EcoNZ - University of Otago
... force, increasing the quantity of labour supplied. However, as the cost of hiring workers significantly increased, profit-maximising firms hired fewer employees than they would have done at the equilibrium wage to ensure that their marginal costs did not exceed their marginal revenues. With the labo ...
... force, increasing the quantity of labour supplied. However, as the cost of hiring workers significantly increased, profit-maximising firms hired fewer employees than they would have done at the equilibrium wage to ensure that their marginal costs did not exceed their marginal revenues. With the labo ...
Economic Development
... • GDP is the best single measure of the economic well-being of a society. • GDP per person tells us the income and expenditure of the average person in the economy. • Higher GDP per person indicates a higher standard of living. • GDP is not a perfect measure of the happiness or quality of life, howe ...
... • GDP is the best single measure of the economic well-being of a society. • GDP per person tells us the income and expenditure of the average person in the economy. • Higher GDP per person indicates a higher standard of living. • GDP is not a perfect measure of the happiness or quality of life, howe ...
US: thinking about the next US recession - 1
... supply shocks may be less of a problem now than in the past, as the domestic shale oil industry has made the US less dependent on oil imports. It has become easier to expand supply in the short run, due to the shale oil fields that have already been developed and the improvement in technologies to f ...
... supply shocks may be less of a problem now than in the past, as the domestic shale oil industry has made the US less dependent on oil imports. It has become easier to expand supply in the short run, due to the shale oil fields that have already been developed and the improvement in technologies to f ...
Economics and Policy
... A new sewage treatment facility reached capacity in 3 years Poor Mexicans suffer most from contaminated water, disease, and industrial waste Economics People say protection threatens economic growth Environmental protection is actually good for the economy Economics studies how people use resources ...
... A new sewage treatment facility reached capacity in 3 years Poor Mexicans suffer most from contaminated water, disease, and industrial waste Economics People say protection threatens economic growth Environmental protection is actually good for the economy Economics studies how people use resources ...
ARE WE REALLY THE FASTEST GROWING MAJOR ECONOMY?
... Recently a US Congress report was also unable to digest such high figures amidst these economic conditions. Fudging the data will only cause illusion and the bubble may burst sooner or later. Global investors use GDP numbers to allocate their investment allocations between countries. Indicators such ...
... Recently a US Congress report was also unable to digest such high figures amidst these economic conditions. Fudging the data will only cause illusion and the bubble may burst sooner or later. Global investors use GDP numbers to allocate their investment allocations between countries. Indicators such ...
chap016Answers
... Monetary policy is easier to undertake for a number of reasons. Decisions are made by a small number of (generally like-minded) people (the Board of Governors and FOMC). Fiscal policy decisions require the support of Congress, the Senate, and the President, all with their own agendas and constituent ...
... Monetary policy is easier to undertake for a number of reasons. Decisions are made by a small number of (generally like-minded) people (the Board of Governors and FOMC). Fiscal policy decisions require the support of Congress, the Senate, and the President, all with their own agendas and constituent ...
AP Economics Study Guide Chapter 10
... A) increase domestic aggregate expenditures and the equilibrium level of GDP. B) decrease domestic aggregate expenditures and the equilibrium level of GDP. C) have no effect on domestic GDP because imports will offset the change in exports. D) decrease the marginal propensity to import. ...
... A) increase domestic aggregate expenditures and the equilibrium level of GDP. B) decrease domestic aggregate expenditures and the equilibrium level of GDP. C) have no effect on domestic GDP because imports will offset the change in exports. D) decrease the marginal propensity to import. ...
Special Debate Section Beware the Fallacy of Productivity Reductionism Andrew M. Fischer
... to shift the global agenda towards a much more progressive politics. It revives an older tradition of structuralist analysis in combination with seminal advocacy for universalistic agendas in poverty alleviation and social policy. On these matters, the report offers vision and perspective to the mai ...
