Explain how we depend upon the law to give us a stable nation and economy, a fair society, and a safe place to live and work.
Law is an important tool to design and construct the society we want. It plays a very important role in maintaining the health of an economy. Law protects property rights, which encourages production and consumption. In absence of property rights protection, consumers will not buy products as their products may be stolen, firms will not produce products, and finally the market outcomes will not be efficient. The society will not be fair as a person willing to pay for a good will not be able to confidently retain that good. The confidence in the economic system will decrease and the economic system would break down. In absence of law. citizens will not be protected in their life as well as their workplace. For example, in the absence of sexual harassment laws, workplaces will become more unsafe and more people would be reluctant to go to work. Therefore, we depend on law to give us a stable nation and economy with fairness and safety.
Explain how we depend upon the law to give us a stable nation and economy, a...
Explain how Say’s Law can or can not be, an extension of Adam Smith’s insight that the division of labor is limited by the extent of the market, given that specialization can depend upon how much demand there is for a specialized good/service.
How is the US one of the wealthiest nation, but we have a high poverty rate? where is all the money going?
Explain the importance of monetary policy in helping an economy to thrive and grow. How does having a system of deposit insurance (FDIC) help the US monetary system to be more stable? In comparing the US to Venezuela, how does having an independent central bank help keep inflation under control?
1. Explain why and how the United States government became involved in dealing with the economy? 2. How did the farmers react to the economic problems (monopolies being one of the problems). 3. Give examples of how the United States is an imperialist nation.
Explain the role of the Federal reserve bank in the US economy Discuss how the policy makers use Fiscal policy to achieve macroeconomic stability
How is per capita GDP calculated, and what does it tell us about the economy? Explain?
How is per capita GDP calculated, and what does it tell us about the economy? Explain?
say that the economy exists in an ecological system. How can we how the concept of 2. Explain what we mean when we add the natural capital in a circular flow diagram, and why is it important? Discuss negative extemalities and property rights are related to pollution and resource degradation.
say that the economy exists in an ecological system. How can we how the concept of 2. Explain what we mean when we add the natural capital in a circular...
1. What is Socialization? Explain this concept and give an example of how it impinges upon our everyday lives? 2. Identify four defining features of culture. 3. Identify the four "agents of socialization."
Explain what we mean when we say that the economy exists in an ecological system. How can we add the natural capital in a circular flow diagram, and why is it important? Discuss how the concept of negative externalities and property rights are related to pollution and resource degradation.