Fundamentals of Macroeconomics Gross domestic product can be described as a countries measure of goods and services produced in a particular interval based on value recorded in an annual period. The inclusion of public & private consumption (C), government spending/disbursement/expenditures (G), national investments for the purpose of expansion and further production (I), along with total net exports (Exports – Imports) (NX), are essential in its calculation. GDP=C+G+I+NX. GDP can be used as
Words: 917 - Pages: 4
Fundamentals of Macroeconomics ECO 372 June 7, 2012 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
Words: 1352 - Pages: 6
2/5/2015 Print Principles of Macroeconomics: Ch 1 Problems and Applications flashcards | Easy Notecards front 1 back 1 a. Money spent on a new car could of been put in saving or used for food, clothing, vacation expenses, education expenses etc. b. When deciding how much money to allocate towards national parks, members of Congress much calculate the tradeoff with other important expenses such as national defense, infrastructure (bridges and roads), social programs, education etc. c.
Words: 2225 - Pages: 9
to be assessed in the Grade 12 National Senior Certificate (NSC) Examination in Economics. Assist teachers to adequately prepare learners for the examinations. This document deals with the final Grade 12 external examinations. It does not deal in any depth with the School-Based Assessment (SBA). This guideline should be read in conjunction with: • • • The National Curriculum Statement (NCS) Curriculum and Assessment Policy Statement (CAPS): Economics The National Protocol of Assessment: An addendum
Words: 5874 - Pages: 24
Business Economics II (Macroeconomics) Objective of Macroeconomic: Following are the basic objective of macroeconomics which deals on national basis 1. Output Growth Production 2. Employment stability 3. Price level stability 4. Foreign debts Definition of Fiscal Policy: Fiscal policy refers to government policy that attempts to influence direction of the economic through changes in government taxes and some government spending. e.g. High rate of inflation: High
Words: 1000 - Pages: 4
Steady and sustainable economic growth (%change in GDP) – the economy to grow a little bit each year A positive balance of payments – to export more than we import Two other possible: ← To reduce inequality in the country – to redistribute income and wealth in order to help the poor To protect the environment – to avoid pollution and congestion What is Monetary Policy? Monetary Policy involves changes in the base rate of interest to influence the rate of growth of aggregate demand, the
Words: 1584 - Pages: 7
1598-2769 Journal of International Economic Studies Vol. 12, No. 1, June 2008 3 Determinants and Consequences of Non-Interest Income Diversification of Commercial Banks in OECD Countries* 1) Joon-Ho Hahm Professor, Graduate School of International Studies, Yonsei University jhahm@yonsei.ac.kr This paper studies determinants and consequences of the changing income structure of commercial banks in the era of financial conglomeration. Utilizing a dataset of 662 relatively large commercial banks
Words: 9807 - Pages: 40
Child labour Strategic Issue Report Author: Stephie Daniel Angel Introduction Throughout the world, especially in the less-developed countries, an immeasurable amount of children have been involved in what has been called child labour, and its prevalence has now sparked much worry. Child labour can be defined as any work that is harmful to a child’s health or interrupt a child’s education (International Labour Organisation, 2012). According to the International Labour Organisation
Words: 2301 - Pages: 10
under code 541511) (U.S. Census Bureau, 2007). Macroeconomic Variables There are numerous macroeconomic variables that can affect a business such as Gross Domestic Product (GDP), inflation, trade, interest rates, and unemployment. GDP is defined as the market value of all goods and services produced in an economy (McConnell & Brue, 2004). Increases in the GDP are a strong indicator of positive economic growth which equates to more disposable income for consumers and businesses. Likewise, a decrease
Words: 717 - Pages: 3
measurement of gross domestic product, unemployment, and inflation. Understand and describe the difference between business cycles and economic growth and the factors that contribute to each. Page 1 of 6 Understand and describe the concept of Macroeconomic Equilibrium. Understand and describe how Aggregate Demand and Aggregate Supply determine equilibrium price and output in the short-run and long-run. Understand and describe the multiplier concept, how it is computed, and its qualifications and
Words: 1389 - Pages: 6
