Summary of Macroeconomics Lectures for MBA 1st Year‚ VGSoM‚ IIT Kharagpur Course coordinator – Dr. Barnali Nag Lecture #4 (Unemployment) 1. The natural rate of unemployment definition: the long-run average or “steady state” rate of unemployment depends on the rates of job separation and job finding 2. Frictional unemployment due to the time it takes to match workers with jobs may be increased by unemployment insurance 3. Structural unemployment results from wage rigidity: the real wage
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The phoenix (Greek: Φοίνιξ Greek pronunciation: [ˈfiniks]‚ Persian: ققنوس‚ Arabic: العنقاء أو طائر الفينيق‚ Chinese: 鳳凰 or 不死鳥‚ Hebrew:פניקס) is a mythical sacred firebird that can be found in the mythologies of the Persians‚ Greeks‚ Romans‚ Egyptians‚ Chinese‚ and (according to Sanchuniathon) Phoenicians. A phoenix is a mythical bird with a colorful plumage and a tail of gold and scarlet (or purple‚ blue‚ and green according to some legends). It has a 500 to 1000 year life-cycle‚ near the end of
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Current Events Summary ECON 220: Macroeconomics Poverty across America is continuing to increase throughout suburbs faster than anywhere else in the United States. Currently‚ there are almost 16.4 million suburban residents who reside below the poverty line. The latest Census figures available‚ in 2011‚ showed that the poverty line for a family of four was just over $23‚000 (Luhby‚ 2013‚ para. 3). The number of suburban residents below the poverty line is roughly 3 million more than those residing
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Expectations of the US economy The last three quarters of the economy have been very strong and the fourth quarter week (Payne‚ 2014). While the fourth quarter’s poor performance is disappointing from an economic stand it is normal for there to be a weak fourth quarter after three strong quarters (Payne‚ 2014). All signs show that 2015 should be a year of growth for the US economy. Unemployment is expected to decline while GDP‚ Business spending and home sales are all expected to increase steadily
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Phoenix Organics is a company that’s goal is to make a difference to the community‚ to the planet and to the health of its people. Their vision was to create something that would be good for the planet and good for the health of its people. And so in 1987 Chris Morrison‚ Roger Harris and Deborah Cairns created the first Phoenix product. The company started with a drink called "Ginger Fizz"‚ a naturally fermented product that was often determined to get out of the bottle before the top was cracked
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Eco 372 Economic Recommendations Economic Recommendations August 7‚ 2012 ECO/372 In December‚ 2007‚ an economic downturn began. A recession ensued and by September‚ 2008‚ it earned the name of the Great Recession (Yglesias‚ 2011). The unemployment rate‚ declining values in the housing market‚ increasing foreclosures‚ bankruptcies‚ the swelling federal debt‚ increasing food prices‚ and multiplying fuel prices demanded an economic response through fiscal policy and monetary policy. As a result
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Have you seen Joaquin Phoenix? I don’t think you have unless you’ve seen Walk the Line. Along with Reese Witherspoon‚ as his co-star‚ this movie is a must-see. This film‚ in my opinion‚ was one of the biggest films of 2006. It is a drama and documentary on the life of the singer Johnny Cash. The director‚ James Mangold‚ definitely let his skills shine with this picture. Joaquin Phoenix played Cash and represented him down to a tee. From the body language‚ to the singing voice‚ you have to look
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divided by the modern economists into two parts viz. Micro economics and Macro economics. This division is shown in the chart above. Micro economics and Macro economics‚ both the terms were used in 1933 by Prof. Ragnar Frisch from Oslo University of Norway. Macroeconomics (from the Greek prefix makro- meaning "large" and economics) is a branch of economics dealing with the performance‚ structure‚ behavior‚ and decision-making of an economy as a whole‚ rather than individual markets. This includes national
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way to understand wealth redistribution is with the following example: suppose your final average in this class is 90%. Other students don’t work as hard as you and earn much lower grades. Those who advocate income redistribution would say it ’s “fair” to “tax” your grade at a rate of say 30% and distribute the 27 points (90 X .30 = 27) among the other students who performance was not as good as yours. Your final grade in this class is now a “D” (90 – 27 =63) instead of an “A.” Your success is penalized
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Economics studies _____. How society manages its scarce resources social welfare ethical use of resources protection of workers’ rights 5 points Question 2 1. GDP ______ Is the Gross Domestic Price Index Measures the market value of all final goods and services produced in the U.S. in a given year Measures the cost of inputs to factories in a given year Measures the unemployment rate 5 points Question 3 1. Inflation results in _____. A general decrease in the price level An
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