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Can you discuss how the nominal and real values of things affect the aggregate behavior of a society. Give an example.?
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How does the nominal and real values of things affect the aggregate behavior of a society?
In economics, the nominal values of something are its money values in different years
Why does aggregate demand go up when money supply increases?
It doesn't. Money supply has no effect on aggregate demand. Aggregate demand is only effected by the buying power of money, real interest rate, and the real prices of exports and imports. If the supply of money goes up it only causes a short term decrease in the nominal interest rate. The price level is not accompanied by a decrease in the supply of money so the real interest rate does not rise.
Define the concept monetary transmission mechanism?
The monetary transmission mechanism describes how policy-induced changes in the nominal money stock or the short-term nominal interest rate impact real variables such as aggregate output and employment. ~Peter N. Ireland Federal Reserve Bank of Boston http://www.bos.frb.org/economic/wp/wp2006/wp0601.htm
What are the difference real income and nominal income?
The nominal income is refer to the actual amount which a person received in perticular time of period may be in month or weekly which doest not have the effet of inflation and which is fixed in any curcumtances , for e g if there is raise in the prise of the commodities it leads the prise to the inflation but there will be no effect on the Nominal income holder as it is fixed,however in the Real income scenario the inflation amount will effect the real income as it is to be deducted from the Bominal income.hence Real income = Nominal income - inflation , Therefore we can say that real Income is the good measure to know the actual purchasing power of the economy and good aggregate to calculate the National Income
Advantages and disadvantages of nominal scale?
The advantage of using a nominal scale is that it can help with classification. The disadvantage of using a nominal scale is that it is the most primitive system.
How does the nominal and real values of things affect the aggregate behavior of a society?
In economics, the nominal values of something are its money values in different years
What mean by nominal size of aggregate?
Nominal size is the size of the largest aggregate in a grading.
What are nominal values?
Nominal values are the values that a component is specified to be. For example, the nominal value of a 10K resistor is 10K. Its actual value may vary, though, based on its tolerance.
What is nominal line voltage?
'Nominal' means 'named'. So a 'nominal' voltage is the named voltage of a system. For example, when we talk about a 120-V or 240-V system, we are describing their nominal values, not their actual values which can change from moment to moment.
What Jersey numbers of soccer players is an example of a variable?
nominal
What is a post-nominal. Give examples of post-nominal letters?
A post-nominal is the short form of qualification after your name. An example might be PhD or CPA. In the US they often begin with the letter "C" meaning certified.
What are examples of nominal levels of measurement?
Nominal numbers are always discrete.An example would be personality types. You can't have a half or a fourth of a defined personality.
What is meant by a nominal current?
The word nominal means the lowest possible safe amount. So, nominal current or nominal voltage is the lowest amount necessary to perform an electrical function like keeping a light turned on.AnswerThe original answer is incorrect. 'Nominal' simply means 'named'. So a 'nominal voltage' is the 'named voltage', as opposed to an 'actual voltage'. For example, the nominal voltage of residential supplies in the UK is 230 V; however, this value is allowed to vary between +10/-6% of the nominal voltage. In other words, a nominal voltage of 230 V may vary between 216 V and 253 V.
What is an example of a nominal-is-best quality characteristic?
time required to complete a project
Is assessing a given population's educational level an example of nominal data?
yes it is
Why does aggregate demand go up when money supply increases?
It doesn't. Money supply has no effect on aggregate demand. Aggregate demand is only effected by the buying power of money, real interest rate, and the real prices of exports and imports. If the supply of money goes up it only causes a short term decrease in the nominal interest rate. The price level is not accompanied by a decrease in the supply of money so the real interest rate does not rise.
What is nominal mix design?
Nominal mixes are those proportioned by the volume of the main ingredients and usually written in order of the ingredients thus Cement:Sand: Coarse aggregate (stone, chippings). So a 1:3:6 is a nominal mix containing 1 volume of cement, 3 volumes of sand and 6 volumes of coarse aggregate. Gauge boxes are generally used to batch the ingredients. The problem with these types of mixes is that the quality of the concrete is entirely dependant on the quality of the materials. In other words, if you use the same gauge boxes to weigh ingredients from different sources, you will most likely have different concrete qualities. Designed mixes on the other hand are specified as a grade the producer of the concrete has to achieve usually in terms of compressive strength but may include other criteria (size of the stone, minimum amount of cement, flexural strength, air content etc). So a grade 30 concrete will be the same whether batched in Kansas City, Karachi, Kingston-Upon-Hull or Kinshasa
