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the industrial revolutionthe century after 1750 saw the industrial revolution proper invention of steam engine spinning jenny power loom hydraulic
what is demographic transitionin the world today not all nations have gone through their demographic transitions many countries today arent rich
determine the population growth rates birth control meant that those who didnt wish to have more children can exercise their choice parents began to
so what caused the end of malthusian age how did humanity escape from the trap in that invention and ingenuity increased the numbers though not the
the end of the malthusian age we clearly no longer live in a malthusian age for at least 200 years improvements in the efficiency of labor made
determine the oldest ideas in economicsone of the oldest ideas in economics is that increases in technology certainly run into natural resource
why were there not any sustained increases in material productivity of human labor back before 1500since improved technology quickly ran aground on
human numbers grew as the population after 1800after 1800 human numbers grew as the population explosion took hold it carried our entire population
determine the economic productivity levelup until 1500 as best we can tell there had been next to no growth in output per worker for the average
illustrate the economic growthup until 1800 growth rates of human populations were glacial population growth between 5000 bc and 1800 averaged less
what is the classical models explanation for involuntary unemploymentaccording to the classical model involuntary unemployment only increases when
what are the three major types of unemployment a frictionalb structural andc cyclical unemploymentcyclical unemployment is broadly spread by an
how does the bls classify people who are not in the labor force and what people are often in this category if an individual surveyed that is who
why is high unemployment considered a bad thinghigh unemployment means that a nations resources are underutilized it also poses great
define the term - productivityproductivity is the concept which measures how outputs can be maximised from given inputs in factories labour
determine the exchange ratewhen a currency is freely floating the central bank doesnt have to set monetary policy to alter the external value of the
determine the term - hot moneya large hot money inflow shifts the demand curve for currency to the right leading to exchange rate rising and to an
what is independent monetary policyadvantages first in a freely-floating exchange rate the exchange rate must move down or up to correct a payments
what are the international economic crisisa current account surplus can only take place in one nation if there is a current account shortage in
determine the long-term direct investment flowslong-term direct investment flows are when investors buy physical assets like land or capital
illustrate the policy - beggar my neighbourbeggar my neighbour policies are government policies which attempt to gain a competitive benefit at the
what are the main aspects of globalisation two of the other main aspects of globalisation are greater international mobility of capital and to some
what is trade liberalisation trade liberalisation is the removal of barriers to trade this has mainly taken the form of restrictions created by
explain demand management of keynesian economists the demand management of keynesian economists of 50s and 60s is attacked by free-marketers for
state the macroeconomic policythe view that macroeconomic policy must only focus on supply-side performance of economy and should ignore management