Growth of per capita real GDP ...
Production and Growth
... output produced from an additional unit of capital falls; this property is called diminishing returns. Because of diminishing returns, an increase in the saving rate leads to higher growth only for a while. In the long run, the higher saving rate leads to a higher level of productivity and incom ...
... output produced from an additional unit of capital falls; this property is called diminishing returns. Because of diminishing returns, an increase in the saving rate leads to higher growth only for a while. In the long run, the higher saving rate leads to a higher level of productivity and incom ...
Last class
... Implication of the above formula: Any growth not accounted for by growth in capital is allocated to technological change, so this category is a broad catchall concept. ...
... Implication of the above formula: Any growth not accounted for by growth in capital is allocated to technological change, so this category is a broad catchall concept. ...
Lecture 26 - Cornell University
... Sources: Historical Statistics of the United States: Colonial Times to 1970, Tables F47-70, F98-124; U.S. Department of Commerce, Bureau of Economic Analysis. ...
... Sources: Historical Statistics of the United States: Colonial Times to 1970, Tables F47-70, F98-124; U.S. Department of Commerce, Bureau of Economic Analysis. ...
Real GDP and per head
... • Nominal GDP (also known as money GDP or GDP at current prices) represent GDP that has not been adjusted for inflation • Real GDP calculating GDP at constant prices by using a price index ...
... • Nominal GDP (also known as money GDP or GDP at current prices) represent GDP that has not been adjusted for inflation • Real GDP calculating GDP at constant prices by using a price index ...
Underdevelopment: A Vicious Cycle
... process became self-sustaining. As it had in industrialized countries, this process was expected to bring more jobs and educational opportunities for the poor in the subsistence sector. Yet steady growth has not occurred in most of the developing world. On the whole, countries with low per capita GN ...
... process became self-sustaining. As it had in industrialized countries, this process was expected to bring more jobs and educational opportunities for the poor in the subsistence sector. Yet steady growth has not occurred in most of the developing world. On the whole, countries with low per capita GN ...
Suriname_en.pdf
... The Surinamese economy posted growth of 2.9% in 2013, the first time since the global crisis that it had been below 3%. The projections for 2014 and 2015 are of 3.5% and 3.6%, respectively. In light of the decline in commodity prices and the economy’s high dependence on commodity exports, a return t ...
... The Surinamese economy posted growth of 2.9% in 2013, the first time since the global crisis that it had been below 3%. The projections for 2014 and 2015 are of 3.5% and 3.6%, respectively. In light of the decline in commodity prices and the economy’s high dependence on commodity exports, a return t ...
Economic Growth Parts I & II
... Today we will discuss the main sources of long-term economic or real GDP growth and the policies that governments might use to increase economic growth. There is a difference in the short-term fluctuations in real GDP that result from the business cycle and the longrun growth in real GDP. ...
... Today we will discuss the main sources of long-term economic or real GDP growth and the policies that governments might use to increase economic growth. There is a difference in the short-term fluctuations in real GDP that result from the business cycle and the longrun growth in real GDP. ...
Lecture 1 - UTA Economics
... K = capital resources (including land and entrepreneurship) L = labor resources and where Q increases when A, K, or L increases. Describe what will happen to output if: 1. the capital-to-labor ratio rises 2. the quality of the labor force improves 3. technology improves Modern Growth Theory Many inn ...
... K = capital resources (including land and entrepreneurship) L = labor resources and where Q increases when A, K, or L increases. Describe what will happen to output if: 1. the capital-to-labor ratio rises 2. the quality of the labor force improves 3. technology improves Modern Growth Theory Many inn ...
Slides 1
... (slight divergence, if at all, across countries in recent years; Great Divergence in the longer run) No particular flows to poor countries. ...
... (slight divergence, if at all, across countries in recent years; Great Divergence in the longer run) No particular flows to poor countries. ...
here - Cornell University
... Aid to state government Aid to already-in-the-pipeline projects Try to promote long run growth where possible ...
... Aid to state government Aid to already-in-the-pipeline projects Try to promote long run growth where possible ...
Cuba_en.pdf
... bureaucracy and make it more efficient, avoid duplication and reduce the number of State institutions. Furthermore, a new agency, the Comptroller General of the Republic, was created to oversee the proper functioning of all of Cuba’s political, administrative and economic institutions. Subsidies and ...
... bureaucracy and make it more efficient, avoid duplication and reduce the number of State institutions. Furthermore, a new agency, the Comptroller General of the Republic, was created to oversee the proper functioning of all of Cuba’s political, administrative and economic institutions. Subsidies and ...
Structural transformation and the evolution to higher
... • Manufacturing had embodied services that have been been outsourced (e.g. custodial or restaurant services) • Thus, in causal terms, manufacturing creates services initially … but the causality is dual • Many services are local – a point to which we return • And many services are tradeable, thus no ...
... • Manufacturing had embodied services that have been been outsourced (e.g. custodial or restaurant services) • Thus, in causal terms, manufacturing creates services initially … but the causality is dual • Many services are local – a point to which we return • And many services are tradeable, thus no ...
File
... Adam Smith claimed that growth was related to the division of labor Thomas Malthus developed a formal model of a dynamic growth process in which each country converged toward a stationary per capita income. Means, death rates fall and fertility rises when incomes exceed the equilibrium level, ...
... Adam Smith claimed that growth was related to the division of labor Thomas Malthus developed a formal model of a dynamic growth process in which each country converged toward a stationary per capita income. Means, death rates fall and fertility rises when incomes exceed the equilibrium level, ...
Growth Strategies for Africa in a Changing Global Environment
... Growth Strategies for Africa in a Changing ...
... Growth Strategies for Africa in a Changing ...
The postwar project: Economic development in practice
... Key addition: Capital subject to diminishing returns Long run growth via increase in productivity of labor—not capital accumulation Difference between capital intensity (K/L) and technology (output per worker hour) Solow (1956, 1957) calculated that the “residual” accounted for four-fifths o ...
... Key addition: Capital subject to diminishing returns Long run growth via increase in productivity of labor—not capital accumulation Difference between capital intensity (K/L) and technology (output per worker hour) Solow (1956, 1957) calculated that the “residual” accounted for four-fifths o ...
Classical Theory of development
... limited resources will eventually bring economic growth to an end. ...
... limited resources will eventually bring economic growth to an end. ...
Factors that Lead to Economic Growth
... within the country--this doesn’t include products that are imported. ...
... within the country--this doesn’t include products that are imported. ...
Economic Growth
... • Although the level of real output may be increasing each year, that level will very probably be within the economy’s full employment potential level of output. • We must make a distinction between actual GDP growth and potential GDP growth. ...
... • Although the level of real output may be increasing each year, that level will very probably be within the economy’s full employment potential level of output. • We must make a distinction between actual GDP growth and potential GDP growth. ...
Economic growth
Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Of more importance is the growth of the ratio of GDP to population (GDP per capita, which is also called per capita income). An increase in growth caused by more efficient use of inputs (such as physical capital, population, or territory) is referred to as intensive growth. GDP growth caused only by increases in the amount of inputs available for use is called extensive growth.In economics, ""economic growth"" or ""economic growth theory"" typically refers to growth of potential output, i.e., production at ""full employment"". As an area of study, economic growth is generally distinguished from development economics. The former is primarily the study of how countries can advance their economies. The latter is the study of the economic development process particularly in low-income countries.Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure.