Why is consumption smoothing? The consumption function plays a major role in GDP of macroeconomy. Hence‚ its stability is of great importance to a country’s economy. The economist Irving Fisher proposed “Intertemporal choice” is the study of the relative value people assign to two or more payoffs at different points in time. Most choices require decision-makers to trade-off costs and benefits at different points in time. (Fisher‚ 1930) According to Fisher’s model‚ economists Franco Modigliani created
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PROs AND CONs OF INCREASING OIL PRICE 1. INTRODUCTION In this decade‚ the price of oil has been raised 3 times. The era of President SBY has the record of increasing oil price (premium). The policy was made by SBY has become pro and con between the expert of economic. Some people said that increasing the oil price is just can’t be done because it’s contra with UU‚ but government said that if we don’t raise the oil price it will absorb the APBN because the import oil price is higher and higher
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Increases and Decreases In Social Capital The definition of ‘social capital’ is easiest to define when looking at both words separately. Essentially‚ the ‘capital’ is the breadth‚ number and subsequent advantages of ‘social’ bonds. As sociologist John Fielding puts it‚ “Its central thesis can be summed up in two words: relationships matter.” (Field‚ J (2008). Social Capital. 2nd ed. New York: Routledge. 1). These relationships may manifest themselves in numerous social contexts‚ such as in work
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of Europe. The main challenge during that time was to replace British coal with internal production of the product (mainly from Asturias‚ in the North of Spain). Nowadays‚ Spain is still very dependent from other countries in the energy sector. Consumption has also increased rapidly. In 2010‚ demand for electricity ended up in 259‚940 GWh‚ 3.2% higher than the demand in 2009‚ the year in which demand dropped considerably as seen in this graph: In the following diagram we
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materials consumption nation. The development potential in construction materials industry is huge. Wear-resistant manufacturers should pay close attention to the trend of building materials industry and seize the opportunity in time. At present‚ China has become world largest construction materials production and consumption nation. China’s construction materials industry ranks top place in the world in terms of production scale‚ varieties and output. Figures show that per capital consumption of 1
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will grow at a CAGR of 8 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing exploration of unconventional gas. The Global Drilling Fluids market has also been witnessing increasing oil and gas consumption. However‚ the capital-intensive nature of drilling projects could pose a challenge to the growth of this market. Global Drilling Fluids Market 2014-2018‚ has been prepared based on an in-depth market analysis with inputs from industry experts
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Information Searchs University of Southern California illustrated the source of information that can be acquired through internal and external factors. Memories of the previous café experiences and the satisfaction rates can equip the internal information for these individuals. However‚ a research shows that the majority of Generation Y can not obtain a decision independently (Robinson‚ 2012). According to the survey‚ 75 percent of the respondents seek information through the crowdsourcing analysis
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“Is there such a thing as ethical consumption?” The entire world economy‚ especially the US economy‚ relies on consumers spending. But what happens when consumers overspend their money on things they don’t really need? What happens to all the products that are consumed every day and that people don’t want or need anymore? What is happening to our environment? Where is all this overspending or overconsumption going to take us in our future lives or the coming generation? Here is where I start
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Addicted To Oil The United States uses nearly a quarter of the world’s oil. This would not be a problem if the U.S. had a large oil reserve but it only has 3% of the world’s reserves for 4% of the population (Pickens). This huge dependence on oil is costing us economically and also threatens our dreams. The United States needs to become more energy independent by using sources other than oil. Many alternative sources are available but renewable sources provide the brightest future.
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the minimum wage is reduced back to $6.55 because it will decrease the unemployment rate‚ increase GDP‚ and help youth and unskilled workers in the job industry. The Great Depression was a devastating time for the United States with
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