Public Sector and Mixed Economy
... (Efficiency continued…) Consider all ‘efficient’ points given our existing resources • Called the Utility Possibility Frontier 1. Must be downward sloping • To increase 1’s utility we must take utility away from 2 2. Points below line are attainable but not efficient • Could give some to both 1 and ...
... (Efficiency continued…) Consider all ‘efficient’ points given our existing resources • Called the Utility Possibility Frontier 1. Must be downward sloping • To increase 1’s utility we must take utility away from 2 2. Points below line are attainable but not efficient • Could give some to both 1 and ...
National Recovery Plan Summary Leaflet
... Our economy will recover. Detailed policy measures identified in the Plan will build on our strengths and develop other sectors to provide a balanced economy and employment for our citizens. Our future prosperity rests upon the implementation of this Plan over the next four years. ...
... Our economy will recover. Detailed policy measures identified in the Plan will build on our strengths and develop other sectors to provide a balanced economy and employment for our citizens. Our future prosperity rests upon the implementation of this Plan over the next four years. ...
Macro Glossary File
... inflationary gap: - the difference between actual real GDP and potential real GDP when the economy is temporarily producing an output above full employment. injection: - any spending flow that is not dependent on the current level of income. inputs: - physical or virtual entities that can be used to ...
... inflationary gap: - the difference between actual real GDP and potential real GDP when the economy is temporarily producing an output above full employment. injection: - any spending flow that is not dependent on the current level of income. inputs: - physical or virtual entities that can be used to ...
Economic Policies
... central bank is ‘goal independent’, the deficit spending multiplier is zero; This result is particularly important in view of much current theory and practice that see fiscal policy better divorced from monetary policy; This large difference in fiscal multipliers is explained by the expectations ...
... central bank is ‘goal independent’, the deficit spending multiplier is zero; This result is particularly important in view of much current theory and practice that see fiscal policy better divorced from monetary policy; This large difference in fiscal multipliers is explained by the expectations ...
timely, targeted and temporary
... Temporary stimulus is necessary if stimulus is not to raise questions about the country’s long run fiscal position. If stimulus were not credibly temporary, it would likely raise long term interest rates and increase capital costs offsetting its positive impact. Moreover if stimulus is not temporary ...
... Temporary stimulus is necessary if stimulus is not to raise questions about the country’s long run fiscal position. If stimulus were not credibly temporary, it would likely raise long term interest rates and increase capital costs offsetting its positive impact. Moreover if stimulus is not temporary ...
Mongolia
... The Mongolian economy returned to double-digit inflation during the first half of 2011 due to high imported food costs, increased economic activity and government spending. Inflationary pressures eased somewhat in the second half of 2011 as food prices stabilized and import demand from China moderat ...
... The Mongolian economy returned to double-digit inflation during the first half of 2011 due to high imported food costs, increased economic activity and government spending. Inflationary pressures eased somewhat in the second half of 2011 as food prices stabilized and import demand from China moderat ...
March 1, 2012 - Baton Rouge Community College
... Grading: The College grading policy should be included in the course syllabus. Any special practices should also go here. This should include the instructor’s and/or the department’s policy for make-up work. For example in a speech course, “Speeches not given on due date will receive no grade higher ...
... Grading: The College grading policy should be included in the course syllabus. Any special practices should also go here. This should include the instructor’s and/or the department’s policy for make-up work. For example in a speech course, “Speeches not given on due date will receive no grade higher ...
Chapter 21 The determination of national income
... AD < Potential Output, then firm cannot sell as much as they would like ...
... AD < Potential Output, then firm cannot sell as much as they would like ...
Slayt 1
... The primary factors of the transition from the public sector to fiscal policy can be grouped in two areas; foreign and domestic. On of the foreign side,strong demands and pressures came openly and directly from the IMF and the World Bank. These two institutions had argued continuously that the ISI p ...
... The primary factors of the transition from the public sector to fiscal policy can be grouped in two areas; foreign and domestic. On of the foreign side,strong demands and pressures came openly and directly from the IMF and the World Bank. These two institutions had argued continuously that the ISI p ...
14.02: Principles of Macroeconomics
... Given that interest rates are very close to zero, a monetary expansion will not have much further impact on output. After all, nominal interest rate cannot be negative. In addition, from (a), it seems that the Bank of Japan has already engaged in expansionary monetary policy without much success. c) ...
... Given that interest rates are very close to zero, a monetary expansion will not have much further impact on output. After all, nominal interest rate cannot be negative. In addition, from (a), it seems that the Bank of Japan has already engaged in expansionary monetary policy without much success. c) ...
FRQ 2 1. Assume the US is operating normally: inflation is at 3
... (d) Are there any fiscal policies that the government could employ to reduce the overall price level in the short run? Explain your answer. 2. Assume the US is operating normally: inflation is at 3% annually and unemployment is at 5%. (a) Draw a production-possibilities curve representing the US eco ...
... (d) Are there any fiscal policies that the government could employ to reduce the overall price level in the short run? Explain your answer. 2. Assume the US is operating normally: inflation is at 3% annually and unemployment is at 5%. (a) Draw a production-possibilities curve representing the US eco ...
Macro - Unit 3
... APE/Honors Economics – Test Study Questions – Macro – Unit 3 1. In the 1960’s many newspaper reporters were accustomed to reporting a decrease in the unemployment rate when the overall price level increased. However, in the 1970’s,when increases in the overall price level were accompanied by increas ...
... APE/Honors Economics – Test Study Questions – Macro – Unit 3 1. In the 1960’s many newspaper reporters were accustomed to reporting a decrease in the unemployment rate when the overall price level increased. However, in the 1970’s,when increases in the overall price level were accompanied by increas ...
President Kennedy: The Television Debates
... strongest economic expansion in this nation's modern history GDP increased more in 4 years than it had in the previous 8. By 1964, a record $100 billion, 16% growth in the nation's total output had provided more than 2.75 million more jobs and a record rise in labour income. The amount of idle m ...
... strongest economic expansion in this nation's modern history GDP increased more in 4 years than it had in the previous 8. By 1964, a record $100 billion, 16% growth in the nation's total output had provided more than 2.75 million more jobs and a record rise in labour income. The amount of idle m ...
PRESENTATION NAME
... Nigeria plans this year to recalculate its gross domestic product, which could push it above South Africa as the continent’s biggest economy, although the rebasing has missed several deadlines already. Economic growth is expected to improve further in 2014, driven by agriculture, trade, and services ...
... Nigeria plans this year to recalculate its gross domestic product, which could push it above South Africa as the continent’s biggest economy, although the rebasing has missed several deadlines already. Economic growth is expected to improve further in 2014, driven by agriculture, trade, and services ...
The five fundamental principles of macroeconomics: 1. The overall
... 3. In the long-run, market prices balance supply and demand, so that resource availability determines production and income independently of aggregate demand. a) Real wages and employment are determined by the scarcity of labor and labor’s value in the production of goods. b) Real interest rates are ...
... 3. In the long-run, market prices balance supply and demand, so that resource availability determines production and income independently of aggregate demand. a) Real wages and employment are determined by the scarcity of labor and labor’s value in the production of goods. b) Real interest rates are ...
Economics final review questions part II.
... What are the different types of economic indicators and what does each show? What is the consumer price index (CPI), how is it determined, and what does it show? Know the different parts of the business cycle? What does it mean when we talk about demand and supply in terms of aggregates? Describe wh ...
... What are the different types of economic indicators and what does each show? What is the consumer price index (CPI), how is it determined, and what does it show? Know the different parts of the business cycle? What does it mean when we talk about demand and supply in terms of aggregates? Describe wh ...
Here - Queen`s Economics Department
... this type of program will also increase the income level of people who are currently paying their daycare expenses. With a Keynesian consumption function this increase in income will generate an increase in consumption increasing absorption more than the original increase in government spending. The ...
