Sample
... A) Gross National Product B) Gross Output C) Gross Domestic Product D) Gross Value Added Answer: A Difficulty: Easy 36) With regard to Gross National Product per capita, which of the following categories of countries is considered to be developed? A) lower-middle income B) high-income C) low-income ...
... A) Gross National Product B) Gross Output C) Gross Domestic Product D) Gross Value Added Answer: A Difficulty: Easy 36) With regard to Gross National Product per capita, which of the following categories of countries is considered to be developed? A) lower-middle income B) high-income C) low-income ...
Expansionary fiscal contraction - University of British Columbia
... ative impact of government spending on output becomes larger, the higher the share of government spending in output. In other words, when the share of government spending in GDP is very high, government spending cutbacks may have substantially positive effects on output. Two features of the model are ...
... ative impact of government spending on output becomes larger, the higher the share of government spending in output. In other words, when the share of government spending in GDP is very high, government spending cutbacks may have substantially positive effects on output. Two features of the model are ...
Chapter 3: BENEFITS AND COSTS, SUPPLY AND DEMAND
... the benefits and costs of any action. Economic actions, including environmental actions, have two sides or trade-offs: on the one side they create value, and on the other side they encounter costs. We have to measure these costs and benefits and then evaluate the trade-offs that occur from every act ...
... the benefits and costs of any action. Economic actions, including environmental actions, have two sides or trade-offs: on the one side they create value, and on the other side they encounter costs. We have to measure these costs and benefits and then evaluate the trade-offs that occur from every act ...
Real GDP per capita since 1870
... There are many problems associated with the theory of long-term economic growth. The study of Galor (2005) describes the evolution of income per capita since the epoch of Malthusian stagnation and discusses the process, which induced the transition to the current sustained economic growth in develop ...
... There are many problems associated with the theory of long-term economic growth. The study of Galor (2005) describes the evolution of income per capita since the epoch of Malthusian stagnation and discusses the process, which induced the transition to the current sustained economic growth in develop ...
Mozambique`s Industrialization
... economy to a market-driven one, in the mid-1980s followed an international trend with the collapse of the socialist bloc countries and the end of the Cold War era. Before its independence in 1975 from Portugal, Mozambique had a mixed industrialization pattern of a dual society. On one side, there wa ...
... economy to a market-driven one, in the mid-1980s followed an international trend with the collapse of the socialist bloc countries and the end of the Cold War era. Before its independence in 1975 from Portugal, Mozambique had a mixed industrialization pattern of a dual society. On one side, there wa ...
IOSR Journal Of Humanities And Social Science (IOSR-JHSS)
... From the above figure, it becomes clear that there is a continuous decline in the percentage of both out-put and work force of primary sector, but the fall in the out-put is more steeper than the fall in the work force which is not a good sign for J&K state economy as it represents low degree of inc ...
... From the above figure, it becomes clear that there is a continuous decline in the percentage of both out-put and work force of primary sector, but the fall in the out-put is more steeper than the fall in the work force which is not a good sign for J&K state economy as it represents low degree of inc ...
Macroeconomic Determinants of the Labour Market in Nigeria
... Economic theory, postulates that labour demand in the long run is driven by output, the (relative) cost of labour and capacity utilization. When output increases, more units of the inputs have to be used. If the production structure is fixed, inputs will grow at the same rate as output, so that each ...
... Economic theory, postulates that labour demand in the long run is driven by output, the (relative) cost of labour and capacity utilization. When output increases, more units of the inputs have to be used. If the production structure is fixed, inputs will grow at the same rate as output, so that each ...
An Abridged Roadmap from The Keynesian Cross to the AD Curve
... When two curves that really deserve each other get together, it’s a beautiful thing. When the ISLM curves get together, they tell us the short-run equilibrium level of income and the interest rate for a given level of real money balances and an equilibrium in the goods and services market (see Figur ...
... When two curves that really deserve each other get together, it’s a beautiful thing. When the ISLM curves get together, they tell us the short-run equilibrium level of income and the interest rate for a given level of real money balances and an equilibrium in the goods and services market (see Figur ...
Chapter 20 - Aggregate demand and aggregate supply
... As the economy becomes better able to produce goods and services over time, primarily because of technological progress, the long-run aggregate-supply curve shifts to the right. At the same time, as the Fed increases the money supply, the aggregate-demand curve also shifts to the right. In this figu ...
... As the economy becomes better able to produce goods and services over time, primarily because of technological progress, the long-run aggregate-supply curve shifts to the right. At the same time, as the Fed increases the money supply, the aggregate-demand curve also shifts to the right. In this figu ...
Employment, productivity and output growth
... This paper clarifies the links between employment, productivity and output growth and traces the changing nature of these links over different time frames. It raises issues central to the overarching theme of poverty reduction and productivity in the World Employment Report 2004 published by the Int ...
