Describe the macroeconomic variables, Macroeconomics

Assignment Help:

Q. Describe the macroeconomic variables?

In this section we have summarizes all the macroeconomic variables. The first column denotes the symbol we use for variable whereas column 2 shows the name of variable.

Variable

Variable name          

Real GDP

Price level

P.Y

Nominal GDP

U

Unemployment

L

Hours worked

K

Amount of capital

W

Nominal wage

W/P

Real wage

M

Money supply (nominal)

R

Nominal interest rate

r

Real interest rate

C

Private consumption (real)

I

Investments (real)

G

Government expenditure (real)

NT

Net tax (real)

X

Exports (real)

Im

Imports (real)

NX

Net exports (real)

SH

Household savings (real)

SG

Government savings (real)

SR

Rest of the world savings (real)

p

Inflation

pe

expected inflation

pw

Wage inflation

pM

Growth in money supply

E

Exchange rate

pE

Depreciation in exchange rate

Two of the variables are stock variables: K and M. Prices can't be characterized as a stock or flow variable. P, W, R, r and E apply at a given point in time whereas p, pe, pw and pE apply over a period of time. p, pw and pE are changes in P, W and E during previous time period while pe is the expected change in P during next time period. All the other variables are flow variables measured in some unit per unit of time (for instance, L is the number of hours worked per year or per any other unit of time).


Related Discussions:- Describe the macroeconomic variables

Economic-social-cultural and political-legal factors, For each of the host ...

For each of the host countries you have selected for examination (PEST-C analysis), conduct a preliminary assessment of the geographic, economic, social-cultural, and political-leg

Explain the problem with IS-LM model, Q. Explain the problem with IS-LM mod...

Q. Explain the problem with IS-LM model? The starting point of AS-AD model is an assumption in IS-LM model (and in the cross model) that limits its usefulness. This is an assum

Determine elasticity of demand , Consider the consumption decisions of R.B....

Consider the consumption decisions of R.B. Turbo, a new student at T University. Ms. Turbo has only available $1,000 in monthly income to spend on food and housing. In te

Causes and consequences of inflation for an economy, Question 1: Discus...

Question 1: Discuss why living standards are higher in some countries than others. Question 2: (a) How is inflation measured? (b) What are the causes and consequence

Define the multiplier and rate of inflation, 1 (a) List two concerns with i...

1 (a) List two concerns with inflation. (b) Suppose that we are in a condition of fully flexible prices, but production of nails will not go above 200 chairs/month. What price w

Overall effect of a change in real wages, Q. Overall effect of a change in ...

Q. Overall effect of a change in real wages? The supply of labor The supply of labour L S is assumed to be positively related to the real wage W/P

Supply, what happens when there is changes in the quantity supply?

what happens when there is changes in the quantity supply?

Production possibilities, you and your neighbor (n) consume without trading...

you and your neighbor (n) consume without trading. suppose you are initially consuming 7 bananas and 3 coconuts and your neighbor is initially consuming 6 bananas and8 coconuts. Yo

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd