Macroeconomics is a branch of economicsthat examines large-scale economic factors, such as GDP, interest rates, or inflation. Unemployment is also a macroeconomic factor. Macroeconomics contrasts with microeconomics,which focuses on the behavior of individualcompanies, households, and markets. As supply ...
, which in turn would depend upon supply factors such as the rate of growth of thelabour forceand the rate of growth of technical progress orproductivity. If for some reason these were to grow more rapidly, then output would also grow more rapidly as demand adjusted upward to the more ...
including the factors determining the general level of wages in an economy and the reasons for wage differentials between industries and occupations. There is no question that wages are influenced by trade unions, and the impact of union activities is of increased importance at a time when...
The GDP of year 2 is divided by the GDP of year 1 and the answer is subtracted by one. That is, Growth Rate = (GDP_Year2/ GDP_Year 1) - 1. How do you calculate economic growth rate? To calculate the economic growth rate, the growth rate of a financial measure is calculated. ...
This way, the analysis on the wellness of the country's economy is free from inflationary effects. This is done by fixing the prices to a base-year valuation. This way, the prices are adjusted, and only the other factors can be attributed to the price increases and not the inflation ...
This means a seat on the same flight might have different prices at different times, reflecting its changing value in the eyes of customers as they weigh factors like urgency, convenience, and availability. This strategy allows airlines to maximize revenue from each flight. Geo-based pricing: ...
The hand played a key role in the economic cycles of history, from the governance of the Roman Empire, to the rise of the Mongol Empire, to the dominance of Great Britain as a global superpower. Adam Smith was the first one to formally describe the invisible hand in economics....
Monetary theory is based on the idea that a change inmoney supplyis a key driver of economic activity. It argues that central banks, which control the levers of monetary policy, can exert much power over economic growth rates by tinkering with the amount of currency and other liquid instrument...
The family character gathers firms whose weight in the economic activity of countries is considerable for developed countries as well as for the others. However, this type of firm is exposed to not only the threats that challenge all types of firms but they must also face dangers related to ...
With external economies of scale, costs also may fall because of increased specialization, better training of workers, faster innovation, or shared supplier relationships. These factors are typically referred to as positiveexternalities; industry-level negative externalities are called externaldiseconomies. ...