What are the main macroeconomics variables? | MyTutor
Economic growth is extremely desirable because it means that, in general, the people within an economy are getting richer. Economic growth can be increased in a number of ways, such as technological improvement , an increase in the demand for goods and services, and an increase in the size of the workforce (a fall in unemployment).
How does GDP perform as an indicator of economic welfare?
The calculation of GDP at no point involves whether or not the welfare of the people has improved, GDP is used as an indicator of a standard of living because the central variables tend to attribute towards factors that improves people’s welfare within an economy. GDP should be considered as an indicator of economic activity.
Evaluate the likely economic effects of an increase in ... - MyTutor
Therefore, this increase in government expenditure will likely cause economic growth, but also when the national economy lacks capacity, a rise in inflation. However, in evaluation, one must consider the adverse effects of an increase in government spending.
In the context of place, what are endogenous and exogenous
Endogenous factors can also be related to the human characteristics of a place and the activities that occur there, such as its land use, built environment and infrastructure, and demographic and economic characteristics. In contrast, exogenous factors are external influences on the identity of …
What is a longitudinal study and what are the advantages of
A major advantages of longitudinal studies is the quantity and quality of the data collected, enabling rich insights into and about the variables of interest, including how they relate to demographic factors, such as, socio-economic status.
What factors can shift the supply curve and explain the ... - MyTutor
What is the difference between short-run and long-run economic growth? Answered by Chet H. On a Production Possibility Frontier diagram, indicate a point where resources are efficiently allocated (label X) and an inefficient one (labelled Y).
Why did Ronald Reagan win the 1980 US presidential election?
Reagan's remarkable success resulted from Jimmy Carter's poor record and economic malaise, Reagan's personal charisma and a growing tide of conservatism in America. The 1980 election came after the bleak 1970s with Vietnam, Watergate, the oil crisis and general economic underperformance all contributing to a difficult term for Jimmy Carter ...
'What are the disadvantages of economic growth?' - MyTutor
A side effect of economic growth is inflation, this is due to an increase in AD from AD1 to AD2 (diagram drawn) increasing price level from P1 to P2. Inflationary pressure increases the inflation level which may increase the difference between current price level and the inflation target of 2%.
How does actual economic growth differ to potential economic
Actual economic growth can also be known as demand side economic growth because it is affected by changes in the demand in an economy. It is an increase in output as measured by real GDP/ national income. It can be achieved by shifting AD (Aggregate demand) to the right by increasing AD, by influencing any of the factors of aggregate demand.
What was Durkheim's study of suicide? - MyTutor
This can be seen mostly in cases of dramatic economic and social change (for example, the change in the economy in Greece has affected the once low suicide rate) [Another example could be potentially veterans, who once had a lot of regulation and have then exited the military with no regulation and strict rules to adhere by, losing their sense ...