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Economic Growth
... Technological progress growth of total factor productivity: increase in output that results from improvements in methods of production, for given levels of N and K ...
... Technological progress growth of total factor productivity: increase in output that results from improvements in methods of production, for given levels of N and K ...
1 1) Consider I = b +b Y-b
... E) Let’s assume you’re still the central banker many years later when inflation has again become uncomfortably high. You announce that you again plan to undertake a disinflationary policy. Remembering how well you handled the first disinflation, the people of Macronesia believe that you will carry o ...
... E) Let’s assume you’re still the central banker many years later when inflation has again become uncomfortably high. You announce that you again plan to undertake a disinflationary policy. Remembering how well you handled the first disinflation, the people of Macronesia believe that you will carry o ...
Diapositiva 1 - Regionale Economie Groningen
... imposed in the estimation process; is there any alternative solution? ...
... imposed in the estimation process; is there any alternative solution? ...
Answers to Second Midterm (version 2)
... 3. The Solow growth model predicts that countries with higher population growth rates will have a. Lower steady-state levels of output per worker. b. Lower steady-state growth rates of output per worker. 4. If inflation falls from 6 percent to 4 percent and nothing else changes, then, according to t ...
... 3. The Solow growth model predicts that countries with higher population growth rates will have a. Lower steady-state levels of output per worker. b. Lower steady-state growth rates of output per worker. 4. If inflation falls from 6 percent to 4 percent and nothing else changes, then, according to t ...
IS –LM model
... • Initially, the economy is at point 1 at the intersection of AD1 and AS1, where the realized price level is at the expected price level P1 and aggregate output is at the natural rate level Yn. • Because point 1 is also on the long-run aggregate supply curve at Yn, there is no tendency for the aggre ...
... • Initially, the economy is at point 1 at the intersection of AD1 and AS1, where the realized price level is at the expected price level P1 and aggregate output is at the natural rate level Yn. • Because point 1 is also on the long-run aggregate supply curve at Yn, there is no tendency for the aggre ...
Homework 1
... factory which uses labor, materials and capital machinery referred to as a die press to produce goods. To start producing any goods, the factory has sunk set-up costs of $25,000 per year. Up to 300 die presses can be installed in the factory in increments of 50. The costs of owning and using a die p ...
... factory which uses labor, materials and capital machinery referred to as a die press to produce goods. To start producing any goods, the factory has sunk set-up costs of $25,000 per year. Up to 300 die presses can be installed in the factory in increments of 50. The costs of owning and using a die p ...
Answer Key
... IF a central bank in charge of maintaining a fixed exchange rate prints money to purchase government debt it creates more money than is demanded at the equilibrium interest rate. As people sell the excess money for foreign money, the central bank must buy this money with its reserves to avoid a depr ...
... IF a central bank in charge of maintaining a fixed exchange rate prints money to purchase government debt it creates more money than is demanded at the equilibrium interest rate. As people sell the excess money for foreign money, the central bank must buy this money with its reserves to avoid a depr ...
ECON102 2015-16 Spring Midterm Exam Answer Key
... b. Real GDP falls by 0.4 percent in the third quarter. c. Inflation was 2.4 percent last year. d. The price of gasoline rises due to rising oil prices. 2. For an economy as a whole, income must equal expenditure because a. the number of firms is equal to the number of households in an economy. b. in ...
... b. Real GDP falls by 0.4 percent in the third quarter. c. Inflation was 2.4 percent last year. d. The price of gasoline rises due to rising oil prices. 2. For an economy as a whole, income must equal expenditure because a. the number of firms is equal to the number of households in an economy. b. in ...
Phillips Curve FRQs answers
... demand in the short run? Explain. AD decreases. Increase in r causes decrease in C, a component of AD. (f) Assume that the Federal Reserve action is successful. What will happen to each of the following as the economy approaches a new long-run equilibrium? (i) The short-run Phillips curve. Explain. ...
... demand in the short run? Explain. AD decreases. Increase in r causes decrease in C, a component of AD. (f) Assume that the Federal Reserve action is successful. What will happen to each of the following as the economy approaches a new long-run equilibrium? (i) The short-run Phillips curve. Explain. ...
