Discuss the view that Cabinet no longer makes key decisions. (25 marks) There is evidence to suggest that cabinet no longer makes key decisions‚ and that the power rests with the Prime Minister alone. Traditionally the Prime Minister would be first among equals‚ chairing debates but only ultimately has the same say on issues as any other cabinet minister‚ when it came down to voting on the issue. Badgehot says that Cabinet has become just a ‘Dignified Institution’ in the 20th century‚ and many other
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QUESTION 1 a. A downward-sloping demand curve shows in both graphs when the quantity at each price is doubled what it was. However‚ the curve in demand for pharmaceutical drugs is drawn with a relatively steep slope as inelastic products. Equilibrium price down-sloping along the demand curve while quantity in both market increased to some extent. b. In inelastic demand of pharmaceutical drugs‚ the percentage change in price is greater than the percentage change in quantity demanded. While in elastic
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change in price. Demand Function: Quantity Demanded (Qd) = a + b* Price (P) b = (420 – 350) / (20 – 25) = 70 / -5 = -14 Using: P = 25‚ Qd = 350 350 = a – 14 * (25) 350 = a – 350 Therefore a = 700 and the demand function would be: Qd = 700 – 14 * P Supply Function: Quantity Supplied (Qs) = a + b* Price (P) b = (350 – 420) / (20 – 25) = -70 / -5 = 14 Using: P = 25‚ Qs = 420 420 = a + 14 * (25) 420 = a + 350 420 – 350 = a Therefore a = 70 and the demand function would be: Qs =
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in productivity growth between large and small firms in Mexico. It addresses how Labour Productivity growth affects the economy and how the economy is burdened by small firms‚ despite large firms rapidly improving through investments in both technology and skills. In this assignment‚ I will be discussing how productivity would affect the Gross Domestic Product (GDP)‚ GDP Growth‚ GDP per capita and the Sources of Economic Growth that could affect Mexico’s future economy. GDP refers to the monetary
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PF/2762 ECONOMIC DEVELOPMENT - A STRATEGY FOR NATIONAL SECURITY OF BANGLADESH INTRODUCTION 1. The post cold war era seemed to be indeed promising. The people found states with the aspirations of enhancing the individual and group security. Thus internal security is the prime responsibility of a nation state for the overall national security. “The former Soviet Union had to pay heavily for their ignorance of internal matters and giving priorities to ’Perestroica’ and other reforms”
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may fall and some capital investment projects may be scrapped even when interest rates are fairly low. | Anticipated inflation | Anticipated inflation is expectations about future price rises which households & firms use when planning economic decisions | Automatic stabilisers | Automatic fiscal changes are changes in tax revenues and government spending arising
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NBER WORKING PAPER SERIES DEFINED CONTRIBUTION PLANS‚ DEFINED BENEFIT PLANS‚ AND THE ACCUMULATION OF RETIREMENT WEALTH James Poterba Joshua Rauh Steven Venti David Wise Working Paper 12597 http://www.nber.org/papers/w12597 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge‚ MA 02138 October 2006 We are extremely grateful to Tonja Bowen for extraordinary and tireless research assistance‚ to Gary Engelhardt and Anil Kumar for graciously providing us with tabulations from
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Economic Growth Economic growth is by far the most important economic goal. This is for many reasons. First‚ a nations economy must grow with its population so it can provide jobs for the new people joining the workforce. There will always be people looking for jobs in an economy. As a population grows‚ so does its population of people looking to join the workforce. A nations economy must grow with the population so it can provide these goals. Next‚ when people are wanting to have more income
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Economic Integration Definition of ’Economic Integration’ An economic arrangement between different regions marked by the reduction or elimination of trade barriers and the coordination of monetary and fiscal policies. The aim of economic integration is to reduce costs for both consumers and producers‚ as well as to increase trade between the countries taking part in the agreement. Investopedia explains ’Economic Integration’ There are varying levels of economic integration‚ including preferential
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Economics of Pencil Making Just as with any other manufactured products‚ the economics of pencil manufacturing are driven by a number of factors. These cost drivers include: • cost of raw materials (wood‚ graphite‚ clay‚ brass or aluminum for ferrules‚ lacquer components‚ etc.) • cost of parts or other finished components used to assemble the pencil • cost of transportation and handling of various materials used and of the finished product to the factory • cost of labor and benefits for the
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