According to traditional Keynesian analysis, which has a larger impact on GDP a dollar of tax cuts or a dollar of additional government spending? Explain. How do you calculate tax multiplier in macroeconomics? According to the neo-Keynesian perspective, the government should ...
Real GDP and nominal GDP are equal measures of economic well-being. Since GDP measures the nation's output at current market prices, then if a good or service is not exchanged through the marketplace, it cannot and does not go in...
Bloomberg) — China’s trade surplus may slide 19 percent in 2010 as imports surge because of growing domestic demand, Bank of America-Merrill Lynch said. The amount will narrow to $160 billion from an estimated $198 billion this year, Lu Ting, a Hong Kong-based economist for Merrill, sai...
(European Commission, 2015), which itself is based on the OECD-FAO (2015) agricultural market outlook and gives medium-term projections up to the year 2025 in a consistent framework, using also external sources for the assumptions on macroeconomic developments (like GDP growth, exchange rates, ...
As Imports are parts of consumption? How could real GDP grow while, over the same period, real GDP per capita falls? What are the components of aggregate expenditure? Which components vary with changes in the level of real GDP? How does the GDP deflat...
OP: Openness The ratio of total goods traded (imports and exports) to regional GDP, representing economic openness to global markets China Statistical Yearbook, World Bank World Development Indicators, World Trade Organization (WTO) Percentage (%) Table 3. Descriptive statistics. VariableMeanStd. Dev...
Graphs with trade decomposed into imports and exports are presented in Online Appendix Figures A1 and A2. Consistent with the discussion in Sect. 2, Fig. 1a shows that the association between trade in agricultural products and GDP per capita is negative because specialization in ...
If short-run equilibrium GDP is above potential GDP, prices will eventually rise. True or false? During a recession, real GDP falls. The multiplier effect measures the change in GDP to spending. True or false? Imports and exports are not included in GDP. True...
Net exports is the difference between total exports and total imports. A country with a positive (negative) net export is said to be running a trade surplus (deficit).Answer and Explanation: Canadian GDP does notcount the value of a product bought by a...
TheGenuine Progress Indicator (GPI)is considered an alternative measurement of a country's economic well-being. While GDP measures economic activity, GPI considers the economic, social, and environmental costs and benefits of that activity and adjusts GDP for them.4Essentially, it nets out the pos...