Long run aggregate supply is determined by factors that affect an economy's potential output over the long run, including: labor supply and quality, capital investment, productivity, technology advances, and institutions. An outward shift of the LRAS curve represents an increase in potential output and real economic growth. Productivity, defined as output per hour worked, is the main driver of the UK's potential output growth in the long run according to forecasts.
Limit Pricing content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Limit Pricing
Spotting & Evaluating Limit Pricing
This is a short revision video on some of the key functions of the price mechanism including the signalling and rationing function in the allocation of scarce resources among competing uses.
Limit Pricing content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Limit Pricing
Spotting & Evaluating Limit Pricing
This is a short revision video on some of the key functions of the price mechanism including the signalling and rationing function in the allocation of scarce resources among competing uses.
Students should be able to:
Identify economies and diseconomies of scale.
Students must be able to distinguish and give examples of internal and external economies and diseconomies of scale.
Students should be able to:
Identify economies and diseconomies of scale.
Students must be able to distinguish and give examples of internal and external economies and diseconomies of scale.
This week our students have had the opportunity to be part of real-time current events. With the media circus buzzing around Kony2012, Invisible Children, and the LRA – I created a (fairly) student-friendly powerpoint that objectively explains the background of Kony and the LRA. I am not getting into the hype surrounding supporters and opponents of Invisible Children, but have included them as well as other organizations at the end of the presentation to give students options regarding how to get involved.
No matter what people feel about Invisible Children, it’s obvious that they have created a successful awareness raising campaign. My students have had a lot of questions about the whole situation, so I created this powerpoint that I am now sharing with you.
Leicester Research Archive (LRA): the work of a repository administratorGaz Johnson
Second part (of three) of a lecture delivered to post graduate library students at the University of Loughborough. Focusses on the role of the repository administrator, and the practical steps taken to populate the site. This section written and presented by Valérie Spezi.
Thank you for all video clips.
https://www.youtube.com/watch?v=HWZXinRwCaE (icbm)
https://www.youtube.com/watch?v=mE-q1IaPIUk (how missiles launch)
https://www.youtube.com/watch?v=SOXmVi3A_PI (satan R36)
https://www.youtube.com/watch?v=LvHlW1h_0XQ (LRASM)
In 1800s, Boganda had a lot of power and it was ruled by King or Kabaka. Boganda was one of the richest and most sophisticated kingdoms in Africa. Up to 1890, British Colonial rule. In 1962, Uganda gained independence from the British. In 1966, leader of the ruling party – Uganda People’s Congress, Milton Obote drafted a new Constitution for the country. In 1971, Idi Amin toppled Obote’s government. In 1986, due to the Civil War about a million people were dead and about 600,000 were injured. The economy was virtually bankrupt. People wanted a change and they supported a new party called the National Resistance Movement (NRM). NRM seized power. In 2002, Museveni became the President.
LRA Pesidential Address for 2013, Richard Beach, PresidentRichard Beach
Understanding and Creating Digital Texts through Social Practices: describes research on social practices of contextualizing, interacting, making connections, collaborating, criticizing, and constructing identities through uses of digital texts, for example, use of Diigo annotations for interacting in response to texts or online discussions on Ning for collaborative argumentation.
Presentació de Lisa Lambrica, Secretary General of ACR+ (Association for Cities and Regions for Recycling and Sustainable Resource Management) en el marc de la jornada ‘The role of ecodesign in the circular economy’ que va tenir lloc a Brusel·les el 16 de juny de 2015
Institutional Repositories: What the Open Access agenda means for a modern in...Gaz Johnson
First and third parts of a lecture delivered to 2009/10 Library post graduates at Loughborough University (March 25th 2010). Covers general open access and the response from the University of Leicester.
In these slides we discuss about Economic Growth & Business Cycle like GDP, Real GDP, Ways of measuring GDP, GNP, Aggregate Demand and Supply, Stages and Shape of Business Cycle, Growth / Expansion, Peak / Boom, Recession, Depression
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
2. • Changes in a nation’s potential GDP are brought about by:
• Changes in labour supply available for production (i.e.
