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Imperfect Competition, Underemployment Equilibria and
... portfolio).8 I employ two assumptions about the distribution of profits across households, i.e. about the Ads,that will prove analytically convenient. First, profits are distributed uniformly across locations, so that there is no concentration of demand on any particular brand due to unequal distrib ...
... portfolio).8 I employ two assumptions about the distribution of profits across households, i.e. about the Ads,that will prove analytically convenient. First, profits are distributed uniformly across locations, so that there is no concentration of demand on any particular brand due to unequal distrib ...
War-torn countries, natural resources, emerging-power
... Countries at low levels of development coming out of civil war or other chaos – following peace agreements or military intervention – find it particularly difficult to foster domestic savings or attract foreign direct investment (FDI) in the short run. This is true despite the fact that many of these ...
... Countries at low levels of development coming out of civil war or other chaos – following peace agreements or military intervention – find it particularly difficult to foster domestic savings or attract foreign direct investment (FDI) in the short run. This is true despite the fact that many of these ...
Chapter 4: Economic growth and chronic poverty
... fuelled in part by oil price rises (Figure 3). This is mainly a result of growth and consequent changing consumption patterns (more meat, vegetables, oil and fish) in China and other fast-growing and urbanising developing countries, as well as changes in OECD demand and policies on biofuels. Most an ...
... fuelled in part by oil price rises (Figure 3). This is mainly a result of growth and consequent changing consumption patterns (more meat, vegetables, oil and fish) in China and other fast-growing and urbanising developing countries, as well as changes in OECD demand and policies on biofuels. Most an ...
CHAPTER 9 - Economics
... (what we studied in chapters 3-8) Output is determined by the supply side: – supplies of capital, labor – technology Changes in demand for goods & services (C, I, G ) only affect prices, not quantities. Complete price flexibility is a crucial assumption, so classical theory applies in the long ...
... (what we studied in chapters 3-8) Output is determined by the supply side: – supplies of capital, labor – technology Changes in demand for goods & services (C, I, G ) only affect prices, not quantities. Complete price flexibility is a crucial assumption, so classical theory applies in the long ...
sample only THE CPAP STUDY GUIDE TO VCE
... Definition of Full Employment .................................................................................................................................................... 72 The benefits and costs of achieving full employment ................................................................. ...
... Definition of Full Employment .................................................................................................................................................... 72 The benefits and costs of achieving full employment ................................................................. ...
Aggregate Demand/Aggregate Supply
... • During most years, the aggregate demand curve will be shifting to the right. • Except during periods when workers and firms expect high rates of inflation, the short-run aggregate supply curve will be shifting to the right as productivity increases. ...
... • During most years, the aggregate demand curve will be shifting to the right. • Except during periods when workers and firms expect high rates of inflation, the short-run aggregate supply curve will be shifting to the right as productivity increases. ...
Mankiw 5/e Chapter 3: National Income
... interest rate to rise and investment to fall. An increase in investment demand causes the interest rate to rise, but does not affect the equilibrium level of investment if the supply of loanable funds is fixed. ...
... interest rate to rise and investment to fall. An increase in investment demand causes the interest rate to rise, but does not affect the equilibrium level of investment if the supply of loanable funds is fixed. ...
4 Theories of the Public Sector
... share of public sector in GDP had been increasing over time three components: ...
... share of public sector in GDP had been increasing over time three components: ...
Growth Effects of 1992 - Graduate Institute of International and
... fraction s). This assumption enormously simplifies the exposition without fundamentally altering the conclusions. However, since the assumption disobeys a standing order in modern macro theory -'if it moves, maximize it'- an optimizing model is sketched in Appendix A. This constant investment rate ...
... fraction s). This assumption enormously simplifies the exposition without fundamentally altering the conclusions. However, since the assumption disobeys a standing order in modern macro theory -'if it moves, maximize it'- an optimizing model is sketched in Appendix A. This constant investment rate ...
