Learning Objectives
... A) Gross domestic product (GDP) is the value of goods and services produced by a country’s factors of production, regardless of where these factors are based. Gross national product (GNP) is the total value of final goods and services produced in a country in a given year. B) Gross domestic product ...
... A) Gross domestic product (GDP) is the value of goods and services produced by a country’s factors of production, regardless of where these factors are based. Gross national product (GNP) is the total value of final goods and services produced in a country in a given year. B) Gross domestic product ...
Allen County Insight
... if the national economy is growing, and if so, at what pace. For example, U.S. GDP is estimated to have grown by 2.2 percent in 2012 according to the U.S. Bureau of Economic Analysis. How can this tool also be used to measure changes in the local economy? Until recently, GDP information was not read ...
... if the national economy is growing, and if so, at what pace. For example, U.S. GDP is estimated to have grown by 2.2 percent in 2012 according to the U.S. Bureau of Economic Analysis. How can this tool also be used to measure changes in the local economy? Until recently, GDP information was not read ...
Unemployment Rate - The University of Chicago Booth School of
... “The gross national product does not allow for the health of our children, the quality of their education, or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate or the integrity of our public officials. It measu ...
... “The gross national product does not allow for the health of our children, the quality of their education, or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate or the integrity of our public officials. It measu ...
Company Name
... This initial rise in consumer spending will lead to a series of subsequent rounds in which real GDP, disposable income, and consumer spending ...
... This initial rise in consumer spending will lead to a series of subsequent rounds in which real GDP, disposable income, and consumer spending ...
CH03
... G) Application: weekly hours of work and the wealth of nations 1. In 1869 the average workweek in manufacturing was 56 hours; it’s now about 40 2. The main reason for the decline is a permanent increase in the real wage, due to technological innovation and increased productivity 3. Although the work ...
... G) Application: weekly hours of work and the wealth of nations 1. In 1869 the average workweek in manufacturing was 56 hours; it’s now about 40 2. The main reason for the decline is a permanent increase in the real wage, due to technological innovation and increased productivity 3. Although the work ...
Bank capital, the state contingency of banks` assets and its role for
... We draw on a New Keyesian dynamic stochstic general equilibrium model developed by Gertler and Karadi (2011). We modify this model in one particular respect: We introduce in addition to the state-contingent a non-state-contingent asset. For doing so, we assume that there are two different capital-pr ...
... We draw on a New Keyesian dynamic stochstic general equilibrium model developed by Gertler and Karadi (2011). We modify this model in one particular respect: We introduce in addition to the state-contingent a non-state-contingent asset. For doing so, we assume that there are two different capital-pr ...
solutions - Department of Economics
... be favouring a deficit resulting from expansionary fiscal policy. The government’s economic update that followed a few days later showed that Harper was not much in support of running any type of deficit even under the difficult present economic circumstances. What policy options are available to th ...
... be favouring a deficit resulting from expansionary fiscal policy. The government’s economic update that followed a few days later showed that Harper was not much in support of running any type of deficit even under the difficult present economic circumstances. What policy options are available to th ...
the european union
... By employment, 28 per cent of the labour force is employed in this sector. Although the labour force is expensive, it is highly skilled. As a whole, Western Europe is industrially and technologically more advanced than Eastern Europe. The most important industries in the European Union are: iron and ...
... By employment, 28 per cent of the labour force is employed in this sector. Although the labour force is expensive, it is highly skilled. As a whole, Western Europe is industrially and technologically more advanced than Eastern Europe. The most important industries in the European Union are: iron and ...
paper
... apparent in‡ation-unemployment trade-o¤ for economic policy have not been very successful. The dynamic economy we consider is composed of overlapping-generations consumers, producers and a government who interact in a labor and a consumption goods market. Trades take place in each period even when p ...
... apparent in‡ation-unemployment trade-o¤ for economic policy have not been very successful. The dynamic economy we consider is composed of overlapping-generations consumers, producers and a government who interact in a labor and a consumption goods market. Trades take place in each period even when p ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Rational Expectations and Economic Policy
... Rather than characterizing the rule that is best in the cost-benefit sense of modern public finance, principles are sought for the design of policy rules that do well in terms of this criterion. This is done for three reasons. First, the policy that is best, relative to the specified objective, may ...
... Rather than characterizing the rule that is best in the cost-benefit sense of modern public finance, principles are sought for the design of policy rules that do well in terms of this criterion. This is done for three reasons. First, the policy that is best, relative to the specified objective, may ...
DP2003/04 Monetary policy transmission mechanisms and currency unions:
... of monetary policy shocks were not very different across EU countries. However, they found the effects to be larger in Germany than in other major EU countries. Dornbusch, Favero and Giavazzi (1998) found the effects of the short term interest rates on output to be about twice as high in Italy and a ...
... of monetary policy shocks were not very different across EU countries. However, they found the effects to be larger in Germany than in other major EU countries. Dornbusch, Favero and Giavazzi (1998) found the effects of the short term interest rates on output to be about twice as high in Italy and a ...
Review Packet
... law is that some economic resources are not completely adaptable to alternative uses, so the resources will yield less of one product. Shifts in this curve can be caused by increases in resource supplies or advances in technology. Also, if an economy favors “future goods” (technology, etc), the curv ...
... law is that some economic resources are not completely adaptable to alternative uses, so the resources will yield less of one product. Shifts in this curve can be caused by increases in resource supplies or advances in technology. Also, if an economy favors “future goods” (technology, etc), the curv ...
Slovak Macroeconomic Outlook
... Eurozone recovery based on both domestic demand and exports. Demand up due to the ECB’s very accommodative monetary policy. Output gap still negative, should close only in 2019. Euro area exports are also projected to strengthen over the projection horizon (an expected recovery in global trade and t ...
... Eurozone recovery based on both domestic demand and exports. Demand up due to the ECB’s very accommodative monetary policy. Output gap still negative, should close only in 2019. Euro area exports are also projected to strengthen over the projection horizon (an expected recovery in global trade and t ...
Evaluation of Economic Transformation in Hungary
... Bethkenhagen (1989) wrote that private sector had created 3% of national product in 1970. In 1989 it created already more than one quarter (Holman, 2000) and two thirds of Hungarians had an income from private activity in addition to their main jobs in a state company or a cooperative. These numbers ...
... Bethkenhagen (1989) wrote that private sector had created 3% of national product in 1970. In 1989 it created already more than one quarter (Holman, 2000) and two thirds of Hungarians had an income from private activity in addition to their main jobs in a state company or a cooperative. These numbers ...
Lecture 18
... 1. What is the total money supply? 2. What is the equilibrium interest rate? 3. What is the equilibrium level of national income? NOW Suppose: YFE=$9,600. 4. Should the FED buy or sell securities to achieve this goal? How much (give a dollar figure) should the FED buy or sell? ...
... 1. What is the total money supply? 2. What is the equilibrium interest rate? 3. What is the equilibrium level of national income? NOW Suppose: YFE=$9,600. 4. Should the FED buy or sell securities to achieve this goal? How much (give a dollar figure) should the FED buy or sell? ...
III. National Income and Price Discrimination (10
... Size of the Existing Stock of Physical Capital. Firms plan to invest in physical capital when the stock is being depleted or is insufficient to meet demand for their products. o If firms have plenty of physical capital already, investment spending will decrease. o If firms lack physical capital, inv ...
... Size of the Existing Stock of Physical Capital. Firms plan to invest in physical capital when the stock is being depleted or is insufficient to meet demand for their products. o If firms have plenty of physical capital already, investment spending will decrease. o If firms lack physical capital, inv ...
