An economy growing at 3% will double in 23 years 4 months, resulting in a octupling within the same 70 years, which is slightly less than an average lifespan. The economy will be twice as large with a mere 1% increase in the growth rate. Hence, economists would like to know what ...
In studying oligopolistic markets, economists assume that ? it is easy for a group of firms to cooperate and thereby establish and maintain a monopoly outcomethere is no conflict or tension between cooperation and self-interesteach oligopolist cares only about its own profit.strategic decisions do...
How a Firm Maximises Profit in a Perfectly Competitive Market Economists assume that the objective of a firm is to maximise profits. Profit is the difference between total revenue (TR) and total cost (TC). Therefore, a firm will produce that quantity of output where the difference between TR...
The divorce rate rose again during the rest of the decade as the recovery took hold. Millions of American families may now be in the initial stage of their responses to the current crisis, working together and supporting one another through the early months of unemployment. Today's economic cr...
Nevertheless, the BBD index is often met with skepticism by economists who are concerned that EPU either reflects other economic factors or is so endogenous as to be meaningless. One particular and common shortcoming of studies analyzing EPU is that long-term trends in EPU are ignored or omitted...
Admittedly, it has been too natural to assume we are the only centre of the universe—being an individual in this physical world, everyone has inherited through natural selection the animal instinct of self-preservation, which is, sadly, based on self-centeredness. Simply living with this notion...
Among persons with ‘traditional’ views on gender roles, a man’s unemployment may be considered to collide with a view of him as the main breadwinner in the family whereas a woman’s unemployment would not compromise her role as a mother. One could thus assume that education modifies the ...
What effect does an increase in the price level have on economic output (real GDP) in the long run?Economic Output:Economic output refers to the production of quality goods and services in a particular period consumed by an individual of the nation. The econo...
Assume the inflation of an economy is expected to increase by 5% and both the economy's output and the current money supply are unchanged. What will happen to the price level? Why are economists concerned about inflation? A...
Only a small percentage of options traders make money, while the vast majority of the retail investors hankering for the leveraged returns options can provide lose so much money that economists can only assume they're doing it for gambling and entertainment.10 ...