... This paper clarifies the links between employment, productivity and output growth and traces the changing nature of these links over different time frames. It raises issues central to the overarching theme of poverty reduction and productivity in the World Employment Report 2004 published by the Int ...
Impact of Russia`s WTO Accession on the Structure of the Russian
... One of the key issues in the Russia-WTO negotiations is energy price setting in Russia. The EU argues that domestic prices of energy in Russia are much lower than the world prices and that this is unfair competition which should be eliminated under the WTO accession agreement. In response, Russia’s ...
... One of the key issues in the Russia-WTO negotiations is energy price setting in Russia. The EU argues that domestic prices of energy in Russia are much lower than the world prices and that this is unfair competition which should be eliminated under the WTO accession agreement. In response, Russia’s ...
UNPC PHOTO 68 ECONOMIC AND SOCIAL SURVEY OF ASIA AND THE PACIFIC 2013
... The situation was different in Japan. The country first recovered during the early part of 2012 as a result of the reconstruction activities that were launched in the wake of the massive earthquake and tsunami that occurred in March 2011, but then Japan fell into recession. However, it achieved posi ...
... The situation was different in Japan. The country first recovered during the early part of 2012 as a result of the reconstruction activities that were launched in the wake of the massive earthquake and tsunami that occurred in March 2011, but then Japan fell into recession. However, it achieved posi ...
Parkin-Bade Chapter 22
... A Keynesian macroeconomist believes that left alone, the economy would rarely operate at full employment and that to achieve and maintain full employment, active help from fiscal policy and monetary policy is required. The term “Keynesian” derives from the name of one of the twentieth century’s most ...
... A Keynesian macroeconomist believes that left alone, the economy would rarely operate at full employment and that to achieve and maintain full employment, active help from fiscal policy and monetary policy is required. The term “Keynesian” derives from the name of one of the twentieth century’s most ...
Chapter 6 The Standard Trade Model
... International Borrowing and Lending • When international borrowing and lending are allowed, the world real interest rate is determined by the intersection of world relative demand and world relative supply. – The world real interest rate will be between the real interest rates that existed in the t ...
... International Borrowing and Lending • When international borrowing and lending are allowed, the world real interest rate is determined by the intersection of world relative demand and world relative supply. – The world real interest rate will be between the real interest rates that existed in the t ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research Volume Title: Policies to Combat Depression
... The 1948 drop in the rate of growth of demand at the same time that supply capacity continued to expand was only temporary. It was only a brief pause in the postwar boom. It did not take long to complete the relatively small market readjustments called for, such as price and inventory declines. Beca ...
... The 1948 drop in the rate of growth of demand at the same time that supply capacity continued to expand was only temporary. It was only a brief pause in the postwar boom. It did not take long to complete the relatively small market readjustments called for, such as price and inventory declines. Beca ...
App 20
... flatter line (labeled “Aggregate Expenditure = Consumption”). The equilibrium condition is shown by the 45-degree line (labeled “AE = RGDP”). The only point for which consumption spending equals aggregate expenditure equals output is the point where those two lines intersect. ...
... flatter line (labeled “Aggregate Expenditure = Consumption”). The equilibrium condition is shown by the 45-degree line (labeled “AE = RGDP”). The only point for which consumption spending equals aggregate expenditure equals output is the point where those two lines intersect. ...
Lecture Notes for Chapter 6
... International Borrowing and Lending • When international borrowing and lending are allowed, the world real interest rate is determined by the intersection of world relative demand and world relative supply. – The world real interest rate will be between the real interest rates that existed in the tw ...
... International Borrowing and Lending • When international borrowing and lending are allowed, the world real interest rate is determined by the intersection of world relative demand and world relative supply. – The world real interest rate will be between the real interest rates that existed in the tw ...
Low unemployment
... potential output duc Lo the unemployment of the factor oI production, labour, then the econorny is foregoing possible output and would be operating at a point within its production possibility curve. This loss of output. and income to the unemploycd, has other implications lor the economy as a whole ...
... potential output duc Lo the unemployment of the factor oI production, labour, then the econorny is foregoing possible output and would be operating at a point within its production possibility curve. This loss of output. and income to the unemploycd, has other implications lor the economy as a whole ...
Mark Setterfield Yun K. Kim Jeremy Rees Inequality, Debt Servicing
... Following Setterfield and Kim (2013), our model consists of banks, firms, and two types of households – working households who borrow to finance some part of their current consumption and rentier households who do not. The balance sheet and transaction flow relationships between these agents are des ...
... Following Setterfield and Kim (2013), our model consists of banks, firms, and two types of households – working households who borrow to finance some part of their current consumption and rentier households who do not. The balance sheet and transaction flow relationships between these agents are des ...
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.