Competitiveness of regions - E-SGH
... Both countries in different stages of development First stage: factor driven economy; countries compete based on factor endowments and companies compete on the base of price, low productivity reflects in low wages Second stage: efficiency driven economy; higher productivity and wages, increase of pr ...
... Both countries in different stages of development First stage: factor driven economy; countries compete based on factor endowments and companies compete on the base of price, low productivity reflects in low wages Second stage: efficiency driven economy; higher productivity and wages, increase of pr ...
The Aggregate Demand Curve
... A rise in real interest rates (nominal interest rates corrected for inflation) not due to price level changes Tax increases ...
... A rise in real interest rates (nominal interest rates corrected for inflation) not due to price level changes Tax increases ...
The British Economy Between the Wars
... again as large as those of the United States. More international trade was invoiced in sterling than in any other currency. Foreign producers and merchants held bank deposits in London to settle their accounts with British importers and exporters and with one another. London’s financial district, th ...
... again as large as those of the United States. More international trade was invoiced in sterling than in any other currency. Foreign producers and merchants held bank deposits in London to settle their accounts with British importers and exporters and with one another. London’s financial district, th ...
Chapter 1 The Electricity Sector Leads Energy Market Integration in
... 7.36% (gas), 4.82% (paper & paper products), 4.73% (chemicals and chemical products) and 4.30% (sports and entertainment). The price increase in all other sectors would be less than 4%. These increases in prices would lead to an increase in the CPI (Consumer Price Index) of 4.2%. Lower income earne ...
... 7.36% (gas), 4.82% (paper & paper products), 4.73% (chemicals and chemical products) and 4.30% (sports and entertainment). The price increase in all other sectors would be less than 4%. These increases in prices would lead to an increase in the CPI (Consumer Price Index) of 4.2%. Lower income earne ...
Alfred Marshall Done By Archer JeanJ CathyJ
... cross each other and intersect at a point, also known as the point of equilibrium. More specifically, the term equilibrium refers to the state when there is an efficient distribution of goods because the amount being supplied by the producers equals to the amount being demanded by the consumers. [4] ...
... cross each other and intersect at a point, also known as the point of equilibrium. More specifically, the term equilibrium refers to the state when there is an efficient distribution of goods because the amount being supplied by the producers equals to the amount being demanded by the consumers. [4] ...
ch05 - Whitman People
... Finally, people in other countries purchase goods and services produced domestically (exports). Note: Although not shown in this diagram, firms and governments also purchase imports. © 2014 Pearson Education, Inc. ...
... Finally, people in other countries purchase goods and services produced domestically (exports). Note: Although not shown in this diagram, firms and governments also purchase imports. © 2014 Pearson Education, Inc. ...
PDF
... The two dimensional migration shares array (age cohorts and education level) controls the total migration (in and out) of working age people in response to changes in regional labour demand and quality of life. Migrants are assumed to migrate as families including both youth and elderly members. The ...
... The two dimensional migration shares array (age cohorts and education level) controls the total migration (in and out) of working age people in response to changes in regional labour demand and quality of life. Migrants are assumed to migrate as families including both youth and elderly members. The ...
3.1 Measuring National Income The Circular Flow of Income
... adjusted for inflation and is thus a more accurate measurement (so that Price Levels do not affect the measurement of economic growth). Economic development is the increase in wealth or welfare of the people of the economy. Generally it involves creating sustainable jobs and incomes as well as (for ...
... adjusted for inflation and is thus a more accurate measurement (so that Price Levels do not affect the measurement of economic growth). Economic development is the increase in wealth or welfare of the people of the economy. Generally it involves creating sustainable jobs and incomes as well as (for ...
The Art and Science of Economics
... expectation of a future return Since the return is in the future, investors must estimate how much a particular investment will yield in all years of its productive life ...
... expectation of a future return Since the return is in the future, investors must estimate how much a particular investment will yield in all years of its productive life ...
Fig.2.7(i) Investment Rate - GDCF as a proportion of GDPmp Fig.2.7
... India’s external trade (merchandise exports plus imports) as a proportion of GDP grew from 18.6 per cent in 1997-98 to 38.9 per cent in 2008-09. 2.31 In the last five years, the gross domestic savings as a proportion of GDP has increased from 26.3 per cent in 2002-03 to 37.7 per cent in 200708. Duri ...
... India’s external trade (merchandise exports plus imports) as a proportion of GDP grew from 18.6 per cent in 1997-98 to 38.9 per cent in 2008-09. 2.31 In the last five years, the gross domestic savings as a proportion of GDP has increased from 26.3 per cent in 2002-03 to 37.7 per cent in 200708. Duri ...
Minerals Make Innovation - Idaho Mining Association
... CAT scans contain a variety of minerals, including tungsten, copper, lead, silver, chlorine, aluminum and gold. Platinum is used in advanced electronics, fuel cells and in pollution control devices for cars. ...
... CAT scans contain a variety of minerals, including tungsten, copper, lead, silver, chlorine, aluminum and gold. Platinum is used in advanced electronics, fuel cells and in pollution control devices for cars. ...
Economic Growth
... Growth Theories and Policies Stimulate Research and Development •Because the fruits of basic research and development efforts can be used by everyone, not all the benefit of a discovery falls to the initial discoverer. •So the market might allocate too few resources to research and development. •G ...
