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MACROECONOMICS Section I
... (C) people who do not have jobs and have given up looking for work (D) people in the adult population who do not have jobs (E) people in the adult population who have temporary jobs 19. The classical economists argued that involuntary unemployment would be eliminated by (A) increasing government spe ...
... (C) people who do not have jobs and have given up looking for work (D) people in the adult population who do not have jobs (E) people in the adult population who have temporary jobs 19. The classical economists argued that involuntary unemployment would be eliminated by (A) increasing government spe ...
Development of Human and Physical Capital and Change in the
... capital played a primary role in the success of those economies that developed a strong manufacturing base. The development of a strong manufacturing base helped these countries to promote manufactured exports and move away from primary exports. The idea that human and physical capital development p ...
... capital played a primary role in the success of those economies that developed a strong manufacturing base. The development of a strong manufacturing base helped these countries to promote manufactured exports and move away from primary exports. The idea that human and physical capital development p ...
2013 Review of Remuneration for Holders of Public Office
... given the general caution in the industry and continued focus on reducing costs. For non-mining business investment, the recent ABS data on firms’ capital expenditure plans for 2013/14 were positive. Nevertheless, other, near-term indicators of investment remain subdued, despite conditions generally ...
... given the general caution in the industry and continued focus on reducing costs. For non-mining business investment, the recent ABS data on firms’ capital expenditure plans for 2013/14 were positive. Nevertheless, other, near-term indicators of investment remain subdued, despite conditions generally ...
Multiplier
... 3. Formulation of Economic Policies The government can decide upon the amount of investment to be injected into the economy to reduce unemployment. The multiplier theory helps the government in formulating an appropriate employment policy during depression. During depression, Government’s public wo ...
... 3. Formulation of Economic Policies The government can decide upon the amount of investment to be injected into the economy to reduce unemployment. The multiplier theory helps the government in formulating an appropriate employment policy during depression. During depression, Government’s public wo ...
ECON 102 Tutorial: Week 19
... Suppose the equation of the demand for money curve is MD = 20,000 8,000i. In part (a) we found the equilibrium rate of interest is 5% if money supply is 19,600. By how much would the central bank have to change the money supply if it wished to increased the equilibrium rate of interest by 1 per ce ...
... Suppose the equation of the demand for money curve is MD = 20,000 8,000i. In part (a) we found the equilibrium rate of interest is 5% if money supply is 19,600. By how much would the central bank have to change the money supply if it wished to increased the equilibrium rate of interest by 1 per ce ...
These are some practice questions for CHAPTER 22
... These are some practice questions for CHAPTER 22. Each question should have a single answer. But be careful. There may be errors in the answer key! 42. With respect to consumption, investment, government purchases and net exports, the national income accounts measure a. actual expenditures in each o ...
... These are some practice questions for CHAPTER 22. Each question should have a single answer. But be careful. There may be errors in the answer key! 42. With respect to consumption, investment, government purchases and net exports, the national income accounts measure a. actual expenditures in each o ...
Growth
... We can think of growth as coming from capital accumulation and from technological progress, but these two factors play very different roles in the growth process: Capital accumulation by itself cannot sustain growth. Saving rate is the proportion of income that is saved. Sustained growth require ...
... We can think of growth as coming from capital accumulation and from technological progress, but these two factors play very different roles in the growth process: Capital accumulation by itself cannot sustain growth. Saving rate is the proportion of income that is saved. Sustained growth require ...
Economics 51GH - Fall Semester 2000
... 23. A zero-sum game is a situation in which a. everyone is made worse off. b. the probability of winning is less than 50 percent c. it’s sort of like strip poker d. one must make an all-or-nothing bet to play the game. e. one person can gain only if another loses. 24. If John goes to the movies and ...
... 23. A zero-sum game is a situation in which a. everyone is made worse off. b. the probability of winning is less than 50 percent c. it’s sort of like strip poker d. one must make an all-or-nothing bet to play the game. e. one person can gain only if another loses. 24. If John goes to the movies and ...
Growth Theories
... Robert Solow discovered that diminishing returns are well described by the one-third rule: With no change in technology, on the average, a 1 percent increase in capital per hour of labor brings a 1/3 percent increase in labor productivity (real GDP per hour of labor). For example, suppose capital pe ...
... Robert Solow discovered that diminishing returns are well described by the one-third rule: With no change in technology, on the average, a 1 percent increase in capital per hour of labor brings a 1/3 percent increase in labor productivity (real GDP per hour of labor). For example, suppose capital pe ...
