Natural Capital, Sustainability and Productivity
... used as inputs were not free — capital and labour had to be used to extract or harvest them — but because of the relative abundance of natural resources they were routinely ignored in productivity studies and other aggregate analyses of the economy. It is typically when market or implicit prices of ...
... used as inputs were not free — capital and labour had to be used to extract or harvest them — but because of the relative abundance of natural resources they were routinely ignored in productivity studies and other aggregate analyses of the economy. It is typically when market or implicit prices of ...
The Long-run Effect of Innovations on Economic Growth
... (2012b) argued that new technologies often fail to improve people’s living standard in a costeffective way.3 He also found support for his view using the fact that the rate of US life expectancy improvement since the 1950s declined by two thirds compared with that of the earlier half century. On the ...
... (2012b) argued that new technologies often fail to improve people’s living standard in a costeffective way.3 He also found support for his view using the fact that the rate of US life expectancy improvement since the 1950s declined by two thirds compared with that of the earlier half century. On the ...
Chapter 8
... Since current consumption, C, rises, but by less than the increase in real GDP, Y. Therefore, net investment, ∆K, must increase - the increase in real GDP shows up partly as more C and partly as more K. Since net investment, K, equals real saving, this result is consistent with our finding that real ...
... Since current consumption, C, rises, but by less than the increase in real GDP, Y. Therefore, net investment, ∆K, must increase - the increase in real GDP shows up partly as more C and partly as more K. Since net investment, K, equals real saving, this result is consistent with our finding that real ...
Was Stalin Necessary for Russia`s Economic Development?
... assess this argument. Our welfare assessment results are as follows:7 Stalin’s policies led to substantial short run costs (1928-1940) amounting to 24.1 percent of consumption.8 However, in the long run, the generation born in 1940 reaped the benefits of the reduction of frictions that yielded a 16 ...
... assess this argument. Our welfare assessment results are as follows:7 Stalin’s policies led to substantial short run costs (1928-1940) amounting to 24.1 percent of consumption.8 However, in the long run, the generation born in 1940 reaped the benefits of the reduction of frictions that yielded a 16 ...
GCE Economics Mark Scheme Unit 02 - The National
... 2 marks should be awarded for each logical link in the chain of reasoning. If AD grows more slowly than potential output excess aggregate supply will emerge (2 marks), the economy will experience a negative output gap/spare capacity (2 marks), there will be an involuntary increase in stocks (2 marks ...
... 2 marks should be awarded for each logical link in the chain of reasoning. If AD grows more slowly than potential output excess aggregate supply will emerge (2 marks), the economy will experience a negative output gap/spare capacity (2 marks), there will be an involuntary increase in stocks (2 marks ...
China`s War on Poverty: Assessing Targeting and the Growth
... Although urban poverty is new, and is perhaps increasing, it is still small relative to rural poverty in terms of both headcount and severity. In this paper, we also focus primarily on the plight of the poor in China’s officially designated poor areas and analyze the effect of the presence of a pove ...
... Although urban poverty is new, and is perhaps increasing, it is still small relative to rural poverty in terms of both headcount and severity. In this paper, we also focus primarily on the plight of the poor in China’s officially designated poor areas and analyze the effect of the presence of a pove ...
African Economic Outlook
... cent of the labour force. However, the high population growth rate, coupled with declining average farm size, is an obstacle to agricultural production. A recent World Bank report shows that Uganda has the highest dependency ratio, i.e., the number of young people (under 16) and older people (over 6 ...
... cent of the labour force. However, the high population growth rate, coupled with declining average farm size, is an obstacle to agricultural production. A recent World Bank report shows that Uganda has the highest dependency ratio, i.e., the number of young people (under 16) and older people (over 6 ...
Household Expectations and Household Consumption Expenditures: The Case of Turkey Evren CERİTOĞLU
... consumption should be independent of expected income changes (Deaton, 1992). However, empirical research for developed economies rejects the empirical validity of the strict version of the REPIH (Hall, 1978; Flavin, 1981; Campbell and Mankiw, 1989; Attanasio and Weber, 2010). Moreover, previous empi ...
... consumption should be independent of expected income changes (Deaton, 1992). However, empirical research for developed economies rejects the empirical validity of the strict version of the REPIH (Hall, 1978; Flavin, 1981; Campbell and Mankiw, 1989; Attanasio and Weber, 2010). Moreover, previous empi ...
Impact of Sectoral Growth on Poverty under Alternative
... and lignite, and crude oil and natural gas, the two components of primary energy are combined as one ‘primary energy sector’. The primary energy requires higher investment in exploration and also due to high domestic demand a substantial amount of it is imported ...
... and lignite, and crude oil and natural gas, the two components of primary energy are combined as one ‘primary energy sector’. The primary energy requires higher investment in exploration and also due to high domestic demand a substantial amount of it is imported ...
Business Cycles
... changes in real gross domestic product. Real gross domestic product (real GDP) – the market value of final goods and services produced in the economy stated in the prices of a given year. ...
... changes in real gross domestic product. Real gross domestic product (real GDP) – the market value of final goods and services produced in the economy stated in the prices of a given year. ...
Alert Mechanism Report 2016
... Member States, this combination of policies would contribute to put the rebalancing process on a more stable footing by making it more symmetric, while making the recovery more selfsustainable. More detailed and encompassing analyses for Member States flagged by the AMR will be performed in in-depth ...
... Member States, this combination of policies would contribute to put the rebalancing process on a more stable footing by making it more symmetric, while making the recovery more selfsustainable. More detailed and encompassing analyses for Member States flagged by the AMR will be performed in in-depth ...
Ch 37 - gdp and gnp - The Good, the Bad and the Economist
... we shall see – price increases will distort (inflate) real output figures. We deduct stock appreciation in order to use a truer value since unsold goods and half-finished products lying in warehouses for lengthy periods would be given a higher value when added to the GDP figures than when originally ...
... we shall see – price increases will distort (inflate) real output figures. We deduct stock appreciation in order to use a truer value since unsold goods and half-finished products lying in warehouses for lengthy periods would be given a higher value when added to the GDP figures than when originally ...
Was Stalin Necessary for Russia`s Economic
... assess this argument. Our welfare assessment results are as follows:7 Stalin’s policies led to substantial short run costs (1928-1940) amounting to 24.1 percent of consumption.8 However, in the long run, the generation born in 1940 reaped the benefits of the reduction of frictions that yielded a 16 ...
... assess this argument. Our welfare assessment results are as follows:7 Stalin’s policies led to substantial short run costs (1928-1940) amounting to 24.1 percent of consumption.8 However, in the long run, the generation born in 1940 reaped the benefits of the reduction of frictions that yielded a 16 ...
Australia Philippines Taiwan Thailand
... in turn, impact wages, profits, and government revenues. In addition, investment will likely remain patchy this year due to an expected fall in commodity prices, falling mining-related investment, and a slowdown in investment in Australia’s largest trading partner, China. While lower interest rates, ...
... in turn, impact wages, profits, and government revenues. In addition, investment will likely remain patchy this year due to an expected fall in commodity prices, falling mining-related investment, and a slowdown in investment in Australia’s largest trading partner, China. While lower interest rates, ...
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.