Learning Team Deliverable Week 4 Learning Team D – Walter Branch‚ Ramon Castillo‚ Barbara Farve‚ Kristofer Genilo ECO/561 – Economics 11/24/2014 Peter Oburu Measuring Domestic Output and National Income – Ch. 24 Topics comfortable Kris is comfortable with the concept of gross domestic product (GDP) as it is the dollar value of goods and services in a country during a set period. Walter is comfortable with the GDP concept and understands that is the economic thermometer of the country’s
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Shamsad Ahmad‚ Abul Kalam Azad‚ and Mohammed Abdul Hameed A STUDY OF SELF-COMPACTING CONCRETE MADE WITH MARGINAL AGGREGATES Shamsad Ahmad∗‚ Abul Kalam Azad‚ and Mohammed Abdul Hameed Department of Civil Engineering King Fahd University of Petroleum & Minerals Dhahran‚ Saudi Arabia 1. INTRODUCTION Self-compacting concrete (SCC)‚ developed first in Japan in the late 1980s‚ represents one of the most significant advances in concrete technology in the last two decades. SCC was developed to ensure
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Introduction The function of the aggregate supply and aggregate demand model is to give details on how real growth domestic product and the price level are determined and how they interact with each other‚ this is as according to Parkin et al (2013:632). As defined by Parkin et al (2013:636) the quantity of real growth domestic product demanded is the overall volume of final goods and services produced in South Africa that people‚ businesses‚ governments and foreigners plan to buy. The quantity
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1.0 Sources of aggregates Properties Test 1.1 Aggregates selection Plate 1.1 (a) Plate 1.1 (b) 1.2 Flakiness and Elongation Test Plate 1.2 (a) Plate 1.2 (b) 1.3 LA Abrasion test Plate 1.3 (a) Plate 1.3 (b) 1.4 Sieve and Wet Sieving Analysis Plate 1.4 (a) Plate 1.4 (b) 1.5 Aggregate Impact Value (AIV) test Plate 1.5 (a) Plate 1.5 (b) 1.6 Specific of Fine and Coarse Aggregate test
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that lead to the shift of the aggregate supply of the economy as shown in the figure. The Aggregate supply curve from AS0 to AS1. this shift is because of the technical progress during the concerned period. The technical progress caused the economy to produce a higher level of produce from the same amount of inputs because of productivity enhancement which caused the prices in the economy to cool off automatically. This is visible in the graph where the aggregate price in the economy falls from
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Impact test or on stoneaggregates as in Aggregate Impact test. The Page Impact test is not carried out now-a-days and has alsobeen omitted from the revised British Standard for testing mineral aggregates. The aggregate impact testhas been standardized by the British Standard Institution and the Indian Standard Institution.The aggregate impact value indicates a relative measure of the resistance of aggregate to a sudden shockor an impact‚ which in some aggregates differs from its resistance to a slow
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MCD2090 Revision Tutorial ( T2‚ 2012) The following questions have been taken from the weekly tutorial questions. You are expected to attempt all of the following questions before you attend tutorial in week 12. 1. Topic: Saving‚ Investment and the Financial System Terms and definitions: * * Financial system * Financial market * Financial intermediaries * Market for loanable funds * Real interest rate * Investment tax credit * Budget deficit * Budget
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LRAS1 AD1 AD2 SRAS1 SRAS2 P3 P2 P1 Y* Y1 Y2 A C B D Beginning at Point A‚ consumer confidence in the economy increases‚ leading to an increase in consumer spending and causing the AD curve to shift rightward to AD2. If changes in aggregate demand didn’t cause the price level to immediately change‚ production would increase by the entire amount of the change in AD‚ to (Y*/Y1/Y2) at Point (A/B/C/D). However‚ rightward shifts in AD do cause prices to immediately begin increasing‚ because
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prices and wages. -The aggregate supply curve is vertical at the full-employment level of output; the aggregate demand curve is stable if the money supply is constant. -Government macroeconomic policies are unnecessary and counter-productive; automatic‚ built-in mechanisms provide for full-employment output. KEYNESIAN THEORY -Keynesian analysis unlinks saving and investment plans and discredits downward price-wageflexibility‚ implying that changes in aggregate spending‚ output‚ and employment
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Macroeconomics – Chapter 10: The Aggregate Demand/Aggregate Supply Model * Keynesian Economics – Economists who focused on the short run * John Maynard Keynes - their leading advocate * the originator of macroeconomics as a separate discipline from micro * Classical Economists – economists who focused on long-run issues such as growth * Aggregate Demand Management – government’s attempt to control the aggregate level of spending in the economy * Equilibrium Income
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