... to shift the global agenda towards a much more progressive politics. It revives an older tradition of structuralist analysis in combination with seminal advocacy for universalistic agendas in poverty alleviation and social policy. On these matters, the report offers vision and perspective to the mai ...
Chapter 1 – Introduction – Michael Howlett (SFU) and Keith Brownsey
... A staple refers to a raw, or unfinished bulk commodity product which is sold in export markets. Timber, fish and minerals are staples, usually extracted and sold in external markets without significant amounts of processing.ii The significance of having an economy based on exporting unfinished bulk ...
... A staple refers to a raw, or unfinished bulk commodity product which is sold in export markets. Timber, fish and minerals are staples, usually extracted and sold in external markets without significant amounts of processing.ii The significance of having an economy based on exporting unfinished bulk ...
Business Essentials, 7th Edition Ebert/Griffin
... Economic Growth (cont.) • Balance of Trade – The economic value of all the products a country exports minus the economic value of its imported products. • Positive balance of trade: When a country exports (sells to other countries) more than it imports (buys from other countries). • Negative balanc ...
... Economic Growth (cont.) • Balance of Trade – The economic value of all the products a country exports minus the economic value of its imported products. • Positive balance of trade: When a country exports (sells to other countries) more than it imports (buys from other countries). • Negative balanc ...
Asset Bubbles and Their Consequences No. 103 May 20, 2008 Executive Summary
... implicit guarantees to investors. At one time, deposit insurance was a major culprit. Today, monetary policy is fostering moral hazard. Monetary policy can generate moral hazard if it is conducted in a manner that bails investors out of risky and otherwise ill-advised financial commitments. If inves ...
... implicit guarantees to investors. At one time, deposit insurance was a major culprit. Today, monetary policy is fostering moral hazard. Monetary policy can generate moral hazard if it is conducted in a manner that bails investors out of risky and otherwise ill-advised financial commitments. If inves ...
The (New) Midwest Economy Index M h d F d U Method, Features
... Weighted average of 134 state/regional indicators of activity Weights capture relative importance to historical fluctuations Smoothed measure – equivalent to 3-month MA 4 broad sectors of the Midwest economy: ...
... Weighted average of 134 state/regional indicators of activity Weights capture relative importance to historical fluctuations Smoothed measure – equivalent to 3-month MA 4 broad sectors of the Midwest economy: ...
Equilibrium in Aggregate Economy Equilibrium in the Aggregate
... Fiscal Policy • There is no guarantee that government will do what the economy needs to be done. – Implementing government spending and tax changes is a slow legislative process. – Government spending and tax decisions are made for political rather than for economic reasons. ...
... Fiscal Policy • There is no guarantee that government will do what the economy needs to be done. – Implementing government spending and tax changes is a slow legislative process. – Government spending and tax decisions are made for political rather than for economic reasons. ...
2. Impacts of the global financial crisis and government response
... increased to 7.7% in the fourth quarter of 2009, from the 3.1% level registered in the first quarter, 4.4% and 5.2% in the second and third quarters. Pursuing such an expansionary policy puts extra-ordinary pressure on the economy and it is unclear how much longer the current extraordinary stance of ...
... increased to 7.7% in the fourth quarter of 2009, from the 3.1% level registered in the first quarter, 4.4% and 5.2% in the second and third quarters. Pursuing such an expansionary policy puts extra-ordinary pressure on the economy and it is unclear how much longer the current extraordinary stance of ...
The Suriname economy: experiences of the 1990s and
... combined contributions of the bauxite and oil sectors to GDP. Standard and Poor’s (2000) estimate the share of the gold sector at 20 per cent of GDP1. Probably about 15,000-25,000 people are estimated to be directly involved in small-scale gold production and over half of them are garimpeiros from B ...
... combined contributions of the bauxite and oil sectors to GDP. Standard and Poor’s (2000) estimate the share of the gold sector at 20 per cent of GDP1. Probably about 15,000-25,000 people are estimated to be directly involved in small-scale gold production and over half of them are garimpeiros from B ...
