recession. However‚ instead of using the stimulus package‚ the money could’ve been saved and still achieve the same effect as the stimulus package. Saving money will “have precisely the same impact on national income as spending.”This is because economic math proves that the GDP(gross domestic product) cannot be raised when transferring monies from one group of people to another. Whether or not the money is spent in stores or sits in a bank account‚ it is being used in different ways but still achieves
Premium Investment Economics Gross domestic product
As I read through the entirety of the Naked Economics I learned many valuable things that I will use as I go throughout my life so I can make decisions that will benefit me and my family. In chapter five of the book it talks a lot about how information and marketing. One of the strategies that they explain is how we companies use advertisements to gain profits. They will appeal to youth or gender to gain a foot hold in the market. McDonalds is a great example of this: they would offer toys for the
Premium Marketing Customer service Customer
Question- 01: What was the historical background of the school? Answer: The Keynesian school‚ proponents of the branch of economics now termed as Keynesian economics had come into existence towards the beginning of the twentieth century. This school was arguably the first viable alternative to the Classical school of thought. The school argues that private sector decisions sometimes lead to inefficient macroeconomic outcomes and therefore advocates active policy responses by the public sector
Premium Keynesian economics Macroeconomics Great Depression
The Three Basic Economic Questions 1. What to Produce? what items to produce and how much of each item to produce using its productive inputs in the most efficient manner. 2. How to Produce? one the decision has been made regarding what to produce. each country must choose which resources productive inputs will be used and in what combinations 3. For Whom to Produce? should the productive outputs be distributed based on social customs‚ personal wealth and ownership‚ or mandated by the government
Premium Economic system Planned economy Capitalism
The basic economic problem of scarcity refers to the situation in which finite factor inputs are insufficient to produce goods and services to satisfy infinite human wants. It is incontrovertible and irrefutable that all societies face the basic problem of scarcity due to limited resources and unlimited wants. Scarcity makes it necessary for us to make the most of what we have. In trying to obtain the highest level of satisfaction from available resources‚ good or rational choices have to be made
Premium Economics
Environmental Economics : Some Basic Concepts 1. Welfare economics Welfare economics is a branch of economics that uses microeconomic techniques to evaluate economic well-being‚ especially relative to competitive general equilibrium within an economy as to economic efficiency and the resulting income distribution. associated with it. It analyzes social welfare‚ however measured‚ in terms of economic activities of the individuals that comprise the theoretical society considered. As such
Premium Welfare economics Externality Economics
Economics is the study of answering the scarcity problem. Everyone faces scarcity as no resources are infinite. Since no resources are infinite we must be efficient in allocating them. Every allocation has an oppertunity cost. If you produce microwaves you produce less computers. Since we can assume consumption provides utility‚ we must allocate the resources to yield the greatest utility. This is called allocative efficiency Key terms are Utility scarcity allocative efficiency oppertunity
Premium Economic system Economics Allocation
Norman Mailer’s The Naked and the Dead was published in 1948‚ and the novel earned the author immediate overwhelming popular and critical acclaim. The book’s success was so extensive‚ it claimed the top spot on the The New York Times "Bestseller List" for eleven weeks consecutively. Both the author and the book drew reviews and opinions from critics both independent and from the most relevant magazines and newspapers‚ giving Mailer a strong push into literary relevance at a very young age‚ as seen
Premium World War II Literature
Yesenia Steward 24 April 2014 LIT2090; T‚R (9:50AM) Naked Lunch Reading Quiz 1. Identify the following: a. The Shoe Store Kid: The shoe store kid is a drug manipulator who seeks out his prey with hands of "rotten ectoplasm.” b. The Rube: This K.E. was Burroughs’ long-standing friend‚ Kells Elvins‚ who was living in Denmark in the mid-1950s — which is why they were on the Malmö ferry together in the first place. Burroughs visited Elvins and his wife Mimi in Copenhagen from late July to early September
Premium Allen Ginsberg Drug addiction Tangier
Interview Q/A Top 3 Strengths: 1. I am very adaptable and accepting of change with new processes or initiatives. I understand the importance of change‚ especially with technology. I enjoy leading the change with positive encouragement and watching as new operations gain acceptance and become successful‚ such as the export successes of the various companies I work with. 2. I have the ability to use my own initiative to take on challenges. I am always proactive at what i do and that keeps my
Premium Error Project Project management