ECON 102 SPRING 2007 –FIRST MIDTERM
... Types of unemployment – there are 4 types of unemployment 1) Frictional unemployment- due to the normal workings of the labor market. It involves people being temporarily between jobs or searching for a new job 2) Structural unemployment- due to changes in the structure of the economy 3) Seasonal un ...
... Types of unemployment – there are 4 types of unemployment 1) Frictional unemployment- due to the normal workings of the labor market. It involves people being temporarily between jobs or searching for a new job 2) Structural unemployment- due to changes in the structure of the economy 3) Seasonal un ...
Harrod-Dommar Model
... important component of economic growth. Because labor is assumed to be abundant in developing countries and can be hired as needed to capital investment. In this model labor force is not described explicitly. In this model, capital output ratio is assumed to be fixed at 3:1 i.e. if σ =3% and net sav ...
... important component of economic growth. Because labor is assumed to be abundant in developing countries and can be hired as needed to capital investment. In this model labor force is not described explicitly. In this model, capital output ratio is assumed to be fixed at 3:1 i.e. if σ =3% and net sav ...
Mr. Maurer Name: ____________________________ AP Economics
... (ii) John Lamb’s equilibrium rental quantity of machines, labeled as QL (b) Assume that the popularity of widgets declines, decreasing the demand for widgets. What will happen to each of the following? (i) Marginal product curve for machine-hours (ii) Marginal revenue product curve for machine-hours ...
... (ii) John Lamb’s equilibrium rental quantity of machines, labeled as QL (b) Assume that the popularity of widgets declines, decreasing the demand for widgets. What will happen to each of the following? (i) Marginal product curve for machine-hours (ii) Marginal revenue product curve for machine-hours ...
Macroeconomic Theory
... The rise in the total loans reflects increased savings that comes from reduced consumption. If savings are unresponsive to changes in the real interest rate (substitution effects = income effects), then the LFS curve will be vertical, and only investment will be crowded out. 2. In a Neoclassical mod ...
... The rise in the total loans reflects increased savings that comes from reduced consumption. If savings are unresponsive to changes in the real interest rate (substitution effects = income effects), then the LFS curve will be vertical, and only investment will be crowded out. 2. In a Neoclassical mod ...
Chapter 18 - McGraw Hill Higher Education
... • Demand shifts when the value of the marginal product of a worker changes • Two factors determine the demand (VMP) for labor – The price of the company’s output • An increase in market demand ...
... • Demand shifts when the value of the marginal product of a worker changes • Two factors determine the demand (VMP) for labor – The price of the company’s output • An increase in market demand ...
Cyclical unemployment
... 1.People who get “fired” or “quit” to look for a better one. [30 mil. a yr] [6 million U.S. workers get laid off each year] 2. “Graduates” from high school or college who are looking for a job. 3. “Seasonal” or weather-dependent jobs such as “agricultural”, “construction”, “retail”, or “tourism”. [l ...
... 1.People who get “fired” or “quit” to look for a better one. [30 mil. a yr] [6 million U.S. workers get laid off each year] 2. “Graduates” from high school or college who are looking for a job. 3. “Seasonal” or weather-dependent jobs such as “agricultural”, “construction”, “retail”, or “tourism”. [l ...
chapter20 - YSU
... Investment and the Capital Stock • A stock variable measures a quantity at a moment in time – Capital stock is a measure of total plant and equipment in economy at any moment • A flow variable measures a process that takes places over a period of time – Planned investment is a flow variable • Depre ...
... Investment and the Capital Stock • A stock variable measures a quantity at a moment in time – Capital stock is a measure of total plant and equipment in economy at any moment • A flow variable measures a process that takes places over a period of time – Planned investment is a flow variable • Depre ...
WWS-561 / Week-3 / EAST ASIAN MIRACLE - WORLD BANK
... Increased saving and investment: Established and financially supported government banks Made it more accessible to non- traditional savers (lowered transaction costs) Encouraged private savings through tax incentives and compulsory provident funds Maintain high public savings High interest rates on ...
... Increased saving and investment: Established and financially supported government banks Made it more accessible to non- traditional savers (lowered transaction costs) Encouraged private savings through tax incentives and compulsory provident funds Maintain high public savings High interest rates on ...
1. For comparing changes in potential military strength and political
... measured by changes in real GDP? A. An increase in the educational attainment of the labor force B. A permanent decrease in frictional unemployment C. An increase in the amount of capital per worker D. A decrease in the labor force participation rate 11. Which of the following statements is correct? ...
