test #1 production possibilities / growth / circular flow
... e) to lower taxes and reduce the role of government 12) the circular flow of economic activity between consumers and producers includes which of the following I. households buy factor services from firms II. households sell factor services to firms III. households buy outputs from firms IV. househo ...
... e) to lower taxes and reduce the role of government 12) the circular flow of economic activity between consumers and producers includes which of the following I. households buy factor services from firms II. households sell factor services to firms III. households buy outputs from firms IV. househo ...
T C A B
... they are not exogenous shocks. Of course, if a behavioral equation predicts a change in policy that did not take place, then one can attribute the inaction to a negative shock to this relation. But the Depression was marked by governments and central banks acting in character, doing what they had be ...
... they are not exogenous shocks. Of course, if a behavioral equation predicts a change in policy that did not take place, then one can attribute the inaction to a negative shock to this relation. But the Depression was marked by governments and central banks acting in character, doing what they had be ...
FRBSF E L CONOMIC ETTER
... because there are always some workers who are between jobs or who have just entered the labor force and have yet to find a job.The natural rate cannot be directly observed, so it suffers from many of the same estimation problems as potential output. Some other labor market indicators imply a much sm ...
... because there are always some workers who are between jobs or who have just entered the labor force and have yet to find a job.The natural rate cannot be directly observed, so it suffers from many of the same estimation problems as potential output. Some other labor market indicators imply a much sm ...
Market for Loanable Funds
... have chosen to save and lend out, rather than use for their own consumption. ...
... have chosen to save and lend out, rather than use for their own consumption. ...
portable document (.pdf) format
... The goal of this paper was to examine the interrelationships among certain economic indicators in Nigeria by using the concept of Granger causality tests developed by Granger(1969). We used sixteen VAR models to test for Pairwise Granger (non) causality among the economic indicators and the followin ...
... The goal of this paper was to examine the interrelationships among certain economic indicators in Nigeria by using the concept of Granger causality tests developed by Granger(1969). We used sixteen VAR models to test for Pairwise Granger (non) causality among the economic indicators and the followin ...
- SlideBoom
... A. the supply of clothing has grown faster than the demand for clothing B. demand for clothing has grown faster than the supply of clothing C. the supply of and demand for clothing have grown by the same proportion D. there is no way to determine what has happened to supply and demand with this info ...
... A. the supply of clothing has grown faster than the demand for clothing B. demand for clothing has grown faster than the supply of clothing C. the supply of and demand for clothing have grown by the same proportion D. there is no way to determine what has happened to supply and demand with this info ...
Learning and Change in Twentieth-Century British Economic Policy
... Mark Blaug (1990, 25) has noted that within a decade of the publication of Keynes’s General Theory in 1936, most economists had been “converted to the Keynesian way of thinking” and, for Blaug, this academic “revolution” has very close parallels with a Kuhnian “scientific revolution” (see also Mehta ...
... Mark Blaug (1990, 25) has noted that within a decade of the publication of Keynes’s General Theory in 1936, most economists had been “converted to the Keynesian way of thinking” and, for Blaug, this academic “revolution” has very close parallels with a Kuhnian “scientific revolution” (see also Mehta ...
Chapter 36 MC — Five Debates Over Macroeconomic Policy
... ANS: B PTS: 1 DIF: 1 REF: 36-1 TOP: Stabilization policy MSC: Interpretive 23. Which of the following is correct? a. economic forecasts are precise and aggregate spending responds almost immediately to interest rate changes. b. economic forecast are precise and aggregate spending responds to interes ...
... ANS: B PTS: 1 DIF: 1 REF: 36-1 TOP: Stabilization policy MSC: Interpretive 23. Which of the following is correct? a. economic forecasts are precise and aggregate spending responds almost immediately to interest rate changes. b. economic forecast are precise and aggregate spending responds to interes ...
Openness in goods markets
... United States is characterized by: The U.S. economy is becoming more open over time, and trades more than twice as much (relative to its GDP) with the rest of the world as it did just 40 years ago. Although imports and exports have followed broadly the same upward trend, they have also diverged ...
... United States is characterized by: The U.S. economy is becoming more open over time, and trades more than twice as much (relative to its GDP) with the rest of the world as it did just 40 years ago. Although imports and exports have followed broadly the same upward trend, they have also diverged ...
Lecture 15: AD-AS
... Increase in spending on new hospitals Decrease in the supply of money (higher ...
... Increase in spending on new hospitals Decrease in the supply of money (higher ...
Mankiw 6e PowerPoints
... (M/P)d = real money demand, depends negatively on i i is the opp. cost of holding money positively on Y higher Y more spending so, need more money (“L” is used for the money demand function because money is the most liquid asset.) CHAPTER 4 Money and Inflation ...
... (M/P)d = real money demand, depends negatively on i i is the opp. cost of holding money positively on Y higher Y more spending so, need more money (“L” is used for the money demand function because money is the most liquid asset.) CHAPTER 4 Money and Inflation ...
