Index
industries
barriers to entry
160
,
161
,
166–8
defi nitions and characteristics
159
trade and economic protection of
109–10
see also
fi rms
inequality and equality
and regulation
77
government policies reducing
201–3
see also factors impacting e.g
.
effi
ciency
‘inferior goods’
40
infl ation
features of
86–9
link with unemployment
267–8
policies to correct demand-pull
122–4
policies to cost-push
124–5
relationship of balance of payments
and
266–7
targets of
265
see also
defl ation
;
disinfl ation;
money
information
problem for microeconomic failures of
imperfect
213
information failure
in relation to goods
35
see also results of e.g
.
hazard, moral
;
selection, adverse
injections, income
250
integration
company
176
horizontal
169
,
176
vertical
176
interest, rates of
116
intergenerational equity
203
International Monetary Fund (IMF)
characteristics
258
role in aiding economic
development
260–61
interventions, government
aims and types of macroeconomic
115–18
concerning prices and output under
nationalisation and privatisation
198–9
equity vs. effi
ciency as driver for
199
failure of microeconomic
212–14
in labour market wage
determination
208–12
income vs. wealth as driver for
199–200
labour market forces and
203–8
macroeconomic to correct balance of
payments disequilibrium of
118–26
market failure as justifi cation for
68
microeconomic to correct economic
externalities
192–8
‘nudge’ theory
198
overview of methods of
microeconomic
68
policies to redistribute income and
wealth
201–3
see also
policies, government
see also specifi c interventions e.g.
controls,
price;
nationalisation
;
privatisation
;
provision, government
;
regulation
;
subsidies; taxes
investment
aggregate expenditure and
248
autonomous and induced
251–3
purpose and role in developing
economies
259–60
isoquants
151
governments
expenditure of
248–9
securities of
254
use of subsidies
44
see also
interventions, government; policies,
government
gross domestic product (GDP)
225–30
gross national income (GNI)
225–30
gross national product (GNP)
225–30
growth, economic
actual, potential and benefi ts
219–24
costs and benefi ts of
223–4
defi nition and characteristics
218
factors contributing to
222
in developing countries
222–3
see also
aid, economic
;
development,
economic
;
sustainability
see also factors impacting e.g.
income
hazard, moral
36
horizontal integration
169
,
176
hot money fl ows
96
human development index (HDI)
231
hyperinfl ation
86
imperfect competition
160
import (verb)
marginal propensity to
246
incentives
problem of undesirable for microeconomic
failures
213
income
circular fl ow of
245
classifi cation of economies according
to
234
,
237–8
determination of
249–53
multiplier and equilibrium
246–7
policies for redistribution of wealth
and
201–3
role in measuring economic
performance
224–5
role of GDP, gross national and gross
national product as measures of
225
see also
determination, income
see also measures of e.g.
gross domestic
product; gross national income; gross
national product
income eff ect
defi nition
147
of price changes
148
on consumer choice
148–9
use of indiff erence curves in
deciding
148
income elasticity of demand (YED)
48
,
51–2
income tax
70
,
73
,
82
,
115
,
117
,
121
,
123
,
124
,
201
,
202
,
205
,
206
,
213
,
244
,
269
increasing returns to scale
156
indebtedness
classifi cation of economies according to
external
234
impact of external on economic
development
260
national
229–30
index, consumer price
86
indirect taxes
defi nition and characteristics
71–2
government intervention to correct
externalities
193
defi nition and characteristics
134
negative consumption externalities
194–6
negative production externalities
as
192–4
fi rms
challenge of principal agent problem
182
comparison of performance
186–7
defi nition and characteristics
151
,
159
growth of
174–6
integration in relation to
176
objectives of
178–82
revenue relationships
158
survival of small vs. large
173–4
see also
industries
see also activities e.g.
prices and pricing
see also roles e.g.
production
see also particular structures e.g
.
cartels
;
monopolies
;
oligopolies
fi scal drag
88
,
89
fi scal policies
aims and types of macroeconomic
115–16
to correct balance of payments
disequilibrium
120
see also factors infl uencing e.g.
defl ation
;
infl ation
fi sher equation
253
fi xed costs
152
fi xed exchange rates
96–7
fl oating exchange rates
95
fl oats, managed
97–8
fl ows
circular fl ow of income
245
total currency
255
hot money
96
forecasts
types and way made
8
foreign direct investment (FDI)
purpose and role in developing
economies
259–60
frameworks, legal
role in aiding economic
development
261
free trade
benefi ts of
104–5
areas of
105
frictional unemployment
242
full employment
241
‘fundamental economic problem’
13
game theory
challenges of application to pricing
182
role in understanding oligopolistic
behaviour
183–4
gaps
infl ationary and defl ationary
250–51
output gaps
221–2
Gini coeffi
cient
200
globalisation
and structure of production
149–50
goods
classifi cations of
33–4
demerit and merit goods
35–6
inferior goods
40
normal goods
41
notion of exchange in production of
19
substitute goods
41
see also
demand
;
services; supply
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