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... is present in both the agricultural and non-agricultural sectors. The authors argue that by increasing soil fertility, a typical flood increases agricultural output in the year after it strikes (though output falls in the year it occurs). The benefits from higher agricultural production spill over t ...
... is present in both the agricultural and non-agricultural sectors. The authors argue that by increasing soil fertility, a typical flood increases agricultural output in the year after it strikes (though output falls in the year it occurs). The benefits from higher agricultural production spill over t ...
BUS 111 - Micro Economics
... Flow 6 – When the households buy stuff they pay for it and the term used in the national economy sense to represent this buying is spending or consumption expenditure. The households buy from businesses in the markets for output of good and services. Flow 7 – When the businesses sell goods and servi ...
... Flow 6 – When the households buy stuff they pay for it and the term used in the national economy sense to represent this buying is spending or consumption expenditure. The households buy from businesses in the markets for output of good and services. Flow 7 – When the businesses sell goods and servi ...
View/Open
... and reorganization, it is often purported that the local economy may show signs of economic improvement in the longer-run period following the tornado. Similarly, Guimaraes, Hefner, and Woodward (1993) asserted that the devastation of a hurricane can disrupt the economic activity of a region or city ...
... and reorganization, it is often purported that the local economy may show signs of economic improvement in the longer-run period following the tornado. Similarly, Guimaraes, Hefner, and Woodward (1993) asserted that the devastation of a hurricane can disrupt the economic activity of a region or city ...
On the Functions for Government to Promote Low-carbon Economic Development
... concentration will be accumulating gradually. Its specific results will appear through an indirect form. Exceeding the critical point does not mean that a major disaster will occur, but it implies a change from "possibility" to "inevitability". At present, the situation about global warming is more ...
... concentration will be accumulating gradually. Its specific results will appear through an indirect form. Exceeding the critical point does not mean that a major disaster will occur, but it implies a change from "possibility" to "inevitability". At present, the situation about global warming is more ...
Week Two
... (Martinussen, 1997) Played a major role in the development debate and was incorporated into many planning model in the late 20th century Total production is a result of investment in material production apparatus Output is a function of capital input Other conditions, including non-economic ...
... (Martinussen, 1997) Played a major role in the development debate and was incorporated into many planning model in the late 20th century Total production is a result of investment in material production apparatus Output is a function of capital input Other conditions, including non-economic ...
Chapter 10:
... One can interpret the intercepts of these functions as the amount of each activity that takes place when disposable income is equal to zero. One could also consider the intercepts more broadly as the amount of each activity that takes place independent of disposable income. The latter is a better in ...
... One can interpret the intercepts of these functions as the amount of each activity that takes place when disposable income is equal to zero. One could also consider the intercepts more broadly as the amount of each activity that takes place independent of disposable income. The latter is a better in ...
McGraw-Hill/Irwin
... growth, leading to small or negative per capita output growth. Some developing nations have tried to limit population growth by various means – from advertising campaigns to forced sterilization. ...
... growth, leading to small or negative per capita output growth. Some developing nations have tried to limit population growth by various means – from advertising campaigns to forced sterilization. ...
Growth Convergence and Regional Disparity
... This paper allows the possibilities of different production functions for different regions. Such differences come from the observed differences in the factor shares of income. In steady states, a region with a higher capital share would have a higher per capita output. Thus, the output differences ...
... This paper allows the possibilities of different production functions for different regions. Such differences come from the observed differences in the factor shares of income. In steady states, a region with a higher capital share would have a higher per capita output. Thus, the output differences ...
NBER WORKING PAPER SERIES ARE DEVALUATIONS CONTRACTIONARY? Sebastian Edwards Working Paper No. 1676
... in aggregate output. In spite of the renewed theoretical interest in the possible contractionary effects of devaluations, the empirical evidence on the ...
... in aggregate output. In spite of the renewed theoretical interest in the possible contractionary effects of devaluations, the empirical evidence on the ...
The U.S. economy to 2010
... Real demand GDP and its components Personal consumption expenditures. Personal consumption spending, which makes up two-thirds of economic activity, is the largest component of demand. During the past four decades, the growth of consumer spending reflected the interaction of many factors that influe ...
... Real demand GDP and its components Personal consumption expenditures. Personal consumption spending, which makes up two-thirds of economic activity, is the largest component of demand. During the past four decades, the growth of consumer spending reflected the interaction of many factors that influe ...
Econ 100 - Aggregate demand and aggregate supply
... A fall in the price level from P1 to P2 increases the quantity of goods and services demanded from Y1 to Y2. There are three reasons for this negative relationship. As the price level falls, real wealth rises, interest rates fall, and the exchange rate depreciates. These effects stimulate spending o ...
... A fall in the price level from P1 to P2 increases the quantity of goods and services demanded from Y1 to Y2. There are three reasons for this negative relationship. As the price level falls, real wealth rises, interest rates fall, and the exchange rate depreciates. These effects stimulate spending o ...
NBER WORKING PAPER SERIES THE ROLES OF MONETARY, FINANCIAL AND
... private consumption and investment spending on a one-for-one basis by raising the price level and the interest rate. ...
... private consumption and investment spending on a one-for-one basis by raising the price level and the interest rate. ...
Cingolani Napoli SIE 2015 Hayek and Keynes on Say`s Law
... that, in a monetary production economy, equilibrium involuntary unemployment is a possible outcome. Despite being the main successor of the Austrian marginalist tradition in the XXth century, as well as the most radical and consistent "mainstream" opponent of Keynes, Hayek quoted Say's law very rare ...
... that, in a monetary production economy, equilibrium involuntary unemployment is a possible outcome. Despite being the main successor of the Austrian marginalist tradition in the XXth century, as well as the most radical and consistent "mainstream" opponent of Keynes, Hayek quoted Say's law very rare ...
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... growth of countrywide product per worker; while the second component (b) is clearly a measure of the contribution of the non-A sector. But what about the third component (c), the effect of the shift in the percentage distribution of the labour force from the A to the non-A sector? It is in this conn ...
... growth of countrywide product per worker; while the second component (b) is clearly a measure of the contribution of the non-A sector. But what about the third component (c), the effect of the shift in the percentage distribution of the labour force from the A to the non-A sector? It is in this conn ...
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... Although the share of labour in the Thai agriculture sector has been decreasing since 1960 because of the outflow of workers to non-agricultural sectors, the agricultural sector is still quantitatively important to the economy because nearly 40 percent of overall employment was still engaged in this ...
... Although the share of labour in the Thai agriculture sector has been decreasing since 1960 because of the outflow of workers to non-agricultural sectors, the agricultural sector is still quantitatively important to the economy because nearly 40 percent of overall employment was still engaged in this ...
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.