Describe the macroeconomic variables, Macroeconomics

Assignment Help:

Q. Describe the macroeconomic variables?

In this section we have summarizes all the macroeconomic variables. The first column denotes the symbol we use for variable whereas column 2 shows the name of variable.

Variable

Variable name          

Real GDP

Price level

P.Y

Nominal GDP

U

Unemployment

L

Hours worked

K

Amount of capital

W

Nominal wage

W/P

Real wage

M

Money supply (nominal)

R

Nominal interest rate

r

Real interest rate

C

Private consumption (real)

I

Investments (real)

G

Government expenditure (real)

NT

Net tax (real)

X

Exports (real)

Im

Imports (real)

NX

Net exports (real)

SH

Household savings (real)

SG

Government savings (real)

SR

Rest of the world savings (real)

p

Inflation

pe

expected inflation

pw

Wage inflation

pM

Growth in money supply

E

Exchange rate

pE

Depreciation in exchange rate

Two of the variables are stock variables: K and M. Prices can't be characterized as a stock or flow variable. P, W, R, r and E apply at a given point in time whereas p, pe, pw and pE apply over a period of time. p, pw and pE are changes in P, W and E during previous time period while pe is the expected change in P during next time period. All the other variables are flow variables measured in some unit per unit of time (for instance, L is the number of hours worked per year or per any other unit of time).


Related Discussions:- Describe the macroeconomic variables

interpret and explain the nmr spectrum, Treatment of Na2PdCI4 with 3-chlor...

Treatment of Na2PdCI4 with 3-chloro-2-methyl-1-propene under an atmosphere of CO yields the dimer [(11 3 - C 4 H 7 )PdClb (A). The 1H NMR spectrum of A at 298 K shows 3 signals: a

Making lease payments that are equivalent to annual payments, A company can...

A company can lease an asset for the next five years by making lease payments that are equivalent to annual payments of $3,000 at year 0, $6,000 at year 1, $7,000 at year 2, $7,000

Example of introducing the government- accounting system, Example of Introd...

Example of Introducing the Government- ACCOUNTING SYSTEM   So far there was no government in any of our stylized economies. Let us now introduce it. To begin with, our governmen

Mercantilist economists, Evaluate the mercantilist economists. Determine wh...

Evaluate the mercantilist economists. Determine which economist you feel made the most significant contribution to economic theory. Provide at least two (2) reasons to support your

Number of unemployed remained the same, In a particular month, the labor fo...

In a particular month, the labor force is 130 million, there are 9.1 million unemployed workers, the job -losing rate is 3% per month, and the job-finding rate is 40% per month. Ho

Types of market, #five differnces between a monopoly market and a monopolis...

#five differnces between a monopoly market and a monopolistic market

Equilibrium quantity price and quantity, Over the past few years there has ...

Over the past few years there has been much concern about falling housing prices, and some policy makers have argued that the government should put a floor under prices so that the

What is the value of the test statistic, For the United States, the mean mo...

For the United States, the mean monthly Internet bill is $32.79 per household (CNBC, January 18, 2006). A sample of 50 households in a southern state showed a sample mean of $30.63

Classical labour market, using a classical labour market , illustrate the e...

using a classical labour market , illustrate the effects of a real wage existing in the market that is lower than the equilibrium real wage. what will eventually happen in this lab

Debt , What is debt swept?

What is debt swept?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd