Summary of information on each subject/module | |Name of Subject/Module |Introductory Macroeconomics | | |Subject Code |BME1024 | | |Status of Subject |Foundation | |
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Output c. Per Capita Income d. National Income Accounting 5. 6. The table shows some data from a country’s national accounts for one year 7. 8. $ millions 9. Consumers’ expenditure 10. 25 000 11. Gross investment 12. 5 000 13. Government consumption 14. 5 000 15. Exports 16. 4 000 17. Imports 18. 6 000 19. Taxes on expenditure 20. 4 000 21. Subsidies 22. 1 000 23. Net property income from abroad 24. 1 000 25. Depreciation 26. 2 000 27. 28. What is gross national product at market prices? a. $32
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distributions 5 (e) Certain dividends from foreign corporations 6 IRC 246(b)‚ 246(c) - Rules applying to deductions for dividends received 6 (b) Limitation on aggregate amount of deductions 6 (c) Exclusion of certain dividends 6 IRC 248 - Organizational expenditures 8 (a) Election to deduct 8 (b) Organizational expenditures defined 8 (c) Time for and scope of election 8 IRC 170(a)(2)‚ 170(b)(2)‚ 170(d)(2) - Charitable‚ etc.‚ contributions and gifts 9 (a) Allowance of deduction 9
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Deficit spending and the Crowding Out Effect Deficit spending occurs when expenditures exceed an economies income or revenue from taxes. The concept is most associated with Governments however; it does apply to individuals also. This paper will analyze deficit spending‚ advantages‚ and disadvantages. In either case of advantage or disadvantage‚ deficit spending has multiple effects on economies and full of controversy. Hassan‚ M.‚ Nassar‚ R.‚ & Liu‚ C. identifies “The relationship between government
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INDEX Chapter No. NAMES Page No. Microeconomics 1 2 3 4 Basic concepts Demand and supply Consumer’s Behaviour Analysis Perfect and Imperfect Competition Macroeconomics 5 6 7 8 National income analysis Consumption‚ Saving and Investment Determination of National Income Monetary and Fiscal Policies Economic Systems 9 10 Capitalism‚ Socialism and Mixed Economic System Islamic Economic System 74 81 33 39 62 69 2 7 15 21 1 ECONOMICS: It is a social science (social science is a science‚ which studies
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BUS 802 MODULE 1 NATIONAL OPEN UNIVERSITY OF NIGERIA SCHOOL OF MANAGEMENT SCIENCES COURSE CODE: BUS 802 COURSE TITLE: ECONOMIC THEORY 1 BUS 802 ECONOMIC THEORY COURSE GUIDE BUS 802 ECONOMIC THEORY Course Team Dr. J.O. Onyemaechi (Course Writer/Developer) NOUN Dr. A. O. Fagbemi (Course Editor) Dr. C. I. Okeke (Programme Leader) - NOUN Dr. O. Adenuga (Course Coordinator) - NOUN NATIONAL OPEN UNIVERSITY OF NIGERIA 2 BUS 802 MODULE 1 National Open University of Nigeria Headquarters
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CHAPTER 3 – INTERDEPENDENCE BETWEEN MAJOR SECTORS‚ MARKETS AND FLOWS IN THE MIXED ECONOMY STUDY UNIT 1 Production‚ Income and Spending *Identify the three major flows in the economy Production – occurs and generates income Income - earned Spending – Buy available goods and services *Distinguish between a flow and a stock (Box 3-1 Stocks and Flows) STOCKS FLOWS Measured at a particular point in time NO time dimension Has a Time dimension – only measured over a period Water level
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and supply of loanable funds decrease | | | | | | Long term interest rate fall | | Long term interest rate rises | | | | | | Consumption‚ expenditure‚ investment‚ and net export increase | | Consumption‚ expenditure‚ investment‚ and net exports decrease | | | | | | Aggregate demand increases | | Aggregate demand decreases | | | | | | Real GDP growth‚ employment rate and Inflation rate increases | | Real GDP growth‚ employment rate and Inflation rate decreases
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PRINCIPLES OF MACROECONOMICS LECTURE 1: INTRODUCTION Definition of Macro economics Macroeconomics is the study of the behaviour of large collections of economic agents (aggregates). It is the study of the economy as a whole. It focuses on explaining economic changes that affect many households‚ firms‚ and markets simultaneously. Some of the important macroeconomic questions are: Why is income high in some countries while it is low in others? why do prices rise rapidly sometimes and are stable at
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growth due to increases in aggregate demand which lead to actual growth‚ interest rates‚ exchange rates‚ as well as investment in increasing labour productivity and technology as well as full gearing of factors of production. Rapid economic growth can be caused by actual growth‚ meaning an increase in aggregate demand (AD) which is the total spending on goods and services in an economy over a given period of time. . It is calculated using the formula AD = consumer expenditure (C) + investment (I) +
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