Macro Spectrum
... would enable them to compute perfectly the relative prices they care about, agents make errors…[A]gents temporarily mistake a general increase in all absolute prices as an increase in the relative price of the good they are selling, leading them to increase their supply of that good…Since everyone i ...
... would enable them to compute perfectly the relative prices they care about, agents make errors…[A]gents temporarily mistake a general increase in all absolute prices as an increase in the relative price of the good they are selling, leading them to increase their supply of that good…Since everyone i ...
Study Questions for Section 4
... explained. That’s when the concept of expectations and the shifting of the Phillips curve was introduced. 2) d. Modern theory PC theory suggests that rising unemployment can be avoided when there’s disinflation if people adjust their inflation expectation lower. That must not have happened in this c ...
... explained. That’s when the concept of expectations and the shifting of the Phillips curve was introduced. 2) d. Modern theory PC theory suggests that rising unemployment can be avoided when there’s disinflation if people adjust their inflation expectation lower. That must not have happened in this c ...
I) Inflation
... the general level of prices. The value of currency is constantly decreasing. Conversely, prices of all consumer goods are constantly increasing. ...
... the general level of prices. The value of currency is constantly decreasing. Conversely, prices of all consumer goods are constantly increasing. ...
Chapter 1 A Brief Economic History of the United States The
... brought the country together into a huge social and economic unit • This made it possible to go almost anywhere in the U.S. by train except in the south (i.e., transcontinental lines by-passed the south – This severely retarded its economic development well into the 20th century ...
... brought the country together into a huge social and economic unit • This made it possible to go almost anywhere in the U.S. by train except in the south (i.e., transcontinental lines by-passed the south – This severely retarded its economic development well into the 20th century ...
A Brief Economic History of the United States
... brought the country together into a huge social and economic unit • This made it possible to go almost anywhere in the U.S. by train except in the south (i.e., transcontinental lines by-passed the south – This severely retarded its economic development well into the 20th century ...
... brought the country together into a huge social and economic unit • This made it possible to go almost anywhere in the U.S. by train except in the south (i.e., transcontinental lines by-passed the south – This severely retarded its economic development well into the 20th century ...
Chapter 006 notes
... liberal democracies faced a slowdown in the economy (recession) and inflation - Stagflation British PM Callaghan realized that they could no longer spend their way out of recession (Keynesian economics wasn’t working!!) A New Way of thinking: Monetarism Recession of 1970s led to a pendulum swi ...
... liberal democracies faced a slowdown in the economy (recession) and inflation - Stagflation British PM Callaghan realized that they could no longer spend their way out of recession (Keynesian economics wasn’t working!!) A New Way of thinking: Monetarism Recession of 1970s led to a pendulum swi ...
Demand Pull Inflation
... This inflation occurs when household, business, government and foreign industries collectively try to purchase more output than the economy is capable of producing. In effect, the demand side of the aggregate market is pulling the price level higher ...
... This inflation occurs when household, business, government and foreign industries collectively try to purchase more output than the economy is capable of producing. In effect, the demand side of the aggregate market is pulling the price level higher ...
Inflation, Deflation and Stagflation
... If the general level of prices falls and as a result thereof, the value of money increases, it is called deflation in economics. Deflation is just the opposite of inflation. ...
... If the general level of prices falls and as a result thereof, the value of money increases, it is called deflation in economics. Deflation is just the opposite of inflation. ...
Chapter12-Multiple Choice Questions on Inflation
... 5. A cost-push inflation spiral results if the Fed's response to stagflation is to keep A) decreasing aggregate demand. B) decreasing aggregate supply. C) increasing aggregate demand. D) increasing aggregate supply. 6. For a cost-push inflation to occur, oil price increases must be accompanied by A) ...
... 5. A cost-push inflation spiral results if the Fed's response to stagflation is to keep A) decreasing aggregate demand. B) decreasing aggregate supply. C) increasing aggregate demand. D) increasing aggregate supply. 6. For a cost-push inflation to occur, oil price increases must be accompanied by A) ...
Short-run Causes: Demand-pull and Cost-push
... higher wages increase production costs. Demand-pull inflation is often associated with an expanding economy, or an economic boom. Cost-push inflation is caused by a supply shock with a result of increasing prices correlated with decreasing GDP. A supply shock is a sudden increase in the price of res ...
... higher wages increase production costs. Demand-pull inflation is often associated with an expanding economy, or an economic boom. Cost-push inflation is caused by a supply shock with a result of increasing prices correlated with decreasing GDP. A supply shock is a sudden increase in the price of res ...
2006 was an outstanding year for share investors, with
... The recent acceleration in inflation around the world, driven as it has been by rising energy and food prices, in the context of a clear slowing in the rate of global economic growth, has put the concept of ‘stagflation’ back into the vocabulary of contemporary economic discourse. ‘Stagflation’ refe ...
... The recent acceleration in inflation around the world, driven as it has been by rising energy and food prices, in the context of a clear slowing in the rate of global economic growth, has put the concept of ‘stagflation’ back into the vocabulary of contemporary economic discourse. ‘Stagflation’ refe ...
OCM 2012 Spring Folio - Q4 Wealth Management
... numbers. Housing in all of North Dakota is difficult to come by and prices are rising rapidly, while in Stockton, CA you can find homes selling well below what they would cost to build. We see the same pattern within individual states. In Texas, Austin housing is appreciating and supply is tight, bu ...
... numbers. Housing in all of North Dakota is difficult to come by and prices are rising rapidly, while in Stockton, CA you can find homes selling well below what they would cost to build. We see the same pattern within individual states. In Texas, Austin housing is appreciating and supply is tight, bu ...
Objectives - Heard County High School
... Price Index (CPI), inflation, stagflation, and aggregate supply and aggregate demand. c. Explain how economic growth, inflation, and unemployment are calculated. d. Identify structural, cyclical, and frictional unemployment. e. Define the stages of the business cycle, as well as recession and depres ...
... Price Index (CPI), inflation, stagflation, and aggregate supply and aggregate demand. c. Explain how economic growth, inflation, and unemployment are calculated. d. Identify structural, cyclical, and frictional unemployment. e. Define the stages of the business cycle, as well as recession and depres ...
Keynes vs. Hayek Notes
... • The government’s power to influence the economy is limited and often ineffective • Consumers, business leaders, and investors are intelligent decision makers and take the effects of government policies into account in deciding on their ...
... • The government’s power to influence the economy is limited and often ineffective • Consumers, business leaders, and investors are intelligent decision makers and take the effects of government policies into account in deciding on their ...
Macroeconomics: An Introduction
... Slow down in 2000-2001; mild recovery in the following years ...
... Slow down in 2000-2001; mild recovery in the following years ...
0910 EOCT Review Guide Economics Macroeconomics standards
... c) Trough: d) Recovery: e) Expansion: ...
... c) Trough: d) Recovery: e) Expansion: ...