EquilibriuminAggregateEconomy
... Fiscal Policy • There is no guarantee that government will do what the economy needs to be done. – Implementing government spending and tax changes is a slow legislative process. – Government spending and tax decisions are made for political rather than for economic reasons. ...
... Fiscal Policy • There is no guarantee that government will do what the economy needs to be done. – Implementing government spending and tax changes is a slow legislative process. – Government spending and tax decisions are made for political rather than for economic reasons. ...
Prof. Ashenmiller: Economics 101: Exam 3 Sample Questions
... measure the economic well-being of a country over time, which of these should we look at? Nominal GDP measures the final value of current goods and services at current prices. Real GDP measures the final value of goods and services at constant prices. Over time we should look at real GDP. b) Over ti ...
... measure the economic well-being of a country over time, which of these should we look at? Nominal GDP measures the final value of current goods and services at current prices. Real GDP measures the final value of goods and services at constant prices. Over time we should look at real GDP. b) Over ti ...
Macroeconomic Implications of Profit Sharing
... economy might not always be in equilibriumdue to "temporaryderangement of markets"(Mill)or "crisesof confidence"(Marshall).Old classical macroeconomistsalso felt some obligation to explain how an economy out of equilibriumgets back into equilibrium (as opposed to tautologically postulating that an e ...
... economy might not always be in equilibriumdue to "temporaryderangement of markets"(Mill)or "crisesof confidence"(Marshall).Old classical macroeconomistsalso felt some obligation to explain how an economy out of equilibriumgets back into equilibrium (as opposed to tautologically postulating that an e ...
Mankiw 6e PowerPoints
... Draw the diagram for the loanable funds model. Suppose the tax laws are altered to provide more incentives for work, such that L ↑ (Assume that total tax revenue T does not change and G does not change) ...
... Draw the diagram for the loanable funds model. Suppose the tax laws are altered to provide more incentives for work, such that L ↑ (Assume that total tax revenue T does not change and G does not change) ...
as a PDF
... policy instrument for macroeconomic stabilisation. It is relevant, since there are several warning signals that suggest that the probability of an economic slowdown has increased. Although there are elements that are common to other member countries of EMU, Ireland is a special case in many ways in ...
... policy instrument for macroeconomic stabilisation. It is relevant, since there are several warning signals that suggest that the probability of an economic slowdown has increased. Although there are elements that are common to other member countries of EMU, Ireland is a special case in many ways in ...
Capital and labour from centre to margins
... foremost a reflection of the inability of world capitalism as instituted under US hegemony to deliver on the promises of a Global New Deal’. This led to ‘a liquidation of the labour-friendly and development-friendly international regime of the preceding thirty years in favour of a capital-friendly r ...
... foremost a reflection of the inability of world capitalism as instituted under US hegemony to deliver on the promises of a Global New Deal’. This led to ‘a liquidation of the labour-friendly and development-friendly international regime of the preceding thirty years in favour of a capital-friendly r ...
RAISING MINIMUM WAGE
... of $7.25. Even though Congress sets minimum wage, Congress does not have it keep pace with inflation. Some suggest that only teens make minimum wage, but it affects those 20 years and older and 55% are women. What about tipped employees? Minimum wage is set for them at $2.13 an hour. That amount plu ...
... of $7.25. Even though Congress sets minimum wage, Congress does not have it keep pace with inflation. Some suggest that only teens make minimum wage, but it affects those 20 years and older and 55% are women. What about tipped employees? Minimum wage is set for them at $2.13 an hour. That amount plu ...
Keynesianism, Pennsylvania-Avenue Style: Some Economic
... depressions are] not simply evils, which we might attempt to suppress, but…forms of something which has to be done, namely, adjustment to…change... [and] most of what would be effective in remedying a depression would be equally effective in preventing this adjustment. (See Brown, 1934). ...
... depressions are] not simply evils, which we might attempt to suppress, but…forms of something which has to be done, namely, adjustment to…change... [and] most of what would be effective in remedying a depression would be equally effective in preventing this adjustment. (See Brown, 1934). ...