10 Money Market and the LM Curve MACROECONOMICS Macroeconomics Prof. N. Gregory MankiwRudra SensarmaKozhikode Indian Institute of Management www rudrasensarma info www.rudrasensarma.info ® PowerPoint Slides by Ron Cronovich © 2013 Worth Publishers‚ all rights reserved Learning objectives & outcomes • Money Market & the LM Curve – Real Money‚ Real Income & Interest Rate y‚ – Deriving the LM Curve – Monetary Policy & the LM Curve 2 Financial Markets (Money Market) and the LM
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THE PHILLIPS CURVE The short-run relationship between inflation and unemployment is often called the Phillips curve. In 1958‚ economist A. W. Phillips published an article in the British journal Economica that would make him famous. The article was titled “The Relationship between Unemployment and the Rate of Change of Money Wages in the United Kingdom‚ 1861–1957.” In it‚ Phillips showed a negative correlation between the rate of unemployment and the rate of inflation. That is‚ Phillips showed
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What Is the Problem Of an Ageing Population? Christine Loh August 2005 What is the ‘Problem’ of an Ageing Population? Christine Loh August 2005 Civic Exchange Civic Exchange is a non-profit organisation that helps to improve policy and decisionmaking through research and analysis. Room 701‚ Hoseinee House‚ 69 Wyndham Street‚ Central‚ Hong Kong Tel: (+852) 2893 0213 Fax: (+852) 3105 9713 URL: www.civic-exchange.org Disclaimer The views expressed in this report are those
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What Makes Success------ Nature or Nurture? --a book review on Outliers George Eliot has said: “it is never too late to be what one might have been.” Indeed‚ what makes success? People have been questioning for more than a century. Is it by nature or by nurture? In Malcolm Gladwell’s newest book Outliers which narrates the story of success‚ we can see the answer. Is it hard to being a successful person surrounded with glory and applause? Is it hard to being a successful
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guarantee the confidentiality of your answers. 1. What is your gender? A) Male B) Female 2. What is your age group in the follow answer? A) 13~18 B) 19~29 C) 30~39 D) 40~59 E) Over 60 3. What is your occupation? A) Student B) Housewife C) Health care worker D) Other_________ 4. Where are you know the products of Johnson’s baby? A) Newspaper & Magazines B) Commercial advertisement C) Store D) Family or Friend’s introduction 5. What kinds of produt of Johnson’s baby do you usually
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Learning Curve Primer The concept of a Learning Curve is motivated by the observation (in many diverse production environments) that‚ each time the cumulative production doubles‚ the hours required to produce the most recent unit decreases by approximately the same percentage. For example‚ for an 80% learning curve: If cumulative production doubles from 50 to 100‚ then the hours required to produce the 100th unit is 80% of that for the 50th unit. The learning curve formula can be expressed
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The Bell Curve The opinions of Herrnstein and Murray in their book‚ The Bell Curve is that human intelligence is both inherited and also has environmental factors that contribute to a person’s future in many different areas such as; finances‚ a career‚ when they start a family‚ and whether or not a person will break the law instead of a person’s level of education and economic status. The authors go on to say that the more intelligent people of society are keeping their distance from the less
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introduction to procurement UNDERSTANDING LEARNING CURVES ASSIGNMENT QUESTIONS 1. Given the above data‚ calculate the average labour per unit given the cumulative total labour hours provided. ______________________________ 2 2. Calculate the appropriate learning rate and the overall average improvement rate for this data set _____________________________________________ 3 3. Plot the data on an X-Y chart. Label the X axis “Units Produced” and the Y axis “Average Labour per Unit
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Stock Market Model (Sine Curve) Sine curve is a technique used in everyday life. Whether it be from sound waves‚ to electrical curves‚ or light waves‚ sine curve is all around us. One place that is hugely affected by sine curve is the STOCK MARKET. The stock market is where “ publicly held companies are issued or traded through either exchanged or over-the-counter market”(investopedia.com). The purpose of using sine curve is to show whether or not the market is a cycle mode or a trend mode
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Bombay The long-run cost curve (LTC) is composed of a series of short-run cost curves. Assumes that the firm has only one plant‚ with the corresponding short-run cost curve given by STC1‚ Suppose the firm decides to add two more plants with associated two more short-run cost curves given by STC2 and STC3. Prof. Trupti Mishra‚ School of Management‚ IIT Bombay The long-run total cost curve (LTC) is then drawn through the minimum of the short-run cost curves‚ STC1‚STC2‚ and STC3. The
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