Illustrate Economics for citizenship
Illustrate Economics for citizenship?
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1. Most political problems have an economic aspect, whether it is balancing the budget, fighting over the tax structure, welfare reform, international trade, or concern for the environment.
2. Both the voters and the elected officials can fulfill their role more effectively if they have an understanding of economic principles.
Illustrate major economic flows that link U.S. with nations. Provide an example to illustrate each flow. Explain the relationship between the top and bottom flows.
Give a brief introduction of the term Cost of retained earnings?
Briefly explain how the competitive market economy will make the needed adjustments to reestablish an efficient allocation of society’s scarce resources?
Janet has loaned a start-up coffee house $50,000 and predicts to earn interest from her financial investment. In circular flow model this transaction is an illustration of: (1) An exchange of her saving for interest, via a resource market for the economic capital. (2)
Explain: “Affluence tomorrow requires sacrifice today.”
Distinguish between Individual as well a market demand?
Describe the merits of “roundabout” production? Describe the term “division of labor”?
If one decisionmaker in interdependent circumstances calibrates its decisions to the anticipated reactions of the other party, in that case the decisionmaker is engaged within: (1) psychological forecasting. (2) profit maximization. (3) collusion. (4) strategic behavi
What are the main sources of growth?
Conception of the “Invisible Hand” by Adam Smith relies on mechanisms like those as underpin: (1) William Stanley Jevons’ “sunspot” theory of business cycles. (2) the biological concept of Homeostasis. (3
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