Macroeconomic Equilibrium File
... economy is not sufficient to buy up the potential output that could be produced by the economy at the full employment level of output. This may also be referred to as an output gap. It is not easily measureable. However, it could be shown as the distance from a point inside a country’s hypothetical ...
... economy is not sufficient to buy up the potential output that could be produced by the economy at the full employment level of output. This may also be referred to as an output gap. It is not easily measureable. However, it could be shown as the distance from a point inside a country’s hypothetical ...
Aggregate Demand
... the relationship between real GDP supplied and the price level when the money wage rate, the prices of other resources, and potential GDP remain constant. A rise in the price level with no change in the money wage rate and other factor prices increases the quantity of real GDP supplied. ...
... the relationship between real GDP supplied and the price level when the money wage rate, the prices of other resources, and potential GDP remain constant. A rise in the price level with no change in the money wage rate and other factor prices increases the quantity of real GDP supplied. ...
The Economic Impact of Tourism. An Input
... Tourism, a large, complex and fragmented industry, which is still very difficult to define and measure, is a key component of the service economy. Tourism, which has expanded dramatically over the past 30 years, looks to continue its growing as societies become more mobile and prosperous. Is the tou ...
... Tourism, a large, complex and fragmented industry, which is still very difficult to define and measure, is a key component of the service economy. Tourism, which has expanded dramatically over the past 30 years, looks to continue its growing as societies become more mobile and prosperous. Is the tou ...
Growth, Development and Land-Use in a Simple Agrarian
... activities. First, agricultural land and labour are tied up in production of agricultural products determining the current flow of consumption. Secondly, labour is used for converting the natural resource base in the form of wilderness, land into agricultural land. It is demonstrated that the econom ...
... activities. First, agricultural land and labour are tied up in production of agricultural products determining the current flow of consumption. Secondly, labour is used for converting the natural resource base in the form of wilderness, land into agricultural land. It is demonstrated that the econom ...
View/Open
... global capital flows (e.g., converting US consumption into Chinese savings which are then recycled back into U.S. financial markets), together with households’ response to appreciating asset values, and bankers’ eagerness to accommodate increasing demand for credit, can be argued to have facilitate ...
... global capital flows (e.g., converting US consumption into Chinese savings which are then recycled back into U.S. financial markets), together with households’ response to appreciating asset values, and bankers’ eagerness to accommodate increasing demand for credit, can be argued to have facilitate ...
Challenges to Production Base Diversification in Saudi Arabia*
... intensive production factors. Most of the output of this growth is represented in higher real estate prices, accompanied by an unjustified increase in population due to huge import of foreign labor that does not generate human capital accumulation, lead to technological development and industrial tr ...
... intensive production factors. Most of the output of this growth is represented in higher real estate prices, accompanied by an unjustified increase in population due to huge import of foreign labor that does not generate human capital accumulation, lead to technological development and industrial tr ...
Part and/or Chapter Number and Title
... Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved ...
... Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved ...
Chapter 11
... property rights, are essential • The social status accorded to productive people as opposed to those who are merely rich or well educated • Incentives to effort provided by the taxation and welfare systems ...
... property rights, are essential • The social status accorded to productive people as opposed to those who are merely rich or well educated • Incentives to effort provided by the taxation and welfare systems ...
Croatian Economic Outlook - Ekonomski institut, Zagreb
... countries (Turkey, Croatia, Macedonia) for the most part exhibit competitive advantages over other countries of South Eastern Europe (Table B1). The Estonian economy is perceived as strongly competitive across all studies, while Ukraine, Bosnia and Herzegovina and Albania are assessed to have the le ...
... countries (Turkey, Croatia, Macedonia) for the most part exhibit competitive advantages over other countries of South Eastern Europe (Table B1). The Estonian economy is perceived as strongly competitive across all studies, while Ukraine, Bosnia and Herzegovina and Albania are assessed to have the le ...
Extra Practice on the Multiplier, Consumption and Investment KEY
... are now profitable to producers, whether they are financed through borrowing or retained earnings. As a result, producers will reduce the amount of planned investment spending. c. A sharp increase in the economy’s growth rate of real GDP …leads to a higher level of planned investment spending by pro ...
... are now profitable to producers, whether they are financed through borrowing or retained earnings. As a result, producers will reduce the amount of planned investment spending. c. A sharp increase in the economy’s growth rate of real GDP …leads to a higher level of planned investment spending by pro ...
Interdependence, Exchange Rate Flexibility, And National Economies
... country might temporarily increase its demands for goods and services. In an open economy, at least part of that new demand would find an outlet in purchases from overseas. This would put additional downward pressure on the exchange rate, result in a further drop in international reserves, and speed ...
