Transportation demand management

The object of this expansionary fiscal policy by the Canadian government, is to shift the demand curve to intersect with the short run aggregate supply curve and with the long run aggregate demand curve. In this case, since Canada is in the midst of a recession the aggregate demand curve is to the left of the intercept of the long run aggregate demand curve. At present the equilibrium of output (y1) is lower than the full employment of output (yfe) the difference of yfe…

Imagine working 80 hours a week and still not having enough money to feed your family. Imagine sending your chidren to school in old second hand uniform. Imagine telling your children you could not afford for them to go out with their friends. For many families in Britain this has been the case since October 2014 when the amount of people on the minimum wage doubled. In 1998 the labour goverment introduced the National Minimum Wage which ensured that people over the age of 18 years old were…

Value is a “dangerous word” because it can be and has been defined in many different ways. The current definition of value, according the Merriam-Webster, is “usefulness or importance.” Something that has importance or usefulness is related to a commodity with utility because a commodity doesn’t have value without utility. Value is a “dangerous word” according to Jevons because the term, value, can hold many underlying meanings that are not always supposed to be used. Three of these…

districts of many cities displaced thousands of households and commercial businesses in adjoining neighborhoods while enhancing the value of the downtown office towers that were made more accessible from the suburbs. The existence of inner-city interstates made it more convenient for downtown workers to live in the suburbs and commute to work, often making it possible for middle-class families to leave the city (Jackson, 1985). Although once considered to be a disseminate and even a poverty…

“State failure” means “the implosion of the state” according to Bates’ article State Failure. State failure is characterized by two major processes: First, “governmental predation” which means that those in power in the state abuse their position to exploit resources from others, who lake power rather then to provide security for them. Second, the state loses its monopoly of the means of force, which leads to a militarization of society. The author then addresses three contributing factors…

sector as trade barriers kept food prices artificially high. Ricardo mirrors Adam Smith’s stance that, the market, although imperfect, is best left untouched. A glut, arguably cannot occur if all resources optimally utilized (Say’s Law,“supply creates demand”), however, inherently the law does not account for hoarding, accumulation of money without purpose or intention to save, spend or…

1. What is the difference between micro and macroeconomics? Give an example of a microeconomic phenomenon and an example of a macroeconomic one. A) The difference between micro and macroeconomics is that microeconomics deals with how individuals and firms make decision in the face of scarcity and the impacts of the decision on the market. Hence, microeconomic focus on a part of the economy of a country. While macroeconomics deals with how a nation makes a decision in the face of scarcity and…

No! I don’t think that is a good idea! If steps are taken to reduce the movement of people, food and manufactured goods around the world, the global market will be extremely affected and there will be reduced in free flow of business transactions. Travel is a continuous process that often required travellers to partake in global activities of moving goods and services to every corner of the world. It is understandable that travelling activities can easily spread diseases around the world but…

Isocost curve is that curve represents the combination of inputs that will cost the producer the same amout of money. We get the slope of the isocost line. The isocost line shows the various combinations of labor and capital a firm can buy with a given price. The slope of isocost line = PL/Pk. In the given equation, the price of labour is indicated by PL and the price of capital is given by PK. The isocost line may change if the amount of money spent to buy factors changes but the slope…

3. Exhaustion of the sugar agro-export model The sugar industry was for many years the key player of the national economy, where most of the investment and credit were concentrated and where most foreign exchange and tax revenues were generated. If production and sugar prices raised much, there were enough foreign exchange to import consumer goods for the population and inputs and techniques for businesses. In turn, the bank recovered loans and the government raised its revenue. In other words,…