EconomicGrowth Economicgrowthrepresentstheexpansionofacountry’spotentialGDPornationaloutput.Putdifferently,economicgrowthoccurswhenanation’sproduction-possibilityfrontier(PPF)shiftsoutward.Acloselyrelatedconceptisthegrowthrateofoutputperperson.Thisdeterminestherateatwhichthecountry’sstandardoflivingrising.DifferenceBetween...
employment rates rise, and consumer confidence strengthens. The peak phase occurs when the economy reaches its maximum productive output, signaling the end of the expansion. After that point, employment numbers and housing starts to decline, leading to a ...
(1)expansion: This happens whenreal GDP increasesandnatural rate of unemployment decreases 扩张: 当实际GDP增长的时候, 自然失业率下降 (2)contraction: This happens when real GDP decreasesandnatural rate of unemployment increases 收缩: GDP负增长/下降, 自然失业率上升 Notice that if the contraction last...
TheNational Bureau of Economic Research (NBER)determined that February 2020 was officially the peak and end of economic expansion that started following the Great Recession, as the U.S. economy contracted in the wake of the COVID-19 pandemic. At two months, the recession that came after was ...
When vital production knowledge is tacit and cannot be generated indigenously, entrepreneurs in developing countries have to rely on the international transfer of the knowledge through on-the-job training. Once the initial seeding of tacit knowledge occurs, mechanisms concerning its propagation in the ...
interviewees: 1) the common need to conduct additional safety training to ensure that users follow safety protocol after donning the headset and 2) the risk of additional training that may be needed for change management and process redesign that often occurs ...
Thus, in 2040, the global price of CO2 may range from $21 (when an initially-anticipated economic recovery never occurs) to $128 (in case of nonanticipated rapid economic recovery). In addition, we show that within each region, the model internalizes the constraints limiting the expansion ...
When facing a shock, regional economies adjust to recover from losses, sending relative price signals to different sectors locally and to industries in other regions on the types of goods and services that are more demanded. This ripple effect occurs via the domestic and international reallocation ...
asserting that an individual is regulated and driven by the motivation arising from their propensity to actualize themselves as much as possible in line with their potential. Abraham Maslow's hierarchy of needs emphasizes that the realization of human potential occurs only when all basic and psycholog...
Infrastructure spending occurs when a local, state, or federal government spends money to build or repair the physical structures and facilities needed for commerce and society as a whole to thrive.Infrastructureincludes roads, bridges, ports, and sewer systems. Economists who favor infrastructure spend...