Nowadays‚ gross domestic product (GDP) is the prime measure for economic performance in different countries around the world. Governors or politicians using this figures to make economical decisions for years. However‚ controversy indeed surrounded the economist about whether they should gauge the economics statues with other metric rather than GDP as the rapid growth in recent years has changed the main target for the leaders in different countries. GDP measures have been started since the Second
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A XILROD economics Inside the Fed MONETARY POLICY AND ITS MANAGEMENT‚ MARTIN THROUGH GREENSPAN TO BERNANKE “An intimate account of the Fed’s depressing decline in the seventies and dramatic comeback in the Volcker years when the central bank triumphed over the biggest threat to the U.S. economy since the Great Depression. Now that the old enemy‚ stagflation‚ is stirring once more‚ the lessons Stephen Axilrod draws from past battles couldn’t be timelier.” Sylvia Nasar‚ author of A
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Aristotle and Economics Aristotle is classified among the most vital thinker ever to exist in the economic sector. He advanced and analyzed economic processes within his surroundings to determine the position of the economy (buying and selling) in the society. Aristotle’s writings on economics continue to attract the attention of many contemporary thinkers. He developed many insightful economic thoughts especially the value theory. The most important topics related to economics covered by Aristotle’s
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Chapter 01 - Economic conceptsChapter 01 - Economic concepts Student: ___________________________________________________________________________ 1.|Economics is a study of: A. |scarcity.|B. |production.|C. |labour resources.|D. |money.|| 2.|Opportunity cost means: A. |wasted opportunities.|B. |costs incurred in purchasing goods and services.|C. |alternatives forgone.|D. |the costs of production.|| 3.|The production possibilities frontier illustrates: A. |current production levels.|B
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Introduction Economic systems are organized way in which a state or nation allocates its resources and apportions goods and services in the national community. An economic system is slackly defined as country’s plan for its services‚ goods produced‚ and the exact way in which its economic plan is carried out. There are three types of economic systems exist‚ they are command economy‚ market economy‚ and mixed economy. Command economy is also sometimes called planned economy. The expectations
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KENYATTA UNIVERSITY SCHOOL OF ECONOMICS DEPARTMENT OF APPLIED ECONOMICS EAE 307: INTERNATIONAL ECONOMICS I INSTRUCTOR: P. M. KUUYA SCHOOL OF ECONOMICS DEPARTMENT OF APPLIED ECONOMICS EAE 307: INTERNATIONAL ECONOMICS I LECTURER: P. M. KUUYA TABLE OF CONTENTS 1 LECTURE ONE 6 1.0 INTRODUCTORY LECTURE 6 1.1 Why
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TASK 1 1.1 Explain the economic principles related to construction industry‚ taking the following in to consideration; Scarcity‚ Specialization‚ Division of Labour Scarcity This is the basic economic problem. Mainly Scarcity means that the resources are not enough to satisfy human wants fully or completely. In other words the resources are insufficient to produce all the goods and services humans might desire as the resources are limited and the human wants are unlimited. Here the resources
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& SCIENCE UNIVERSITY INTRODUCTION TO ECONOMICS (DEC 0053) ASSIGNMENT 1 (INDIVIDUAL) Due Date : 4th January 2013 (Friday) Format : Typeface: Arial‚ Font: 11‚ Spacing: Double‚ Cover Page: White colour Assessment : 50 marks Question a) Reference to the notes‚ article‚ internet and any text book on the Economic System‚ make a comparison between the socialist‚ capitalist and the mixed economy. Take one nation/country to explain that each economic system used by the nation/country. Your
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ECONOMICS OF GLOBALIZATION SAURABH SINGH SCHOOL OF BUSINESS (2012) (GALGOTIAS UNIVERSITY) Name: Saurabh Singh MBA(Batch 1) 12SOB102234
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eNo. 2316 September 17‚ 2009 The Economic Role of Government: Focus on Stability‚ Not Spending Karen A. Campbell‚ Ph.D. Abstract: Is there a role for government in the economy? Yes‚ says Heritage analyst Karen Campbell—but the government must focus on maintaining economic stability. Fiscal responsibility is an important part of that stability. Government debt can quickly become a burden on the economy and weaken its foundations. Sound macroeconomic policies enhance the credibility of the government
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