Sliding into the Great Depression
... to encourage investment. But additional credit would mean higher imports, and lower interest rates would encourage domestic investors to invest abroad. The result would be a balance-of-payments gap: economic expansion at home was inconsistent with gold convertibility. And few countries wished to aba ...
... to encourage investment. But additional credit would mean higher imports, and lower interest rates would encourage domestic investors to invest abroad. The result would be a balance-of-payments gap: economic expansion at home was inconsistent with gold convertibility. And few countries wished to aba ...
sq-macro-S`98
... 6. For Smith what were the appropriate roles of government? 7. Define and give an example of opportunity cost. 8. Distinguish between microeconomics and macroeconomics. 9. For what two reasons do economists tend to favor markets? Critique, as we did in class, the idea that trade always is mutually b ...
... 6. For Smith what were the appropriate roles of government? 7. Define and give an example of opportunity cost. 8. Distinguish between microeconomics and macroeconomics. 9. For what two reasons do economists tend to favor markets? Critique, as we did in class, the idea that trade always is mutually b ...
Living Standards: A Short Guide to `Economic Growth`
... the economic growth literature, the sharp distinction between level effects and growth effects should not be made, for two reasons. First, the steady-state is a theoretical abstraction that is of limited practical relevance. Most countries are probably not on their steady-state growth paths, with mu ...
... the economic growth literature, the sharp distinction between level effects and growth effects should not be made, for two reasons. First, the steady-state is a theoretical abstraction that is of limited practical relevance. Most countries are probably not on their steady-state growth paths, with mu ...
Complete Syllabus Macroeconomics (12th Grade)
... Comparative advantage is about identifying which activities a country (or firm or individual) is most efficient at doing.To see how this theory works imagine two countries, Alpha and Omega. Each country has 1,000 workers and can make two goods, computers and cars. Alpha's economy is far more product ...
... Comparative advantage is about identifying which activities a country (or firm or individual) is most efficient at doing.To see how this theory works imagine two countries, Alpha and Omega. Each country has 1,000 workers and can make two goods, computers and cars. Alpha's economy is far more product ...
ch22
... Fiscal policy: Changes in taxation and the level of government purchases, typically under the control of a country’s lawmakers ...
... Fiscal policy: Changes in taxation and the level of government purchases, typically under the control of a country’s lawmakers ...
PLC unit 2 econ spring
... monopolistic competition, and pure competition, labor force, derived demand productivity, labor union, glass ceiling, types of labor (unskilled, semi-skilled and skilled) Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation and aggregate su ...
... monopolistic competition, and pure competition, labor force, derived demand productivity, labor union, glass ceiling, types of labor (unskilled, semi-skilled and skilled) Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation and aggregate su ...
principles of economics: an austrian
... No government entity, no matter how efficient or technologically sophisticated, can mimic the process of learning that goes on in the market. This is a sophisticated argument that needs in-depth reading in the Austrian tradition to be grasped fully. It can also be said, however, that among Austrians ...
... No government entity, no matter how efficient or technologically sophisticated, can mimic the process of learning that goes on in the market. This is a sophisticated argument that needs in-depth reading in the Austrian tradition to be grasped fully. It can also be said, however, that among Austrians ...
Here is the Original File - University of New Hampshire
... housing market crash similar to the United States housing market crash in 2008. Figure 1 shows what happened to aggregate supply and demand during this time. Both curves shifted left causing decreased aggregate output and inflation rate leaving the economy in a recession. Unemployment rate, as shown ...
... housing market crash similar to the United States housing market crash in 2008. Figure 1 shows what happened to aggregate supply and demand during this time. Both curves shifted left causing decreased aggregate output and inflation rate leaving the economy in a recession. Unemployment rate, as shown ...
The Future of Monetary Policy - Federal Reserve Bank of Minneapolis
... mistakes —just as they would if they ignored the price implications of a new report on the Russian wheat harvest or a recent change in weather. The wheat farmers who based their decisions on such readily available information, as well as on the historical behavior of past prices, would obviously do ...
... mistakes —just as they would if they ignored the price implications of a new report on the Russian wheat harvest or a recent change in weather. The wheat farmers who based their decisions on such readily available information, as well as on the historical behavior of past prices, would obviously do ...
