AP Economics Test: Scarcity, Opportunity Cost, and
... 17. Mineral deposits, human capital, entrepreneurship, use of technology and machinery are all examples of a. Factors of production b. Superior and inferior goods c. Elements sometimes needed to move an existing company overseas d. Public goods e. Material wants and needs 18. The term ceteris paribu ...
... 17. Mineral deposits, human capital, entrepreneurship, use of technology and machinery are all examples of a. Factors of production b. Superior and inferior goods c. Elements sometimes needed to move an existing company overseas d. Public goods e. Material wants and needs 18. The term ceteris paribu ...
Saving and Investment in the Open Economy
... • Equilibrium can also be defined in terms of goods markets, one deficit equal to another’s surplus. • The model could be used to look at regions within a country or countries within the euro area. • It can also be used to analyse the effect of foreign developments on the home country. ...
... • Equilibrium can also be defined in terms of goods markets, one deficit equal to another’s surplus. • The model could be used to look at regions within a country or countries within the euro area. • It can also be used to analyse the effect of foreign developments on the home country. ...
Policy Strategies for Economic Development in Cuba
... (3) education and human capital; (4) population and health. These blocks represent four major engines of economic development that have been extensively investigated by the economic growth and development literature. The key novelty of our exercise is that, while most previous studies in this field ...
... (3) education and human capital; (4) population and health. These blocks represent four major engines of economic development that have been extensively investigated by the economic growth and development literature. The key novelty of our exercise is that, while most previous studies in this field ...
THE STRUCTURE AND DETERMINANTS OF EGYPT`S URBAN
... post quantities are, in fact, the outcome of voluntary market-clearing points, and economic agents on either side of the market were moving along their (conventional) demand and supply contours. To get around the problem, macro theorists and econometric model builders of industrial market economies ...
... post quantities are, in fact, the outcome of voluntary market-clearing points, and economic agents on either side of the market were moving along their (conventional) demand and supply contours. To get around the problem, macro theorists and econometric model builders of industrial market economies ...
Economic Growth and Business Cycles
... If we can understand the variables that cause economic growth, we may be able to enact policies to encourage such ...
... If we can understand the variables that cause economic growth, we may be able to enact policies to encourage such ...
Chapter_14_How_Economies_Grow_Nov_8_2006
... Chapter 14: How Economies Grow and Develop How do economies develop? How does the economic status of countries and the well-being of their peoples change over time? Most of the macroeconomic theory we have presented so far has assumed that we are talking about an advanced economy similar to the Unit ...
... Chapter 14: How Economies Grow and Develop How do economies develop? How does the economic status of countries and the well-being of their peoples change over time? Most of the macroeconomic theory we have presented so far has assumed that we are talking about an advanced economy similar to the Unit ...
April 2003 - Questions
... PART I - MULTIPLE CHOICE (2.5 marks each, for 70 marks) [These data apply for Questions 1 - 3.] The economy of Wisteria is self-sufficient; it consumes all of its own production. Wisteria has only two consumption goods (food and clothing) and one investment good (machines). Wisteria has no inventory ...
... PART I - MULTIPLE CHOICE (2.5 marks each, for 70 marks) [These data apply for Questions 1 - 3.] The economy of Wisteria is self-sufficient; it consumes all of its own production. Wisteria has only two consumption goods (food and clothing) and one investment good (machines). Wisteria has no inventory ...
Still Bullish, but Wondering: What Might Cause the Next Bear Market?
... With strong productivity growth, businesses don’t need higher prices to increase profits; indeed, we have seen profits improve recently almost entirely due to lower costs. Pushing higher prices on a weak consumer seems both a dangerous and unnecessary strategy. With a lowered cost base, even a modes ...
... With strong productivity growth, businesses don’t need higher prices to increase profits; indeed, we have seen profits improve recently almost entirely due to lower costs. Pushing higher prices on a weak consumer seems both a dangerous and unnecessary strategy. With a lowered cost base, even a modes ...
Is US economic growth over? - Centre for Economic Policy Research
... anchored by the three industrial revolutions. The first (IR1) centered in 1750-1830 from the inventions of the steam engine and cotton gin through the early railroads and steamships, but much of the impact of railroads on the American economy came later between 1850 and 1900. At a minimum it took 15 ...
... anchored by the three industrial revolutions. The first (IR1) centered in 1750-1830 from the inventions of the steam engine and cotton gin through the early railroads and steamships, but much of the impact of railroads on the American economy came later between 1850 and 1900. At a minimum it took 15 ...
Ch. 5 Notes
... • To examine the spending behavior of households, businesses, government units, and the foreign sector. • To identify the macroeconomy’s “leakages” and “injections” and show how they affect economic activity. • To introduce the multiplier effect. • To discuss how expectations affect the economy’s ou ...
... • To examine the spending behavior of households, businesses, government units, and the foreign sector. • To identify the macroeconomy’s “leakages” and “injections” and show how they affect economic activity. • To introduce the multiplier effect. • To discuss how expectations affect the economy’s ou ...
Section 4 FRQ Practice (College Board)
... (a) Draw a correctly labeled graph of long-run aggregate supply, short-run aggregate supply, and aggregate demand, and show each of the following. (i) Current equilibrium output and price level, labeled as Y1 and PL1 (ii) Full-employment output, labeled as Yf (d) The policy makers pursue a fiscal po ...
... (a) Draw a correctly labeled graph of long-run aggregate supply, short-run aggregate supply, and aggregate demand, and show each of the following. (i) Current equilibrium output and price level, labeled as Y1 and PL1 (ii) Full-employment output, labeled as Yf (d) The policy makers pursue a fiscal po ...
Title sentence - MADE – Ghana-Made
... The country has a high prime lending rate driven by large budget deficits and a central bank with limited autonomy when it comes to monetary policy setting and implementation Despite these structural weaknesses, local oil production is likely to reduce the risks of macroeconomic instability (due to ...
... The country has a high prime lending rate driven by large budget deficits and a central bank with limited autonomy when it comes to monetary policy setting and implementation Despite these structural weaknesses, local oil production is likely to reduce the risks of macroeconomic instability (due to ...
Chapter 12 The Money Market and the Interest Rate
... with a movement along the money demand curve. An increase in the demand for money will shift the money demand curve to the right, from Md1 to Md2. At the current interest rate, r1, the quantity of money demanded increases from Q1 to Q2, creating an excess demand for money. The excess demand causes t ...
... with a movement along the money demand curve. An increase in the demand for money will shift the money demand curve to the right, from Md1 to Md2. At the current interest rate, r1, the quantity of money demanded increases from Q1 to Q2, creating an excess demand for money. The excess demand causes t ...
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.