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Macro & Microeconomics Essay

Analysis of the Business Cycle
As we can see a rising trend in GDP growth it shows that the whole economy is in function and there is an increase in aggregate demand which in turn increases the inflation by demand pull and cost push. At this stage a competitive monopolistic firm must increase its sales as there is a huge amount of money facing a little amount of goods. An increase in sales can occur when the GDP growth rate is increasing along with the inflation rate. But when there is a negative trend of gross domestic
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Asian Tigers
The other factor that boosts their trade was greater openness which is conducive to growth and thus they embrace the policies that promote openness. They also used non-tariff and high tariff barriers to promote industrialization.Between 1965 and 1993, real gap in the East Asian economies grew at an annual average rate of nearly 9 percent more than twice as first as their Latin American counterparts. They all had common characteristics which include focusing on exporting to rich and
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Discuss the major barriers to entry of new firms into an industry and how these barriers can either give rise to or maintain a monopoly company
They provide firms a degree of market power without losing their existing market share. Barrier to entry anything that allows incumbent firms to earn supernormal profits without threat of entry (Boyes and Melvin, 220-222). The barriers that can be used to create or maintain a monopoly include:The high fixed cost or setup cost can be the toughest obstacle to tackle. The barrier here is access to capital. Only large firm will be able to fund the necessary investment. An established monopoly is
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Mini essay
Income inequality is a prime economic indicator and is also covered by the national average.Change in population structure – the change in the structure of population is one of the main contributors to income inequality. With the increase in the non- income generating population there is less income in the hands of the dependent population which widens the economic inequality. The women and the aboriginal Canadians have a very small representation in the Canadian work force. The women
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An issue considered in the presentations or books
As workers dedicate more hours for labor, their earnings as well as their real wage rate goes up. Subsequently, the demand for ‘normal good’ leisure increases as the workers incomes rises. It means that workers will supply less labor in order to spend more hours on their ‘normal good’ leisure activities. They will develop the tendency of spending because of their higher income and they will dedicate more time (hours) on leisure activities. This tendency is called the ‘income effect’
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Demonstrate the impact of an increasing GDP. Is it possible that people could be worse off despite an increasing GDP If so, show this in economic terms
As such, the ‘C’ above depicts the overall consumption of a country. It is prudent to note that a person consuming luxury products is not an indication of the level of consumption for the entire population. Some people will have a higher marginal propensity to save (MPS) as compared to the marginal propensity to consume (MPC). According to the equation, , individuals with a higher MPS will have a lower MPC, ceteris paribus (Martins, 100). As such, the propensity to save is inversely
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Analyse three types of economic systems illustrating the problems and advantages associated with them
In most cases, barter trade is used. Such economies have a characteristic of being able to meet the daily needs, but they show little economic progression. An Economic decision must follow the tradition of the community practicing this form of economic system.In this form of economy, distribution of resources is open since it follows customs and traditions that are known by all the people. Production of goods and services is easy since each and everyone understands the role they have to play in
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Explain the concept of the public and private sectors of the economy, using examples
Self-reliance may be achieved since the sector supports domestic industries which may develop eliminate need for foreign goods. Development of strategic and heavy industries like defense which is prohibited in private sectors.Political interference especially by politicians prevents effective and smooth functioning of public sector. There is slow rate of growth in public enterprises as result of limited scope for modernization and expansion. Inefficiency in operation of public sectors as they
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Risk analysis project
This rescue, despite saving the interest of mortgage owners in the future will also increase the public debt. In these two companies, profits have seemingly been privatized while risks have been socialized.Cost of borrowing for the two companies should decline owing to the government’s intervention where it stands behind their debts. Loan buying and selling will as well continue now that the government is backing the companies. Fannie and Freddie company’s downfall that led to the
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Expert's choice in given field
Friedman argued that consumption depends on permanent income and introduced an aspect of present value of income (Modigliani, 1990).Deussenberry argued that consumption depends on relative income. Keynes theory was adopted since the study was aimed at the relationship between saving and the current disposable income. Saving is defined as the conservation of money. It includes money set aside in a bank or pension plan as well as the reducing of expenditures.In economics, personal saving is
