Imagine that you are considering moving to a new country and looking for a job there, but you first want to make sure the country has a strong economy. Describe at least three economic factors that you would want to research as evidence of the economy's strength or weakness, and explain how each factor would affect your decision to move there. (4-6 sentences. 3.0 points) I would want to research the counrtys GDP how there bussniesses are and what there unenmployment rate is. 6.
Purchasing Power Parity (PPP) is also not taken into account with income per capita; this means that the cost of living in each country is not accounted for so development may appear better in some countries than it actually is. Income per capita can be used to measure the economic and social development, but not any of the other factors of development, such as environmental development. Development can be further measured by income inequality. This can be a useful measurement as it shows the differences between the rich and poor. The greater the inequality, gap between the rich and poor, the worse developed the country is.
A) Should companies pay for employees' health insurance? B) Why do some countries have higher economic growth rates than other countries? C) Should Congress and the president take action to reduce the unemployment rate? D) Should the Fed attempt to influence the interest rate to control potential inflation? 4) Which of the following is a microeconomic question?
While the invisible hand cannot guarantee efficiency, it is better at guaranteeing equity. ANSWER: F TYPE: T KEY1: D SECTION: 2 OBJECTIVE: 7 RANDOM: Y [cxx]. The two broad reasons for a government to intervene in the economy are to promote efficiency and to promote equity. ANSWER: T TYPE: T KEY1: D SECTION: 2 OBJECTIVE: 7 RANDOM: Y [cxxi]. Market failure refers to a situation in which the market does not allocate resources efficiently.
Income Inequality, Is It a Problem? Rachael Johnson ECO100: Survey of Contemporary Economic Issues Lisa Turner July 26, 2010 Income Inequality, Is It a Problem? There is a in depth literature on the issue of income inequality, summed up by Milanovic (2006).“Since it is only through contact that recognition and tension are created, one could argue that the reduction of physical misery associated with low income and consumption levels permit an increase rather than a diminution of political tensions the political misery of the poor, the tension created by the observation of the much greater wealth of other communities may have only increased." In spite of the later damage of the reputation of his representation of income inequality
For this reason, this topic of research is extremely significant as a minimum wage hike is sensitive to the livelihoods of millions and, it questions whether it is a safe political instrument for economic development. Typically, the common textbook argument in economics is that when a minimum wage increase is implemented it impedes the economy by prompting a higher unemployment in the country. However, after scrutinizing the experiments and analysis conducted by economists surrounding this topic, it is proven that this textbook argument is invalid in developed countries, specifically in Canada and the United States. In fact, a minimum wage hike significantly drives consumer spending from increased household income at a cost
How does inflation affect money's ability to store value? (3-6 sentences. 2.0 points) 5. Imagine that you are considering moving to a new country and looking for a job there, but you first want to make sure the country has a strong economy. Describe at least three economic factors that you would want to research as evidence of the economy's strength or weakness, and explain how each factor would affect your decision to move there.
Satoria Mckenzy Principals of Economics (Ref # 380267) Spring 2013 The Full Economic Impact of an Increase in the Minimum Wage Where minimum began - The history of minimum wage, what is minimum wage, the laws of minimum wage. The minimum wage has a strong social appeal, rooted in concern about the ability of markets to provide income equity for the least able members of the work force. For some people, the obvious solution to this concern is to redefine the wage structure politically to achieve a socially preferable distribution of income. Thus, minimum wage laws have usually been judged against the criterion of reducing poverty. Statutory minimum wages were also proposed as a way to control the proliferation of manufacturing industries.
Inflation is when the value of money goes down, so that you can’t get as much for your money as you could in the past. If inflation is increasing, which means the value of money is going down; it may make more sense to invest the money in investments that are likely to increase in value. 5. Imagine that you are considering moving to a new country and looking for a job there, but you first want to make sure the country has a strong economy. Describe at least three economic factors that you would want to research as evidence of the economy's strength or weakness, and explain how each factor would affect your decision to move there.
Aggregate demand is defined as the total demand in the economy. The importance of managing aggregate demand in order to bring about a sustained reduction in unemployment depends on your economic view. There are two schools of thought who both have different views on how to reduce unemployment: Keynesian economists and Monetarist economists. Keynesian economists believe that increasing aggregate demand in order to stimulate higher output of goods and services, then leads to an increase in employment. In contrast, Supply side economists believe that unemployment is caused by the supply side of the economy not functioning properly.