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What is productivity?
Productivity or average product (AP):
It is output person which is output divided through number of workers AP= Q/L. There labour Productivity can be demonstrated as output per worker or output per hour worked.
Fixed versus floating exchange rates: To begin with, we will briefly review the balance of payments (BOP) table of a nation that you studied in the course on international eco
The Phillips curve in Lowland takes the form of ? = 0.04 - 0.5 (u - 0.05), where ? is the actual inflation rate and u is the unemployment rate. The Phillips curve in Highland takes
what happens when there is changes in the quantity supply?
Describe how price level evolves over time Using the time series we can study how price level evolves over time. If all prices rose by 2% during one month, price level would ri
factors that causes the shifts in balance of payments
Unemployment rate (LUNEMP): A key variable to assess the performance of any economy when an economy is growing, the unemployment rate will fall as job creation increases and in
If population growth is greater than the growth of real output, A. real per capita Gross Domestic Product (GDP) growth will be less than the growth of real Gross Domestic Product
Consider the following: The city council has just approved the construction of a water park in your town. You are responsible for studying the impact of the new water park on the l
All of the following fiscal policies will contribute to increasing budget deficits except: A. cuts in aid to farmers. B. tax cuts. C. increases in defense expenditures. D. increase
With the aid of a diagram explain the Philip''s curve
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