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In the year 2100, will the global economy more closely resemble (1) the Bretton Woods compromise, (2) the Golden Straitjacket, or (3) global federalism Why You must choose one and justify your choice based on material from this course
Maybe not but before you can criticize me, listen to the ordeal that I have to tell and on my side, I would go with the golden straitjacket policy to be a key strategy in the world of globalization by the year 2100.Trade has formed a crucial sector in country collaboration since it is an epitome of revenue required for development among the various states. The golden straitjacket views countries to have attributes of attracting an international market. The rate of exchange between and among
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Economic Growth - Solow Growth Model and Beyond
Solow’s model fitted the economic growth data that was available with some level of success. In the present day, his model is used by economists in the estimation of the separate effects on the economic growth of capital, labor as well as the technological change. The previous models that include the closed economy and small open economy models give a static observation of the economy at a given point in time. The Solow growth model allows us a dynamic view of how savings affects the economy
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Beverage global industry
The bottling companies are expected to work with the local vendors to ensure the local strategies adopted by the mother company are executed.The portfolio of the company currently stands at 17 billion dollar including Fanta, Coca Cola Zero, Sprite, Powerade, Diet Coke, Del Vale, and Minute Maid among others. Consumers in more than 210 countries the company serves an average of 1.9 billion customers in day.Statistics show that in 2010, the company was the first to be the brand top £1 billion in
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Coles and Woolworth competition
There is no doubt that Coles and Woolworth dominate Australia’s supermarket industry and wield considerable market power leading to low competition and sometimes anticompetitive behavior. What is of concern is whether these two supermarkets abuse their market power especially after a lot of complaints by small retailers and producers to the Australian Competition and Consumer Commission (ACCC). What is interesting is that even though the market is concentrated which in normal circumstances
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Evaluate the policies that could be used in your chosen country to meet inflation targets
A current inflation rate is calculated to two decimal places (Granville, 2008). The report indicates that there was a fall in fuel and food prices since 1989. Inflation has declined to zero for the first time in Britain. The consumer price index (CPI) has recently dropped by 0.3 percent, bringing Britain to the edge of the spell of deflation expected in the future (McMahon, 2007).Economist had predicted a slight drop to 0.1 percent, but a profound oil price fall and brutal price wars fought by
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SUPPLY AND DEMAND
With their milk; such milk will be sold at very high prices (because of scarcity of the product and other costs such as transport) (Sloman & Sutcliffe, 2003). Their product will be on high demand thus raising the need for higher supplies of the foreign brand. There will equally be increased demand and supply for milk substitutes such as almond milk which will also portend higher prices for the substitute commodities.Almond milk is a common cow (dairy) milk substitute obtained from almond. If
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Why people hold onto money
The t-test for the above model is 4. The t-test indicates that the null hypothesis should be upheld. It is denoted by:The explained sum of squares represents the total sum of squares of deviation from mean value, of various predicted values. In this regard, high values of the sum of squares indicate reliability of the model used for statistical analysis. It is denoted by:The demand for money is based on the function of money, which include medium of exchange and store of value. This implies
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National Income Accounting and the Balance of Payments
Value is added at each of the intermediate stages, And at the final stage, the manufactured goods is given a retail selling price. The product’s retail price imitates the value added in relation to all the resources used in all the preceding stages of production.  In simple terms, the national income is the value of the entire final output of services and goods created in a single year (Adekola & Bruno, 68). For instance, considering the production of a motor vehicle whose retail price is
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Final exam
On United States and Europe and it mainly entailed forming the basics for compulsory governmental-run or voluntary subsidized programs on healthcare. This was in the 1900s to the 1920s. From the time, there have been initiations that focused on the campaign on by elites more concerned with caring against attacks from awareness groups than with current deployment, and common improvers in the labor, civil rights, activist, and also from AIDS activist activities have focused more on instant and
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Research paper
12 percent less incidence were recorded in overall Mexico (Public Health in Mexico – January Program, 2015). It was recorded that working adults in Mexico ranging from the age of 18 to 50, faced less incidence of difficulty from their daily work activities, as they had the access to the healthcare services whenever they wanted. The beneficiaries who were above the age of 50 reported that they faced 19 percent less difficulty while performing their daily activities and they also spend fewer
Pages: 7 (1750 words), Essay
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