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Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena. Research is conducted using a combination of historical methods, statistical methods and the application of economic theory to historical situations and institutions.
GDP Deflator Equation & Explanation [ edit ] Another concern with measuring a country's economic growth is that even though we see the GDP growing, that does not inherently mean the economy is growing.
Ruangguru (a play of the phrase ruang guru, literally "teachers' office") was founded in April 2014 by Adamas Belva Syah Devara and Muhammad Iman Usman to aid students to find various tutors online. [4] [5] As of August of the same year, there were more than one thousand teachers registered. Ruangguru was also funded by East Ventures. [5]
The merchant is not a source of wealth, however. The Physiocrats believed that “neither industry nor commerce generates wealth.” [2] A “plausible explanation is that the Physiocrats developed their theory in light of the actual situation of the French economy…” [2] France was an absolute monarchy with the land owners constituting 6-8% of the population and owning 50% of the land.
A macroeconomic model is an analytical tool designed to describe the operation of the problems of economy of a country or a region. These models are usually designed to examine the comparative statics and dynamics of aggregate quantities such as the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the level of prices.
An economic expansion is an upturn in the level of economic activity and of the goods and services available. It is a finite period of growth, often measured by a rise in real GDP, that marks a reversal from a previous period, for example, while recovering from a recession.
Legal text ASEAN: ASEAN Trade in Goods Agreement: ATIGA 28 January 1992 1 January 1993 Australia: Indonesia–Australia Comprehensive Economic Partnership Agreement: IACEPA 26 December 2012 4 March 2019 5 July 2020 Chile: Indonesia–Chile Comprehensive Economic Partnership Agreement: ICCEPA May 2014 14 December 2017 8 October 2019 EFTA
The resulting endogenous growth theory, most notably advanced by Robert Lucas, Jr. and his student Paul Romer, includes a mathematical explanation of technological advancement. [ 15 ] [ 99 ] This model was notable for its incorporation of human capital , which is interpreted from changes to investment patterns in education, training, and ...