OCR Economics: Macroeconomics 1
... 17 The main trend in economic growth in the UK in the last 20 years has been economic growth of about 2.2% each year. This has not been an even trend as the trade cycle, also known as the business cycle or the economic cycle, contains fluctuations, but the long-run trend has generally been upwards. ...
... 17 The main trend in economic growth in the UK in the last 20 years has been economic growth of about 2.2% each year. This has not been an even trend as the trade cycle, also known as the business cycle or the economic cycle, contains fluctuations, but the long-run trend has generally been upwards. ...
Introduction: What Is the Problem With Natural Resource Wealth?
... today, Indonesia’s per capita income is four times that of Nigeria (Ross 2003). A similar discrepancy can be found among countries rich in diamonds and other nonrenewable minerals akin to oil and gas. For instance, in comparing the diamond-rich countries of Sierra Leone and Botswana, one sees that B ...
... today, Indonesia’s per capita income is four times that of Nigeria (Ross 2003). A similar discrepancy can be found among countries rich in diamonds and other nonrenewable minerals akin to oil and gas. For instance, in comparing the diamond-rich countries of Sierra Leone and Botswana, one sees that B ...
Quo vadis?
... In the short run, the investments, construction and mainly labor market will slow down Czech recovery Inflation in near term not source of concern, but longer horizon is less clear Still, being among the first countries starting with fiscal consolidation is good, the measures taken are less go ...
... In the short run, the investments, construction and mainly labor market will slow down Czech recovery Inflation in near term not source of concern, but longer horizon is less clear Still, being among the first countries starting with fiscal consolidation is good, the measures taken are less go ...
Economic Crises and Policy Change in the Early 1980s
... regulation, would surge ahead. Reagan’s first budget proposed $750 billion in tax cuts over three years, while cutting $11 billion from public works, job training programs, and unemployment benefits (Jones, 1995: 597). According to the OECD (1982a: 24) ‘a trend towards reduced economic regulation wa ...
... regulation, would surge ahead. Reagan’s first budget proposed $750 billion in tax cuts over three years, while cutting $11 billion from public works, job training programs, and unemployment benefits (Jones, 1995: 597). According to the OECD (1982a: 24) ‘a trend towards reduced economic regulation wa ...
Keynes and the Classical Economists: The Early Debate on Policy
... The Role of Flexible Wages and Prices The classical economists believed that Say’s Law and the flexibility of interest rates would ensure that spending would be adequate to maintain full employment. But some critics were unconvinced. Suppose that households chose to “hoard” some of their income. (Ho ...
... The Role of Flexible Wages and Prices The classical economists believed that Say’s Law and the flexibility of interest rates would ensure that spending would be adequate to maintain full employment. But some critics were unconvinced. Suppose that households chose to “hoard” some of their income. (Ho ...
Slides - ncbaeryk
... have different skills, different opportunity costs of producing one good in terms of the other. ...
... have different skills, different opportunity costs of producing one good in terms of the other. ...
ESTIMATING THE UNDERGROUND ECONOMY IN TURKEY Fethi ÖĞÜNÇ (Statistician)
... in the underground economy have lower cost structure than registered firms, and so their labor demand can be higher than the firms in the official economy. In addition, society welfare level may increase as a result of underground economy. As mentioned above, underground economy firms may sell their ...
... in the underground economy have lower cost structure than registered firms, and so their labor demand can be higher than the firms in the official economy. In addition, society welfare level may increase as a result of underground economy. As mentioned above, underground economy firms may sell their ...
Socialism, growth and theory
... present and future consumption), the final outcome should, at least theoretically, not be different than from a society where private agents make all decisions. State-socialist governments, however, were influenced by the Marxian theory of economic development, that, based on Adam Smith‟s view on pr ...
... present and future consumption), the final outcome should, at least theoretically, not be different than from a society where private agents make all decisions. State-socialist governments, however, were influenced by the Marxian theory of economic development, that, based on Adam Smith‟s view on pr ...
Document
... Keynes and his followers argued that, while the classical model might explain the economy’s operation in the long run, the long run could be a very long time in arriving. In the meantime, production could be stuck below its potential. ...
... Keynes and his followers argued that, while the classical model might explain the economy’s operation in the long run, the long run could be a very long time in arriving. In the meantime, production could be stuck below its potential. ...
LEGITIMATING INEQUALITY
... "Under the Darwinian norm it must be held that men's reasoning is largely controlled by other than logical, intellectual forces" (Veblen 1919: 441). ABSTRACT: Over the three decades leading up to the crisis of 2008, inequality dramatically increased in the United States and Great Britain. What stand ...
