To what extent do you agree with the statement that concerns over immigration levels often relate to identity and culture more than to the economy. Use examples to illustrate your argument. Almost all economists are in agreement that immigration has positive economic effects. Indeed in the United States it “provides natives with a net benefit of at least $80‚000 per immigrant‚ or as much as $10 billion annually” (Bolin‚ 2006). However despite this there are huge numbers of advocacy groups pushing
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Assaignment topics: Nature ‚ conceps ‚ measurement of nation income Classical and Keynes approaches nATIONAL INCOM E: ----The t otal sum of goods and services produced by t he people of a count ry wit h t he help of capit als and national resources called Nat ional Income (Prof. Alfred Marshall) We can define Nat ional Income as t he collective achievement of a nat ion. In t his way‚ t he Nat ional Income is t he aggregat e of t he individual incomes. (Prof. Gardner Ackley) Nat ional Income is
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fail to stimulate. In the wake of the Keynesian revolution in the 1930s and 1940s‚ various neoclassical economists sought to minimize the concept of a liquidity trap by specifying conditions in which expansive monetary policy would affect the economy even if interest rates failed to decline. Don Patinkin and Lloyd Metzler specified the existence of a "Pigou effect‚" named after English economist Arthur Cecil Pigou‚ in which the stock of real money balances is an element of the aggregate demand function
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Keynes versus Friedman To begin with‚ I would like to say that these to economists made perhaps the greatest and the most significant contribution to economy in the twentieth century. They are beyond any doubt among most powerful intellectuals that set their feet over the ground. Ideas they created‚ patterns they discovered and laws they introduced have become fundamental in political economy and macroeconomics. Still‚ these two brilliant minds did not share each others’ views over some basic economics
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market economic will goes right. Budget deficit can occur when the business or government exceeds the revenue available for their spendings. As I mentioned in the first paragraph‚ It’s common that people always think the deficit is something bad. Economists state that deficit is not a big problem because deficit spending stimulates the economy when it
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savings‚ investment‚ international trade and international finance. The two major theories of economics are Classical Economics and Keynesian Economics. Classical economists believe that markets function very well‚ will quickly react to any changes in equilibrium and that a “laissez faire” government policy works best. Keynesian economists believe that markets react very slowly to changes in equilibrium (especial to changes in prices) and that active government intervention is sometimes the best method
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economics of crime. Economists have brought tools such as hedonic real estimate work‚ using the differences in real estate costs between high crime and low crime areas to assess individual’s willingness to avoid crime‚ and thereby to measure the economic costs of crime. But this research extends far beyond just estimating the costs of crimes. Economists have used sophisticated statistical techniques to estimate the extent to which increases in punishment deter crime. Economists have also investigated
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behavior of consumers‚ fiscal policy‚ and government spending. Classical economists‚ in essence‚ monitor what is currently transpiring in the economy. They believe that the economy is stable and self-sustaining because in the long run‚ the market supposedly automatically adjusts to “booms” and “busts”. This principle is heavily influenced by the epoch of industrialization – during and after. In a Classical economic model‚ economists consent individuals’ actions and desires‚ thus allowing prices to fluctuate
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Chapter 2 – Thinking Like an Economist • The economist as scientist o They devise theories‚ collect data‚ and then analyze these data in attempt to verify or refute their theories. o Scientific method = the dispassionate development and testing of theories about how the world works. o Although economist use theory and observation like other scientists‚ they face an obstacle that makes their task especially challenging: In economics‚ conducting experiments is often difficult and sometimes
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seen slower Date: 09-12-2011 Author: Rupa Damodaran KUALA LUMPUR: MALAYSIAN exports‚ which have remained on a steady growth path despite a slowing global demand‚ is likely to grow at a slow pace in October‚ said economists. Base effect is one of the reasons for the pace but economists were however cheered by the support by commodity prices‚ which would be a boost to the total export receipts. According to a Business Times poll‚ exports are expected to post a 8.07 per cent average growth rate and
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