problem set
... and plantation agriculture (an export-oriented sector). Production in manufacturing uses capital and labor, and production in agriculture uses labor and land. Labor is mobile between the two sectors, but capital and land are each used only in one sector. Use diagrams or an algebraic model (you need ...
... and plantation agriculture (an export-oriented sector). Production in manufacturing uses capital and labor, and production in agriculture uses labor and land. Labor is mobile between the two sectors, but capital and land are each used only in one sector. Use diagrams or an algebraic model (you need ...
Revision, CPI and Inflation
... Measuring the changes in prices Simple Price Index Composition Price Index ...
... Measuring the changes in prices Simple Price Index Composition Price Index ...
M02_HUST3325_08_SG_C02
... production of good X always requires more K per unit than does the production of good Y. What does this imply for the shape of the country’s PPF? Explain carefully. In this case, the PPF will be concave to the origin, that is, it will be bowed out. Why? Suppose that you start from a point of complet ...
... production of good X always requires more K per unit than does the production of good Y. What does this imply for the shape of the country’s PPF? Explain carefully. In this case, the PPF will be concave to the origin, that is, it will be bowed out. Why? Suppose that you start from a point of complet ...
Aggregate Supply - Economics @ Tallis
... country’s i) aggregate demand ii) potential output Identify two reasons why the world’s 500 biggest companies might have invested more on percentage terms that the UK’s top 500 biggest companies ...
... country’s i) aggregate demand ii) potential output Identify two reasons why the world’s 500 biggest companies might have invested more on percentage terms that the UK’s top 500 biggest companies ...
eco history
... Great Depression and Before Why did aggregate demand decline so much during this period? Stock market crash of 1929 Grim business expectations Drop in consumer spending Widespread bank failures Severe restrictions on world trade ...
... Great Depression and Before Why did aggregate demand decline so much during this period? Stock market crash of 1929 Grim business expectations Drop in consumer spending Widespread bank failures Severe restrictions on world trade ...
The Market Economy as Complex Dynamical System
... 2. asks firms and households say how much they want to buy and sell at these prices, 3. calculates the “excess demand” or “excess supply” for each sector, 4. adjusts the prices to bring the markets closer to equilibrium, 5. Then back to 1, until all markets are in equilibrium. 6. Only then is produc ...
... 2. asks firms and households say how much they want to buy and sell at these prices, 3. calculates the “excess demand” or “excess supply” for each sector, 4. adjusts the prices to bring the markets closer to equilibrium, 5. Then back to 1, until all markets are in equilibrium. 6. Only then is produc ...
Problem of Inflation in India
... • WPI = It is computed for all commodities and for major groups and sub groups of commodities. It is computed on weekly basis. Services and non taxable commodities are not included . • GDPD= Derived from national income, services included ,coverage more than WPI • CPI-IW=It measures inflation in ter ...
... • WPI = It is computed for all commodities and for major groups and sub groups of commodities. It is computed on weekly basis. Services and non taxable commodities are not included . • GDPD= Derived from national income, services included ,coverage more than WPI • CPI-IW=It measures inflation in ter ...
Sticky Prices and the Phillips Curve
... inflation. Consider again the accelerationist Phillips curve, equation (26). The fact that inflation depends on its own lagged values in this formulation means then it would be very difficult to reduce inflation quickly without a significant increase in unemployment. So, this Phillips curve suggests ...
... inflation. Consider again the accelerationist Phillips curve, equation (26). The fact that inflation depends on its own lagged values in this formulation means then it would be very difficult to reduce inflation quickly without a significant increase in unemployment. So, this Phillips curve suggests ...
Rational expectation and the Lucas critique
... the sacrifice ratio, which is the number of percentage points of GDP that must be forgone to reduce inflation by 1 percentage point. Because these estimates of the sacrifice ratio are often large, they lead some economists to argue that policymakers should learn to live with inflation, rather than i ...
... the sacrifice ratio, which is the number of percentage points of GDP that must be forgone to reduce inflation by 1 percentage point. Because these estimates of the sacrifice ratio are often large, they lead some economists to argue that policymakers should learn to live with inflation, rather than i ...
Econ summary
... When incentives conflict with marginal choices, markets may fail and alternative mechanisms designed and employed (contracts, government, clubs). ...
... When incentives conflict with marginal choices, markets may fail and alternative mechanisms designed and employed (contracts, government, clubs). ...
