Fundamentals of Macroeconomics This paper will consist of two parts in which will apply and define some fundamentals of macroeconomics. Part one will explain six terms; gross domestic product (GDP), real GDP, nominal GDP, unemployment rate, inflation rate, and finally interest rate. Part two will consist of describing how three economic activities, such as purchasing of groceries, massive layoff of employees, and decrease in taxes affect the three main
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economy hold up in comparison to the rest of the world? New Zealand is a power parity and has a gross domestic product (GDP) of $63.8 billion. The Organization for Economic Co-Operation and Development (OECD) has shown a steady increase in the GDP of New Zealand since 2004. However they still fall below the OECD average. (New Zealand Institute, 2010) There will be an increase in GDP for New Zealand in 2010 because of the earthquake that took place in September. The increase is estimated to be about
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Economic contractions, troughs, expansions and peaks are unpredictable phases of economic activity referred to as economic business cycles. The gross domestic product, or GDP, is the total market value of goods and services the country produces. As the economy goes through business cycle changes, these positively or negatively affect the GDP. Economic Contraction During a contraction, economic output slows, usually due to decreased demand for products and services, an increase in the cost of raw materials
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Macroeconomics Chapter 1 What Is Macroeconomics? 1.1 How Macroeconomics Affects Our Everyday Lives 1) Macroeconomics is the study of A) the economic issues which affect individual well-being and individual firms' profit levels. B) the economic issues which affect foreign and domestic prices of related goods and services. C) inflation and poverty at the level of the household. D) the economic issues which affect the nation's total income, employment, and output. Answer: D Question
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survey are presented in the Annex. Some salient features are: 1. Annual Forecasts: • Real GDP growth rate forecast for 2012-13 is revised downwards to 6.5 per cent 1 from 7.2 per cent in the last survey. Forecasts for agricultural GDP remained unchanged at 3.0 per cent. Growth forecast for GDP of industry is revised downwards to 4.0 per cent from 6.0 per cent and growth forecast for services GDP is revised downwards to 8.0 per cent from 8.8 per cent in the last survey (Table 1). • The
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difficult by lack of rain and is restricted to only four islands for most of the year. It is ironic that the country is called “Verde” meaning “Green,” even though most of the land is not green. Due to the scarcity of agriculture, most of the nation's GDP comes from the service industry; more specifically tourism, light manufacturing industries, and fisheries. Cape Verde's economy has been steadily growing since the late 1990s, and it is now officially considered a country of average development. Through
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Real GDP, Nominal GDP, Unemployment rate, Inflation rate and Interest rate. Part 2 will discuss how the following economic activities: purchasing of groceries, massive layoff of employees and decrease in taxes affects the government, households and businesses. Macroeconomic Terms: Gross Domestic Product The Gross domestic product which is referred to as the GDP for short, is best defined as the as the main indicator used to calculate the state of a country’s economy. The GDP is the
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affect longterm interest rates, but current deficits do not. Our estimates suggest that each percent-ofGDP in current deficits reduces national saving by 0.5 to 0.8 percent of GDP. Each percent-of-GDP in projected future unified deficits raises forward long-term interest rates by 25 to 35 basis points, and each percent-of-GDP in projected future primary deficits raises interest rates by 40 to 70 basis points. Budget Deficits, National Saving, and Interest Rates September 2004 I. Introduction
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Lebanon vs. Egypt Economies of Emerging Nations Dr. Yiheyis | Clark Atlanta University Submitted By: Quincy Williams December 2,2014 Lebanon vs. Egypt In this paper I will compare and contrast the countries of Egypt and Lebanon. I will explore both of the country’s economic history starting in 1980. The basis of this paper will be on the country’s global development indicators and what they tell us about that particular country. The majority of the research done in this paper was done through the
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Introduction The GDP is one of the primary indicators used to gauge health of country’s economy. In short it represents dollar value of all goods and services produced over a specific time period generally one year. GDP depends on a myriad number of factors and the purpose of our regression analysis is to study the variables that affect the GDP of nations. We have boiled down to a specific few variables which have major impact on GDP according to us. The variables and their effects have been
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