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An instance shifting the supply curve to the left of owner-occupied housing can arise from the scenario as people who own houses have taken loans for various purposes from banks. The recession hit, causing a loss of jobs. Therefore, lending institutions can claim the personal property of defaulters to recover the amount of the loan.
where the slope of the indifference curve equals the slope of the budget constraint. At this point, the consumer obtains the best combination of the two goods that gives him/her the maximum utility of the given budget constraint.
(c) If the
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This move was supplemented by the announcement of the increase in pay. This attracted numerous potential employees this provided him with a variety of talents to choose from.
The company
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Regional imbalances have been reported amongst different countries.
Many policy makers in the respective countries are thus, disturbed by an urgent need to establish and implement working models upon which income
This occurs due to some reasons namely;
2. What institutions promote economic growth in any country? Why some countries are economic miracles and others--economic disasters? (North Korea and South Korea) What is productivity (define) and what
This paper has explored the influence of the FIFA World Cup on the economic plus of the host country with a myriad of arguments. FIFA, a mega sporting experience, is no doubt one of the greatest contributors to the hosting country’s economy. This is because it comes with its unlimited subsidies characterized by overconsumption.
Therefore, the expected policy in reflection to the Australian dollar will factor in the established guidelines and policies to ensure it maintains stability of the dollar while facilitating a continuous and stable growth for the consumer and producer. The Reserve
The term ‘efficiency’ and its numerous derivatives are among the most widely used words in contemporary vocabulary and are applied to various spheres of our life. In economics, the notion of efficiency is equally very important. it is essential to remember that as in other spheres of our life efficiency in its economic application is also a relative term.
All oil purchases are carried out in U.S. dollars and this proves the deep relationship between oil and dollar that is, oil prices rise when the dollar falls. The financial crisis in the U.S., market speculation (Jeffords 1) and continuous flow of funds in the market by the Federal Reserve lead toward upward surges in the oil prices.
Some attempt is made to focus on various topic of interest to the reader. In this paper, I will summarize the article and provide some details about my view on various aspects found in this article. I will also put my attention on the research carried out, and provide an
The marginal efficiency collapse of capital is a confusing term. Its cure was described by him as continued low interest rates, but to implement it would lead to consistent inflation. His suggestion would lead to a constant chase between the money supply and trade unions and would not direct to long term employment plan.
The video brings into light one of the major limitations of a state controlled economy. The supporters of state controlled economies argued that it helps promote equitable development throughout the country. Initially, this approach worked for many countries.
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To guarantee a balance of payment (BOP), bureaucratic oversight and active intervention was required (Atack & Peter 28). Colonies had to provide alternative domestic sources of supply of goods and services to fit in the mercantilist model. Apparently, the rapid economic
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More than that, it is remarkable that China has come away from the command economy and has successfully adopted a functioning market economy that has manifested a transitioned economic building upon its markets and
The article has listed these five cases as Texas power ball, science news, Texas lottery, discovery education website, and Oregon state website. As a result, the article emphasized the importance of being both disseminate and meticulous with information together with knowledge as the key to a successful understanding of the two terminologies.
Rationality denotes a particular behavior within an individual that is particularly needed for achieving a goal despite the presence of conditions and binding constraints (Hatchuel, 2001). However, the theories of rationality may be normative or it can be descriptive depending on the concept related to rationality.
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This essay provides a critical review of the two concepts, by first explaining the difference existing between the theories; then using this as rationality for verifying economist classification of objective and subjective theory.
Labor theory of value states
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A major ethical issue that may arise out of the research design is related to the semi-structured interviews. Often, managers may leak some classified information that can be misused. The author will make sure that such a situation does not arise. In case a manager says something that may be used against him, the author will maintain complete confidentiality of the responses of the interviews.
Stuart Staniford, a famous writer of Early Warning, has been studying recent tendencies in oil usage. He explores that well developed and the nations that export oil seem to be having a strong balance of trade basis alternatives whereupon they can keep on raising their own oil usage rather depending on other countries. It means that some countries have the tendency to cover their oil demands and they should look forward to those ways.
Today, no one on this planet is safe from the direct or indirect consequences of globalization. Consider the following scenarios. Bavarian Motor Works (BMW), a German automobile manufacturer found itself hurt by the Mumbai terrorist attacks of 2009 because it has a production plant in Calcutta that had to be shut down.
Therefore, investment in the public transportation sector has a significant impact on the US economy; it is one of the industries that cannot be ignored in contributing to economic growth, increase in employment opportunities and direct or indirect income to thousands of individuals. It is therefore an important sector in the US economy.
The article "Feeling Parched" highlights the consequences of drought in the production of corn, and the subsequent economic effects posed that occurrence in the State of Lowa
Having been born in Korea, I was initially immersed in endeavors that delve in complying with my duty for military service after graduating from high school. After this, I have been studying at Irvine Valley College since last fall. When I was taking an economics class at community college, I started to have an interest in the subject of economics.
Price gouging happens when there is a sudden spike of demand where the supply remains the same or diminished. When the demand for a particular good such as generators spikes up after natural disasters such as hurricanes, its price will naturally go up because virtually all people would need a generator in the area that lost power due to the hurricane.