... measured by changes in real GDP? A. An increase in the educational attainment of the labor force B. A permanent decrease in frictional unemployment C. An increase in the amount of capital per worker D. A decrease in the labor force participation rate 11. Which of the following statements is correct? ...
Input Market
... directly - as a result, some of the workers are excluded from jobs as if the union had directly limited entry c) increasing the demand for labor (for union labor) – shift in the ...
... directly - as a result, some of the workers are excluded from jobs as if the union had directly limited entry c) increasing the demand for labor (for union labor) – shift in the ...
Document
... (2) Why the Classical economists consider money is neutral? Please explain your answer by illustrating their assumptions and implications. (6 points) ...
... (2) Why the Classical economists consider money is neutral? Please explain your answer by illustrating their assumptions and implications. (6 points) ...
Macroeconomic Volatilities and the Labor Market: First
... results. In this regard, the Eurozone offers an unprecedented and largely unexplored experiment: as member states share the same monetary policy, partly harmonized fiscal policies and similar macroeconomic shocks, different labor market institutions can be expected to be an important driver for diff ...
... results. In this regard, the Eurozone offers an unprecedented and largely unexplored experiment: as member states share the same monetary policy, partly harmonized fiscal policies and similar macroeconomic shocks, different labor market institutions can be expected to be an important driver for diff ...
Perspectives on Enhancing Agricultural Productivity
... developing countries including Tanzania need to take into account that agriculture remains the main livelihood for large number of poor farmers and rural families. Agriculture is the main source of food and income in many developing countries. While agricultural development interventions enhancing t ...
... developing countries including Tanzania need to take into account that agriculture remains the main livelihood for large number of poor farmers and rural families. Agriculture is the main source of food and income in many developing countries. While agricultural development interventions enhancing t ...
PowerPoint
... Ageing and economic sructure • The young and the retired have a negative effect on the aggregate saving rate. – This implies a higher level of demand for all goods at any given national income. – Deterioration in external balance ...
... Ageing and economic sructure • The young and the retired have a negative effect on the aggregate saving rate. – This implies a higher level of demand for all goods at any given national income. – Deterioration in external balance ...
Potential GDP and the Natural Unemployment Rate
... in the economy plan to hire in a given time period at a given real wage rate. • Demand for labor: The relationship between the quantity of labor demanded and the real wage rate, when all other influences on hiring plans remain constant. • Quantity of labor supplied : The total hours that all househo ...
... in the economy plan to hire in a given time period at a given real wage rate. • Demand for labor: The relationship between the quantity of labor demanded and the real wage rate, when all other influences on hiring plans remain constant. • Quantity of labor supplied : The total hours that all househo ...
ECON 401 November 19, 2012 Fragile Economy in the 1990s
... The stock of domestic debt was only about 6% of the GNP in 1989, just when the liberalization of the capital account was completed. It grew rapidly, and reached 20% by 1997. In 1993, shortly before the onset of the crisis almost all the central government’ s budgetary expenditures were being allocat ...
... The stock of domestic debt was only about 6% of the GNP in 1989, just when the liberalization of the capital account was completed. It grew rapidly, and reached 20% by 1997. In 1993, shortly before the onset of the crisis almost all the central government’ s budgetary expenditures were being allocat ...
Fei–Ranis model of economic growth
The Fei–Ranis model of economic growth is a dualism model in developmental economics or welfare economics that has been developed by John C. H. Fei and Gustav Ranis and can be understood as an extension of the Lewis model. It is also known as the Surplus Labor model. It recognizes the presence of a dual economy comprising both the modern and the primitive sector and takes the economic situation of unemployment and underemployment of resources into account, unlike many other growth models that consider underdeveloped countries to be homogenous in nature. According to this theory, the primitive sector consists of the existing agricultural sector in the economy, and the modern sector is the rapidly emerging but small industrial sector. Both the sectors co-exist in the economy, wherein lies the crux of the development problem. Development can be brought about only by a complete shift in the focal point of progress from the agricultural to the industrial economy, such that there is augmentation of industrial output. This is done by transfer of labor from the agricultural sector to the industrial one, showing that underdeveloped countries do not suffer from constraints of labor supply. At the same time, growth in the agricultural sector must not be negligible and its output should be sufficient to support the whole economy with food and raw materials. Like in the Harrod–Domar model, saving and investment become the driving forces when it comes to economic development of underdeveloped countries.