File
... Had the foreigners used their export income, which is denominated in $A to purchase other goods and services from Australia, then there would have been a trade balance. A trade deficit thus means that the foreigners are increasing their nominal savings (which in this case manifests as Australian dol ...
... Had the foreigners used their export income, which is denominated in $A to purchase other goods and services from Australia, then there would have been a trade balance. A trade deficit thus means that the foreigners are increasing their nominal savings (which in this case manifests as Australian dol ...
Document
... Lucas (1988): externalities take the form of public learning, which increases the stock of human capital and affects productivity of all factors. Barro (1990): externalities associated with public investment. Externalities is associated with increasing returns to scale in production function. Bu ...
... Lucas (1988): externalities take the form of public learning, which increases the stock of human capital and affects productivity of all factors. Barro (1990): externalities associated with public investment. Externalities is associated with increasing returns to scale in production function. Bu ...
monetary policy introduction the money market the price of money
... Several constraints can limit the Fed’s ability to alter the money supply, interest rates, or aggregate demand. ...
... Several constraints can limit the Fed’s ability to alter the money supply, interest rates, or aggregate demand. ...
02-25-2005
... (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 ...
Nature, Power, and Growth
... example, display the same characteristics, which is not surprising since many of them saw the Soviet Union as an economic example to be followed. The danger of poor or even useless capital is much less in a market economy because the market demands that investment provide satisfactory returns. From ...
... example, display the same characteristics, which is not surprising since many of them saw the Soviet Union as an economic example to be followed. The danger of poor or even useless capital is much less in a market economy because the market demands that investment provide satisfactory returns. From ...
Allowing for Low-Cost Labor in Underdeveloped and
... major factors that decide whether a country will succeed in achieving and going beyond industrial manufacturing as the primary source of income. Also, external factors such as wars, the global economy, natural disasters, and outside government interference can help or prohibit a developing nation fr ...
... major factors that decide whether a country will succeed in achieving and going beyond industrial manufacturing as the primary source of income. Also, external factors such as wars, the global economy, natural disasters, and outside government interference can help or prohibit a developing nation fr ...
NBER WORKING PAPER SERIES Diego A. Comin Working Paper 14509
... markup as a reasonable reduced form measure of several shocks that can be represented as markups. This paper is inspired by Hayashi and Prescott (2002) who show that a real business cycle model with TFP shocks can reproduce the Japanese ‡uctuations over the 1990s in output, consumption and investmen ...
... markup as a reasonable reduced form measure of several shocks that can be represented as markups. This paper is inspired by Hayashi and Prescott (2002) who show that a real business cycle model with TFP shocks can reproduce the Japanese ‡uctuations over the 1990s in output, consumption and investmen ...
Real business cycle theory
... The lasting contribution of real business cycle theory In response to these criticisms, real business cycle theorists have recently tried to make their models more realistic by allowing for various frictions and rigidities, including (in some cases) nominal rigidities. At the methodological level R ...
... The lasting contribution of real business cycle theory In response to these criticisms, real business cycle theorists have recently tried to make their models more realistic by allowing for various frictions and rigidities, including (in some cases) nominal rigidities. At the methodological level R ...
Exam #1 - People Pages
... 20. If the wages paid by firms in the steel industry go up, it is likely that a. steel producers will increase the quantity of steel they sell. b. steel producers will reduce the quantity of steel they sell. c. the change in wages can have no effect on the quantity of steel sold by the steel industr ...
... 20. If the wages paid by firms in the steel industry go up, it is likely that a. steel producers will increase the quantity of steel they sell. b. steel producers will reduce the quantity of steel they sell. c. the change in wages can have no effect on the quantity of steel sold by the steel industr ...
Exercise 6 (+additional question) in Mankiw:
... Problem 6D. An unskilled workers earns the marginal product of labor, whereas a skilled worker earns the marginal product of labor plus the marginal product of human capital. Using your answers to (a) and (b), find the ratio of the skilled wage to the unskilled wage. How does an increase in the amo ...
... Problem 6D. An unskilled workers earns the marginal product of labor, whereas a skilled worker earns the marginal product of labor plus the marginal product of human capital. Using your answers to (a) and (b), find the ratio of the skilled wage to the unskilled wage. How does an increase in the amo ...
View/Open
... ciently reflected in the income of the population living on wage-earning employment and social benefits. Despite favourable results in production and service activities, high labour efficiency and good financial situation of economic entities the remuneration growth rate in the enterprise sector was ...
... ciently reflected in the income of the population living on wage-earning employment and social benefits. Despite favourable results in production and service activities, high labour efficiency and good financial situation of economic entities the remuneration growth rate in the enterprise sector was ...
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.