تحميل الملف المرفق
... means the one pervailing in a market on the day of cotract, while others have allowed the market price of the date of delivery. Even some fuqaha think that agreeemnt on the latter price is possible provided a specific amount or a proportion of it is deducted from it. For example, if you pay 100 now ...
... means the one pervailing in a market on the day of cotract, while others have allowed the market price of the date of delivery. Even some fuqaha think that agreeemnt on the latter price is possible provided a specific amount or a proportion of it is deducted from it. For example, if you pay 100 now ...
Price and Output and
... • What makes the m-r aggregate supply curve upward-sloping? • Imperfect information • Institutional and contractual barriers to price adjustments • Long-run price adjustments do not take place in all sectors at the same time • An increase in the general price level may be construed as a relative pri ...
... • What makes the m-r aggregate supply curve upward-sloping? • Imperfect information • Institutional and contractual barriers to price adjustments • Long-run price adjustments do not take place in all sectors at the same time • An increase in the general price level may be construed as a relative pri ...
Aggregate S&D
... In micro a given technology may produce an "envelop" of short run cost curves But in aggregate, technology can change and output can be expanded indefinately! ...
... In micro a given technology may produce an "envelop" of short run cost curves But in aggregate, technology can change and output can be expanded indefinately! ...
CHAPTER 11 MEASURING THE COST OF LIVING
... 1. Substitution bias: When prices change from one year to another they don’t change proportionately(overstatement of the increase in the cost of living) 2. Introduction of new goods: When a new good introduced, consumers have more variety from which to choose(it does not reflect the change in purch ...
... 1. Substitution bias: When prices change from one year to another they don’t change proportionately(overstatement of the increase in the cost of living) 2. Introduction of new goods: When a new good introduced, consumers have more variety from which to choose(it does not reflect the change in purch ...
End of the Year Graphing Quiz Review
... The price of Pepsi decreases. Show the resulting demand for Coca-Cola, a substitute ...
... The price of Pepsi decreases. Show the resulting demand for Coca-Cola, a substitute ...
Intro to Economics
... quantities supplied will increase and vice versa, other things held constant. Equilibrium – a condition of supply equaling demand so that the market clears at an existing price. Disequilibrium – when either a surplus or shortage develops because demand does not equal supply at the going price. ...
... quantities supplied will increase and vice versa, other things held constant. Equilibrium – a condition of supply equaling demand so that the market clears at an existing price. Disequilibrium – when either a surplus or shortage develops because demand does not equal supply at the going price. ...
Aggregate Demand/Aggregate Supply Model Differences
... creates an imbalance in the economy. At the original price level, aggregate demand exceeds aggregate supply. As businesses, households, and the government scramble to get the goods and services they want, they begin to bid up prices. As the price level begins to rise, the real money supply shrinks, ...
... creates an imbalance in the economy. At the original price level, aggregate demand exceeds aggregate supply. As businesses, households, and the government scramble to get the goods and services they want, they begin to bid up prices. As the price level begins to rise, the real money supply shrinks, ...
PDF
... most among all major food categories, increasing just over 40 percent. Retail prices for fresh fruits and vegetables, eggs, and meats are more strongly linked with commodity prices than processed foods like soft drinks and candies. However, higher relative inflation for fresh fruits and vegetables w ...
... most among all major food categories, increasing just over 40 percent. Retail prices for fresh fruits and vegetables, eggs, and meats are more strongly linked with commodity prices than processed foods like soft drinks and candies. However, higher relative inflation for fresh fruits and vegetables w ...
Document
... Other Price Measures A similar index to CPI for goods purchased by firms is the producer price index. Economists also use the GDP deflator, which measures the price level by calculating the ratio of nominal to real GDP. The GDP deflator for a given year is 100 times the ratio of nominal GDP to ...
... Other Price Measures A similar index to CPI for goods purchased by firms is the producer price index. Economists also use the GDP deflator, which measures the price level by calculating the ratio of nominal to real GDP. The GDP deflator for a given year is 100 times the ratio of nominal GDP to ...
Document
... 6. What type of unemployment is caused by a recession? a. Frictional b. Structural c. Cyclical d. Natural e. None of the above 7. In the circular flow diagram, which of the following is true in resource (factor) markets? a. Households buy resources from business firms b. Households sell products to ...
... 6. What type of unemployment is caused by a recession? a. Frictional b. Structural c. Cyclical d. Natural e. None of the above 7. In the circular flow diagram, which of the following is true in resource (factor) markets? a. Households buy resources from business firms b. Households sell products to ...
