Quiz #1 1. TCO 1) The primary focus of the study of economics is on making the most efficient use of scarce productive resources. 2. (TCO 1) The key economic concept that serves as the basis for the study of economics is Student Answer: scarcity. 3.
Evaluating Fiscal Policy Alternatives Simulation ECO 372 November 28, 2011 Matthew Angner A government has a couple of roles the need to enforce in order to ensure that their people and land will be able to support them through any times. One of these roles is to invoke and sustain economic growth. The government can achieve this by trying to manipulate the trends in that particular economy, though fiscal policy. Fiscal policy is changes that are made to government spending or taxes that leads to one of two conclusions. One of these conclusions is that the economy will stimulate because of the changes being made, or the economy will slow down.
Why it is important to increase economic growth 4. Your rationale for the use of Reserve Requirements At the end of the game, you will be provided with this information to give to your instructor. Answer: Type your response here… I am choosing to lower the reserve and increase the economic growth rate using reserve requirements. The reserve requirements are intended to exert effects on the banking industry by making the banks have on hand a specified ratio of funds relative to what they have loaned out. Lower reserve requirements will result in more funds being available to loan out.
The whole idea behind marketisation was that by introducing the ideas of big business into schools the education system would improve. Consumer/parental choice and competition between schools would inevitably lead to better standards and would improve equality of opportunity. Parents were given the right to send their children to a school of their choice. Schools now had to publish league tables which would help parents make an informed decision. This led to parents having more power as consumers.
There are many views on the role of education in relation to the needs of the economy. Education is there to help in the supply of young people into the workforce however there are different sociological theories have different approaches as to how this is done and the role that education plays in the needs of economy. Some sociologists argue that education is set out to ensure that class is reproduced and that education is there to support the needs of a Capitalist economy. Whereas other sociologists would argue that education is there as an effective role allocation system providing the workforce with suitable workers. Functionalists believe that the role of education should be there to help sustain the support the growth of the economy
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.
What theory of profit best reflects the performance of the plasma screen makers? 2 To reduce Agency Problems, executive compensation should be designed to: Correct Answer: create incentives so that managers act like owners of the firm. 3 Economic profit is defined as the difference between revenue
What theory of profit best reflects the performance of the plasma screen makers? 2 To reduce Agency Problems, executive compensation should be designed to: Correct Answer: create incentives so that managers act like owners of the firm. 3 Economic profit is defined as the difference between revenue
This means that they (Baby Boomers) are the largest buying group in America being that they are the generation with the greatest buying power in our country’s history ("Baby boomers are," 2013). Surprisingly, though, this valuable generation is targeted by less 5 percent of advertising. If communicated and promoted effectively, marketers could greatly benefit by tapping into the Baby Boomer’s generation and looking outside of the traditional 18-34 year-old so-called “sweet spot.” However, a company needs to provide their product or service at a respectable price, provide it whenever needed and back their product with exceptional service in order to appeal to the huge Baby Boomer market ("Baby boomers are," 2013). Furthermore, marketers have to find ways to appeal to this huge market. They can so by appealing to Boomer’s desire to think, act, feel and even look young.
When these children grow up and graduate their college with a degree in their hand, they will get into good jobs. When they go into good jobs, they will surely earn a lot of money. This productive youth population will pay higher taxes which will help United States to compete in the global economy. So, by approving the DREAM act bill, United States discovered thousands of talented and dedicated children. The DREAM act benefited the country not only politically but also economically.