Macroeconomics
... Unemployment: definition and measures. Unemployment and the labor market: equilibrium and disequilibrium unemployment. Frictional (search), structural and cyclical (demand-deficient) unemployment. Natural rate of unemployment and full employment. Costs of unemployment. Okun’s law. ...
... Unemployment: definition and measures. Unemployment and the labor market: equilibrium and disequilibrium unemployment. Frictional (search), structural and cyclical (demand-deficient) unemployment. Natural rate of unemployment and full employment. Costs of unemployment. Okun’s law. ...
Chapter 28
... could increase the total number of coins issued without also needing to increase the amount of gold used to make them. When the cost of each coin is lowered in this way, the government profits from an increase in seigniorage (/ˈseɪnjərɪdʒ/), that is the net revenue derived from the issuing of curren ...
... could increase the total number of coins issued without also needing to increase the amount of gold used to make them. When the cost of each coin is lowered in this way, the government profits from an increase in seigniorage (/ˈseɪnjərɪdʒ/), that is the net revenue derived from the issuing of curren ...
Chapter 24 The Keynesian Framework Chapter 25 The IS-LM World
... adjusted (reduced/increased) Monetarists and Rational Expectations suggest that when money supply is increased, inflationary expectations rise which cause a higher demand for loanable funds This shifts the demand curve which could offset the shift in the supply curve caused by the monetary policy de ...
... adjusted (reduced/increased) Monetarists and Rational Expectations suggest that when money supply is increased, inflationary expectations rise which cause a higher demand for loanable funds This shifts the demand curve which could offset the shift in the supply curve caused by the monetary policy de ...
PRESS RELEASE SUMMARY OF THE MONETARY POLICY COMMITTEE MEETING No: 2015-06
... 13. Downside risks regarding economic activity continue to be important for the upcoming period. The lingering volatility across global financial markets and the sluggish course of confidence indices may cause private final demand to provide limited support to growth. In the case of an additional s ...
... 13. Downside risks regarding economic activity continue to be important for the upcoming period. The lingering volatility across global financial markets and the sluggish course of confidence indices may cause private final demand to provide limited support to growth. In the case of an additional s ...
Principles of Economics, Case and Fair,9e
... Orthodox macro theory consists of demandoriented theories that failed to explain the stagflation of the 1970s. Supply-side economists believe that the real problem was that high rates of taxation and heavy regulation had reduced the incentive to work, to save, and to invest. What was needed was not ...
... Orthodox macro theory consists of demandoriented theories that failed to explain the stagflation of the 1970s. Supply-side economists believe that the real problem was that high rates of taxation and heavy regulation had reduced the incentive to work, to save, and to invest. What was needed was not ...
VII Neoclassical synthesis and economic policies of 1960s
... • After first stage of reconstruction (around 1958, current account convertibility) – Keynesian teaching prevailed in all developed countries as basis for macroeconomic policies • Keynes own prediction – after WWI, capitalism will fall into depression back again – did not materialize – Traditional b ...
... • After first stage of reconstruction (around 1958, current account convertibility) – Keynesian teaching prevailed in all developed countries as basis for macroeconomic policies • Keynes own prediction – after WWI, capitalism will fall into depression back again – did not materialize – Traditional b ...
1 ECO 2013.005 Principles of Macroeconomics – Spring 2014
... a) More jobs. b) A higher price level. c) Higher unemployment rates. d) Greater deficits. ...
... a) More jobs. b) A higher price level. c) Higher unemployment rates. d) Greater deficits. ...
Economics Curriculum
... a. define price elasticity of demand and price elasticity of supply b. distinguish among elastic, inelastic, and unit elastic demand c. identify the determinants of demand elasticity d. calculate elasticity of demand utilizing total revenue test and the elasticity of demand coefficient e. apply pric ...
... a. define price elasticity of demand and price elasticity of supply b. distinguish among elastic, inelastic, and unit elastic demand c. identify the determinants of demand elasticity d. calculate elasticity of demand utilizing total revenue test and the elasticity of demand coefficient e. apply pric ...
PQ 3 - N. Meltem Daysal
... prices 5 percent: A) in both the short and long runs. B) in neither the short nor long run. C) in the short run but lead to unemployment in the long run. D) in the long run but lead to unemployment in the short run. 3. The aggregate demand curve is the ______ relationship between the quantity of out ...
... prices 5 percent: A) in both the short and long runs. B) in neither the short nor long run. C) in the short run but lead to unemployment in the long run. D) in the long run but lead to unemployment in the short run. 3. The aggregate demand curve is the ______ relationship between the quantity of out ...
BHARAT SCHOOL OF BANKING INFLATION
... Demand-Pull Inflation This type of inflation occurs, when the total demand for goods and services exceeds the available supply in the market (meaning more goods needed, but limited stock). As an effect, prices of those commodities increase. It is also known as Excess-Demand Inflation. Pricing Power ...
... Demand-Pull Inflation This type of inflation occurs, when the total demand for goods and services exceeds the available supply in the market (meaning more goods needed, but limited stock). As an effect, prices of those commodities increase. It is also known as Excess-Demand Inflation. Pricing Power ...
aggregate supply curve
... The period of time in which prices do not change or do not change very much. We call these prices “sticky”. • sticky prices If wages are sticky, firms’ overall costs will be sticky as well. Sticky wages cause sticky prices and hamper the economy’s ability to bring demand and supply into balance in t ...
... The period of time in which prices do not change or do not change very much. We call these prices “sticky”. • sticky prices If wages are sticky, firms’ overall costs will be sticky as well. Sticky wages cause sticky prices and hamper the economy’s ability to bring demand and supply into balance in t ...
PDF
... creased G). Then, at the war's end, aggregate demand decreased sharply. Competition caused prices to drop--ending inflation and then some. This did not occur because of policy, but rather from a postwar decline in G spending. During such periods, unemployment resulted. The economy was "left to the ...
... creased G). Then, at the war's end, aggregate demand decreased sharply. Competition caused prices to drop--ending inflation and then some. This did not occur because of policy, but rather from a postwar decline in G spending. During such periods, unemployment resulted. The economy was "left to the ...
The Great Depression and Inflation in the 1970s
... Blinder (1982) has argued that double-digit inflation in the 1970s had a single cause: supply shocks that sharply increased the nominal prices of a few categories of goods. But those in the monetarist tradition never found this explanation convincing. As Milton Friedman (1975) said: "The special con ...
... Blinder (1982) has argued that double-digit inflation in the 1970s had a single cause: supply shocks that sharply increased the nominal prices of a few categories of goods. But those in the monetarist tradition never found this explanation convincing. As Milton Friedman (1975) said: "The special con ...
Is it a Recessionary Gap or a fall in Potential Output?
... retrospect we know that, as oil prices rose, the productive capacity of the economy fell. But at the time, policymakers didn’t realize that. Instead, they thought lower output reflected a recessionary gap. As a result, inflation went higher and stayed there for longer than it should have. We can use ...
... retrospect we know that, as oil prices rose, the productive capacity of the economy fell. But at the time, policymakers didn’t realize that. Instead, they thought lower output reflected a recessionary gap. As a result, inflation went higher and stayed there for longer than it should have. We can use ...
Is Inflation Around the Corner?
... then relend the unspent cash yet again. The second loan recipient will leave some of his cash in the bank and the process continues for several more rounds. Of course, the process is even larger because the money paid out to vendors is also deposited in the banking system to be used for further lend ...
... then relend the unspent cash yet again. The second loan recipient will leave some of his cash in the bank and the process continues for several more rounds. Of course, the process is even larger because the money paid out to vendors is also deposited in the banking system to be used for further lend ...