CHAPTER OVERVIEW
... 3. Changes in business inventory is an entry that represents the difference between what has been produced and what is sold. Although this entry is very small compared to total GDP, it is one of the most important indicators of future business activity. It has an important role in the income determi ...
... 3. Changes in business inventory is an entry that represents the difference between what has been produced and what is sold. Although this entry is very small compared to total GDP, it is one of the most important indicators of future business activity. It has an important role in the income determi ...
Estimating Effects of Structural Funds in Slovak Regions
... Looking at the production side, the model consists of three major blocks: supply, demand, and income distribution in the economy. The model is constructed as an integrated system of equations with connections between individual blocks and sectors. It is founded on the Keynesian assumptions and mecha ...
... Looking at the production side, the model consists of three major blocks: supply, demand, and income distribution in the economy. The model is constructed as an integrated system of equations with connections between individual blocks and sectors. It is founded on the Keynesian assumptions and mecha ...
Unit F582 - The national and international economy
... qualifications to meet the needs of candidates of all ages and abilities. OCR qualifications include AS/A Levels, Diplomas, GCSEs, Cambridge Nationals, Cambridge Technicals, Functional Skills, Key Skills, Entry Level qualifications, NVQs and vocational qualifications in areas such as IT, business, l ...
... qualifications to meet the needs of candidates of all ages and abilities. OCR qualifications include AS/A Levels, Diplomas, GCSEs, Cambridge Nationals, Cambridge Technicals, Functional Skills, Key Skills, Entry Level qualifications, NVQs and vocational qualifications in areas such as IT, business, l ...
- Covenant University Repository
... not experienced expansion to cater for increasing demand associated with population growth. The rate of urbanization in Nigeria has witnessed tremendous increase in the last two decades. Census in the early Fifties showed that there were about 56 cities in the country and about 10.6% of the total po ...
... not experienced expansion to cater for increasing demand associated with population growth. The rate of urbanization in Nigeria has witnessed tremendous increase in the last two decades. Census in the early Fifties showed that there were about 56 cities in the country and about 10.6% of the total po ...
(PDF)
... gains of businesses, and (c) public sector revenue. As labor productivity grows, it may be possible for all of these to increase simultaneously, without gains in one coming at the cost of one of the others.4 It is evident from the reported estimates of productivity growth that the U.S. economy’s abi ...
... gains of businesses, and (c) public sector revenue. As labor productivity grows, it may be possible for all of these to increase simultaneously, without gains in one coming at the cost of one of the others.4 It is evident from the reported estimates of productivity growth that the U.S. economy’s abi ...
Tackling inequality through trade and development in the
... less generous social transfers. Other forms of inequality such as wealth distribution, gender disparities and differences in access to education are also important, as they may significantly undermine equality of opportunities and social mobility. While the relationship between growth and inequality ...
... less generous social transfers. Other forms of inequality such as wealth distribution, gender disparities and differences in access to education are also important, as they may significantly undermine equality of opportunities and social mobility. While the relationship between growth and inequality ...
Answer Key - Department Of Economics
... 25. “When workers have a relatively small quantity of capital to use in producing goods and services, giving them an additional unit of capital increases their productivity by a relatively large amount.” This statement a. is an assertion that production functions have the property of constant return ...
... 25. “When workers have a relatively small quantity of capital to use in producing goods and services, giving them an additional unit of capital increases their productivity by a relatively large amount.” This statement a. is an assertion that production functions have the property of constant return ...
Commodity Price Supercycles: What Are They and
... of new projects (Majd and Pindyck 1987). Small forecasting errors on the part of firms have been found to have large consequences for prices in other industries with high start-up costs and long-lived projects, such as shipping (Greenwood and Hanson 2015). It is important to note that not all commod ...
... of new projects (Majd and Pindyck 1987). Small forecasting errors on the part of firms have been found to have large consequences for prices in other industries with high start-up costs and long-lived projects, such as shipping (Greenwood and Hanson 2015). It is important to note that not all commod ...
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.