Syllabus 101 - Professor Dohan`s Website, Queens College, New
... ubiquity of public-type goods and free riders, common property, asymmetric information, the principal agent problem, imperfect competition and more. (5) Government economic policies or the absence of government policies may have unintended consequences, such as the current Great Bush Recession. (6) ...
... ubiquity of public-type goods and free riders, common property, asymmetric information, the principal agent problem, imperfect competition and more. (5) Government economic policies or the absence of government policies may have unintended consequences, such as the current Great Bush Recession. (6) ...
G - University of Southampton
... A) both the substitution effect and the income effect suggest that hours worked should decrease. B) the substitution effect suggests that hours worked should increase, while the income effect suggests that hours worked should decrease. C) both the substitution effect and the income effect suggest th ...
... A) both the substitution effect and the income effect suggest that hours worked should decrease. B) the substitution effect suggests that hours worked should increase, while the income effect suggests that hours worked should decrease. C) both the substitution effect and the income effect suggest th ...
Using the Theory
... Changes in stock prices--through the wealth effect--cause both equilibrium GDP and the price level to move in the same direction. That is, an increase in stock prices will raise equilibrium GDP and the price level, while a decrease in stock prices will decrease both equilibrium GDP and the price lev ...
... Changes in stock prices--through the wealth effect--cause both equilibrium GDP and the price level to move in the same direction. That is, an increase in stock prices will raise equilibrium GDP and the price level, while a decrease in stock prices will decrease both equilibrium GDP and the price lev ...
GDP Powerpoint - January, 2017
... • Secondhand sales- like used car dealerships, thrift stores or used book dealers. These transactions go from one owner to another and do not produce a new product. • Nonmarket transactions- these are services that you do for yourself that do not require a purchase outside of your home like home rep ...
... • Secondhand sales- like used car dealerships, thrift stores or used book dealers. These transactions go from one owner to another and do not produce a new product. • Nonmarket transactions- these are services that you do for yourself that do not require a purchase outside of your home like home rep ...
lesson 3 - Mr. Zittle`s Classroom
... people decrease consumption and increase savings to restore their real wealth to the desired level. An alternative term is the real balance effect. (C) The net export effect is defined as a decrease in domestic output demanded with an increase in the domestic price level because domestic products ar ...
... people decrease consumption and increase savings to restore their real wealth to the desired level. An alternative term is the real balance effect. (C) The net export effect is defined as a decrease in domestic output demanded with an increase in the domestic price level because domestic products ar ...
Asymmetric Effects of Oil Prices on the Manufacturing Sector in Turkey
... First, using world crude oil prices as oil price specifications, we estimate multivariate VARs, and observe that except for manufacture of coke and refined petroleum products, none of the manufacturing sub-sector growth is predicted significantly by all linear and non-linear crude oil price variable ...
... First, using world crude oil prices as oil price specifications, we estimate multivariate VARs, and observe that except for manufacture of coke and refined petroleum products, none of the manufacturing sub-sector growth is predicted significantly by all linear and non-linear crude oil price variable ...
Model for Analysis and Simulations (MAS)
... adjustment cost, and habit formation in consumption. From this exercise we conclude that both investment and consumption inertia are relevant to get a hump shaped response of GDP to these external shocks, as traditional observed in the data. This inertia, in turn, is reflected in a similar pattern f ...
... adjustment cost, and habit formation in consumption. From this exercise we conclude that both investment and consumption inertia are relevant to get a hump shaped response of GDP to these external shocks, as traditional observed in the data. This inertia, in turn, is reflected in a similar pattern f ...
Inflation, Disinflation, and Deflation
... sharply in the near future, and it was time to negotiate a contract for your pay, what would you demand? Why might it be in the interest of the business to pay you the higher wage? Hiring workers might be more expensive later Output is selling for higher prices ...
... sharply in the near future, and it was time to negotiate a contract for your pay, what would you demand? Why might it be in the interest of the business to pay you the higher wage? Hiring workers might be more expensive later Output is selling for higher prices ...
Questions for FINAL
... 136. What is the main idea behind imperfect-information model? 137. What is the source of misperception in the imperfect-information model? 138. State 3 reasons for prices to be sticky (why firms would not like to change prices)? 139. What basic assumption of classical economy is sticky-price model ...
... 136. What is the main idea behind imperfect-information model? 137. What is the source of misperception in the imperfect-information model? 138. State 3 reasons for prices to be sticky (why firms would not like to change prices)? 139. What basic assumption of classical economy is sticky-price model ...
Capital markets and economic fluctuations in capitalist economies
... The fourth puzzle is concerned with patterns of sectoral movement, some aspects of which I have already referred to. Investment in general, and inventories and construction in particular, fluctuate more than output (table 1). The puzzle of these fluctuations is that in recessions, the marginal costs ...
... The fourth puzzle is concerned with patterns of sectoral movement, some aspects of which I have already referred to. Investment in general, and inventories and construction in particular, fluctuate more than output (table 1). The puzzle of these fluctuations is that in recessions, the marginal costs ...
idc03-woitek 225143 en
... uctuations), aggregate wage measures are not as volatile as wage measures on the individual level. In fact, Solon et al. (1994) nd that US real wages are strongly procyclical, using data from the Panel Study of Income Dynamics. More recently, Liu (2003) comes to a similar conclusion in a cross-coun ...
