Author : Johnny Ch LOK
Publisher :
ISBN 13 : 9781709072383
Total Pages : 160 pages
Book Rating : 4.0/5 (723 download)
Book Synopsis The New Role of Economic Measurement Methods by : Johnny Ch LOK
Download or read book The New Role of Economic Measurement Methods written by Johnny Ch LOK and published by . This book was released on 2019-11-17 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic growth refers to an increase in aggregate production in an economy. Macroeconomists study economic growth with an eye toward understanding the factors that either promote or retard economic growth in order to support economic policies that will support growth, development, and rising living standards. Growth is commonly modeled as a function of physical capital, human capital, labor force, and technology. So, when economic growth is raising, then unemployment rate will decrease in possible. ⦁Business Positive or negative Cycles andthe country's macro economic environment is good and bad relationship A long term macroeconomic growth trends, the levels and rates-of-change of major macroeconomic variables such as employment and national output go through occasional fluctuations up or down, expansions and recessions, in a phenomenon known as the business cycle. ⦁ Macroeconomics vs. Microeconomics , what can influence crime rate more? Macroeconomics differs from microeconomics, which focuses on smaller factors that affect choices made by individuals and companies.Factors studied in both microeconomics and macroeconomics typically have an influence on one another. For example, the unemployment level in the economy as a whole has an effect on the supply of workers from which a company can hire. A key distinction between micro and macroeconomics is that macroeconomic aggregates can sometimes behave in ways that are very different or even the opposite of the way that analogous microeconomic variables do.Meanwhile, microeconomics looks at economic tendencies, or what can happen when individuals make certain choices. Individuals are typically classified into subgroups, such as buyers, sellers, and business owners. These actors interact with each other according to the laws of supply and demand for resources, using money and interest rates as pricing mechanisms for coordination. What factors Cause of recessions ?