Economic efficiency

former rapid and sustained export-led economic growth after a serious recession. With the sharp slowdown of China’s economic growth rate in the year of 2008, Guo and N’Diaye (2009) also agree that it was due to China’s heavy dependence on exports.…

Apart from that, the idea of this infant industry protection is first fully articulated by Alexander Hamilton in his Report on the Subject of Manufactures or in short, Report on Manufactures and submits to Congress on behalf of the interests of the industrial bourgeoisie in 5 December 1971. There are only two ways for the United State to protect its industry that had mentioned in Hamilton’s report which are the free trade policy that continues to act as the product place of raw materials and the…

B E) A and C Answer: E Diff: 2 Bloom's Taxonomy: Analysis Geog. Standard: 11 Section: Key Issue 4 53) The U.S. government distinguishes between foreign and domestic cars A) for the U.S. Environmental Protection Agency to measure fuel efficiency. B) for the U.S. Department of Treasury Customs Service to set tariffs. C) for informing customers under the American Automobile Labeling Act. D) all of the above E) none of the above Answer: D Diff: 2 Bloom's Taxonomy: Comprehension…

contributor is Theodore Schultz, who was the Nobel Memorial Prize Winner in Economic Sciences in the year 1979. Shucltz (1961) delivered his address during the 1960 American Economic Association, entitled “Investment in Human Capital”, this is considered as the symbol which was born as the human capital theory. The human capital theory goes glory after him, great progress has been obtained in microeconomics, labor economics, growth theory and the theory of income…

a province’s economic growth, Newfoundland and Labrador’s being no exception. Innovation is a key factor in the competitiveness of a region through the creation of new markets which stimulate employment rates, increase the efficiency as well as the quality of services and goods, and ultimately fuel the economy. Since R&D is both similar to as well as essential to the innovative process, R&D’s importance to the financial status is evident. Furthermore, due to NL’ recovering economic state, aging…

Capitalism and socialism are known as formal economies The main difference between both of them moves around the government role and economies equality. Capitalism affords economic freedom, consumer choice, and economic growth. Socialism economy is controlled but the state and central planning authority planned it and it gives social welfare. Capitalism is characterized in the following ways:  Capitalism is made up of buyers and sellers and it’s basically a market based economy.  The profit…

economy. Countries seeking a solid performance report should primarily use income as their start up to finding the best possible economic route towards climbing out of economic drought. Income is the single most important factor in measuring economic performance. Gross domestic product otherwise known as “GDP” is the most frequently used measure of a country’s economic activity. GDP shows the total value of all final goods and services legally produced in an economy in any given period of time.…

because of its failures but because of capitalism economic successes. Those successes “undermines the social institutions which protect it and inevitably creates conditions in which it will not be able to live and which strongly point to socialism as the heir apparent.” Schumpeter was not the first economist who predicted the fall of…

economist John Maynard Keynes popularized a theory he named "the paradox of thrift" which highlights the need for a Capitalist society to consume. His theory states that "individuals try to save more during an economic recession, which essentially leads to a fall in aggregate demand and hence no economic growth." This essentially means that without spending, the economy will not grow and consequently will stagnate, leading to a greater recession. In order for a capitalist society to have a…

Unemployment rate The definition of unemployment rate is percentages of total workforce who are unemployed and are looking for a job. It can be measure the unemployed in a country and indicates a growing economy which is usually accompanied by higher inflation rate and may influence the interest rate higher or lower. Figure 1: Unemployment rate in Italy from Year 2000 until Year 2016 Based on Figure 1 for the year 2000 the percentage rate of unemployed in Italy is gradually decrease until…