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19:18 Jan 10, 2016 |
English language (monolingual) [PRO] Bus/Financial - Economics / Macroeconomics | |||||||
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SUMMARY OF ALL EXPLANATIONS PROVIDED | ||||
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4 +2 | A stock variable is measured at 1 specific time, & represents a quantity existing at that pt in time |
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A stock variable is measured at 1 specific time, & represents a quantity existing at that pt in time Explanation: A stock variable is measured at one specific time, and represents a quantity existing at that point in time (say, December 31, 2004), which may have accumulated in the past. https://en.wikipedia.org/wiki/Stock_and_flow -------------------------------------------------- Note added at 25 mins (2016-01-10 19:44:15 GMT) -------------------------------------------------- For example, U.S. nominal gross domestic product refers to a total number of dollars spent over a time period, such as a year. Therefore it is a flow variable, and has units of dollars/year. In contrast, the U.S. nominal capital stock is the total value, in dollars, of equipment, buildings, inventories, and other real assets in the U.S. economy, and has units of dollars. The diagram provides an intuitive illustration of how the stock of capital currently available is increased by the flow of new investment and depleted by the flow of depreciation. -------------------------------------------------- Note added at 29 mins (2016-01-10 19:47:47 GMT) -------------------------------------------------- http://www.economicsdiscussion.net/difference-between/differ... http://hspm.sph.sc.edu/courses/econ/classes/Stocksandflows/S... -------------------------------------------------- Note added at 29 mins (2016-01-10 19:48:36 GMT) -------------------------------------------------- Goods and services flow around any economy. "Flow" means that goods and services move from one person to another. In a hunter-gatherer economy, the flow may be done according to custom. In a market economy, the flow may be determined by the buy-sell deals people make. In any society, people are always doing things for each other and giving things to each other. This is the flow of goods and services. Stocks are also important to economic activity. Stocks do not flow. Rather, they build up or get depleted. Capital is a stock, not a flow. Capital = things people make to help them make other things. Capital builds up ("accumulates") or depletes ("depreciates"). |
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