![4. The Goods Market](http://s1.studyres.com/store/data/011653058_1-43e5a6f8f41f2541d367a5eaf72bd6d5-300x300.png)
4. The Goods Market
... A one per cent increase in import prices increased the relative price of business investment (PIB) the most but only slightly more than the relative price of government market demand (PDGM), while the relative prices of non-rental consumption (PCNR) fell slightly and the price of dwelling investment ...
... A one per cent increase in import prices increased the relative price of business investment (PIB) the most but only slightly more than the relative price of government market demand (PDGM), while the relative prices of non-rental consumption (PCNR) fell slightly and the price of dwelling investment ...
Transitional Dynamics in the Solow
... rate of real per-capita output equals the rate of technological progress, which is taken as an exogenous variable. In the absence of exogenous technical change economic growth would be zero. Although neoclassical growth theory is unable to reveal the ultimate sources of long run growth, it provides ...
... rate of real per-capita output equals the rate of technological progress, which is taken as an exogenous variable. In the absence of exogenous technical change economic growth would be zero. Although neoclassical growth theory is unable to reveal the ultimate sources of long run growth, it provides ...
Chapter 8
... rate fell. After 1991, saving supply and investment demand shifted rightward at similar rates, so the real interest rate did not fluctuate much. V. The Role of Government A. Government saving is part of total saving. Because funds flow between countries and the real interest rate is determined in th ...
... rate fell. After 1991, saving supply and investment demand shifted rightward at similar rates, so the real interest rate did not fluctuate much. V. The Role of Government A. Government saving is part of total saving. Because funds flow between countries and the real interest rate is determined in th ...
What Determines Economic Growth?
... the capital–labor ratio is more than k僓, investment per worker falls short of that required to keep k constant, so k falls. Thus, the economy gravitates toward k僓. This is called a steady state because the economy can persist forever at this point. The capital stock and the level of output are risin ...
... the capital–labor ratio is more than k僓, investment per worker falls short of that required to keep k constant, so k falls. Thus, the economy gravitates toward k僓. This is called a steady state because the economy can persist forever at this point. The capital stock and the level of output are risin ...
9772 economics
... definitions in terms of ‘short-run and long-run’, ‘potential and actual’. Candidates should consider how standard of living is measured and there is plenty of opportunity for discussion of this in relation to general well-being/‘quality of life’. Knowledge of the different objectives that a governme ...
... definitions in terms of ‘short-run and long-run’, ‘potential and actual’. Candidates should consider how standard of living is measured and there is plenty of opportunity for discussion of this in relation to general well-being/‘quality of life’. Knowledge of the different objectives that a governme ...
A change in autonomous planned spending is
... aircrafts. This will raise Boeing workers income by 4 billion, out of which they will soon spend .75 on goods and services, that will raise output by 3 billion of consumer goods in the second round. A rise in income by 3 billion will raise spending by 2.25,….., and ...
... aircrafts. This will raise Boeing workers income by 4 billion, out of which they will soon spend .75 on goods and services, that will raise output by 3 billion of consumer goods in the second round. A rise in income by 3 billion will raise spending by 2.25,….., and ...
Chapter 4 The Social Market Economy
... President of the United States in public. But I can be fired for criticizing my employer in public. Is this right?) The second aspect to emphasize about the philosophy of the social market economy is that it is moralistic. Unlike Marx, the supporters of the social market economy do not reject religi ...
... President of the United States in public. But I can be fired for criticizing my employer in public. Is this right?) The second aspect to emphasize about the philosophy of the social market economy is that it is moralistic. Unlike Marx, the supporters of the social market economy do not reject religi ...
1 DEMAND SCENARIOS IN TIMES-EFDA
... from the model results and some estimates taken from the literature, showed that the Base scenario can be considered quite coherent with the literature, especially with regard to the industrial and transport sectors. The elasticities calculated from the model results are instead too low for the comm ...
... from the model results and some estimates taken from the literature, showed that the Base scenario can be considered quite coherent with the literature, especially with regard to the industrial and transport sectors. The elasticities calculated from the model results are instead too low for the comm ...
A:#1.wpd
... a. U.S. government bonds which are purchased because of their security. b. the reserve requirement multiplied times demand deposits. c. the difference between excess reserves and the bank's demand deposits. d. none of the above. 26. If the reserve requirement is 20% (or one-fifth, the reciprocal of ...
... a. U.S. government bonds which are purchased because of their security. b. the reserve requirement multiplied times demand deposits. c. the difference between excess reserves and the bank's demand deposits. d. none of the above. 26. If the reserve requirement is 20% (or one-fifth, the reciprocal of ...
The Keynesian Cross Model
... Interest Rates and Investment • The negative relationship between interest rates and investment exists because firms must either borrow or generate their own funds to invest. – As a result, firms are willing to invest in only those projects that pay a return in excess of the borrowing cost or rate ...
