Ch 17-ECONOMIC GROWTH
... Improved standard of living based on labor productivity 1-microchip technology 2-new firms & increasing profits Reasons for increasing returns(profits) A-more specialized inputs B-increased consumption C-spread R & D costs over large output Keep MC low D-networking make info goods more val ...
... Improved standard of living based on labor productivity 1-microchip technology 2-new firms & increasing profits Reasons for increasing returns(profits) A-more specialized inputs B-increased consumption C-spread R & D costs over large output Keep MC low D-networking make info goods more val ...
zero-growth proposal
... quickly than average, but rich countries will grow more slowly than average. i.e. poor countries should ‘catch up’ but social and political differences may enable some economies to catch up more effectively than others. ...
... quickly than average, but rich countries will grow more slowly than average. i.e. poor countries should ‘catch up’ but social and political differences may enable some economies to catch up more effectively than others. ...
According to the majority of analysts, Estonia`s current potential
... According to the majority of analysts, Estonia’s current potential annual economic growth is 5–6%. Despite weak external demand, GDP increased by 5.8% in 2002. Both domestic demand and higher private sector borrowing activity sustained the growth. Together with single large investments (in Estonian ...
... According to the majority of analysts, Estonia’s current potential annual economic growth is 5–6%. Despite weak external demand, GDP increased by 5.8% in 2002. Both domestic demand and higher private sector borrowing activity sustained the growth. Together with single large investments (in Estonian ...
The end of normal: the great crisis and the future of growth
... of full employment, inflation is nowhere in sight, the government’s deficit is lower (as a percent of GDP) than it has been for years, and economic growth currently exceeds our long-run average. Looking both in the rear view mirror and out the front windshield, Galbraith (Univ. of Texas at Austin), ...
... of full employment, inflation is nowhere in sight, the government’s deficit is lower (as a percent of GDP) than it has been for years, and economic growth currently exceeds our long-run average. Looking both in the rear view mirror and out the front windshield, Galbraith (Univ. of Texas at Austin), ...
KEY Macro Questions Lesson 07
... What are the implications for the long-run development of a society that is unable to reduce its population growth rate bellows, say, 4% per year? Because it is unlikely that rates of economic growth above 4-percent are sustainable in the long run, a country that is unable to reduce its population g ...
... What are the implications for the long-run development of a society that is unable to reduce its population growth rate bellows, say, 4% per year? Because it is unlikely that rates of economic growth above 4-percent are sustainable in the long run, a country that is unable to reduce its population g ...
by Sylvia Nasar
... d. the quantity of capital per hour worked b. the interest rate e. the average level of education c. technology f. the price level 6. Significant economic growth did not begin in the world until a. 1000 A.D. b. 1750 A.D. c. 1820 A.D. d. the 20th century A.D. 7. Which of the following would contribut ...
... d. the quantity of capital per hour worked b. the interest rate e. the average level of education c. technology f. the price level 6. Significant economic growth did not begin in the world until a. 1000 A.D. b. 1750 A.D. c. 1820 A.D. d. the 20th century A.D. 7. Which of the following would contribut ...
A Causal Analysis of the Relationship between Democratization and Economic Growth
... A Causal Analysis of the Relationship between Democratization and Economic Growth Abstract The long run relationship between democratization and economic growth has been previously considered by a number of researchers, and yet no clear consensus has emerged concerning the causal relationship betwee ...
... A Causal Analysis of the Relationship between Democratization and Economic Growth Abstract The long run relationship between democratization and economic growth has been previously considered by a number of researchers, and yet no clear consensus has emerged concerning the causal relationship betwee ...
Week 6 In Class Productivity and Growth
... a. slower than relatively rich countries; this is called the poverty trap. b. slower than relatively rich countries; this is called the fall-behind effect. c. faster than relatively rich countries; this is called the catch-up effect. d. faster than relatively rich countries; this is called the const ...
... a. slower than relatively rich countries; this is called the poverty trap. b. slower than relatively rich countries; this is called the fall-behind effect. c. faster than relatively rich countries; this is called the catch-up effect. d. faster than relatively rich countries; this is called the const ...
Agenda
... -decrease of taxes increases C Keynesian view subscribe to Fiscal Policies i.e.: Great Depression ...
... -decrease of taxes increases C Keynesian view subscribe to Fiscal Policies i.e.: Great Depression ...
Chapter 10: Economic Performance
... Explain the four sectors of the product market used to make up the GDP (Output-Expenditure Model): A. Personal Consumption Expenditures B. Gross Investment C. Government Purchases D. Net Exports What is the difference between the Nominal GDP and the Real GDP. How do economists use price indexes? Exp ...
... Explain the four sectors of the product market used to make up the GDP (Output-Expenditure Model): A. Personal Consumption Expenditures B. Gross Investment C. Government Purchases D. Net Exports What is the difference between the Nominal GDP and the Real GDP. How do economists use price indexes? Exp ...