... uctuations), aggregate wage measures are not as volatile as wage measures on the individual level. In fact, Solon et al. (1994) nd that US real wages are strongly procyclical, using data from the Panel Study of Income Dynamics. More recently, Liu (2003) comes to a similar conclusion in a cross-coun ...
Unit 3 PPT - Long Branch Public Schools
... The government tracks the prices of the same goods and services each year. • This “market basket” is made up of about 300 commonly purchased goods • The Inflation Rate-% change in prices in 1 year • Then compare changes in prices to a given base year (usually 1982) • Prices of subsequent years are t ...
... The government tracks the prices of the same goods and services each year. • This “market basket” is made up of about 300 commonly purchased goods • The Inflation Rate-% change in prices in 1 year • Then compare changes in prices to a given base year (usually 1982) • Prices of subsequent years are t ...
Slide - MyWeb
... monetary or fiscal policy would shift the aggregate supply curve from AS0 to AS1, lower output from Y0 to Y1, and raise the price level from P0 to P1. Monetary or fiscal policy could be changed enough to have the AD curve shift from AD0 to AD1. This policy would raise aggregate output Y again, but i ...
... monetary or fiscal policy would shift the aggregate supply curve from AS0 to AS1, lower output from Y0 to Y1, and raise the price level from P0 to P1. Monetary or fiscal policy could be changed enough to have the AD curve shift from AD0 to AD1. This policy would raise aggregate output Y again, but i ...
After studying this chapter, you will able to
... Explain the short-run and long-run relationships between inflation and unemployment Explain the short-run and long-run relationships between inflation and interest rates ...
... Explain the short-run and long-run relationships between inflation and unemployment Explain the short-run and long-run relationships between inflation and interest rates ...
Keynesian Theory and the AD-AS Framework: A
... equilibrium conditions and behavioral and institutional equations. The ‘demand side’ typically examines factors relating to the demand for goods and the demand and supply of assets. The ‘supply side’ typically examines factors relating to output and pricing decisions of producers, and factor markets ...
... equilibrium conditions and behavioral and institutional equations. The ‘demand side’ typically examines factors relating to the demand for goods and the demand and supply of assets. The ‘supply side’ typically examines factors relating to output and pricing decisions of producers, and factor markets ...
Modelling Economies of Scale and Imperfect Competition Using
... The simulations were undertaken using the standard neo-classical model with the addition of a new technology component and a new pricing component. Economies of scale are either modeled at the firm level or at the industry level. For the pricing part, Abayasiri-Silva and Horridge model it as being s ...
... The simulations were undertaken using the standard neo-classical model with the addition of a new technology component and a new pricing component. Economies of scale are either modeled at the firm level or at the industry level. For the pricing part, Abayasiri-Silva and Horridge model it as being s ...
Workshop 6 The Building Blocks of Macroeconomics
... 14. A bank has loaned millions of dollars for home mortgages at a fixed rate of interest. H ...
... 14. A bank has loaned millions of dollars for home mortgages at a fixed rate of interest. H ...
Economic Lectures
... example, the 1990s were dominated by news stories about massive reductions in employment in particular American firms and industries, with tens of thousands of workers being laid off by some large companies and hundreds of thousands in some industries. Yet the rate of unemployment in the U.S. econo ...
... example, the 1990s were dominated by news stories about massive reductions in employment in particular American firms and industries, with tens of thousands of workers being laid off by some large companies and hundreds of thousands in some industries. Yet the rate of unemployment in the U.S. econo ...
Modern Macro Economics
... ●long run in macroeconomics The period of time in which prices have fully adjusted to any economic changes. Should economic policy be guided by what we expect to happen in the short run, as Keynes thought, or what we expect to happen in the long run, as Friedman thought? To answer this question, we ...
... ●long run in macroeconomics The period of time in which prices have fully adjusted to any economic changes. Should economic policy be guided by what we expect to happen in the short run, as Keynes thought, or what we expect to happen in the long run, as Friedman thought? To answer this question, we ...
Energy subsidy reforms and the impacts on firms
... addition, inter-fuel substitution depends critically on access to energy and reliability of supply, which can vary significantly across regions. For instance, frequent power outages or a lack of access to the electricity grid in rural regions mean that rural firms may be unable to rely on electrici ...
... addition, inter-fuel substitution depends critically on access to energy and reliability of supply, which can vary significantly across regions. For instance, frequent power outages or a lack of access to the electricity grid in rural regions mean that rural firms may be unable to rely on electrici ...
Unit 4: Measuring GDP and Prices
... – Understand how to measure a country’s output. – Learn a way to measure the overall level of prices in the economy. – Learn some problems with these measures. • Learning Objectives: – LO4: Define macroeconomic measures of production, prices, inflation, and employment. Students will be able to expla ...
... – Understand how to measure a country’s output. – Learn a way to measure the overall level of prices in the economy. – Learn some problems with these measures. • Learning Objectives: – LO4: Define macroeconomic measures of production, prices, inflation, and employment. Students will be able to expla ...
ECN 111 Chapter 13 Lecture Notes
... a. When the interest rate is above its equilibrium level, the quantity of money supplied exceeds the quantity of money demanded. As people try to get rid of money, the demand for other financial assets such as bonds increases, the prices of these assets rise, and the interest rate falls. b. The con ...
... a. When the interest rate is above its equilibrium level, the quantity of money supplied exceeds the quantity of money demanded. As people try to get rid of money, the demand for other financial assets such as bonds increases, the prices of these assets rise, and the interest rate falls. b. The con ...