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JA Economics - Junior Achievement of Arizona
... Explain why international trade is considered a two-way street Describe how imports and exports depend on each other Explain how absolute and comparative advantages are different Explain why productivity is important in international trade Identify the arguments for and against trade barriers Descri ...
... Explain why international trade is considered a two-way street Describe how imports and exports depend on each other Explain how absolute and comparative advantages are different Explain why productivity is important in international trade Identify the arguments for and against trade barriers Descri ...
Unemployment - theincomparable
... employ those who lose their jobs in the manufacturing sector. This has happened to a certain extent, but the skills required in the service sector are often different to those required in the manufacturing sector. Occupational mob has been improved through government training programmes, in particul ...
... employ those who lose their jobs in the manufacturing sector. This has happened to a certain extent, but the skills required in the service sector are often different to those required in the manufacturing sector. Occupational mob has been improved through government training programmes, in particul ...
Questions for FINAL
... the steady state level of income per capita? 105. In the Solow model, how does the increase in the rate of population growth affect the steady state level of growth of income per capita? 106. How would you define exogenous growth models + give an example. 107. How would you define endogenous growth ...
... the steady state level of income per capita? 105. In the Solow model, how does the increase in the rate of population growth affect the steady state level of growth of income per capita? 106. How would you define exogenous growth models + give an example. 107. How would you define endogenous growth ...
Homo Oeconomicus - Bangor University
... Phelps’ critique can only deal in commodities whose characteristics are known, making possible market transactions. Information has properties that make it an inappropriate item for the market (Arrow 1962). The financial crunch is a telling example of the reliance on markets to get around the inform ...
... Phelps’ critique can only deal in commodities whose characteristics are known, making possible market transactions. Information has properties that make it an inappropriate item for the market (Arrow 1962). The financial crunch is a telling example of the reliance on markets to get around the inform ...
Overproduction not Financial Collapse is the Heart of
... bad it is because they have over-estimated the strength of the real economy and failed to take into account the extent of its dependence upon a buildup of debt that relied on asset price bubbles. In the U.S., during the recent business cycle of the years 2001-2007, GDP growth was by far the slowest ...
... bad it is because they have over-estimated the strength of the real economy and failed to take into account the extent of its dependence upon a buildup of debt that relied on asset price bubbles. In the U.S., during the recent business cycle of the years 2001-2007, GDP growth was by far the slowest ...
Causes of Inflation
... supply side policies include education to make workers more attractive to employers. Supply side reforms also increase long-term growth. This increased supply of goods and services requires more workers, increasing employment. It is argued that supply side policies, which include cutting taxes on bu ...
... supply side policies include education to make workers more attractive to employers. Supply side reforms also increase long-term growth. This increased supply of goods and services requires more workers, increasing employment. It is argued that supply side policies, which include cutting taxes on bu ...
ISLM: Part I: The Real Sector
... In But particular, investment S =also – aThat +depends, (1is,– “S b)Y,=ifwhere a> minor 0 and extent, 0
... In But particular, investment S =also – aThat +depends, (1is,– “S b)Y,=ifwhere a> minor 0 and extent, 0
The contemporary China resources boom
... and mine development decisions are taken. Once the investment has been committed, the owner of a mine has an economic interest in continuing production from it so long as the price of the product covers recurrent costs, even if it makes little contribution to recoupment of the cost of capital expend ...
... and mine development decisions are taken. Once the investment has been committed, the owner of a mine has an economic interest in continuing production from it so long as the price of the product covers recurrent costs, even if it makes little contribution to recoupment of the cost of capital expend ...
The Modified General Equilibrium Approach to Keynesian Economics
... Clower maintains that the demand functions of orthodox theory do not provide relevant market signals, because they do not distinguish between effective and notional demands by incorporating into the theory the constraint effective current receipts may place upon notional current consumption. Put sim ...
... Clower maintains that the demand functions of orthodox theory do not provide relevant market signals, because they do not distinguish between effective and notional demands by incorporating into the theory the constraint effective current receipts may place upon notional current consumption. Put sim ...
Mankiw 5e Chapter 3
... Correct. The answer is B. National saving (the supply of loanable funds) decreases since the reduction in consumption caused by the tax increase is not large enough to offset the increase in government spending. This means that the interest rate must rise so that investment (the demand for loanable ...
... Correct. The answer is B. National saving (the supply of loanable funds) decreases since the reduction in consumption caused by the tax increase is not large enough to offset the increase in government spending. This means that the interest rate must rise so that investment (the demand for loanable ...
Micro and Macroeconomics Review Questions
... To calculate the unemployment rate an economist would need the total number of unemployed people and which other number? A the inflation rate B the number of people in the labor force C the total number of discouraged workers D the total number of transactions in the resource market ...
... To calculate the unemployment rate an economist would need the total number of unemployed people and which other number? A the inflation rate B the number of people in the labor force C the total number of discouraged workers D the total number of transactions in the resource market ...
1. All of the following would tend to make actual deposit creation
... a. increase reserves by $90, deposits by $100, and make no change on loans. b. increase reserves by $100, loans by $900, and deposits by $1,000. c. reduce reserves by $90, loans by $90, and deposits by $100. d. reduce reserves by $100, loans by $900, and deposits by $1,000. e. reduce reserves by $10 ...
... a. increase reserves by $90, deposits by $100, and make no change on loans. b. increase reserves by $100, loans by $900, and deposits by $1,000. c. reduce reserves by $90, loans by $90, and deposits by $100. d. reduce reserves by $100, loans by $900, and deposits by $1,000. e. reduce reserves by $10 ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... segments of the secondary sector as there is a great scope for them to grow there as because of the market availability of the products produced in the traditional and small scale industries sub-sectors even outside the state economy. The policy makers have to frame the policies for human capital de ...
... segments of the secondary sector as there is a great scope for them to grow there as because of the market availability of the products produced in the traditional and small scale industries sub-sectors even outside the state economy. The policy makers have to frame the policies for human capital de ...
Outline of Lecture 1 – Basic Economics Concepts
... Make it clear that the microeconomic variables of price and quantity can be aggregated into a price level (either the GDP deflator or the Consumer Price Index) and total output (real GDP). ...
... Make it clear that the microeconomic variables of price and quantity can be aggregated into a price level (either the GDP deflator or the Consumer Price Index) and total output (real GDP). ...
Countries can only grow fast if their exports grow fast
... for labour); input prices or raw material prices increase (land payment, this will also include oil price shocks and real exchange rate changes); interest rate changes (payment for capital); or the profit margins get larger (entrepreneurship payment, includes the increase in the monopoly power). Dem ...
... for labour); input prices or raw material prices increase (land payment, this will also include oil price shocks and real exchange rate changes); interest rate changes (payment for capital); or the profit margins get larger (entrepreneurship payment, includes the increase in the monopoly power). Dem ...
Aggregate Supply
... consumption (C), investment spending (I), government spending (G), and net exports (X-IM or NX) The quantity of goods and services demanded at any given price level is aggregate ...
... consumption (C), investment spending (I), government spending (G), and net exports (X-IM or NX) The quantity of goods and services demanded at any given price level is aggregate ...
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.