Discuss whether the introduction of maximum prices by a government would solve the problem of scarcity. Introduction Maximum price is the highest possible cost of a good or a service that is legally allowed. While an unregulated market usually does not have a maximum price besides what consumers are willing to pay‚ during certain times‚ the government would step in to assert some price control so that consumers within the country will not be affected that badly by inflation. (BusinessDictionary
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MACROECONOMICS ASSIGNMENT SECTION 2‚ TEAM 5 DATE: 30TH JUl 2012 The current macroeconomic scenario of China: China has been among the world’s fastest growing economies since opening up to foreign trade and investment and implementing free market reforms in 1979 with real annual gross domestic product (GDP) averaging nearly 10% through 2011. In recent years‚ China has emerged as a major global economic and trade power. It is currently the world’s second largest economy‚ largest merchandise
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and E) Instructor Sudip Chaudhuri Room B-207; Ext 185 1 India and the World Economy • Economics I and II: – Microeconomics – Macroeconomics • Economics III: – Course objective: analyze economic problems of India in the context of the ongoing process of globalization 2 How is India performing? What are the main economic issues? 3 Some Macroeconomic indicators • • • • • • • • • GDP Inflation Fiscal deficit Trade and current account deficit/balance Interest rates Repo‚ reverse
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continue studying it form an international and financial perspectives. Courses Such as International Trade‚ Financial Institutions‚ International Business‚ Intermediate Macroeconomics‚ Public Economics and other advanced level courses in financial stream of economics have catered well to my understanding of international macroeconomics and financial policies. In these courses‚ I learned trade theories and models‚ looked at major international institutions through their regulatory and policy framework
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Student number: 0903642 Program: Financial and Economic Sector Policies Course title: International Macroeconomics and Policy Assignment title: Analyzing relationship between inflation rate and per capita GDP growth INTRODUCTION There have been different theories for explaining crucial relationship between inflation and per capita GDP growth. In this paper we will consider the neoclassical model and wage equation. This approach is very useful in terms of flexibility to understand underlying
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Economist. (2010). Middle Kingdom meets Magic Kingdom. Retrieved on November 7th‚ 2013 from http://www.economist.com/node/16889262 Rittenberg‚ L.‚ & Tregarthen‚ T. (2009). Principles of economics. Nyack‚ NY: Flat World Knowledge . [Text] Chapter 20: Macroeconomics: The Big Picture Trading Economics. (2013). United States GDP. Retrieved on November 16th‚ 2013 from http://www.tradingeconomics.com/united-states/gdp Trading Economics. (2013). United States Interest Rate. Retrieved on November 16th‚ 2013 from
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situations. Criticism of the neoclassical theory tend to be the fact that neoclassic economists assumptions are taken for granted and unrealistic‚ treating economics as a science tends not to represent real situations. [Investopedia‚ 2012] Government macroeconomics policy using the Keynesian theory would be more supply-side‚ whereas Neoclassical economists tend to be more demand and supply
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1.Discuss short run‚ long run‚ and very long run analysis in macroeconomics Macroeconomics consists of three realms: short run‚ long run‚ and the very long run. These are ways in which an analysis of the economy can be conducted with respect to time. Until today‚ the different types of national government policies are made based on these models of analysis. short run graph In the short run‚ firms cannot change the prices because there is a lack of time for the price to manifest in the market
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to the internal or external sources. It is required when the stocks of government securities are insufficient to cover previous budget deficits. Budget deficits occur when the level of government expenditures exceeds its revenues. Based on macroeconomic theory‚ the level of government expenditure must be positive with the economic growth. The higher the expenditure‚ the higher will be the economic growth. Government expenditure can be divided into productive and unproductive expenditure. Productive
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MACROECONOMICSLESSON 1 WHAT IS MACROECONOMICS DR. TULSI JAYAKUMAR 1 LEARNING OBJECTIVES Introduction to Macro economics – Key concepts- Growth‚ Inflation and unemployment‚ objectives and instruments/policies Circular Flow of economic activity. DR. TULSI JAYAKUMAR 2 An Intro to Macro What is Macroeconomics Two central themes of macroA) The short-term fluctuations in output‚ employment‚ financial conditions and prices that we call the Business Cycle. B) The longer term trends in
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