... Interest Rates and Investment • The negative relationship between interest rates and investment exists because firms must either borrow or generate their own funds to invest. – As a result, firms are willing to invest in only those projects that pay a return in excess of the borrowing cost or rate ...
p.43 (3, 6-9)
... 1. Most students have difficulty with the concept of allocative efficiency as opposed to productive efficiency. Even after mastering the concept, they may downplay its significance until they are given examples of situations where allocative efficiency has not existed. A comparison between capitalis ...
... 1. Most students have difficulty with the concept of allocative efficiency as opposed to productive efficiency. Even after mastering the concept, they may downplay its significance until they are given examples of situations where allocative efficiency has not existed. A comparison between capitalis ...
1998-43
... The Australian trade policy debate in the 1930s was largely influenced by the view that tariffs on manufactures have protected the living standard of wage earners. The idea that tariff protection raised real wages or it created an environment where more workers could be employed at a given real wage ...
... The Australian trade policy debate in the 1930s was largely influenced by the view that tariffs on manufactures have protected the living standard of wage earners. The idea that tariff protection raised real wages or it created an environment where more workers could be employed at a given real wage ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research Volume Title: Economic Analysis of Environmental Problems
... another. These problems arise because the labor market is not perfect: the wage rate is fixed from outside in case there is an excess supply of labor. Only when there is an excess demand for labor will the wage rate rise. It is shown that if effluent charges are used as an instrument in environmenta ...
... another. These problems arise because the labor market is not perfect: the wage rate is fixed from outside in case there is an excess supply of labor. Only when there is an excess demand for labor will the wage rate rise. It is shown that if effluent charges are used as an instrument in environmenta ...
The Golden Age of European growth reconsidered
... access to government programmes. The international ones included institutions like GATT, ECSC and EPU that appeared to have had little positive effect. Eichengreen emphasised their role in precluding negative effects, assuring that trade would remain free as conditions changed. This is an intriguing ...
... access to government programmes. The international ones included institutions like GATT, ECSC and EPU that appeared to have had little positive effect. Eichengreen emphasised their role in precluding negative effects, assuring that trade would remain free as conditions changed. This is an intriguing ...
Determination of Income and Employment Key concepts Aggregate
... Unit VIII: Determination of Income and Employment Key concepts Aggregate demand and its components. Propensity to consume and propensity to save Short run fixed price in product market equilibrium output, investment or output multiplier and the multiplier mechanism. Meaning of full employment and in ...
... Unit VIII: Determination of Income and Employment Key concepts Aggregate demand and its components. Propensity to consume and propensity to save Short run fixed price in product market equilibrium output, investment or output multiplier and the multiplier mechanism. Meaning of full employment and in ...
aggregate supply (AS) curve
... If planned aggregate expenditure and aggregate demand exceed YF, however, there is an inflationary gap and the price level rises to P3. ...
... If planned aggregate expenditure and aggregate demand exceed YF, however, there is an inflationary gap and the price level rises to P3. ...
10.04 The International Effects of China`s Growth, Trade and
... commodity price changes can affect factor prices - the Stolper-Sameulson effects and how these in turn affect capital and human capital accumulation decisions in each country. Both regions are modeled as small open economies with respect to the Rest of the World (ROW), but not with respect to each o ...
... commodity price changes can affect factor prices - the Stolper-Sameulson effects and how these in turn affect capital and human capital accumulation decisions in each country. Both regions are modeled as small open economies with respect to the Rest of the World (ROW), but not with respect to each o ...
aggregate supply (AS) curve
... Fed rule Equation that shows how the Fed’s interest rate decision depends on the state of the economy, particularly the output (Y). As the Fed thinks about its interest rate setting, it considers factors other than current output and inflation, such as levels of consumer confidence, possible fragil ...
... Fed rule Equation that shows how the Fed’s interest rate decision depends on the state of the economy, particularly the output (Y). As the Fed thinks about its interest rate setting, it considers factors other than current output and inflation, such as levels of consumer confidence, possible fragil ...
Ragnar Nurkse's balanced growth theory
The balanced growth theory is an economic theory pioneered by the economist Ragnar Nurkse (1907–1959). The theory hypothesises that the government of any underdeveloped country needs to make large investments in a number of industries simultaneously. This will enlarge the market size, increase productivity, and provide an incentive for the private sector to invest.Nurkse was in favour of attaining balanced growth in both the industrial and agricultural sectors of the economy. He recognised that the expansion and inter-sectoral balance between agriculture and manufacturing is necessary so that each of these sectors provides a market for the products of the other and in turn, supplies the necessary raw materials for the development and growth of the other.Nurkse and Paul Rosenstein-Rodan were the pioneers of balanced growth theory and much of how it is understood today dates back to their work.Nurkse's theory discusses how the poor size of the market in underdeveloped countries perpetuates its underdeveloped state. Nurkse has also clarified the various determinants of the market size and puts primary focus on productivity. According to him, if the productivity levels rise in a less developed country, its market size will expand and thus it can eventually become a developed economy. Apart from this, Nurkse has been nicknamed an export pessimist, as he feels that the finances to make investments in underdeveloped countries must arise from their own domestic territory. No importance should be given to promoting exports.