Study sets matching "economic growth early"
Study sets
Diagrams
Classes
Users
4 advancements to American Economic Gro…
Henry Clay 1816 American System
Industrial Revolution
transportation revolution
Henry Clay 1816 American System, Industrial Revolution, Transp…
national bank- provided sound currency and served as governmen…
switch from hand made goods to machine made goods, mass produc…
canals- Erie Canal 363 miles long, steamboats- Clermont 1807,…
4 advancements to American Economic Gro…
Henry Clay 1816 American System, Industrial Revolution, Transp…
Henry Clay 1816 American System
national bank- provided sound currency and served as governmen…
The rise of the Industrial Revolution l…
The most profound economic development…
The Erie Canal revolutionized domestic…
The following pairs match inventions wi…
all of these choices are correct
rise of the factory
transfer of goods from New York to New Orleans along inland wa…
Samuel Slater -- standardized muskets
The rise of the Industrial Revolution l…
all of these choices are correct
The most profound economic development…
rise of the factory
Erie Canal
Elizabeth Blackwell
McCulloch vs. MD
Adams-Onis Treaty
1817: most profitable barge canal, connected Great lakes to Hu…
went to Geneva Medical College in west NY, graduated 1849, fir…
1819, Supreme Court ruling that declared it unconstitutional f…
Florida gets US from the Spanish if US pays $5 million to Amer…
Erie Canal
1817: most profitable barge canal, connected Great lakes to Hu…
Elizabeth Blackwell
went to Geneva Medical College in west NY, graduated 1849, fir…
Erie Canal (ID)
Elizabeth Blackwell (ID)
McCulloch v. MD (ID)
Adams-Onis (ID)
1825, Albany to Buffalo, allowed for increased transportation…
1849, received a medical degree from Hobart, was the first wom…
1819, Marshall court, MD attempted to impede the federal bank…
1819, between US and Spain, US gained florida in exchange for…
Erie Canal (ID)
1825, Albany to Buffalo, allowed for increased transportation…
Elizabeth Blackwell (ID)
1849, received a medical degree from Hobart, was the first wom…
The rise of the Industrial Revolution l…
The most profound economic development…
The Erie Canal revolutionized domestic…
The following pairs match inventions wi…
A rise in the standard of living for the working class, the de…
rise of the factory
transfer of goods from New York City to New Orleans along inla…
Samuel Slater and standardized muskets
The rise of the Industrial Revolution l…
A rise in the standard of living for the working class, the de…
The most profound economic development…
rise of the factory
Income
Production
Leakages
Injections
Earned by those who have contributed to the production process…
Refers to the total value of goods and services that are produ…
Income earned by economic agents that is directed away from th…
Income earned by economic agents that is directed to spending…
Income
Earned by those who have contributed to the production process…
Production
Refers to the total value of goods and services that are produ…
Northwest Ordinance
Mississippi Territory
Louisiana Purchase
Lewis and Clark Expedition
...divided the Northwest Territory into smaller territories an…
Included land west of Georgia all the way west to the Mississi…
...1803; largest land purchase; allowed US to pursue wealth wi…
...Meriwether Lewis and William Clark; looking for water route…
Northwest Ordinance
...divided the Northwest Territory into smaller territories an…
Mississippi Territory
Included land west of Georgia all the way west to the Mississi…
Economic Growth
4 stages of economic cycle
Short run economic growth
Long run economic growth
Growth in the economy in the productive potential of an econom…
1) Boom/ Peak... 2) Recession/ trough/ slump/ depression... 3) Recov…
Percentage annual increase in a country's real GDP... 1) Using up…
Expansion of an economy's productive potential
Economic Growth
Growth in the economy in the productive potential of an econom…
4 stages of economic cycle
1) Boom/ Peak... 2) Recession/ trough/ slump/ depression... 3) Recov…
Economic growth
National income
GDP
Growth rate
National income rising over time
Value of all incomes in the economy added together. Includes i…
Gross Domestic Product
The amount by which GDP increases each year
Economic growth
National income rising over time
National income
Value of all incomes in the economy added together. Includes i…
SR economic growth
LR economic growth
Determinants of SR growth
Determinants of LR growth
An increase in real GDP, based on a utilisation of unemployed…
An increase in the productive potential of the economy, throug…
Rise in AD.... Rise in AS.
