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macro-economics

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macro-economics
ˌmacro-ecoˈnomics, n. pl. (usu. const. as sing.). Also macroeconomics. [f. macro- + economic B. n. 2 c.] The science or study of the economy as a whole. Opp. micro-economics n. pl. So ˌmacro-ecoˈnomic a.1948 Econometrica XVI. 309 (heading) Some conditions of macroeconomic stability. 1948, 1949 [see ... Oxford English Dictionary
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PPCs for increasing, decreasing and constant opportunity cost
So that third rabbit, my opportunity cost is 60 berries. I'm getting really good at catching rabbits, so clearly, you see here, that for each incremental rabbit I get, my opportunity cost is decreasing, all the way to that fifth rabbit, maybe my opportunity cost is 20 berries. To catch that next extra rabbit, I'm giving up those 20 berries.
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Money: Quantity theory of money | SparkNotes
Thus, according to the quantity theory of money, when the Fed increases the money supply, the value of money falls and the price level increases. In the SparkNote on inflation we learned that inflation is defined as an increase in the price level. Based on this definition, the quantity theory of money also states that growth in the money supply ...
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Steady State Growth of Economy: Meaning and Properties
Steady state growth can also be shown by taking both the saving-income ratio and the capital-output ratio as variables. With the classical saving function given by sp. π/Y, the warranted growth rate s/v can be written as: Where π/K is the rate of profit on capital which can be denoted by r. Thus the warranted rate becomes spr.
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Opportunity cost & the production possibilities curve (PPC) (article ...
1. In order to show a country having constant opportunity cost, the PPC curve for that country would have to be linear. 2. In order to draw a PPC curve with an increasing opportunity cost, but not working efficiently, the slope of the line would have to be exponential while the productivity is somewhere below that curve.
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Opportunity costs and the production possibilities curve (PPC) (video ...
Opportunity cost is the trade-off that one makes when deciding between two options. The example of choosing between catching rabbits and gathering berries illustrates how opportunity cost works. The related concept of marginal cost is the cost of producing one extra unit of something. Created by Sal Khan.
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Determinants of demand: income (normal and inferior goods), population ...
Demand goes up. And remember, when we're talking about when demand goes up, we're talking about the whole curve shifting to the right. At any given price point, we are going to have a larger quantity demanded. So the whole curve, this whole demand schedule would change. And likewise if income went down, demand would go down.
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Macroeconomics, Economic Principles in the Real World - Part 2
May 2, 2022Economic Growth and productivity Module Overview. When you read the daily business news, it is dominated by reports of stock price fluctuations, the monthly unemployment and inflation rates, trade statistics, and speculation about whether the Federal Reserve will raise interest rates.
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Determinants of supply (video) | Khan Academy
The video is about supply, it does not say anything about demand. If the price goes up, for whatever reason, if the people have the money to buy a given good or service is a matter of demand. Lets imagine a situation, where the price goes up, no matter why. In that case, the suppliers will be willing to sell more at this price.
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Determinants of demand: expectations (video) | Khan Academy
Demand is the "relationship" between "quantity demanded" and "price", so when plotted in a figure, demand is like a curve where "quantity demanded" and "price" are axes. Thus a change in demand is shifting this curve while a change in "quantity demanded" indicates another point on this exact curve.
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课程摘要：商业周期 (文章) | 商业周期 | 可汗学院
每当一个国家的现实产出大于或小于潜在产出时，就会存在产出缺口。在经济周期模型中，每当经济周期曲线高于增长趋势时，就意味着一个经济体正在经历的产出缺口为正。每当商业周期曲线低于增长趋势时，就意味着经济正在经历的产出缺口为负。
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Supply and the determinants of supply (article) | Khan Academy
Factors that influence producer supply cause the market supply curve to shift. For example, one of the determinants of supply in the market for tuna is the availability and the price of fishing permits. If more fishing permits are made available and the permit fee is lowered, we can expect more fisherman to enter the market; as a result, the supply of tuna will likely increase.
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Comparative advantage vs absolute advantage (video) - Khan Academy
Alejandro Carvallo. 8 years ago. Absolute Advantage: is the capability to produce more of a given product than the other country for the same input of resources (time, etc). Comparative Advantage: the ability to produce a given product for lower opportunity cost over another product.
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Practice on changes in demand and the law of demand (practice) | Khan ...
Course: AP®︎/College Macroeconomics > Unit 1. Lesson 4: Demand. Law of demand. Price of related products and demand. Change in expected future prices and demand. Changes in income, population, or preferences. Normal and inferior goods. Change in demand versus change in quantity demanded. Lesson summary: Demand and the determinants of demand.
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Normal goods vs. inferior goods (video) | Khan Academy
An "inferior good" is a good where, when the individual's income rises they buy less of that good. It is important to note that all other variables are held constant (i.e. "ceteris paribus"). Also, the opposite relation is also true. For a normal good, if income falls, less of the normal good will be purchased.
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