Thomas Piketty Academic year 2013-2014
... = the biggest world recession since WW2 (usually recessions involve -1%/-2% output contractions at most, or simply a lower positive growth, and they do not happen everywhere at the same time) • ≠ The Great Depression = GDP fall of about 20-30% in all major developed economies in 1929-1933 → rise of ...
... = the biggest world recession since WW2 (usually recessions involve -1%/-2% output contractions at most, or simply a lower positive growth, and they do not happen everywhere at the same time) • ≠ The Great Depression = GDP fall of about 20-30% in all major developed economies in 1929-1933 → rise of ...
The Rationale for Independent Monetary Policy
... thought mentioned above agree that from a steady-state (“long run”) perspective monetary policy has a decisive effect on the inflation rate and little or none on the level of output or employment. 4 With higher inflation rates, moreover, larger fractions of total output must be used in the process o ...
... thought mentioned above agree that from a steady-state (“long run”) perspective monetary policy has a decisive effect on the inflation rate and little or none on the level of output or employment. 4 With higher inflation rates, moreover, larger fractions of total output must be used in the process o ...
NBER WORKING PAPER SERIES MODIGLIANIESQUE MACRO MODELS Stanley Fischer Working Paper No. 1797
... to analyze both monetary and fiscal policy, in both full employment and unemployment modes; it can generate quantity theory or pure Keynesian results with only minor modifications. The model Is capable of accommodating monetarist and Keynesian views, as Friedman's (1970) theoretical framework shows. ...
... to analyze both monetary and fiscal policy, in both full employment and unemployment modes; it can generate quantity theory or pure Keynesian results with only minor modifications. The model Is capable of accommodating monetarist and Keynesian views, as Friedman's (1970) theoretical framework shows. ...
Why GDP instead of GNP? From the historical perspective of view
... Why GDP instead of GNP? From the historical perspective of view, the growing number of countries by GDP instead of GNP as the new standard of the national accounting to re‡ect the trends of economic globalization. In the early establishment of national economic accounting system, labor and capital ‡ ...
... Why GDP instead of GNP? From the historical perspective of view, the growing number of countries by GDP instead of GNP as the new standard of the national accounting to re‡ect the trends of economic globalization. In the early establishment of national economic accounting system, labor and capital ‡ ...
UNIVERSITY OF VERMONT DEPARTMENT OF ECONOMICS Undergraduate Teaching Assistant (UTA):
... First, macroeconomics is taught in a building block fashion. In order to be able to understand the material as it becomes more complex throughout the semester, it will be important for you to master the tools learned early in the semester. Second, much of what I discuss in class in lectures is n ...
... First, macroeconomics is taught in a building block fashion. In order to be able to understand the material as it becomes more complex throughout the semester, it will be important for you to master the tools learned early in the semester. Second, much of what I discuss in class in lectures is n ...
Aggregate Demand & Aggregate Supply
... falls, US prices decrease relative to foreign prices, export spending increases while import spending decreases ...
... falls, US prices decrease relative to foreign prices, export spending increases while import spending decreases ...
State Government Revenue Recovery from the Great Recession
... Explanations for State Government Revenue Recovery In an attempt to explain these patterns we considered factors that one could argue are causal (e.g., growth in the state’s economy), and also in factors that are simply associated or correlated with revenue recovery. Any correlation coefficient grea ...
... Explanations for State Government Revenue Recovery In an attempt to explain these patterns we considered factors that one could argue are causal (e.g., growth in the state’s economy), and also in factors that are simply associated or correlated with revenue recovery. Any correlation coefficient grea ...
nsw independent trial exams – 2004
... level of national savings (as measured by the gross national savings rate) had increased to around 21% of GDP after falling to a low of 16% in 1992. By 2006-07 national savings as a percentage of GDP was approximately 20%. There has been a longstanding debate about the effects of reducing public d ...
... level of national savings (as measured by the gross national savings rate) had increased to around 21% of GDP after falling to a low of 16% in 1992. By 2006-07 national savings as a percentage of GDP was approximately 20%. There has been a longstanding debate about the effects of reducing public d ...