“Classical” economic theory and “Keynesian
... The very act of producing goods generates an amount of income = to the value of the goods produced. “Supply Creates Its Own Demand” There will always be sufficient consumption Works as a “LONG RUN” view ...
... The very act of producing goods generates an amount of income = to the value of the goods produced. “Supply Creates Its Own Demand” There will always be sufficient consumption Works as a “LONG RUN” view ...
Here is the Powerpoint
... Problem: Who believes these statistics? Even Bigger Problem: Shadow financial sector How do unregulated financial sectors “self correct”?? – Through periodic crashes! ...
... Problem: Who believes these statistics? Even Bigger Problem: Shadow financial sector How do unregulated financial sectors “self correct”?? – Through periodic crashes! ...
Achieving Economic Stability
... 3. Macroeconomic Equilibrium: real GDP consistent with price levels as determined by the intersection of the supply & demand curve. ...
... 3. Macroeconomic Equilibrium: real GDP consistent with price levels as determined by the intersection of the supply & demand curve. ...
Recovery and boom in the business cycle
... provide an assessment of what the expected returns might be on these investment ideas. For example, they can use investment appraisal tools to determine how long it will take to pay back the cost of a new production line; or analyse which opportunities will yield the best results. Boom - A boom is a ...
... provide an assessment of what the expected returns might be on these investment ideas. For example, they can use investment appraisal tools to determine how long it will take to pay back the cost of a new production line; or analyse which opportunities will yield the best results. Boom - A boom is a ...
FedViews
... jumped noticeably in recent months. However, the same thing cannot be said of business sentiment in general. For instance, National Federation of Independent Business surveys show the shares of members planning capital expenditures over the next three to six months or expecting higher inflation-adju ...
... jumped noticeably in recent months. However, the same thing cannot be said of business sentiment in general. For instance, National Federation of Independent Business surveys show the shares of members planning capital expenditures over the next three to six months or expecting higher inflation-adju ...
The Four Phases of the Business Cycle
... least two consecutive quarters (six months)] as a decline in economic activity lasting at least six months. During a recession, real GDP falls, as do real wages, employment, profits, and production. Why does an expanding economy stop growing and start shrinking? There is no single answer to that que ...
... least two consecutive quarters (six months)] as a decline in economic activity lasting at least six months. During a recession, real GDP falls, as do real wages, employment, profits, and production. Why does an expanding economy stop growing and start shrinking? There is no single answer to that que ...
The Gathering Clouds of Recession* Prabhat Patnaik
... The world capitalist economy has been mired in stagnation and high unemployment ever since the 2008 financial crisis. Many were predicting that a turnaround was about to occur, partly because of the fact that the U.S. economy last month showed larger job creation than of late, and also because it ha ...
... The world capitalist economy has been mired in stagnation and high unemployment ever since the 2008 financial crisis. Many were predicting that a turnaround was about to occur, partly because of the fact that the U.S. economy last month showed larger job creation than of late, and also because it ha ...
GDP growth in 2015 was driven by a generous fiscal stimulus and
... new government's changes to remove macroeconomic imbalances. “GDP growth in 2015 was driven by a generous fiscal stimulus and buoyant activity in the construction and agriculture sectors. Economic activity has slowed in recent months, and although the suspension of publication of some key official s ...
... new government's changes to remove macroeconomic imbalances. “GDP growth in 2015 was driven by a generous fiscal stimulus and buoyant activity in the construction and agriculture sectors. Economic activity has slowed in recent months, and although the suspension of publication of some key official s ...
Growth in the US: A Macro and Global Perspective
... • Over-heating without contraction to low unemployment, high inflation ...
... • Over-heating without contraction to low unemployment, high inflation ...
Final1 - San Francisco State University
... a. An output of 60 guns and 70 roses is (circle the correct answer): i. Attainable and inefficient ii. Attainable and efficient iii. Unattainable and inefficient iv. Unattainable and efficient b. Suppose that Pandora initially produces at point A, and considers producing 30 more guns (i.e. moving to ...
... a. An output of 60 guns and 70 roses is (circle the correct answer): i. Attainable and inefficient ii. Attainable and efficient iii. Unattainable and inefficient iv. Unattainable and efficient b. Suppose that Pandora initially produces at point A, and considers producing 30 more guns (i.e. moving to ...
Economics on Main Street: Concepts for American Voters
... • if we spend like Canada and tax like Mexico . . . (current debate regarding extent of public sector) (starving the beast, or simply not paying our bills) ...
... • if we spend like Canada and tax like Mexico . . . (current debate regarding extent of public sector) (starving the beast, or simply not paying our bills) ...
EconPol.ppt
... KEYNESIAN ECONOMIC THEORY Business cycle fluctuations result from imbalances between aggregate demand and productive capacity • Aggregate demand is the total amount of money available in the economy to be spent on goods and services • Productive capacity is the total value of goods and services tha ...