DOC - World bank documents
... economy will be overheated and very inflationary. Indeed, only at the peak of the bubble economy in the late 1990, the actual GDP moved closer to this potential level. However, we can use the growth rate of potential GDP as an indicator of trend growth rate for Japan. Moreover the potential GDP is i ...
... economy will be overheated and very inflationary. Indeed, only at the peak of the bubble economy in the late 1990, the actual GDP moved closer to this potential level. However, we can use the growth rate of potential GDP as an indicator of trend growth rate for Japan. Moreover the potential GDP is i ...
Talking Points Presentation - Federal Reserve Bank of St. Louis
... employment stability, which are measured by employment and unemployment statistics and with price indices such as the CPI. 4. Economic equity refers to a more-equal distribution of goods and services to citizens. 5. Economic freedom refers to the ability of people in the society to decide the follow ...
... employment stability, which are measured by employment and unemployment statistics and with price indices such as the CPI. 4. Economic equity refers to a more-equal distribution of goods and services to citizens. 5. Economic freedom refers to the ability of people in the society to decide the follow ...
the-crisis-and-keynesian-policies
... The idea that profits depend on investment is back to front. For Marxists, it is the other way round: investment depends on profit. And profit depends on the exploitation of labour power and its appropriation by capital. Thus we have an objective causal analysis based on a specific form of class soc ...
... The idea that profits depend on investment is back to front. For Marxists, it is the other way round: investment depends on profit. And profit depends on the exploitation of labour power and its appropriation by capital. Thus we have an objective causal analysis based on a specific form of class soc ...
Document
... investment interact with the multiplier to propel the economy to an inflationary boom. • The theory suggests that a market-directed economy, left to its own devices, will tend to fluctuate between economic recession and ...
... investment interact with the multiplier to propel the economy to an inflationary boom. • The theory suggests that a market-directed economy, left to its own devices, will tend to fluctuate between economic recession and ...
Fall 2014 Economic Rulers
... capita GDP Per capita GDP: GDP divided by the size of the population; it is equivalent to the average GDP per person -- the greater inequality that exists in income distribution, the less likely that per capita GDP will correspond to the “typical” person’s share of GDP (still standard and best measu ...
... capita GDP Per capita GDP: GDP divided by the size of the population; it is equivalent to the average GDP per person -- the greater inequality that exists in income distribution, the less likely that per capita GDP will correspond to the “typical” person’s share of GDP (still standard and best measu ...
Questions Chapter 14
... inclusion in the euro could force fiscal discipline on members wishing to use the euro as a currency. There are three arguments against the euro as well. First, the members of the union give up independent monetary policy to the European Central Bank. This is important if shocks do not impact all co ...
... inclusion in the euro could force fiscal discipline on members wishing to use the euro as a currency. There are three arguments against the euro as well. First, the members of the union give up independent monetary policy to the European Central Bank. This is important if shocks do not impact all co ...
Avoiding Middle-Income Growth Traps
... the reasons why productivity growth may weaken and what type of public policies can help avoid such a slow-growth equilibrium. In particular, several factors may affect productivity growth, including individual decisions to acquire skills, access to different types of public infrastructure, and know ...
... the reasons why productivity growth may weaken and what type of public policies can help avoid such a slow-growth equilibrium. In particular, several factors may affect productivity growth, including individual decisions to acquire skills, access to different types of public infrastructure, and know ...
Impact of Shocks to Aggregate Demand and Aggregate Supply on
... Definition of Dynamic General Equilibrium A dynamic competitive equilibrium is a of sequences of prices and quantities such that 1. households maximise intertemporal utility subject to their wealth constraint; 2. investors maximise intertemporal profits subject to arbitrage conditions in capital ma ...
... Definition of Dynamic General Equilibrium A dynamic competitive equilibrium is a of sequences of prices and quantities such that 1. households maximise intertemporal utility subject to their wealth constraint; 2. investors maximise intertemporal profits subject to arbitrage conditions in capital ma ...