Improvement in quantity or quality of the factor inputs: land,…
SR economic growth
An increase in real GDP, based on a utilisation of unemployed…
LR economic growth
An increase in the productive potential of the economy, throug…
GDP
Nominal GDP
Real GDP
Equation for real GDP
GDP is the value of all the goods and services produced in cou…
Nominal GDP is the value of all goods and services produced in…
Real GDP is nominal GDP adjusted for the changes in the price…
Real GDP= Nominal GDP/Price index * base year price index
GDP
GDP is the value of all the goods and services produced in cou…
Nominal GDP
Nominal GDP is the value of all goods and services produced in…
Economic Growth
Deflationary Gap
Positive Consequences of Economic Growth
Negative Consequences of Economic Growth
Economic growth can be illustrated by a movement from a point…
An economy operating at the point showed on the right can be e…
Sometimes economies can experience non-inflationary growth due…
Higher incomes can be caused by an increase in work capacity.…
Economic Growth
Economic growth can be illustrated by a movement from a point…
Deflationary Gap
An economy operating at the point showed on the right can be e…
Economic growth SR
Economic growth
Factors which cause economic growth
Actual growth
An increase in real GDP
An expansion in the productive potential of the economy
-Increase in AD... -Improving labour force... -Improved technology... -…
-Percentage increase in a country's real GDP... -Caused by an inc…
Economic growth SR
An increase in real GDP
Economic growth
An expansion in the productive potential of the economy
Economic Development
Economic Growth
Gross Domestic Product
Short comings of economic growth
The sustained, concerted actions of policy makers that promote…
Phenomenon of market productivity and an increase in GDP, whic…
The measurement of the market value of all final goods and ser…
Undeclared income that shows no affect on the GDP; non-taxed i…
Economic Development
The sustained, concerted actions of policy makers that promote…
Economic Growth
Phenomenon of market productivity and an increase in GDP, whic…
Nominal GDP
Real GDP
GDP (gross domestic product)
productive capacity
Is the value of all goods and services produced in a year, mea…
Is nominal GDP adjusted for the changes in the price level, du…
is the value of all goods and services produced in the country…
shows whether the country is able to increase the production o…
Nominal GDP
Is the value of all goods and services produced in a year, mea…
Real GDP
Is nominal GDP adjusted for the changes in the price level, du…
Economic growth
Measurement of E.G
Price stability
Full employment
the increase in capacity of an economy to satisfy the wants of…
GDP... Growth < 3% means unemployment will rise... Growth > 4% resul…
target rate for inflation is between 2-3%... inflation at this le…
when everyone who is wiling to work can find employment... no cyc…
Economic growth
the increase in capacity of an economy to satisfy the wants of…
Measurement of E.G
GDP... Growth < 3% means unemployment will rise... Growth > 4% resul…
Define economic growth
Equation to calculate rate of economic…
Equation to calculate % change in real…
What is the meaning of ... (+) % change in…
An increase in real real GDP, or quantity of goods and service…
change in GDP / initial GDP x 100
% change in real GDP - % change in population
real GDP is growing faster than the population... population is g…
Define economic growth
An increase in real real GDP, or quantity of goods and service…
Equation to calculate rate of economic…
change in GDP / initial GDP x 100
Capacitation
Acrosome reaction
Fusion of egg & cell membrane
Cortical reaction
Sperms surface changes to make fertilization possible
Enzymes are released from the head of the sperm, creates a pat…
The surface of egg fuses to the cell membrane, the sperm enter…
The fusion of sperm and cell membranes creates a permanent blo…
Capacitation
Sperms surface changes to make fertilization possible
Acrosome reaction
Enzymes are released from the head of the sperm, creates a pat…
Economic Growth
3 ways to define economic growth
Real income/GDP
Inflation
An increase in a countries output.
Real income, productive capacity, net social welfare
purchasing power of income generated from production
the value of money decreasing
Economic Growth
An increase in a countries output.
3 ways to define economic growth
Real income, productive capacity, net social welfare
Growth Formula
Factors of Growth - Physical Capital
Factors of Growth - Human Capital
Factors of Growth - Natural Resources
y = y1 (1 + g)^t
Tools, factories, equipment
Education, health, etc
Oil, land, minerals, etc
Growth Formula
y = y1 (1 + g)^t
Factors of Growth - Physical Capital
Tools, factories, equipment
This graph shows changes in GDP and the…
Jim lost his job in a car assembly fact…
To help encourage economic growth, a co…
The circle graph shows information abou…
2009
structurally unemployed, unemployed
invest in research and development.
Most Germans work in services.
This graph shows changes in GDP and the…
2009
Jim lost his job in a car assembly fact…
structurally unemployed, unemployed
What is actual economic growth?
What is potential economic growth?
What is export-led growth?
How can growth be caused by AS?
An increase in real GDP.
An increase in the capacity of an economy
Economic growth caused by rises in exports. (Stimulates econom…
If AS increases. (For example if production costs are lower).
What is actual economic growth?
An increase in real GDP.
What is potential economic growth?
An increase in the capacity of an economy
Macroeconomic Objectives
Price Stability and objective
Structural Unemployment
Problems with GDP as a measure of econo…
Price stability, full employment and sustainable economic grow…
Occurs when inflation rates are low. Target rate is at 2-3%.
Unemployment due to the lack of skills to meet the changing de…
GDP does not consider: 1. Effects of price changes. 2. Effects…
Macroeconomic Objectives
Price stability, full employment and sustainable economic grow…
Price Stability and objective
Occurs when inflation rates are low. Target rate is at 2-3%.
Economic growth is the increase in the…
measured by the annual % change in real…
The increase in trend or potential GDP,…
shown by a movement rather than a shift
Define economic growth
Define Short term economic growth
Define Long term economic growth
How is short-run economic growth shown on a PPF ?
Economic growth is the increase in the…
Define economic growth
measured by the annual % change in real…
Define Short term economic growth
Define Actual Economic Growth
Define Potential Economic Growth
Sources of actual economic growth
Define Net Investment
The rate of growth of real GDP in a period
Expansion of the productive capacity of the economy
Consumer expenditure... Investment ... Increase in Exports
Gross investment minus depreciation
Define Actual Economic Growth
The rate of growth of real GDP in a period
Define Potential Economic Growth
Expansion of the productive capacity of the economy