more people joining the labour force)
• Changes in the stock of capital inputs – affected by the
level of gross capital investment
• Changes in the efficiency of allocation of factor inputs
e.g. shifting resources from rural to urban areas
• Improvements in the quality of factor inputs /
productivity of inputs
• Advances in the state of technology
• Improvements in institutions such as the banking system
• An outward shift of LRAS signifies an increase in long-run
potential output and employment
• A higher level of LRAS signifies real economic growth
Increasing LRAS – Lifting Productive Potential
3. Components of Trend Growth for the UK Economy
Data for 2015 and 2016 are forecasts published at time of July 2015 budget
Annual growth rate (per cent)
Potential
productivity
(output per
hour)
Potential
average
hours
Potential
employment
rate for those
aged 16+
Potential
population
growth
Overall Potential
Output for the
UK Economy
2015 1.4 0.0 0.0 0.6 2.1
2016 1.8 -0.1 -0.1 0.6 2.2
2017 2.0 -0.2 -0.1 0.6 2.3
2018 2.1 -0.2 -0.1 0.5 2.3
Trend growth is the estimated rate of growth of a nation’s productive
potential. The table shows data for the UK and finds that productivity
growth is the main driver of potential output over the long run. The
main measure of productivity used is output per person-hour.
4. Key Factors affecting Long-Run Aggregate Supply
Higher Productivity
of Labour and
Capital
I.e. a rise in output
per person
employed or
increased efficiency
of technology
Increased Labour
Market
Participation
i.e. A growing
labour supply and a
rise in the number
of people in paid
work
Gains from
Innovation and
Enterprise
These are two key
factors that
determine
competitiveness
especially in
international
markets
Capital Investment
Including capital
spending by
businesses, inward
investment from
overseas (FDI) and
the Public Sector
(Government)
5. Productivity
Productivity measures the efficiency of the production process
• In the long run, productivity is a major determinant of economic
growth and of inflation.
• A fall in labour productivity leads to a rise in firms’ (unit) costs of
production (assuming that the level of wages remains the same)
• Higher productivity allows businesses to pay higher wages and
achieve increased profits at the same time.
Factor
Inputs
(land,
labour and
capital)
Factor
Productivity
(efficiency)
Output
6. Impact of improved productivity on the UK Economy
All other things being equal, an improvement in labour
productivity is most likely to …..
Macroeconomic Objective Comment on the Effect
Inflation Lower – unit costs will be falling
Economic growth Higher – gains in aggregate supply
Unemployment Lower in long run as growth rises
Balance of trade in goods & services Improved – more competitive exports
Spare capacity in the economy Rise from extra capacity in short run
Business investment Higher – profits will have increased
Government fiscal balance
Productivity gains in government will
help to reduce state spending
7. Explaining the non-linear AS curve
• When spare capacity is high then SRAS will be elastic
• A rise in AD can be met easily by increased output
• There is little threat of rising prices (inflation)
• The elasticity of SRAS curve falls as output increases
• The amount of spare capacity declines
• Possibility of diminishing returns in production
• Bottlenecks in supply of inputs and components
• Resource shortages as the economy approaches full
employment e.g. Skilled labour becomes more scarce
• When SRAS becomes perfectly inelastic the economy is at
full capacity (equivalent to being on the PPF boundary)
• Further increases in AD at this point are purely
inflationary in the short run with little extra real output
8. Keynesian Non-Linear Aggregate Supply Curve
General
Price Level
Real GDP
AS
AD1 AD2
AD3
AD4
AD5
Non-inflationary growth
An outward shift in AD
from AD1 to AD2 can be
met without an increase
in the price level
because short run
aggregate supply is
highly elastic
GPL1
Y1Y2
9. Keynesian Non-Linear Aggregate Supply Curve
General
Price Level
Real GDP
AS
AD1 AD2
AD3
AD4
AD5
Inflationary pressures
An outward shift in AD
from AD3 to AD4 causes
a sharp rise in the
general price level
because AS is inelastic
(i.e. output is close to
full-capacity levels)
GPL4
Y3 Y4
GPL5
10. Keynesian Non-Linear Aggregate Supply Curve
General
Price Level
Real GDP
AS
AD
When the AS curve become vertical,
the economy has reached full-
employment of factor resources.
Full employment is defined as a
state of the labour market in which
everyone who is willing and able to
work at the current wage rate is in
employment, excluding those who
are frictionally unemployed
YFE
GPL
11. Keynesian AS Curve and Negative Output Gap
General
Price Level
Real GDP
AS
AD
YFE is full employment and at Y1, the economy
is operating below full employment so it is
experiencing a negative output gap
YFE
GPL
AD1
Y1
