1 Principles of Macroeconomics, 9e
... 24) Coal is used as a source of energy in many manufacturing processes. Assume a long strike by coal miners reduced the supply of coal and increased the price of coal. This would cause A) the short-run aggregate supply curve to shift to the right. B) the short-run aggregate supply curve to become fl ...
... 24) Coal is used as a source of energy in many manufacturing processes. Assume a long strike by coal miners reduced the supply of coal and increased the price of coal. This would cause A) the short-run aggregate supply curve to shift to the right. B) the short-run aggregate supply curve to become fl ...
Foundations of Economics, 3e (Bade/Parkin)
... 34) The line showing potential GDP is a vertical straight line because A) there is only one level of full employment at any point in time. B) economists are unsure about how to determine potential GDP C) it represents the minimum level of real GDP in a recession. D) when nothing else changes, a high ...
... 34) The line showing potential GDP is a vertical straight line because A) there is only one level of full employment at any point in time. B) economists are unsure about how to determine potential GDP C) it represents the minimum level of real GDP in a recession. D) when nothing else changes, a high ...
Principles of Macroeconomics - Test Item File 1 Ninth Edition by
... 12) A transfer payment is A) a bonus to get a worker to accept a transfer. B) a cash payment made by the government to people who do not supply goods, services or labor in exchange for the payment. C) a cash payment for transferring a good from one person to another. D) an in kind payment for workin ...
... 12) A transfer payment is A) a bonus to get a worker to accept a transfer. B) a cash payment made by the government to people who do not supply goods, services or labor in exchange for the payment. C) a cash payment for transferring a good from one person to another. D) an in kind payment for workin ...
1 - Test Bank wizard
... Answer: B Page 16 © 2015 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. ...
... Answer: B Page 16 © 2015 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. ...
1 - Test Bank Go!
... Answer: B Page 16 © 2015 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. ...
... Answer: B Page 16 © 2015 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. ...
Cost Curves of the Firm
... Maximum Output. Less colorful stories apply to the earlier parts of the curve, but the moral is the same. Along Acceptable, marginal returns diminish continually; along Also Acceptable, they at first increase, then diminish. The critical point is that the functions do not end like Unacceptable, the ...
... Maximum Output. Less colorful stories apply to the earlier parts of the curve, but the moral is the same. Along Acceptable, marginal returns diminish continually; along Also Acceptable, they at first increase, then diminish. The critical point is that the functions do not end like Unacceptable, the ...
NBER WORKING PAPER SERIES PARTIAL ADJUSTMENT WITHOUT APOLOGY Robert G. King
... through which aggregate shocks affect aggregate employment is by changing the fraction of plants that choose to adjust. Accordingly, we develop a model where the aggregate adjustment rate is an endogenous function of the state of the economy. While our generalized model is not observationally equival ...
... through which aggregate shocks affect aggregate employment is by changing the fraction of plants that choose to adjust. Accordingly, we develop a model where the aggregate adjustment rate is an endogenous function of the state of the economy. While our generalized model is not observationally equival ...
Partial Adjustment Without Apology
... general equilibrium framework, so that the influence of aggregate shocks on equilibrium adjustment patterns may be systematically studied. Moreover, it is sufficiently tractable to accommodate additional sources of heterogeneity; thus, beyond achieving consistency with the stylized facts highlighted h ...
... general equilibrium framework, so that the influence of aggregate shocks on equilibrium adjustment patterns may be systematically studied. Moreover, it is sufficiently tractable to accommodate additional sources of heterogeneity; thus, beyond achieving consistency with the stylized facts highlighted h ...
Labor Reallocation and Productivity Dynamics: Financial Causes
... is still more than 2 times larger. This paper therefore provides the first set of empirical evidence that labour reallocations can affect dramatically the path of labour productivity when the economy is hit with a financial crisis and that the effect of labour reallocations actually dwarfs the effect o ...
... is still more than 2 times larger. This paper therefore provides the first set of empirical evidence that labour reallocations can affect dramatically the path of labour productivity when the economy is hit with a financial crisis and that the effect of labour reallocations actually dwarfs the effect o ...
Structural Transformation and Economic Development. Can
... of the model ........................................................................................................................ 238 Table B. 1. Economies that turned to lower-middle incomes (LMI) after 1950 and graduated to upper-middle incomes (UMI) before 2014. 11 countries. ................ ...
... of the model ........................................................................................................................ 238 Table B. 1. Economies that turned to lower-middle incomes (LMI) after 1950 and graduated to upper-middle incomes (UMI) before 2014. 11 countries. ................ ...
Local Risk, Local Factors, and Asset Prices
... aggregate productivity shocks, their location will affect their risk and equity returns only through local production factors. Two competing channels are at work here. On the one hand, more cyclical wages absorb part of the aggregate shocks. This provides a natural hedge for firms in high beta areas ...
... aggregate productivity shocks, their location will affect their risk and equity returns only through local production factors. Two competing channels are at work here. On the one hand, more cyclical wages absorb part of the aggregate shocks. This provides a natural hedge for firms in high beta areas ...
2 - Nimantha Manamperi, PhD
... • As a result, the economy’s rate of growth over long periods—say, decades—is very close to the rate of growth of potential output. • And potential output growth is determined by the factors we analyzed in the chapter on long-run economic growth. So, that means that the “long run” of long-run growth ...
... • As a result, the economy’s rate of growth over long periods—say, decades—is very close to the rate of growth of potential output. • And potential output growth is determined by the factors we analyzed in the chapter on long-run economic growth. So, that means that the “long run” of long-run growth ...
Chapter 7 - Dr. George Fahmy
... The income-expenditure approach to output is presented graphically in Fig. 7-4 using the data from Table 7-1. Consumption’s direct relationship to income is depicted in the figure by the linear consumption function C. Adding investment of $100 billion and net exports of $10 billion to consumption sh ...
... The income-expenditure approach to output is presented graphically in Fig. 7-4 using the data from Table 7-1. Consumption’s direct relationship to income is depicted in the figure by the linear consumption function C. Adding investment of $100 billion and net exports of $10 billion to consumption sh ...
The Modern Macroeconomic Debate
... adjust both price and quantity in response to changes in aggregate demand. Differences between expected and actual price causes firms to i) adjust output believing there was a relative price change; ii) adjust quantity when it is costly to change price; and iii) change employment and production whe ...
... adjust both price and quantity in response to changes in aggregate demand. Differences between expected and actual price causes firms to i) adjust output believing there was a relative price change; ii) adjust quantity when it is costly to change price; and iii) change employment and production whe ...
Chapter 25 Aggregate Demand and Supply Analysis
... The aggregate demand curve is downward sloping because (a) a lower price level, holding the nominal quantity of money constant, leads to a larger quantity of money in real terms, causes the interest rate to fall, and stimulates planned investment spending. (b) a lower price level, holding the nomina ...
... The aggregate demand curve is downward sloping because (a) a lower price level, holding the nominal quantity of money constant, leads to a larger quantity of money in real terms, causes the interest rate to fall, and stimulates planned investment spending. (b) a lower price level, holding the nomina ...
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.