State owned enterprises in vietnam
... All Groups are in the trial procedure (trial and correction style). In 2004, 8 Groups were established. 4 others were established in 2009. There are only 4 articles in Law of Corporations 2005 about features, functions and responsibilities of SOEs. Detailed legal regulation is decided by Gover ...
... All Groups are in the trial procedure (trial and correction style). In 2004, 8 Groups were established. 4 others were established in 2009. There are only 4 articles in Law of Corporations 2005 about features, functions and responsibilities of SOEs. Detailed legal regulation is decided by Gover ...
14.02: Principles of Macroeconomics
... answers. Your score will largely reflect the quality and relevance of your explanation. 1. When the Fed carries out a contractionary open market operation, it raises the price of bonds, and lowers the output level. False. When the Fed carries out a contractionary open market operation, it basically ...
... answers. Your score will largely reflect the quality and relevance of your explanation. 1. When the Fed carries out a contractionary open market operation, it raises the price of bonds, and lowers the output level. False. When the Fed carries out a contractionary open market operation, it basically ...
Answers to Homework #2
... The ratio of labor income to capital income is 100/100 or 1: this ratio is a constant for the economy described in (a). i. If capital and labor both increase by 100% while technology is constant, what will the new levels of output and output per worker be in this economy? (Round your answer to the n ...
... The ratio of labor income to capital income is 100/100 or 1: this ratio is a constant for the economy described in (a). i. If capital and labor both increase by 100% while technology is constant, what will the new levels of output and output per worker be in this economy? (Round your answer to the n ...
2004 Question - The University of Auckland
... units, total revenue would increase, marginal revenue would fall from $2.00 to $1.90 and marginal cost would rise from $2.00 to $2.10. To maximise profit the monopolist should: (a) increase output to 12000 units (b) increase output to a range between 10000 and 12000 units (c) leave output unchanged ...
... units, total revenue would increase, marginal revenue would fall from $2.00 to $1.90 and marginal cost would rise from $2.00 to $2.10. To maximise profit the monopolist should: (a) increase output to 12000 units (b) increase output to a range between 10000 and 12000 units (c) leave output unchanged ...
question 1 - Institute of Bankers in Malawi
... Say the economy starts at point U with expected inflation at 0%, and the government decide that they want to lower the level of unemployment because it is too high. They therefore decide to boost demand by 5%. The attempt to reduce unemployment would primarily be through boosting aggregate demand ( ...
... Say the economy starts at point U with expected inflation at 0%, and the government decide that they want to lower the level of unemployment because it is too high. They therefore decide to boost demand by 5%. The attempt to reduce unemployment would primarily be through boosting aggregate demand ( ...
Dr. Yetkiner 10 pts
... 4. (25 Points) Assume that the economy starts at the natural level of output. Now suppose that there is an increase in price of oil. a) (10 pts) In an AS-AD diagram, show what happens to output and the price level in the short run and the long run. b) (3 pts) What happens to the unemployment rate in ...
... 4. (25 Points) Assume that the economy starts at the natural level of output. Now suppose that there is an increase in price of oil. a) (10 pts) In an AS-AD diagram, show what happens to output and the price level in the short run and the long run. b) (3 pts) What happens to the unemployment rate in ...
Macroeconomics: The Bird`s Eye View of the Global Economy
... bonds affect the money supply and the nominal interest rate? Why does the Fed typically expresses its policy intentions in terms of a specific nominal interest rate, the federal funds rate? 1. In the short run the Fed can control the real interest rate (equal to the nominal rate minus the inflation ...
... bonds affect the money supply and the nominal interest rate? Why does the Fed typically expresses its policy intentions in terms of a specific nominal interest rate, the federal funds rate? 1. In the short run the Fed can control the real interest rate (equal to the nominal rate minus the inflation ...
Partial Answer Key
... The Role of α. As always, α illustrates the importance of capital in production. But there’s a big difference in the relationship between α and output in this model compared with the traditional Solow model. Recall that in Solow, we came up with a steady state level of output per person as a functio ...
... The Role of α. As always, α illustrates the importance of capital in production. But there’s a big difference in the relationship between α and output in this model compared with the traditional Solow model. Recall that in Solow, we came up with a steady state level of output per person as a functio ...