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Professor Nick,
I would kindly disagree with you. I guess nowadays people work the amount they are offered to work, so it doesn't make a difference.
But maybe it's just my naivety.
Thank you for your response
If you have time, please read my (still enfant economics blog)
Ricardo
Commented Mar 2, 2016 on Does saving count towards GDP? at Worthwhile Canadian Initiative
Does saving count towards GDP?
Here's a fun one. (OK, I think it's fun, anyway.) Especially for those who teach macro. A first year student emails me. Paraphrasing, he asks "For a closed economy, we know that national saving equals national investment, and investing in newly-produced goods counts towards GDP. And "saving" mea...
Professor Nick,
If Government increases G it will not necessarily crowd out "other demand components" (but it may), but if it increases Taxes those will have to come from C and/or S, isn't that right?
So you can say that an increase in G may increase Y, but an increase in T won't.
Am I wrong?
Thank you
Ricardo Martins (losinterest.wordpress.com)
Commented Mar 2, 2016 on Does saving count towards GDP? at Worthwhile Canadian Initiative
Does saving count towards GDP?
Here's a fun one. (OK, I think it's fun, anyway.) Especially for those who teach macro. A first year student emails me. Paraphrasing, he asks "For a closed economy, we know that national saving equals national investment, and investing in newly-produced goods counts towards GDP. And "saving" mea...
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