Inflation over 300 years
... Bank clerks—and indeed the Bank’s Chief Cashier—were paid £50 a year in 1694. Increasing this in line with the 400-fold rise in the overall nominal wage index since then would suggest a figure of £20,000 today. In fact graduate entrants into the Bank currently start on a salary around 25% less than ...
... Bank clerks—and indeed the Bank’s Chief Cashier—were paid £50 a year in 1694. Increasing this in line with the 400-fold rise in the overall nominal wage index since then would suggest a figure of £20,000 today. In fact graduate entrants into the Bank currently start on a salary around 25% less than ...
pdf white paper
... rate; the rate banks charge other banks to borrow money. As outlined, banks are required to maintain a certain level of reserves and should they fall below the minimum threshold, they are able to borrow funds generally at the Fed Funds rate from depository institutions that have excess reserves to i ...
... rate; the rate banks charge other banks to borrow money. As outlined, banks are required to maintain a certain level of reserves and should they fall below the minimum threshold, they are able to borrow funds generally at the Fed Funds rate from depository institutions that have excess reserves to i ...
Circular Flow and National Income Accounting
... • Home makers • People who have given up looking for jobs. ...
... • Home makers • People who have given up looking for jobs. ...
T F -M P
... merely affected this “composition” of debt), he also asserted that “monetary policy cannot be used to influence real rates of interest.” But note that this implies the Fed cannot even “influence” nominal rates of interest. Nobody could argue that cutting the fed funds rate from, say, 7 percent to 2 ...
... merely affected this “composition” of debt), he also asserted that “monetary policy cannot be used to influence real rates of interest.” But note that this implies the Fed cannot even “influence” nominal rates of interest. Nobody could argue that cutting the fed funds rate from, say, 7 percent to 2 ...
The Great Depression
... • The real wage rose after 1933 despite high levels of unemployment. • This is attributed to government intervention. – During 1934 and 1935, the National Industrial Recovery Act (NIRA) attempted to raise wages and prices by instituting industry-specific codes that required employers to raise wage r ...
... • The real wage rose after 1933 despite high levels of unemployment. • This is attributed to government intervention. – During 1934 and 1935, the National Industrial Recovery Act (NIRA) attempted to raise wages and prices by instituting industry-specific codes that required employers to raise wage r ...
Innocent Frauds that Sustain Unemployment
... • Declining real terms of trade were manifested by 1. Exports supporting output and employment 2. US workers losing income to higher food and fuel prices and cutting back on other consumption. • This also meant less income to service debt. • The recent fall in crude prices helps, but prices remain f ...
... • Declining real terms of trade were manifested by 1. Exports supporting output and employment 2. US workers losing income to higher food and fuel prices and cutting back on other consumption. • This also meant less income to service debt. • The recent fall in crude prices helps, but prices remain f ...
Innocent Frauds that Sustain Unemployment
... • Declining real terms of trade were manifested by 1. Exports supporting output and employment 2. US workers losing income to higher food and fuel prices and cutting back on other consumption. • This also meant less income to service debt. • The recent fall in crude prices helps, but prices remain f ...
... • Declining real terms of trade were manifested by 1. Exports supporting output and employment 2. US workers losing income to higher food and fuel prices and cutting back on other consumption. • This also meant less income to service debt. • The recent fall in crude prices helps, but prices remain f ...
Chpt24
... Outside Lag: Example After an increase in interest rates shifts the AD curve, real output first falls and then returns to the natural level after the AS curve shifts. These estimates show that the process involves a total lag of 1 to 3 years, or longer. Different studies, based on different p ...
... Outside Lag: Example After an increase in interest rates shifts the AD curve, real output first falls and then returns to the natural level after the AS curve shifts. These estimates show that the process involves a total lag of 1 to 3 years, or longer. Different studies, based on different p ...
Civics Review powerpoint
... do not have the resources do satisfy all of their wants. Therefore, we must make choices about how to allocate those resources. We make decisions about how to spend our money and use our time. This activity will focus on the central idea of economics- every choice involves a cost. Let's say you ha ...
... do not have the resources do satisfy all of their wants. Therefore, we must make choices about how to allocate those resources. We make decisions about how to spend our money and use our time. This activity will focus on the central idea of economics- every choice involves a cost. Let's say you ha ...
Econ 302
... balance equal to zero is attained automatically by: a. exchange rate appreciation or depreciation sufficient to bring desired net exports equal to zero. b. domestic real interest rate changes will reverse the capital flow that finances the current account deficit, forcing the deficit back to zero. c ...
... balance equal to zero is attained automatically by: a. exchange rate appreciation or depreciation sufficient to bring desired net exports equal to zero. b. domestic real interest rate changes will reverse the capital flow that finances the current account deficit, forcing the deficit back to zero. c ...
1. "Income Inequality and Human Wellbeing"
... Development Index, World Happiness Report, Physical Quality of Life Index, Happy Planet Index, Gross national happiness, Social Progress Index, Canadian Index of Wellbeing etc. These methods/indices use commonly used human development and quality of life factors such as employment rate, life expecta ...
... Development Index, World Happiness Report, Physical Quality of Life Index, Happy Planet Index, Gross national happiness, Social Progress Index, Canadian Index of Wellbeing etc. These methods/indices use commonly used human development and quality of life factors such as employment rate, life expecta ...