... KEYNESIAN ECONOMIC THEORY Business cycle fluctuations result from imbalances between aggregate demand and productive capacity • Aggregate demand is the total amount of money available in the economy to be spent on goods and services • Productive capacity is the total value of goods and services tha ...
Macroeconomics Vocabulary Quiz
... 1. The total amount of goods and services consumers are willing to buy a. Demand b. Supply c. Aggregate demand d. Aggregate supply 2. The total supply of all the goods and services available in an economy a. Demand b. Supply c. Aggregate demand d. Aggregate supply 3. An economic measure of inflation ...
... 1. The total amount of goods and services consumers are willing to buy a. Demand b. Supply c. Aggregate demand d. Aggregate supply 2. The total supply of all the goods and services available in an economy a. Demand b. Supply c. Aggregate demand d. Aggregate supply 3. An economic measure of inflation ...
Warm-Up - Cloudfront.net
... Warm Up: True or False (If FALSE, make it into a true statement by changing the word(s) in yellow) ...
... Warm Up: True or False (If FALSE, make it into a true statement by changing the word(s) in yellow) ...
Uruguay_en.pdf
... In terms of fiscal policy, the most important measures were the amendment of the wealth tax to replace the tax on large holdings of rural real estate (ICIR), which was declared unconstitutional, and the extension to 2014 of the tax benefits for the tourism industry. The central government’s overall ...
... In terms of fiscal policy, the most important measures were the amendment of the wealth tax to replace the tax on large holdings of rural real estate (ICIR), which was declared unconstitutional, and the extension to 2014 of the tax benefits for the tourism industry. The central government’s overall ...
Economics, by R. Glenn Hubbard and Anthony Patrick O`Brien
... Web: http://www.sca.isr.umich.edu/main.php Minor revisions ...
... Web: http://www.sca.isr.umich.edu/main.php Minor revisions ...
as macro key term glossary - School
... The official 'base' rate of interest that is set by the Monetary Policy Committee and which, when changed, sends a signal to the rest of the financial markets about a desired change in the direction of other borrowing and savings interest rates. Repo is the rate of interest at which the Bank of Engl ...
... The official 'base' rate of interest that is set by the Monetary Policy Committee and which, when changed, sends a signal to the rest of the financial markets about a desired change in the direction of other borrowing and savings interest rates. Repo is the rate of interest at which the Bank of Engl ...
Presentation - International Development Economics Associates
... regimes, the exchange rate may become misaligned, if its actual value exhibits a sustained departure from that rate which is compatible with the internal and external equilibrium. ...
... regimes, the exchange rate may become misaligned, if its actual value exhibits a sustained departure from that rate which is compatible with the internal and external equilibrium. ...
Are turning points in the economy—recessions
... At one level, it is not too surprising that most forecasters missed the onset of the last recession.While the economy had been sluggish since the spring of 2001, GDP growth did not turn negative till the third quarter of 2001. Quite possibly, GDP would not have dropped in the absence of the Septembe ...
... At one level, it is not too surprising that most forecasters missed the onset of the last recession.While the economy had been sluggish since the spring of 2001, GDP growth did not turn negative till the third quarter of 2001. Quite possibly, GDP would not have dropped in the absence of the Septembe ...
CHAPTER 3
... – A period marked by a prolonged period of high unemployment, weak sales of goods and services, and business failures. • GDP falls rapidly during depression. ...
... – A period marked by a prolonged period of high unemployment, weak sales of goods and services, and business failures. • GDP falls rapidly during depression. ...
The Business Cycle
... business cycle. Recession is defined as two consecutive quarters (six months) of negative growth in real GDP. A severe recession is called a depression, but there is no specific definition of a depression. The point after which output starts to decline is called the peak of the business cycle, or th ...
... business cycle. Recession is defined as two consecutive quarters (six months) of negative growth in real GDP. A severe recession is called a depression, but there is no specific definition of a depression. The point after which output starts to decline is called the peak of the business cycle, or th ...
ECON-3.23-4.2.12 Business Cycles
... – average time from peak to trough is 18 months – average time from trough to next peak was 35 ...
... – average time from peak to trough is 18 months – average time from trough to next peak was 35 ...
PROSPECTS FOR 2002-2003 PROSPECTS FOR 2002
... remain at historically high levels relative to earnings. The saving rate will rise and consumption expenditure will fall if stock prices fall to normal long term level. ...
... remain at historically high levels relative to earnings. The saving rate will rise and consumption expenditure will fall if stock prices fall to normal long term level. ...
Unemployment since 2000 GDP growth Inflation since 1920 UK
... rate of change of the consumer price index). Figure 3 shows the time path for this since 2004. The government has set a target for the inflation rate of 2% per annum, and the Monetary Policy Committee of the Bank of England has responsibility for meeting the target. The main instrument for achieving ...
... rate of change of the consumer price index). Figure 3 shows the time path for this since 2004. The government has set a target for the inflation rate of 2% per annum, and the Monetary Policy Committee of the Bank of England has responsibility for meeting the target. The main instrument for achieving ...