Economic Growth Economic growth is the increase in the amount of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product‚ or real GDP. Growth is usually calculated in real terms‚ i.e. inflation-adjusted terms‚ in order to obviate the distorting effect of inflation on the price of the goods produced. Economic growth typically refers to growth of potential output‚ i.e.‚ production at "full employment". It
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Online Lectures | Handouts | Guess Papers | Books Economic Analysis MBA / MPA Solved Assinment No 2 Topic No 1 Helping Material Many scientists believe that we are rapidly depleting our natural resources. Assume that there are only two inputs (labour and natural resources) producing two goods (musical concerts and gasoline) with no improvement in society over time. Show what would happen to the PPF over time as natural resources are exhausts. How would invention and technological improvements modify
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Northern and Southern Colonies Differences The Northern and Southern Colonies of North America were politically‚ economically‚ and culturally very different from one another. The people of northern and southern colonies came to the new world for very different reasons and as time went on their differences would only grow. The differences between them would ultimately culminate in the American Civil War‚ which took place in the mid-nineteenth century and nearly ended destroyed‚ the country we
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April 19 of 1775 would go on to mark history as the day a nation made up of different ideas‚ cultures‚ races‚ and experiences would unionize to become a perfect union under their own control. The events that precede the shots heard around the world near Lexington and Concord would conjure up a sense of rebellion‚ tension‚ and irritability. The colonists‚ whether divided by loyalists‚ patriots‚ or neutralist‚ turn the tide and revolutionize America. Over the course of the twelve years following the
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The introduction of slavery‚ in 1619‚ allowed the settlements in North America to establish their own economy and social society. Through slavery‚ the economy of the North American settlements was able to climb rapidly as the production of crops increased. However‚ slavery had a negative impact on the social aspects of the settlements. It caused the establishment of a hierarchy and created a gap between different groups of people. The period of slavery began in 1619 when a Dutch ship brought twenty
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SOCIAL FACTORS FROM PESTLE With the social factor‚ a business can analyze the socio-economic environment of its market via elements like customer demographics‚ cultural limitations‚ lifestyle attitude‚ and education. With these‚ a business can understand how consumer needs are shaped and what brings them to the market for a purchase. This has to do with the beliefs and culture of the society you are operating in. Population trends‚ dietary considerations‚ ethics and media‚ and spend habits are some
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ECONOMIC GROWTH is the long term expansion of a country’s productive potential Short term growth is measured by the annual % change in real national output – this is mainly driven by the level of aggregate demand (C+I+G+X-M) but is also affected by shifts in SRAS Long term growth is shown by the increase in trend or potential GDP and this is illustrated by an outward shift in a country’s long run aggregate supply curve (LRAS) Key drivers of growth There have been numerous research studies in
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of a social crisis. The economic growth was not able to keep up with the population growth that was taking place. So many thought the move to the colonies‚ to Virginia‚ would bring about a better way of life‚ and that farming
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Demand side factors 1.Monetary policy The central bank tries to maintain price stability through controlling the level of money supply. Thus‚ monetary policy plays a stabilizing role in influencing economic growth through a number of channels. The contribution that monetary policy makes to sustainable growth is the maintenance of price stability. Since sustained increase in price levels is adjudged substantially to be a monetary phenomenon‚ monetary policy uses its tools to effectively check
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From 1630 to about 1643 Puritans were coming to America for mainly religious reasons. This movement was called the Great Puritan Migration. The Puritans did like the way the Anglican Church was being ran‚ so they many of them came to America and set up the Massachusetts Bay colony. The leader of this Colony was John Winthrop. The Puritans believed through religion and hard work they could build a perfect commuity. The Puritans influenced the political‚ economic‚ and social development of the New
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