... country might temporarily increase its demands for goods and services. In an open economy, at least part of that new demand would find an outlet in purchases from overseas. This would put additional downward pressure on the exchange rate, result in a further drop in international reserves, and speed ...
PDF
... undermined the basis for mainstream macroeconomics and brought renewed attention to various forms of Keynesian analysis and policy previously regarded as outdated. There is a close complementarity between new Keynesian and ecological perspectives. While older Keynesian analysis was oriented towards ...
... undermined the basis for mainstream macroeconomics and brought renewed attention to various forms of Keynesian analysis and policy previously regarded as outdated. There is a close complementarity between new Keynesian and ecological perspectives. While older Keynesian analysis was oriented towards ...
Paper (marking scheme)
... scheme has been correctly applied to any piece of candidate work. Marking schemes are working documents. While a draft marking scheme is prepared in advance of the examination, the scheme is not finalised until examiners have applied it to candidates’ work and the feedback from all examiners has bee ...
... scheme has been correctly applied to any piece of candidate work. Marking schemes are working documents. While a draft marking scheme is prepared in advance of the examination, the scheme is not finalised until examiners have applied it to candidates’ work and the feedback from all examiners has bee ...
Study questions for Macroeconomics: Let these questions direct
... I am (generally speaking) very pleased with your hard work and positive results on the first exam. Preparing for the second exam is going to take another big (even bigger?) effort! Even though it is more than two weeks away, most of you need to get serious NOW about your preparations. I am going to ...
... I am (generally speaking) very pleased with your hard work and positive results on the first exam. Preparing for the second exam is going to take another big (even bigger?) effort! Even though it is more than two weeks away, most of you need to get serious NOW about your preparations. I am going to ...
Working
... in the OECD countries. A new functional form for relating employment shares by sector to Gross Domestic Product is presented and its predictive ...
... in the OECD countries. A new functional form for relating employment shares by sector to Gross Domestic Product is presented and its predictive ...
How Does Age Affect Spending Habits and
... payments, personal insurance, and pensions. While this group spends more on average than the other two age groups, they tend to spread their income more evenly over expenditures. These findings are consistent with previous notions on consumer spending in the US. One of the issues that this survey at ...
... payments, personal insurance, and pensions. While this group spends more on average than the other two age groups, they tend to spread their income more evenly over expenditures. These findings are consistent with previous notions on consumer spending in the US. One of the issues that this survey at ...
Why Income Inequality Matters
... an equilibrium may feature a positive output gap and unemployment. The rest of the results comes out of comparative statics exercises, which demonstrate that the reaction of equilibrium employment to economic shocks depends critically on whether the economy is demand or supply constrained. If the ec ...
... an equilibrium may feature a positive output gap and unemployment. The rest of the results comes out of comparative statics exercises, which demonstrate that the reaction of equilibrium employment to economic shocks depends critically on whether the economy is demand or supply constrained. If the ec ...
AP® Economics - AP Central
... saved, so savings rises. But a higher real interest rate decreases the longrun profitability of every dollar invested. This is because most investment projects require the firm to borrow funds from a bank, and even if a firm does not have to borrow funds to finance projects, higher real interest rat ...
... saved, so savings rises. But a higher real interest rate decreases the longrun profitability of every dollar invested. This is because most investment projects require the firm to borrow funds from a bank, and even if a firm does not have to borrow funds to finance projects, higher real interest rat ...
GCC Real Estate Market
... spending could provide a welcome boost for PPPs in Oman’s real estate market, according to Cluttons. The measures set in place by Oman’s government, such as plans to remove utility subsidies, could also lead to a rise in the number of PPPs by enticing additional foreign investment into Oman. PPPs of ...
... spending could provide a welcome boost for PPPs in Oman’s real estate market, according to Cluttons. The measures set in place by Oman’s government, such as plans to remove utility subsidies, could also lead to a rise in the number of PPPs by enticing additional foreign investment into Oman. PPPs of ...
Global And U.S. Context - The Province of British Columbia
... Employer Succession Challenge • Retirement of baby boomers will create business owner shortages that threaten the very existence of SMEs—so integral to the survival of rural B.C. • Today, 7 of 10 small business are owned by baby boomers; more than half are age 55+ and hope to retire within 5 years. ...
... Employer Succession Challenge • Retirement of baby boomers will create business owner shortages that threaten the very existence of SMEs—so integral to the survival of rural B.C. • Today, 7 of 10 small business are owned by baby boomers; more than half are age 55+ and hope to retire within 5 years. ...
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.