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Gross Domestic Product
... Main Idea: Capital deepening is an important source of growth in modern economics. 1. How does capital deepening increase output per worker? 2. How is human capital deepened? Main Idea: The rate of saving and investment affects the economy. 3. What happens when saving rises? 4. How does increased in ...
... Main Idea: Capital deepening is an important source of growth in modern economics. 1. How does capital deepening increase output per worker? 2. How is human capital deepened? Main Idea: The rate of saving and investment affects the economy. 3. What happens when saving rises? 4. How does increased in ...
Economic outlook FIG. 1 FIG. 2
... significant divergence in fortunes at the sectoral level. The services sector has continued to benefit from the strength of consumer spending and accounted for all of the economic growth in Q4. By contrast, industrial production contracted by 0.5%, heavily influenced by the continued poor performanc ...
... significant divergence in fortunes at the sectoral level. The services sector has continued to benefit from the strength of consumer spending and accounted for all of the economic growth in Q4. By contrast, industrial production contracted by 0.5%, heavily influenced by the continued poor performanc ...
Business and Economics
... Economically Developed Countries). The amounts of money that these countries have to pay back is so great that it keeps them undeveloped. However, is the debt was wiped, they could spend the money on much more worthwhile things such as education and their health services. There are also other method ...
... Economically Developed Countries). The amounts of money that these countries have to pay back is so great that it keeps them undeveloped. However, is the debt was wiped, they could spend the money on much more worthwhile things such as education and their health services. There are also other method ...
People’s Republic of China
... In 2012, China’s economic growth is forecast to slow to around 8.6% as global economic uncertainty rises. Lower growth projections also take into consideration the Chinese government plans to move away from emphasizing quantitative GDP growth to improving the quality of growth, in accordance to the ...
... In 2012, China’s economic growth is forecast to slow to around 8.6% as global economic uncertainty rises. Lower growth projections also take into consideration the Chinese government plans to move away from emphasizing quantitative GDP growth to improving the quality of growth, in accordance to the ...
California Standards for the Teaching of Social Studies
... 1. Examine the causal relationship between scarcity and the need for choices. 2. Explain opportunity cost and marginal benefit and marginal cost. 3. Identify the difference between monetary and nonmonetary incentives and how changes in incentives cause changes in behavior. 4. Evaluate the role of pr ...
... 1. Examine the causal relationship between scarcity and the need for choices. 2. Explain opportunity cost and marginal benefit and marginal cost. 3. Identify the difference between monetary and nonmonetary incentives and how changes in incentives cause changes in behavior. 4. Evaluate the role of pr ...
Looking to the US* C.P. Chandrasekhar and Jayati Ghosh
... were ‘temporary’ in nature. Prime among them are a fall in exports because of a strengthening of the US dollar vis-à-vis other currencies and worsened agricultural performance due to poor weather conditions. The first, of these can, of course be more permanent than expected. But, overall, argue the ...
... were ‘temporary’ in nature. Prime among them are a fall in exports because of a strengthening of the US dollar vis-à-vis other currencies and worsened agricultural performance due to poor weather conditions. The first, of these can, of course be more permanent than expected. But, overall, argue the ...
Answers to pause for thought questions
... demand for imports (a withdrawal). The effect will therefore be to dampen the rise in aggregate demand. Also, the unpredictability of international financial flows makes the effects of fiscal (and monetary policy) changes less predictable. Note that if there had been a policy of maintaining interest ...
... demand for imports (a withdrawal). The effect will therefore be to dampen the rise in aggregate demand. Also, the unpredictability of international financial flows makes the effects of fiscal (and monetary policy) changes less predictable. Note that if there had been a policy of maintaining interest ...
Looking to the US*
... According to some, however, there are still grounds for optimism. One is the view that the factors responsible for driving down growth during the two quarters ending March 2015 were ‘temporary’ in nature. Prime among them are a fall in exports because of a strengthening of the US dollar vis-à-vis o ...
... According to some, however, there are still grounds for optimism. One is the view that the factors responsible for driving down growth during the two quarters ending March 2015 were ‘temporary’ in nature. Prime among them are a fall in exports because of a strengthening of the US dollar vis-à-vis o ...
Economic Crises - University of Texas at Austin
... Along with laws and force,business could go on strike, i.e., refuse to invest For example in period of rapid growth, high profits and high investment, labor markets get tight, workers get higher wages, rate of profit fills and busines cuts back on investment Thus a downturn as economic activity dimi ...
... Along with laws and force,business could go on strike, i.e., refuse to invest For example in period of rapid growth, high profits and high investment, labor markets get tight, workers get higher wages, rate of profit fills and busines cuts back on investment Thus a downturn as economic activity dimi ...