The 2008 Financial Crisis: Causes, Response, and Consequences
... recovery. Figures 16a–16d show a number of reliable indicators that have convinced me that we are in a recovery. We have had a significant decline in initial claims for unemployment insurance (see Figure 16a). We have had six months in a row of increases in the index of leading economic indicators ( ...
... recovery. Figures 16a–16d show a number of reliable indicators that have convinced me that we are in a recovery. We have had a significant decline in initial claims for unemployment insurance (see Figure 16a). We have had six months in a row of increases in the index of leading economic indicators ( ...
PDF Download
... An implication of Myers’ reasoning which is born out by formal analyses is that an economy with more employment protection should have a lower inflow rate of workers into unemployment. As we will see next, a low inflow rate into unemployment has characterized Europe both before and after the outbrea ...
... An implication of Myers’ reasoning which is born out by formal analyses is that an economy with more employment protection should have a lower inflow rate of workers into unemployment. As we will see next, a low inflow rate into unemployment has characterized Europe both before and after the outbrea ...
Problem Sheet 1
... List and define any two of the costs of high inflation. ANSWER: The costs include: Shoeleather costs: the resources wasted when inflation induces people to reduce their money holdings Menu costs: the cost of more frequent price changes at higher inflation rates Relative Price Variability: higher inf ...
... List and define any two of the costs of high inflation. ANSWER: The costs include: Shoeleather costs: the resources wasted when inflation induces people to reduce their money holdings Menu costs: the cost of more frequent price changes at higher inflation rates Relative Price Variability: higher inf ...
Transforming Economic Data
... growth rate that is constant, but it fluctuate randomly around this underlying rate from one year to the next. - Linear detrending is to fit the best straight line through the graph of the logarithm. - The fitted line is called the linear trend (lowfrequency) and the deviations from the fitted line ...
... growth rate that is constant, but it fluctuate randomly around this underlying rate from one year to the next. - Linear detrending is to fit the best straight line through the graph of the logarithm. - The fitted line is called the linear trend (lowfrequency) and the deviations from the fitted line ...
KEY - Personal.psu.edu
... f) (10 points) Explain why there is such a difference between the potential growth rate of the economy 20 years ago relative to the most recent potential growth rate. Give at least two reasons. Be sure to refer to what exactly determines the potential growth rate of the economy. Also, be sure you us ...
... f) (10 points) Explain why there is such a difference between the potential growth rate of the economy 20 years ago relative to the most recent potential growth rate. Give at least two reasons. Be sure to refer to what exactly determines the potential growth rate of the economy. Also, be sure you us ...
AP Macro Study Guide - Phoenix Union High School District
... This happens because a change in government spending has more of an impact on AE than a tax change. This is because government spending has a direct effect on AE, i.e. a $20 increase in government spending will result in a $20 increase in AE. However, since if people are taxed, their consumption onl ...
... This happens because a change in government spending has more of an impact on AE than a tax change. This is because government spending has a direct effect on AE, i.e. a $20 increase in government spending will result in a $20 increase in AE. However, since if people are taxed, their consumption onl ...
Small businesses are a vital part of the fabric of... can raise the rates when those firms are old with-
... banks with more market power can afford to offer low interest rates to young firms because the banks ...
... banks with more market power can afford to offer low interest rates to young firms because the banks ...
Economic terms
... identical definition is the relative value of the marginal unit of some good when different quantities of that good are available. Demand Curve A graphic representation of the relationship between prices and the corresponding quantities demanded per time period. Demand Deposits Checking accounts in ...
... identical definition is the relative value of the marginal unit of some good when different quantities of that good are available. Demand Curve A graphic representation of the relationship between prices and the corresponding quantities demanded per time period. Demand Deposits Checking accounts in ...
COMMON MISTAKES ON THE AP MACRO EXAM
... (maximize your overall score by omitting "stupid mistakes" or mistakes due to rushing). ...
... (maximize your overall score by omitting "stupid mistakes" or mistakes due to rushing). ...
File
... 7. Which phase of the business cycle would be most closely associated with an economic contraction? A) peak B) recession C) trough D) recovery 8. Some economists prefer to use the term business fluctuations rather than business cycles to describe the historical growth record in the United States bec ...
... 7. Which phase of the business cycle would be most closely associated with an economic contraction? A) peak B) recession C) trough D) recovery 8. Some economists prefer to use the term business fluctuations rather than business cycles to describe the historical growth record in the United States bec ...
Thinking Like an Economist
... resources that could otherwise have been used to produce goods and services. Individuals reduce money holdings, which is inconvenient and misallocates the individual’s personal resources of time, energy, and leisure. In the case of hyperinflation, inflation over 100%, the currency system breaks ...
... resources that could otherwise have been used to produce goods and services. Individuals reduce money holdings, which is inconvenient and misallocates the individual’s personal resources of time, energy, and leisure. In the case of hyperinflation, inflation over 100%, the currency system breaks ...
Early 1980s recession
The early 1980s recession describes the severe global economic recession affecting much of the developed world in the late 1970s and early 1980s. The United States and Japan exited the recession relatively early, but high unemployment would continue to affect other OECD nations through to at least 1985. Long-term effects of the recession contributed to the Latin American debt crisis, the savings and loans crisis in the United States, and a general adoption of neoliberal economic policies throughout the 1980s and 1990s.