... Growth Theories and Policies Stimulate Research and Development •Because the fruits of basic research and development efforts can be used by everyone, not all the benefit of a discovery falls to the initial discoverer. •So the market might allocate too few resources to research and development. •G ...
Macroeconomics
... Economists is necessary. Since the course is taught in English and students also study for Russian degree in Economics, the knowledge of Russian terminology is necessary. In turn, Macroeconomics-1 is a pre-requisite for the third-year course on Macroeconomics-2 as well as Monetary Economics, Interna ...
... Economists is necessary. Since the course is taught in English and students also study for Russian degree in Economics, the knowledge of Russian terminology is necessary. In turn, Macroeconomics-1 is a pre-requisite for the third-year course on Macroeconomics-2 as well as Monetary Economics, Interna ...
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... into in Poland is product market regulation. Despite successive privatisation programmes launched in 2008, the State still plays an important role in the economy. There is no economic reason why the government should be involved in potentially competitive segments of network industries, in the finan ...
... into in Poland is product market regulation. Despite successive privatisation programmes launched in 2008, the State still plays an important role in the economy. There is no economic reason why the government should be involved in potentially competitive segments of network industries, in the finan ...
AP Macro Study Guide - Phoenix Union High School District
... states that the amount of a good which has to be sacrificed for each additional unit of another good is more than was sacrificed for the previous unit. The rationale for this law is that some economic resources are not completely adaptable to alternative uses, so the resources will yield less of one ...
... states that the amount of a good which has to be sacrificed for each additional unit of another good is more than was sacrificed for the previous unit. The rationale for this law is that some economic resources are not completely adaptable to alternative uses, so the resources will yield less of one ...
Page 122 (4,11,12,13) Page 144 (2, 4, 6, 9, 10,11) 6‑4 What is the
... The basic determinants of investment are the expected rate of return (net profit) that businesses hope to realize from investment spending, and the real rate of interest. When the real interest rate rises, investment decreases; and when the real interest rate drops, investment increases—other things ...
... The basic determinants of investment are the expected rate of return (net profit) that businesses hope to realize from investment spending, and the real rate of interest. When the real interest rate rises, investment decreases; and when the real interest rate drops, investment increases—other things ...
Chapter 22
... 3- Speculative Motive: The most important contribution of Keynes’s theory is that he added the idea that since money is a store of wealth and since wealth is related to income, then people do hold money for speculative motive. Keynes divided the assets people use to store wealth into two categories ...
... 3- Speculative Motive: The most important contribution of Keynes’s theory is that he added the idea that since money is a store of wealth and since wealth is related to income, then people do hold money for speculative motive. Keynes divided the assets people use to store wealth into two categories ...
Answer to Quiz #4
... b. (1 point) What is this economy’s consumption function with respect to Y? Answer: From the savings function we can write the consumption function with respect to disposable income (Y – T): C = 20 + .8(Y – T). But the question asks for the consumption function with respect to Y, so this implies tha ...
... b. (1 point) What is this economy’s consumption function with respect to Y? Answer: From the savings function we can write the consumption function with respect to disposable income (Y – T): C = 20 + .8(Y – T). But the question asks for the consumption function with respect to Y, so this implies tha ...
T D R C
... productivity was possibly higher than that of Spain herself. Output per capita (in 1800) was around half that of the US, and Mexico’s economy was less agricultural, with an advanced mining industry and a significant manufacturing sector. The value of exports was similar to that of Mexico’s northern ...
... productivity was possibly higher than that of Spain herself. Output per capita (in 1800) was around half that of the US, and Mexico’s economy was less agricultural, with an advanced mining industry and a significant manufacturing sector. The value of exports was similar to that of Mexico’s northern ...
chapter overview
... volume of all goods and services produced (real output)]. c. Monetarists say that velocity, V, is stable, meaning that the factors altering velocity change gradually and predictably. People and firms have a stable pattern to holding money. d. If velocity is stable, the equation of exchange suggests ...
... volume of all goods and services produced (real output)]. c. Monetarists say that velocity, V, is stable, meaning that the factors altering velocity change gradually and predictably. People and firms have a stable pattern to holding money. d. If velocity is stable, the equation of exchange suggests ...
The Service Revolution
... productivity growth in the sector. The figure shows that labor productivity growth in rich countries has been higher in services than in industry for the last thirty years, and that it remains positive. That implies that the global technology frontier for services is still shifting out, while that f ...
... productivity growth in the sector. The figure shows that labor productivity growth in rich countries has been higher in services than in industry for the last thirty years, and that it remains positive. That implies that the global technology frontier for services is still shifting out, while that f ...
CHAPTER 11 MONETARY AND FISCAL POLICY Solutions to the
... composition of GDP. Some degree of crowding out will always occur as long as the LM-curve is upward sloping, that is, in all cases except the liquidity trap. The steeper the LM-curve is, the greater the degree of crowding out. This implies that if the LM-curve is steep monetary policy will be more e ...
... composition of GDP. Some degree of crowding out will always occur as long as the LM-curve is upward sloping, that is, in all cases except the liquidity trap. The steeper the LM-curve is, the greater the degree of crowding out. This implies that if the LM-curve is steep monetary policy will be more e ...
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.