of the economy. Sustained economic growth should lead higher real living standards and rising employment. Short term growth is measured by the annual % change in real GDP. Growth and the Production Possibility Frontier An increase in long run aggregate supply is illustrated by an outward shift in the PPF. Advantages of Economic Growth Sustained economic growth is a major objective of government policy – not least because of the benefits that flow from a growing economy. * Higher Living
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cross diagram shows the two lines which represent the real GDP and the Aggregate planned Expenditure. There is usually a point of interception between the real GDP and the Aggregate planned Expenditure‚ which is the equilibrium expenditure. The equilibrium expenditure is a level of aggregate expenditure and real GDP at which everyone‘s spending are fulfilled. When the aggregate planned expenditure is not the same as actual aggregate expenditure‚ a process of convergence towards the equilibrium expenditure
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: To determine suitable elongation aggregate for pavement. APPARATUS : 1. Sieve 2. Elongation equipment 3. Tray 4. Scale weight 5. Sieve vibrator MATERIAL : 2000g aggregate. PROCEDURE 1. Deliberate 2000g sample of aggregate. 2. Size of sieve :- 6.3mm‚10mm‚14mm‚20mm
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equals the equilibrium wage rate. d. the CPI equals aggregate demand (AD) equals short-run aggregate supply (SRAS) equals long-run aggregate supply (LRAS). ____ 2. Which of the following would cause a decrease in the short-run aggregate supply curve (SRAS)? a. An increase in oil prices. b. An advance in technology. c. An increase in the CPI. d. An increase in the long-run aggregate supply curve (LRAS). Exhibit 10A-1 Aggregate demand and supply model ____ 3. Beginning
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1) Bill Young believes that because his employees were not responsible for the 9/11 attacks‚ they should not have to suffer loss of income as a consequence. Businesses are always subject to economic forces over which they have little or no control. Should the business response to something like the 9/11 attacks be any different from the response to “normal” fluctuations in the business cycle? If so‚ why and how? If not‚ why not? How does the example set by Aaron Feuerstein influence your decision
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Southwestern University With the rising demands of a successful football pro gram‚ the campus police chief at Southwestern Uni versity‚ John Swearingen‚ wants to develop a 2-year plan that involves a request for additional resources. The SWU department currently has 26 sworn offi cers. The size of the force has not changed over the past 15 years‚ but the following changes have prompted the chief to seek more resources: · The size of the athletic program‚ especially foot ball‚ has increased. · The
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(a) Aggregate Output/Income 2‚000 2‚500 3‚000 3‚500 4‚000 4‚500 5‚000 5‚500 Consumption 2‚100 2‚500 2‚900 3‚300 3‚700 4‚100 4‚500 4‚900 Planned Investment 300 300 300 300 300 300 300 300 Saving –100 0 +100 +200 +300 +400 +500 +600 Unplanned Inventory –400 –300 –200 –100 0 +100 +200 +300 Equilibrium Output Y* = 4‚000. When Y < 4‚000‚ inventories are lower than desired (unplanned investment is negative). Firms will increase production to increase their inventories‚ causing aggregate output/income
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individual voting decisions in hundreds of districtly individual contests combine to produce intelligible election results. Before the tools of survey research came into common use‚ politicians and political analysts had little problem interpreting aggregate congressional election results. It was widely believed that economic conditions and presidential politics shaped the electoral prospects of congressional candidates. It is no great challenge to interpret
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placed. The most important things that cause rust could be divided into two chemical and physical causes. The Chemical durability complications are disturbed with countless formulae reactions of cement-aggregate. On the other hand In the physical durability aspect problems are concerned from the aggregates that are susceptible to thawing or drying or freezing and wetting‚ in addition to physical wear. Durability of concrete is measured by the ability of concrete to resist many characteristics such
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to find the main components of the “Aggregate Production Planning” problem and briefly describe which are “pure strategies” and “mixed strategies” to solve this problem. The aggregate demand is the total demand for all products/services produced by a production facility without considering size‚ models‚ etc.‚ usually there are significant seasonal variations. The objective of the Aggregate Production Plan is to manage production in order to meet the aggregate demand‚ matching capacity with demand
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