Chapter 12.3 Notes
... -provides avg output per person but not how that output is distributed -high per capita GDP usually means better nutrition, safer housing, longer life spans, better education Capitol Deepening -The process of increasing the amount of capital per worker -one of the most important sources of growth in ...
... -provides avg output per person but not how that output is distributed -high per capita GDP usually means better nutrition, safer housing, longer life spans, better education Capitol Deepening -The process of increasing the amount of capital per worker -one of the most important sources of growth in ...
SSEF6 - Productivity, Economic Growth and Standard of Living
... Economic development is a sustained increase in the standard of living of a country's population. Broadly understood, the standard of living includes a rise in the average incomes of the population as measured by real per capita GDP, and also improvements in health and education, some social protect ...
... Economic development is a sustained increase in the standard of living of a country's population. Broadly understood, the standard of living includes a rise in the average incomes of the population as measured by real per capita GDP, and also improvements in health and education, some social protect ...
Population Growth and Economic Growth
... rising GDP but it is the per capita numbers that matter. Besides, as the Dali Lama would suggest "growth" per se is not necessarily equated to the "wellbeing" or the "happiness" of the population, and on the downside increases the “take” from a planet struggling to provide and denudes “natural capit ...
... rising GDP but it is the per capita numbers that matter. Besides, as the Dali Lama would suggest "growth" per se is not necessarily equated to the "wellbeing" or the "happiness" of the population, and on the downside increases the “take” from a planet struggling to provide and denudes “natural capit ...
AS 3.5 Demonstrate understanding of macro
... • Some calculations you may need to make in this A.S – Rate of growth – Rate of inflation – Terms of Trade – Operating Balance – Balance of Payments • current account balance ...
... • Some calculations you may need to make in this A.S – Rate of growth – Rate of inflation – Terms of Trade – Operating Balance – Balance of Payments • current account balance ...
SECTION 7: Economic Growth & Productivity Need to Know —real GDP divided by the population size.
... • Labor productivity = (real GDP/# of people working) • Explaining productivity growth • Physical Capital (property rights & infrastructure) • Human Capital (educational system & political stability) • Technology ...
... • Labor productivity = (real GDP/# of people working) • Explaining productivity growth • Physical Capital (property rights & infrastructure) • Human Capital (educational system & political stability) • Technology ...
Chapter 12
... Diminishing returns and the catch-up effect Diminishing returns is the property whereby the extra benefit from an extra unit of an input declines as the quantity of input increases In the production process, capital is subject to diminishing returns As a result of diminishing returns to capital: – ...
... Diminishing returns and the catch-up effect Diminishing returns is the property whereby the extra benefit from an extra unit of an input declines as the quantity of input increases In the production process, capital is subject to diminishing returns As a result of diminishing returns to capital: – ...
Chapter 1: Human Misery
... turning points of business cycles. It provides information about the state of the economy 4 to 6 months ahead. ...
... turning points of business cycles. It provides information about the state of the economy 4 to 6 months ahead. ...
AP Macro: Unit 6
... • From 1909-2009, U.S. RGDP increased an average of 1.9% each year • Rule of 70: tells how long it takes RGDP (or any other variable) to double • Ex: U.S. RGDP grows at 2% per year. How long will it take for RGDP to double? • 70/2 = 35 years ...
... • From 1909-2009, U.S. RGDP increased an average of 1.9% each year • Rule of 70: tells how long it takes RGDP (or any other variable) to double • Ex: U.S. RGDP grows at 2% per year. How long will it take for RGDP to double? • 70/2 = 35 years ...
Economic freedom, investment and growth
... (Edwards; de Haan and Sturm; Tupy; Weede) Investment leads to economic growth (Dawson; Gelb, Ramachandran and Turner) ...
... (Edwards; de Haan and Sturm; Tupy; Weede) Investment leads to economic growth (Dawson; Gelb, Ramachandran and Turner) ...
Module 37 - Long Run Economic Growth
... • Real to separate changes in total goods and services from effects of changes in price levels • Per Capita to isolate effects of changes in population • Usually not policy goal • Related to standards of living ...
... • Real to separate changes in total goods and services from effects of changes in price levels • Per Capita to isolate effects of changes in population • Usually not policy goal • Related to standards of living ...
Mr. Mayer AP Macroeconomics
... • Tools, machinery, factories, infrastructure • Physical Capital is the product of Investment. • Investment is sensitive to interest rates and expected rates of return. • It takes capital to make capital. • Capital must be maintained. ...
... • Tools, machinery, factories, infrastructure • Physical Capital is the product of Investment. • Investment is sensitive to interest rates and expected rates of return. • It takes capital to make capital. • Capital must be maintained. ...
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.