recover from recession. (25 marks) 2010 G Using the data and your economic knowledge, assess the importance of higher labour productivity in bringing about improvements to UK macroeconomic performance. (25 marks) 2009 H Extract F (lines 7-8) argues that ‘the potential significance of household savings for UK macroeconomic performance needs to be recognised’. Using the data and your economic knowledge, evaluate the significance of household savings for UK
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Micro economics deals with the analysis of price determination and the allocation of specific resources to particular uses. Whereas macroeconomics aims at determining the levels of national income, total empowerment of resources and general price level. In other words, micro economics deals with individual behaviour and micro aspects of the industry while macroeconomics is the study of the macro aspects or the industry as a whole. In the words of K. E. Boulding, “Microeconomics is the study of a particular
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Product Purchases and the Economy ECO/372 October 12, 2015 Product Purchases and the Economy A new car purchase is one that takes a large amount of consideration and budgeting. The most important economic indicators to consider when investing in an automobile purchase are unemployment rates and interest rates. These indicators will assist a person when deciding whether to purchase new or used. Is the right time now or later to purchase a truck? Economic Indicators The
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aggregating the performance of each on 61 variables grouped into four broad categories: economic fundamentals, ease of doing business, quality of regulation, and rule of law. The category economic fundamentals assesses a country’s macroeconomic performance and the macroeconomic environment’s openness and conduciveness to trade and foreign direct investment. Ease of doing business measures the implicit and explicit costs of doing business such as the cost of starting, tax, crime, terrorism and so on.
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Abstract This paper examines the widely accepted proposition that the fiscal stimulus saved Australia from the worst effects of the Global Financial Crisis (GFC). It presents theoretical and empirical arguments supporting the view that fiscal stimulus is ineffective in a floating exchange-rate regime. It underlines this by comparing Australia’s experiences in the East Asian Crisis of 1997 and the GFC of 2008–09. It concludes that a depreciating exchange rate protected the Australian economy in
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Moderate pace” (McGrath, 2013) from early October through mi- November. GDP for the 3rd Quarter grew 3.6%, which was higher than the 3.1% that economists predicted. It was also an increase over the 2.5% rate of growth in the 2nd Quarter. Based on macroeconomic data, experts expected economic growth of 2% and the core consumer price inflation rate to remain between 1.5% and 2.5%.in Q4 2013. Experts also predicted that unemployment rates will persist in the 7%- 7.3% range due to the volatility of the
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Assignment 1: The Key Concepts in Economics Markisha Dill William Creamer Principle Of Economics May 31, 2015 Before sitting down to complete this assignment, I thought thoroughly about economics as a whole. My interest was whether economics was considered an exact since, i.e. Mathematics. Economics has been described as a science, numerous times. So in my search to find out whether economics was a science, I looked at an online dictionary to see how these words were defined. First I looked
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Macroeconomic Terms Describe the following terms in your words. |Term |Definition | |Gross Domestic Product (GDP) |Gross Domestic Product is the total market value| | |for a country for the year based on all services| | |and final goods. This will be equal to | |
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terms used to describe macroeconomics and second part will provide 3 examples of economic activities. The purpose of part 1 is to define six terms of macroeconomics which include: Gross domestic product, 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
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Definition of 'Macroeconomics' The term Macro has been taken from the Latin word Macros which means big. The field of economics that studies the behavior of the aggregate economy. Macroeconomics examines economy-wide phenomena such as changes in unemployment, national income, rate of growth, gross domestic product, inflation and price levels. Macroeconomics Concerns | Production | Prices | Income | Employment | NationalProduction/OutputTotal Industrial OutputGross Domestic ProductGrowth of
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