Distinguish between microeconomics and macroeconomics • Identify the broad macroeconomic policy objectives of governments • Define the terms inflation‚ deflation and disinflation • Explain the calculation of the CPI • Examine the accuracy of the CPI as a measure of inflation • Discuss the causes and effects of inflation • Explain the policies for controlling inflation Micro and Macro Economics • Microeconomics is the branch of economics that concerns itself with the study and behaviour of consumers and
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How inflation affect the common man? In: Inflation [Edit categories] The Economist MagazineEconomistSubscriptions.com Get a World view Every Week. 12 Issues for Rs. 500 only! Ads Answer: Inflation is the overall increase in cost of products and services. Increase in taxes and fees leads to inflation. Inflation also generally causes due to scarcity. When the cost of business increases‚ the prices of the products increases and this abrupt increase‚ the income rate supposedly goes down. These
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Inflation affects the real economy in two specific areas: it can harm economic efficiency‚ and it can affect total output. We begin with the efficiency impacts:- Inflation impairs economic efficiency because it distorts prices and price signals. In a low inflation economy‚ if the market price of a good rises‚ both buyers and sellers know that there has been an actual change in supply and/or demand conditions for that good‚ and they can react appropriately. By contrast in a high inflation economy
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The Nigerian Culture of Scamming and How it Came to Be Many Americans have very limited knowledge of Nigeria. People tend to know little regarding the country’s history or its current affairs‚ and hold the nation to a common image. This image of Nigeria can generally be narrowed down to poverty‚ corruption‚ and the scamming that is operated out of the country. While Nigeria is worthy of much more than a three-word summary‚ there are reasons why the country has earned this reputation. Poverty
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Inflation “Inflation is the rate at which the general level of prices for goods and services is rising‚ and‚ subsequently‚ purchasing power is falling.” Central banks endeavour to put an end to grave inflation‚ along with drastic deflation‚ striving to keep the extravagant growth of prices at the lowest level. For example‚ if there is 5% inflation in a specific country and the price of sugar is usually £3‚ it will spontaneously escalate from £3 to £3.15. Every government’s tries to keep a low
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With its roots in banking‚ the sub-prime mortgage crisis that commenced in the United States in 2007 soon resonated in other sectors of its financial system‚ and the economy‚ at large. It spread quickly to the developed economies in Europe‚ including the United Kingdom‚ and Asia -with Japan becoming well affected. The emerging economies were not isolated. A transmission channel of the global financial crisis‚ which has been referred to as the “Globalised Synchronized Slowdown” is the stock market SERE-EJEMBI
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is to take advantage of the resources of the host country to better the home country. Such action has produced a vile reaction from many scholars. Onimode 1982‚ a Nigerian economic scholar said MNE are monsters that have constantly and steadily crippled the Nigeria economy. MNE in Nigeria have the protection and support of the Nigerian government which has lead to the
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Keomorokod‚ Im Meng and Chuop Vichet INFLATION Course Title: Fundamentals of Economics Professor: Meng Channarith April 09‚ 2013 CONTENTS Acknowledgement .....................................................................................................................ii Introduction .............................................................................................................................. iii Chapter One: Nature of inflation ....................................
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discuss the current size of the population‚ how does it effect the economic development‚ the impact on the standard of living and also focus on population growth as the contemporary concern by highlighting the past and present trends. However other arguments will be presented‚ such as theories that support the fact that population growth has an impact in economic development. According to Weeks‚ J (1999:13) the rapid acceleration in growth after 1950 was due almost entirely to the declines in the
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INFLATION - ITS CAUSES and ITS EFFECTS ON VARIOUS SECTORS ON INDIA - September 2nd‚ 2010 WHAT IS INFLATION Defination: Inflation is defined as the rate at which the general level of prices for goods and services is rising and subsequently purchasing power is falling Measures of Inflation Inflation is measured by calculating the percentage rate of change of a price index‚ which is called the inflation rate. Consumer price indices Cost of living indices Producer price indices
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