phrase ‘double-dip recession’ which now commonly used in the West. Macroeconomics is concerned with the study of aggregate economy‚ which embodies all nationally relevant economic indicators. The common indicators are the unemployment rate‚ the rate of inflation‚ the GDP per capita‚ economic growth‚ the economic cycle‚ and the labor force. Since 2003‚ Brazil’s economy has been growing steadily. It has been improving its macroeconomic stability despite a small crisis in 2008 which saw its growth rate
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Fundamentals of Macroeconomics In order to accurately understand countries true economic outlook a person must consider many values. There is not just one value‚ although some may be better indicators than others. From purchasing of groceries‚ massive layoff of employees‚ to a decrease in taxes‚ each affects not only governments and businesses‚ but the general household as well. It is important for everyone to have a general understanding of how money flows within his or her economy from
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University of Phoenix Material Macroeconomic Terms Describe the following terms in your words. Term Definition Gross Domestic Product (GDP) Is the total market value of a country’s goods and services been produced or made within that country for a precise period of time. It is also known as the toatal value of a nation’s goods and services produced domestically in that particular year. Real GDP Is the calculation of an economy which involves the quantifying of inflation on how the market
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Advance Macroeconomics 1. Why the rich become richer and poor become poorer? It is because of the rising in inequality. He rich have got richer‚ and the poor have become relatively poorer. It is not that the real incomes of the lowest paid have fallen (though in some cases real incomes have been stagnant) but‚ they have fallen behind higher income earners. The gap between the highest paid and lowest paid has increased. In the past couple of decades it feels like the ‘rich have got richer
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Principles of Macroeconomics Coursework Rodoula Makri ECON101-EN Question 1: a) Price of substitute good falls - As seen on the diagram above when price of substitute product A rise‚ then demand for substitute product B rises accordingly. Positive relationship between the two. Shift to the right. b) Taste shifts away from the good - Whe the taste shifts away from the good it becomes less desirable‚ making its demand for it decrease. Shift to the left. c) Price of complimentary good
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Macroeconomics Assignment: Unemployment Unemployment Data for August of 2013 Employment (rose/fell/remained unchanged)‚ and the unemployment rate edged (up/down/stayed unchanged) to (?) percent in the last month. Total nonfarm payroll employment increased by 169‚000 in August‚ and the unemployment rate was little changed at 7.3 percent‚ the U.S. Bureau of Labor Statistics reported today. Employment rose in retail trade and health care but declined in information. The jobless rate had
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A First Look at Macroeconomics Economic Growth • Definition: the expansion of the economy’s PPF (outward shift) • Measured by the increase in real domestic product (also called real GDP) Costs Benefits Forgone current consumption Technological progress Slow growth rates = real costs (e.g. compromised health care‚ worse roads‚ less housing etc.) Greener environment (questionable) Fluctuations of Real GDP around Potential GDP: the Business Cycle The Okun Gap Definitions: • Actual GDP:
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Questions in macroeconomics Instructor: MA. Bui Huy Khoi Chapter 1 What is economics? Top of Form [pic] Question 1 Resources in an economy: a) Are always fixed b) Can never decrease c) Always increase over time d) Are limited at any moment in time [pic] Question 2 Human wants are: a) Always fixed ) Limited c) Unlimited d) Likely to decrease over time [pic] Question 3 The sacrifice involved when you choose
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expectations‚ income‚ and other goods. Examples of a shift in supply would be price inputs and technology. I believe that I am comfortable with supply and demand; however‚ I struggle with the graphs and the visuals of the shift. By taking macroeconomics before this class‚ in ways has prepared me to have a better understanding of microeconomics and how the economy is studied. Joan Sancho Gathering from chapter one reading‚ it states “a key element in getting people to recognize that lunches
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• Micro vs. Macro • Microeconomics – the study of how individual households and firms make decisions and how they interact with one another in markets. • Macroeconomics – the study of the economy as a whole. – Its goal is to explain the economic changes that affect many households‚ firms‚ and markets at once. • The Two Groups of Economists • Macroeconomists • Focus on the economy as a whole. • Spend much time analyzing how total income changes and how changes in income cause changes in
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