prices to a minimum. (Investopedia) a. Kinds of Inflation Inflation means a sustained increase in the general price level. However‚ this increase in the cost of living can be caused by different factors. There are many types of inflation but the main two types of inflation are; 1. Demand pull inflation: This occurs when the economy grows quickly and starts to ‘overheat’ Aggregate demand (AD) will be increasing faster than aggregate supply (LRAS). 2. Cost push inflation: This occurs when there is a rise
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“Macro effects of Massive Earthquake upon Economic in Japan 2011 to 2013” Macro Economics June 27‚ 2013 For: Dr. Sarri‚ Samuel Nevada State Higher Education‚ Summer 2013 I‚ the undersigned‚ IQ‚ hereby‚ certify that this Macro Scientific Research Paper is the result of my own intellectual and scientific endeavors. Date: 6/27/13 Index 1. Title page----Page
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Chapter 1: The Power of Markets 1. What are the two basic assumptions that economists make about individuals and firms? 2. What is the role and significance of prices in the market economy? 3. What’s so great about a market economy anyway? Chapter 2: Incentives Matter 1. Explain how each of the following relates to efficient outcomes in a market economy: * adverse selection * “perverse incentives” * principal-agent problem‚ * the prisoner’s dilemma. Chapter 3:
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further economic decline due to both prior economic problems and economic problems post Tito’s death. During Tito’s time as ruler‚ his vision was for a third way economy‚ in which saw Yugoslavia working with both East and West without being dominated by either. Despite communist representation‚ Yugoslavia was the most free of the communist states ‚ as Tito’s system allowed for small businesses which ultimately allowed for small luxuries and modest wealth. Due to Tito’s system and other economic measures
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INTRODUCTION Economic development is the increase in the standard of living of a nation ’s population with sustained growth from a simple‚ low-income economy to a modern‚ high-income economy. (http://www.google.com/url?q=http://en.wikipedia.org/wiki/Economic_development) Bangladesh is an economically developing country. We cannot develop our country because of some major economic barriers. Economic development of a country effected by many facts including political‚ economical‚ geographical
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days between two dates based on a 360-day year | EDATE | Returns the serial number of the date that is the indicated number of months before or after the start date | EOMONTH | Returns the serial number of the last day of the month before or after a specified number of months | HOUR | Converts a serial number to an hour | MINUTE | Converts a serial number to a minute | MONTH | Converts a serial number to a month | NETWORKDAYS | Returns the number of whole workdays between two dates | NOW
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Managerial Economics – Trial Exam – Theoretical Questions Part I: Indicate whether each of the following statements is True (T) or False (F). Comment. (5 Questions‚ Choose 4) A The law of diminishing returns takes effect‚ when a firm’s both marginal product and average product decline after the latter reaching its maximum. False: The law of diminishing returns takes effect when MP reaches its maximum value and starts to diminish “decline”; then‚ MP equals AP when the latter reaches its
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SOLUTIONS TO TEXT PROBLEMS: Quick Quizzes: 1. Gross domestic product measures two things at once: (1) the total income of everyone in the economy and (2) the total expenditure on the economy’s output of final goods and services. It can measure both of these things at once because all expenditure in the economy ends up as someone’s income. 2. The production of a pound of caviar contributes more to GDP than the production of a pound of hamburger because the contribution to GDP
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Adulterated food: a serious public health problem in Bangladesh Adulteration of food with toxic chemicals harmful to health has reached an epidemic proportion in Bangladesh. The newspapers have dubbed it as the ‘silent killer’. It is very difficult to find a sector of food industry which is free of adulteration. From raw vegetable and fruits to milk and milk products to fish‚ meat and processed food–every food item is contaminated. Almost every day in the news papers‚ newer and newer methods
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THE MACRO-ECONOMIC IMPLICATIONS OF MICRO-ECONOMIC MARKET FAILURES IN TELECOMMUNICATIONS – THE CASE OF SA. Nicola Theron ECONEX www.econex.co.za Department of Economics University of Stellenbosch nmb@sun.ac.za 1. INTRODUCTION This paper will examine the micro-economic market failures and the rationale for regulation in the South African telecommunications sector. The role of telecommunications in economic growth will be emphasized by analysing the effect that the micro-economic market failures
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