To What Extent is the House of Commons Effective in Carrying out Its Various Functions? The mechanisms placed in the House of Commons to ensure its effectiveness are vital to the democracy and overall quality of governing within the UK. Whilst government domination proves to be the key hindrance affecting the quality of the Commons’ work‚ the checks and balances and opportunities to scrutinise produce an effective chamber in regards to the most important of its functions. The primary function
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Question: Discuss the implication of business cycles on fiscal and monetary policy. Answer: Business Cycle: Market economies have regular fluctuations in the level of economic activity which we call the business cycle. In other words‚ the business cycle is the periodic but irregular up-and-down movements in economic activity‚ measured by fluctuations in real GDP and other macroeconomic variables. A business cycle is identified as a sequence of four phases: 1. Contraction (A slowdown in the pace
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demand and supply forces until the introduction of money. Because money is also like any commodity‚ the demand for money and supply of money are real forces that help promote efficiency in any system that uses the price mechanism‚ since most prices are quoted in monetary units. Nelson (2011) describes the demand for money not as the amount one wishes to have but as the amount of one’s wealth that is preferable in the form of currency or demand deposits. Because the demand for money is the demand for
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Q1: Between the insistence on austerity versus deficit increasing growth policies in the Eurozone‚ which do you consider the most relevant and why? Europe is trapped in a vicious cycle of high unemployment‚ financial sector fragility‚ heightened sovereign risks‚ fiscal austerity and low growth. According to an annual UN report published on 17 January 2013‚ the austerity policies throughout the industrialized world will not keep the economy from slipping back into recession. The Eurozone debt
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Monetary Policy and the Federal Reserve System Monetary policy is the Federal Reserves’ way of influencing the amount of currency and credit that is in circulation in the United States economy. When the currency and credit rates are altered‚ the interest rates and performance of the U.S. economy are affected. There are three goals of monetary policy; promote maximum employment‚ stable prices‚ and moderate long-term interest rates. The Federal Reserves’ goal is to implement effective monetary policies
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What is Fiscal Policy? One of the features that helps identify the economic direction of a country is fiscal policy. The government utilizes fiscal policy to control the economy through adjustment in spending levels and revenue. According to the theories of John Maynard Keynes‚ the British economist in regard fiscal policy‚ the decreasing or increasing expenditures (spending) and revenue (taxes) levels influences employment‚ inflation and the flow of money into the economic system. Fiscal policy
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had them thinking of ways to battle the present state of their economy. Back then‚ classical economists believed that downturns in the economy would eventually correct themselves with little or even no intervention from the government. The Invisible Hand would work its magic‚ still even today. However‚ the policymakers had to rethink this since they could not afford losing to recession once again. This in turn‚ led them to intervene by implementing fiscal and monetary policies. In recessions‚ the
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Teaching has no rewind‚ no replays. What you do will affect the learner and eventually how he acts in a social environment where the teacher also dwells. In any event‚ if the teacher was able to communicate what is good‚ true‚ and beneficial‚ he is imparting goodness to the world. On the other hand‚ if the teacher was not able to deliver the goods of the earth‚ the world is deprived. The main goal of teaching is not encapsulated only in the learning of the basics of life but delivering them and
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of the states involved‚ which is not applicable with the development of the EU. Representatives of the neo-liberal institutionalism see the EU‚ therefore‚ as a strong indication that intergovernmental institutions can not only serve for security concerns of individual countries to maximize their relative profit. They can also develop a power structure independent of their members. A possible accession of Turkey to the EU was always matter in Europe since the establishment of the EEC in the year
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EU citizenship Lecture 1 * Art 26 TFEU contains the free movement of goods‚ services and persons. * Residence directive moved it away from just an economic union * Used to just be people who were economically active people but not non-economical active people can reside such as students‚ retired people and people who can support themselves. Although you could not be a burden on the state. These directives have been repealed but the legacy lives on. * Article 20 TFEU‚ talks about
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