Sample questions
... spread into the economy of Mexico, a major US trading partner, since the US consumers will by fewer normal goods, including goods manufactured in Mexico, and hence Mexican exports to the US will decline. Recession is an economy wide problem, and hence all businesses will be adversely affected by a r ...
... spread into the economy of Mexico, a major US trading partner, since the US consumers will by fewer normal goods, including goods manufactured in Mexico, and hence Mexican exports to the US will decline. Recession is an economy wide problem, and hence all businesses will be adversely affected by a r ...
Underdevelopment: A Vicious Cycle
... economic growth but not enough to change the structure of their dual economies. Low Productivity: typical of dual economies (output of goods and services in relation to the number of work hours used to produce them) Low productivity results in low income and little savings because not much extra is ...
... economic growth but not enough to change the structure of their dual economies. Low Productivity: typical of dual economies (output of goods and services in relation to the number of work hours used to produce them) Low productivity results in low income and little savings because not much extra is ...
Presentation to the Sacramento Rotary Club Sacramento Convention Center, Sacramento, California
... And consumer spending has slowed from its frenzied pace of the last several ...
... And consumer spending has slowed from its frenzied pace of the last several ...
The State of the Global Economy: an Agenda for Job Creation
... • Moved people from rural to urban sector • Provided them with training • Especially in conjunction with GI bill ...
... • Moved people from rural to urban sector • Provided them with training • Especially in conjunction with GI bill ...
Expanding or Curtailing Government Spending
... rises, income and profits of suppliers and firms increase, and they, too, can hire more employees to produce the goods and services ordered by the government. The unemployed, who have now found work, whether in the public sector or the business sector, enjoy an increase in income, and their demand a ...
... rises, income and profits of suppliers and firms increase, and they, too, can hire more employees to produce the goods and services ordered by the government. The unemployed, who have now found work, whether in the public sector or the business sector, enjoy an increase in income, and their demand a ...
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... their government finances under control. The smallest government deficits (less than 1 % of GDP on average during the period 1994 to 1999) were registered by Croatia, Slovenia, and Estonia. Estonia also did best in increasing its exports, export growth averaging 20%. Exports of the other CEE countri ...
... their government finances under control. The smallest government deficits (less than 1 % of GDP on average during the period 1994 to 1999) were registered by Croatia, Slovenia, and Estonia. Estonia also did best in increasing its exports, export growth averaging 20%. Exports of the other CEE countri ...
Long Wave, Globalization and Technological Salvation - Tsang Shu-ki
... profitability crisis would occur if the increasingly huge amount of capital funds couldn’t realize their planned profits. A pre-requisite for realization is that people buy the goods and services they generate. But when people are progressively impoverished, in relative or even absolute terms, and t ...
... profitability crisis would occur if the increasingly huge amount of capital funds couldn’t realize their planned profits. A pre-requisite for realization is that people buy the goods and services they generate. But when people are progressively impoverished, in relative or even absolute terms, and t ...
American Free Enterprise
... a. Require firms to provide full information about their products b. Ex: food labels c. Ex: Surgeon General warning d. Ex: energy efficiency labels C. Protecting consumers’ safety and well-being ...
... a. Require firms to provide full information about their products b. Ex: food labels c. Ex: Surgeon General warning d. Ex: energy efficiency labels C. Protecting consumers’ safety and well-being ...
Impact of economic restructuring
... New challenges to restructuring (1) • Technological advances and liberalization of controls speed up change in the world • Global business opportunities increasing but so is competition • Rapid development in the Mainland – new opportunities and threats – restructuring in the Mainland itself ...
... New challenges to restructuring (1) • Technological advances and liberalization of controls speed up change in the world • Global business opportunities increasing but so is competition • Rapid development in the Mainland – new opportunities and threats – restructuring in the Mainland itself ...
Skidelsky comment - The Wincott Foundation
... impossible, restore a full gold standard, ie 100% gold reserves against currency notes. This was never Milton Friedman’s position. Secondly, I am puzzled about how the system would work in practice. Would I be able to take out a loan from my bank? What does it mean to say that ‘credit would be …oper ...
... impossible, restore a full gold standard, ie 100% gold reserves against currency notes. This was never Milton Friedman’s position. Secondly, I am puzzled about how the system would work in practice. Would I be able to take out a loan from my bank? What does it mean to say that ‘credit would be …oper ...
Then divide by the total population of each country to get per capita
... country in a given year, both inside and outside a country’s territory ...
... country in a given year, both inside and outside a country’s territory ...
What is Macroeconomics? - The Bronx High School of Science
... • Monetary Policy • Income Policies – direct attempt by the govt to control prices and wages • Supply-Side Policies – use tax system to increase production – trickle down economics ...
... • Monetary Policy • Income Policies – direct attempt by the govt to control prices and wages • Supply-Side Policies – use tax system to increase production – trickle down economics ...
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.