helps us to make a good choice. 2. Market is a system of conditions that permits buyers who have a demand and sellers who have a supply of a specific product work together. 3. The distribution of income is determined by the ownership of factors of production and by their prices – wages of each kind of labor‚ rents of land‚ royalties of books‚ and various returns to capital. 4. Non-physical money consists of cashable instruments (or instrument of payment) and cashless money (quasi money‚ or instruments
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Chapter 9 The Government and Fiscal Policy Principles of Macroeconomics‚ Case/Fair‚ 8e 9.1 Government in the Economy Multiple Choice 1) Fiscal policy refers to A) the techniques used by a business firm to reduce its tax liability. B) the behavior of the nation’s central bank‚ the Federal Reserve‚ regarding the nation’s money supply. C) the spending and taxing policies used by the government to influence the economy. D) the government’s ability to
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Everyone knows that all things cost money‚ even the prohibition on marijuana! It costs the U.S. government about 13.7 billion dollars to keep the prohibition on marijuana. Marijuana is classified as a hallucinogenic drug and is considered a schedule one drug; some of the most dangerous drugs such as heroin‚ molly‚ acid‚ and many more. This drug category suggests that these drugs have no medical purpose even though marijuana is legal medically or recreationally in 28 states including D.C. Marijuana
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INFRASTRUCTURE DEVELOPMENT V/S RURAL ECONOMY Infrastructure is of great importance for an economy and without developing of proper infrastructure no country can ensure its economic growth. The development of infrastructure in any economy is directly related to the economic welfare of its people. Rural infrastructure includes the roads‚ finance‚ transport‚ electricity‚ communication and warehousing. In the context of the Indian economy‚ infrastructure is of key significance in
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The Great Depression‚ which had an effect on economies on a global scale‚ was on of the catalysts to the start of World War II. With many countries struggling‚ Hitler managed to rise to power partially from his claims of the ability to change Germany into a great military and economic power. Across the ocean though‚ America was still mired down in the economic slump. President Roosevelt had enacted his New Deal economics and America seemed to be fighting back out of the depression‚ but it couldn’t
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parle-g INTRODUCTION A long time ago‚ when the British ruled India‚ a small factory was set up by Mohanlal Dayal Chauhan in the suburbs of Mumbai city‚ to manufacture sweets and toffees. The year was 1929 and the market was dominated by famous international brands that were imported freely. Despite the odds and unequal competition‚ this company called Parle Products‚ survived and succeeded‚ by adhering to high quality and improvising from time to time. A decade later‚ in 1939‚ Parle Products began
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A world bank report in 2007 commented on the continuing need for major spending worldwide on infrastructure in everything from roads and railways to water and electricity generation. A) Explain the effect of national income when there is an increase in spending on infrastructure. B) Discuss whether an efficient allocation of resources can be obtained only if large scale investment is undertaken by the public sector rather than the private sector. A) The national income of a country
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Fiscal Policy Lets begin with the obvious‚ Fiscal Policy is when modern government spend a great deal of money and collect a lot in taxes. The government of the United Sates plays a smaller role in the economy than those of Canada or most European countries. Those roles are still sizable‚ meaning that the government plays a major role in the U.S. economy. Changes in the federal budget changes in government spending or in tax policy can potentially have large effect on the American economy. To
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A Positive Effect on the Economy Imagine being in line at a convenient store and a Hispanic man is in line in front of you at the counter purchasing food and gas. Chances are that you might not even know it‚ but he just happens to be an illegal immigrant. Through purchasing that food and gas‚ he just contributed to the economy as a consumer by paying sales tax. This is just one small example of the several ways illegal immigrants contribute to and positively affect the economy of the United
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methods for the production of agricultural products which had caused them to pay a lot of money for the initial installation process‚ which can be said to a direct effect of the Capitalistic society. This mainly led the farmers to go in debt as they brought these things either through instalments/ credit and with the low price of commodities and over production of goods eventually led to the instability in the agricultural sector. By 1925‚ the growth of car manufacturing slowed down‚ along with residential
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