... "Under the Darwinian norm it must be held that men's reasoning is largely controlled by other than logical, intellectual forces" (Veblen 1919: 441). ABSTRACT: Over the three decades leading up to the crisis of 2008, inequality dramatically increased in the United States and Great Britain. What stand ...
Journal of Economic Issues New Perspectives on Institutionalist
... environment and a certain structure or organization (the collection of relations between the nodes as well as between the nodes and the environment). The latter is a novel and necessary element of any system as well as the source of emergent properties, hence mechanisms. For instance, the degree dis ...
... environment and a certain structure or organization (the collection of relations between the nodes as well as between the nodes and the environment). The latter is a novel and necessary element of any system as well as the source of emergent properties, hence mechanisms. For instance, the degree dis ...
Application of Old Economy Concepts
... • One of the supposed strengths of online commerce was the low fixed costs compared to “brick and mortar” retailers. • Originally, Amazon’s inventory was held by the publishers and Amazon had to pay near wholesale prices for the books. This squeezed profit margins too thin. • Amazon invested in its ...
... • One of the supposed strengths of online commerce was the low fixed costs compared to “brick and mortar” retailers. • Originally, Amazon’s inventory was held by the publishers and Amazon had to pay near wholesale prices for the books. This squeezed profit margins too thin. • Amazon invested in its ...
Growth - Research portal
... discharge of waste which can be accommodated by the environment, i.e. there may be an environmental impact without deterioration.’ Secondly, growth may be accompanied by a ...
... discharge of waste which can be accommodated by the environment, i.e. there may be an environmental impact without deterioration.’ Secondly, growth may be accompanied by a ...
Sectoral Productivity Growth in Saudi Arabia
... development plans drafted and implemented by the government so far. Table (2) shows the projected and actual for average annual growth rates of the various economic sectors during the periods of the different five-years development plans. Except for electricity, gas and water, the manufacturing sect ...
... development plans drafted and implemented by the government so far. Table (2) shows the projected and actual for average annual growth rates of the various economic sectors during the periods of the different five-years development plans. Except for electricity, gas and water, the manufacturing sect ...
economic impacts of medicaid expansion
... Partial equilibrium analysis lets us compare the economy before and after the change but it does not tell us how the economy moves from one equilibrium position to the next. We fully expect that there will be changes in wage rates, input prices, property values, labor and capital productivity over t ...
... Partial equilibrium analysis lets us compare the economy before and after the change but it does not tell us how the economy moves from one equilibrium position to the next. We fully expect that there will be changes in wage rates, input prices, property values, labor and capital productivity over t ...
Answers to First Midterm
... unemployment rate since the unemployment rate is defined as the (number of unemployed divided by the number in the labor force)*100: when discouraged workers increase this causes both the denominator and the numerator to change, but the decrease in the numerator has a larger impact than the decrease ...
... unemployment rate since the unemployment rate is defined as the (number of unemployed divided by the number in the labor force)*100: when discouraged workers increase this causes both the denominator and the numerator to change, but the decrease in the numerator has a larger impact than the decrease ...
CHAP08
... the two factors are correlated: countries with higher physical or human capital per worker also ...
... the two factors are correlated: countries with higher physical or human capital per worker also ...
Uk Economic Forecast Q1 2015 BUSINESS WITh CONFIDENCE icaew.com/ukeconomicforecast
... households won’t stop buying food because prices might be lower in a month’s time. With this kind of ‘good deflation’ lower essential costs free up household spending power and boost demand for more discretionary goods and services – which should support economic growth this year. Beyond 2015, heavi ...
... households won’t stop buying food because prices might be lower in a month’s time. With this kind of ‘good deflation’ lower essential costs free up household spending power and boost demand for more discretionary goods and services – which should support economic growth this year. Beyond 2015, heavi ...
1960s: Experiments with Fiscal Policy
... identified his theories as the "prime influence on the world's free economies..." Policy makers had "used Keynesian principles not only to avoid the violent cycles of prewar day but to produce phenomenal economic growth and to achieve remarkably stable prices." The 1960s was a very good time to be a ...
... identified his theories as the "prime influence on the world's free economies..." Policy makers had "used Keynesian principles not only to avoid the violent cycles of prewar day but to produce phenomenal economic growth and to achieve remarkably stable prices." The 1960s was a very good time to be a ...