POZNAN SENSE AND NON-SENSE TOURISM MULTIPLIER
... core of TSA system: confrontation between supply and internal tourism consumption.( see table) • The rows detail output by tourism characteristic product and enhancing services. Total output of an activity ( in column) is obtained as the sum of its outputs by product. The rest of block of rows shows ...
... core of TSA system: confrontation between supply and internal tourism consumption.( see table) • The rows detail output by tourism characteristic product and enhancing services. Total output of an activity ( in column) is obtained as the sum of its outputs by product. The rest of block of rows shows ...
The General Theory After 80 Years
... grounded in a convincing argument as to why the ship could not steer itself. The General Theory thus had to do more than show how unemployment might persist in the workings of the actual economy, 1930s capitalism-warts-and-all. As long as no one could be sure whether the problem was capitalism or th ...
... grounded in a convincing argument as to why the ship could not steer itself. The General Theory thus had to do more than show how unemployment might persist in the workings of the actual economy, 1930s capitalism-warts-and-all. As long as no one could be sure whether the problem was capitalism or th ...
The Aggregate-Supply - Churchill High School
... Suppose the Fed increases the money supply unexpectedly. In the long run, P will rise. ...
... Suppose the Fed increases the money supply unexpectedly. In the long run, P will rise. ...
Economics Power Guide
... Tools like cost-benefit analysis can inform a discussion of choices Choosing between outcomes usually requires criteria beyond the scope of economic theory Some outcomes may hurt some and help others, such as austerity policies Normative statements describe what should be in a society, not w ...
... Tools like cost-benefit analysis can inform a discussion of choices Choosing between outcomes usually requires criteria beyond the scope of economic theory Some outcomes may hurt some and help others, such as austerity policies Normative statements describe what should be in a society, not w ...
From Slowdown to Recovery
... First situation takes place when production cannot keep up with aggregate demand (for both goods and services). The equilibrium is then reached by an appropriate increase in prices that weakens the aggregate demand. The cost-push inflation goes together with a growth of production costs. In such a ...
... First situation takes place when production cannot keep up with aggregate demand (for both goods and services). The equilibrium is then reached by an appropriate increase in prices that weakens the aggregate demand. The cost-push inflation goes together with a growth of production costs. In such a ...
Microsoft Word - Ulster Institutional Repository
... standard one that is found in the empirical literature on growth and employment. The standard definition refers to the observed empirical relationship between actual growth of income and actual increase in the quantity of employment (as measured by the number of people employed). This is different f ...
... standard one that is found in the empirical literature on growth and employment. The standard definition refers to the observed empirical relationship between actual growth of income and actual increase in the quantity of employment (as measured by the number of people employed). This is different f ...
material resources, productivity and the environment
... countries experiencing rapid economic expansion and where incomes are rising, such as the BRIICS. Most of these countries experienced a strong upswing in material extraction starting the early 2000s, while China’s surge began much earlier.5 With the exception of South Africa all of the BRIICS experi ...
... countries experiencing rapid economic expansion and where incomes are rising, such as the BRIICS. Most of these countries experienced a strong upswing in material extraction starting the early 2000s, while China’s surge began much earlier.5 With the exception of South Africa all of the BRIICS experi ...
Chapter 16
... Population Growth (cont.) • Population growth may be a mixed blessing Malthus’s thesis: Given diminishing returns, persistent and substantial population growth will force and maintain the standard of living close to the subsistence level (less developed countries) – If population growth coincides w ...
... Population Growth (cont.) • Population growth may be a mixed blessing Malthus’s thesis: Given diminishing returns, persistent and substantial population growth will force and maintain the standard of living close to the subsistence level (less developed countries) – If population growth coincides w ...
Automatic Stabilizers, Fiscal Rules and Macroeconomic Stability*
... happen in a RBC model and Stockman (2001) showed that the welfare implications of balanced-budget rules may be substantial. Furthermore, Schmitt-Grohé and Uribe (1997) found that there might be sunspot equilibria if tax rates adjust to achieve a balanced budget. Fiscal arrangements currently in plac ...
... happen in a RBC model and Stockman (2001) showed that the welfare implications of balanced-budget rules may be substantial. Furthermore, Schmitt-Grohé and Uribe (1997) found that there might be sunspot equilibria if tax rates adjust to achieve a balanced budget. Fiscal arrangements currently in plac ...