The economy was experiencing growth of 7.5 percent in 2010, which appealed for positive headlines all over the media and this was the time that Ms. Rousseff was initially elected. This comes as no surprise as the candidates that are in the opposition are taking advantage of the situation making the coming elections the most hotly contested.
As a result, MySuper was established. MySuper is an innovative cost-effective superannuation product that replaces the existing default products being applied by the employers (Federal Government, 2011). Based on its wide range of
The supermarket group ‘Dodo’ is concerned as their stores have been recording falling profits in London for two consecutive years. This paper seeks to analyze and identify the factors, both positive and negative factors, affecting the store profits. According to the analysis below, the dependent variable is Profit.
In the case of a price floor, several sellers are unable to sell all they desire at the market price. The sellers who appeal to the personal biases of the buyers, maybe due to racial or familial ties, are better able to sell the products than those who do not. By contrast, in a free market, the price serves as the rationing mechanism, and sellers can sell all they want at the equilibrium price.
During the past ten years, monetary policy has been widely used by the U.S. and UK in order to achieve constant economic growth despite the external factors that affect these countries’ economic activity. The current major external factor that affects the activity of the U.S. and UK is the long-term effects of the Asian crisis and globalization.
y stages of movie development cannot be said to be a local affair but rather an international one, especially if the movie aims at targeting an international audience. With this basic knowledge in mind an economic analysis of a movie can be carried out in order to establish
Nowadays, we can use internet by going online to find all the information we want. We can purchase products such as clothes, foods, medicine, cosmetic products and many others through online. It is also possible to know what is happening in the
In assessing whether stocks have higher risks when compared to stocks, it is possible to arrive in justifiable explanations based on a comparative analysis. In this regard, an assessment can best be viewed when analyzing portfolios that are engaged in 100% bonds versus portfolios that are 100% stocks
A higher number shows more unequal distribution of income. According to (Cribb, 2013 ) the rise in the level of income inequality in industrialized nations lead by the host of English speaking nations such as the
Today sports is an important industry, which provides employment to different people (sportsmen and those who are not engaged in sports directly), brings revenues to sports companies and organizations, pays taxes and makes other payments to countries' budgets, and thus plays important role in countries' economic growth.
The four tigers adopted a modern neo-Confucian economic system that integrated their culture into the industry, packaged it quite well, and made milestones of the economic states contrary to the ASEAN 4 (Hirst 2002). The ASEAN four did not convert their cultural disparities into an economic value affair as the 4 tigers did to achieve economic growth.
This research analyzes that F-test is significant indicating that the observed R-squared is reliable, and is not a spurious result of oddities. It shows that the proposed relationship between the response variable and the set of predictors is statistically reliable, and can be useful when the research objective is either prediction or explanation.
The author states that decision-making under uncertainty that is the case of imperfect information is always the case because of the inability to find perfect information in for decision-making. The ability to access perfect information for making decisions is impossible owing to the impediments of costs and other factors.
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The country should put in more efforts to complete its science and technological reforms and come up with a system based on true achievements, which rewards scientific excellence. According to the article “The Chinese Century” by Joseph E. Stiglitz, China overtook the US as the largest economy of the world.
This paper will talk on different challenges the electric utilities face. The electric utility industry faces challenges from increase in spread generation, the change toward energy
Presently, mobile phone coverage stands at about 60% of the total population. Although the data available shows a tremendous growth in mobile phone usage, a clearer means of collecting more accurate data needs to be considered. This is because of the phone-sharing nature and the fact that an individual may have more than one SIM card.
The expansion in China in the service industry is one of the best economies internationally (Frankel &Wei, 2007). The state of China has not abandoned the manufacturing sector it has instead struggled in the transformation of the sector into greater levels through the creation and enhancement of the chains and the attributed value.
At times, the government and the market are in opposition, instead of complementing each other, and the result is often increased failures. In the case of welfare reforms, government failure results from the belief that they are doing the right thing. These misguided conceptions have a multiplier effect on other sectors of the economy.
This essay discusses that the government use tariffs to enable it get revenue and fund its projects. Tariffs also allow the government to control and limit harmful and outdated goods from entering the country. They also minimize competition and allow local producers to grow. However, tariffs can be disadvantageous since they can discourage specialization and production.
Since I started studying the subject of economics in college, I have developed a lot of interest in the subject. Economics is very interesting since it consists of numerous topics, which cover diverse fields. For example, economics cover the practical and
The demand for a market, on the other hand, is determined by factors such as fashions and trends, affordability and the availability of substitute and complement goods. Emerging markets are usually international markets that set their grounds in a foreign setting and try to create a demand for their goods.
It is important to state that the purpose of the paper had been to distinguish between two theories of profit viz., frictional and innovative profits. While the former forms of profits arising out of market disequilibrium, the latter occurs due to a firm’s capabilities of making successful innovations.
The economic impacts have been better in the case of US as well as other developed economies, especially after the recent recession, which forced many otherwise homemakers to pursue employment, and thus utilizing their unharnessed talents for economic gains; while creating a healthy competition in the job market.