Money and the Transmission Mechanism in the Optimizing IS
... seems far removed from IS-LM.” The last few years, however, have seen significant dissension from these conclusions,1 with Kerr and King (1996), Rotemberg and Woodford (1997), and McCallum and Nelson (1999a) offering small-scale macroeconomic models which are grounded in optimizing behavior, but whi ...
... seems far removed from IS-LM.” The last few years, however, have seen significant dissension from these conclusions,1 with Kerr and King (1996), Rotemberg and Woodford (1997), and McCallum and Nelson (1999a) offering small-scale macroeconomic models which are grounded in optimizing behavior, but whi ...
An Empirical Assessment of Optimal Monetary Policy Delegation in
... which lasted until the …nancial crisis. These subtle policy shifts are not so easily discerned from estimates based on ad hoc simple rules. The estimates also suggest that while good luck is more important than good policy in explaining the Great Moderation in the US, an ability to commit would have ...
... which lasted until the …nancial crisis. These subtle policy shifts are not so easily discerned from estimates based on ad hoc simple rules. The estimates also suggest that while good luck is more important than good policy in explaining the Great Moderation in the US, an ability to commit would have ...
1. Business cycles are: A) regular and predictable. B) irregular but
... 8. Aggregate supply is the relationship between the quantity of goods and services supplied and the: A) money supply. B) unemployment rate. C) interest rate. D) price level. 9. If the short‐run aggregate supply curve is horizontal, then changes in aggregate demand affect: A) level of output but not ...
... 8. Aggregate supply is the relationship between the quantity of goods and services supplied and the: A) money supply. B) unemployment rate. C) interest rate. D) price level. 9. If the short‐run aggregate supply curve is horizontal, then changes in aggregate demand affect: A) level of output but not ...
Unit 6 - BCPSS
... Explain how the Consumer Price Index (CPI), the unemployment rate and the Gross Domestic Product (GDP) measure economic performance (4.1.4 h) Explain how economic instability, including periods of growth and recession is a part of the free enterprise system (4.1.4 i) Explain how inflation reduces bu ...
... Explain how the Consumer Price Index (CPI), the unemployment rate and the Gross Domestic Product (GDP) measure economic performance (4.1.4 h) Explain how economic instability, including periods of growth and recession is a part of the free enterprise system (4.1.4 i) Explain how inflation reduces bu ...
Fiscal Policy and Macroeconomic Stability in Nigeria
... In his words, Ocampo (2005) posited that the concept of macroeconomic stability has undergone considerable changes in the economic discourse over the past decades. During the post-war years dominated by Keynesian thinking, macroeconomic stability basically meant a mix of external and internal balanc ...
... In his words, Ocampo (2005) posited that the concept of macroeconomic stability has undergone considerable changes in the economic discourse over the past decades. During the post-war years dominated by Keynesian thinking, macroeconomic stability basically meant a mix of external and internal balanc ...
I Economic outlook, key assumptions, and main uncertainties
... The expectation of more rapid output growth stems from the assumption that there is greater momentum in the economy, mainly because of the outlook for stronger export growth than previously assumed, but also because the new National Budget provides for more fiscal easing than had been anticipated. R ...
... The expectation of more rapid output growth stems from the assumption that there is greater momentum in the economy, mainly because of the outlook for stronger export growth than previously assumed, but also because the new National Budget provides for more fiscal easing than had been anticipated. R ...
NBER WORKING PAPER SERIES MARKETS Rahul Anand
... monetary policy. For instance, it has been posited that a narrow version of inflation targeting (IT) could pose risks if it implies that potential asset bubbles are ignored by central banks. The emerging consensus appears to be that the IT framework has delivered price stability and should be retain ...
... monetary policy. For instance, it has been posited that a narrow version of inflation targeting (IT) could pose risks if it implies that potential asset bubbles are ignored by central banks. The emerging consensus appears to be that the IT framework has delivered price stability and should be retain ...
Unemployment
... New Goods Bias New goods that were not available in the base year appear and, if they are more expensive than the goods they replace, they put an upward bias into the CPI. Quality Change Bias Quality improvements occur every year. Part of the rise in the price is payment for improved quality and is ...
... New Goods Bias New goods that were not available in the base year appear and, if they are more expensive than the goods they replace, they put an upward bias into the CPI. Quality Change Bias Quality improvements occur every year. Part of the rise in the price is payment for improved quality and is ...
Monetary policy
Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.Further goals of a monetary policy are usually to contribute to economic growth and stability, to lower unemployment, and to maintain predictable exchange rates with other currencies.Monetary economics provides insight into how to craft optimal monetary policy.Monetary policy is referred to as either being expansionary or contractionary, where an expansionary policy increases the total supply of money in the economy more rapidly than usual, and contractionary policy expands the money supply more slowly than usual or even shrinks it. Expansionary policy is traditionally used to try to combat unemployment in a recession by lowering interest rates in the hope that easy credit will entice businesses into expanding. Contractionary policy is intended to slow inflation in order to avoid the resulting distortions and deterioration of asset values.Monetary policy differs from fiscal policy, which refers to taxation, government spending, and associated borrowing.