Introduction to Macroeconomics
... • In the classical view the economists said that the supply creates demand and this happened when the factories produced goods and services they sell it in the market and they will gain income where this income will be used to purchase all other goods which means: ...
... • In the classical view the economists said that the supply creates demand and this happened when the factories produced goods and services they sell it in the market and they will gain income where this income will be used to purchase all other goods which means: ...
Principles of Economics, Case and Fair,9e
... pay taxes to the government. They also purchase foreign-made goods and services (imports). Firms receive payments from households and the government for goods and services; they pay wages, dividends, interest, and rents to households and taxes to the government. The government receives taxes from fi ...
... pay taxes to the government. They also purchase foreign-made goods and services (imports). Firms receive payments from households and the government for goods and services; they pay wages, dividends, interest, and rents to households and taxes to the government. The government receives taxes from fi ...
Some Monetary Facts - Federal Reserve Bank of Minneapolis
... study. For example, using a pooled time series-cross-sectional regression, Vogel (1974, p. 112) finds that "an increase in the rate of growth of the money supply causes a proportionate increase in the rate of inflation within two years." The coefficients Vogel gets sum to close to one and behave lik ...
... study. For example, using a pooled time series-cross-sectional regression, Vogel (1974, p. 112) finds that "an increase in the rate of growth of the money supply causes a proportionate increase in the rate of inflation within two years." The coefficients Vogel gets sum to close to one and behave lik ...
FRBSF E L CONOMIC ETTER
... wage-setting decisions by households and firms depend on what they think inflation will be in the future. ...
... wage-setting decisions by households and firms depend on what they think inflation will be in the future. ...
... Progressives, on the other hand, may be more skeptical. In particular, they might object that, because of income inequality, all the extra output created by higher growth wouldn’t translate into commensurate income gains for most Americans. After all, real GDP per capita rose 72 percent between 1979 ...
Practice Exam - Dasha Safonova
... shifts the aggregate planned expenditure curve upward and increases the quantity of real GDP demanded ...
... shifts the aggregate planned expenditure curve upward and increases the quantity of real GDP demanded ...
Chapter 10
... Growth accounting is used to calculate how much real GDP growth results from growth of labor and capital and how much is attributable to technological change. A key tool is the aggregate production ...
... Growth accounting is used to calculate how much real GDP growth results from growth of labor and capital and how much is attributable to technological change. A key tool is the aggregate production ...
An Investigation of Openness and Economic Growth Using Panel Estimation Pei-Pei Chen
... growth. In addition, Frankel and Romer (1999) also examined the relationship between trade and growth. They use instrumental variables (geographic components of the countries) as measures of the effect of trade on income. They concluded that trade does have a positive effect on economic growth which ...
... growth. In addition, Frankel and Romer (1999) also examined the relationship between trade and growth. They use instrumental variables (geographic components of the countries) as measures of the effect of trade on income. They concluded that trade does have a positive effect on economic growth which ...
AP Macro Reading Questions Unit V Inflation, Unemployment and
... a) It is very important to have a record of the graphs included in this homework assignment. If you wish to print the entire file, that’s fine; if not, you are required to draw the included graphs and write out the correct answer from the multiple choices given. Simply put, the graphs are required a ...
... a) It is very important to have a record of the graphs included in this homework assignment. If you wish to print the entire file, that’s fine; if not, you are required to draw the included graphs and write out the correct answer from the multiple choices given. Simply put, the graphs are required a ...
The Shift to the Service Economy: Causes and Effects
... The more developed an economy is, the higher the share of the service sector. This trend is termed as ‘the service economy(OECD 2000)’1) or the shift to services. Not only the share of service industries in production, employment, consumption and trade grow to be higher, but also the proportion of s ...
... The more developed an economy is, the higher the share of the service sector. This trend is termed as ‘the service economy(OECD 2000)’1) or the shift to services. Not only the share of service industries in production, employment, consumption and trade grow to be higher, but also the proportion of s ...
Taylor Economics Chapter 34 Test Bank
... be more productive. If that country's government reacts to political pressure by urban food consumers by imposing price ceilings on farm products, A. foreign investors will be more likely to provide funds for profitable activities. B. it will create a reasonably stable market-oriented macroeconomic ...
... be more productive. If that country's government reacts to political pressure by urban food consumers by imposing price ceilings on farm products, A. foreign investors will be more likely to provide funds for profitable activities. B. it will create a reasonably stable market-oriented macroeconomic ...
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.