... this type of program will also increase the income level of people who are currently paying their daycare expenses. With a Keynesian consumption function this increase in income will generate an increase in consumption increasing absorption more than the original increase in government spending. The ...
One-Period Macro Model
... Comparison with IS-LM • CE vs IS-LM: Not entirely comparable since no saving/interest rate in CE model. (i) Both Predict dY/dG > 0. Government purchases can be used to stabilize GDP and business cycles. (ii) Increase in G alone, then dY/dG > 0 and dy/dC might be > 0, so “welfare” ambiguous. (iii) C ...
... Comparison with IS-LM • CE vs IS-LM: Not entirely comparable since no saving/interest rate in CE model. (i) Both Predict dY/dG > 0. Government purchases can be used to stabilize GDP and business cycles. (ii) Increase in G alone, then dY/dG > 0 and dy/dC might be > 0, so “welfare” ambiguous. (iii) C ...
Macro Semester Topics
... Employment and Unemployment 42. Part time workers are ___________ as “employed”. 43. Discouraged workers are ____ ___________ as unemployed. 44. “Full Employment Unemployment” (FE) is the ________ ____ __ __________ for a country. CPI, GDP Deflators, Inflation 45. An Index Year is always made equal ...
... Employment and Unemployment 42. Part time workers are ___________ as “employed”. 43. Discouraged workers are ____ ___________ as unemployed. 44. “Full Employment Unemployment” (FE) is the ________ ____ __ __________ for a country. CPI, GDP Deflators, Inflation 45. An Index Year is always made equal ...
Britain’s national debt is now over £700 years
... The UK’s net debt reached £697.5 billion last December, equivalent to 47.5% of our GDP. In the Chancellor’s autumn statement of 2008, he predicted that national debt will increase to £1,000 million by 2012, and that by 2012–13 debt as a proportion of GDP will have risen to ...
... The UK’s net debt reached £697.5 billion last December, equivalent to 47.5% of our GDP. In the Chancellor’s autumn statement of 2008, he predicted that national debt will increase to £1,000 million by 2012, and that by 2012–13 debt as a proportion of GDP will have risen to ...
Chapter X - McGraw Hill Higher Education
... world economies slowed. • Changes in oil prices—even spectacular ones—seem to have less of an effect on aggregate supply than they once did. ...
... world economies slowed. • Changes in oil prices—even spectacular ones—seem to have less of an effect on aggregate supply than they once did. ...
US RECESSION
... The decrease in investment demand led to a sharp shift of the IS curve to the left, from IS to IS”. The increase in the money supply led to a downward shift of the LM curve, from LM to LM’. The decrease in tax rates and the increase in spending both led to a shift of the IS curve to the right, ...
... The decrease in investment demand led to a sharp shift of the IS curve to the left, from IS to IS”. The increase in the money supply led to a downward shift of the LM curve, from LM to LM’. The decrease in tax rates and the increase in spending both led to a shift of the IS curve to the right, ...
Military spending update and philippines update
... amounts to 20% of the budget, the Center for Defense Information (CDI) reports 51%, the Friends Committee on National Legislation (FCNL) reports 43%, and the War Resisters League claims 54%. Why the variation? • Different groups have different purposes in how they present the budget figures. • WRL’s ...
... amounts to 20% of the budget, the Center for Defense Information (CDI) reports 51%, the Friends Committee on National Legislation (FCNL) reports 43%, and the War Resisters League claims 54%. Why the variation? • Different groups have different purposes in how they present the budget figures. • WRL’s ...
Olivier Blanchard Carlo Cottarelli 28 June 2010, VOX.EU
... sums up the research-based policy analysis of the issue. Advanced economies are facing the difficult challenge of implementing fiscal adjustment strategies without undermining a still-fragile economic recovery. Fiscal adjustment is key to high private investment and longterm growth. It may also be k ...
... sums up the research-based policy analysis of the issue. Advanced economies are facing the difficult challenge of implementing fiscal adjustment strategies without undermining a still-fragile economic recovery. Fiscal adjustment is key to high private investment and longterm growth. It may also be k ...