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Economics Marathon (1 Viewer)
- Thread starter Sparcod
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*Ninny-mole*
The Power Is Yours...
Re: Economics Marathon - The 2006 Version
But I do have a question if that's okay...
Question: What is the likely impact on australia's balance of payments of a decline in the TWI?
I never learnt this either... Is it necessary to know? I mean, would you even need to talk about it in an essay??? Ummmm, sorry, I can't answer that...Always said:
But I do have a question if that's okay...
Question: What is the likely impact on australia's balance of payments of a decline in the TWI?
Re: Economics Marathon - The 2006 Version
Worsening TWI= wider CAD as net exports is part of the current account
Also, more money needs to be borrowed to cover the costs of imports
Next Q: What are the costs and benefits of reduced protection??
An over-asked question
Worsening TWI= wider CAD as net exports is part of the current account
Also, more money needs to be borrowed to cover the costs of imports
Next Q: What are the costs and benefits of reduced protection??
An over-asked question
Re: Economics Marathon - The 2006 Version
costs - unemployment (more welfare payment, tax, twin deficits), esp structural, worse cAD due to lower export and higher import in the short term (althou not really the case atm as commodity is really inelastic)
benfits - economies of scale - effiencies, higher SOL & better in the long run.... (wat else? XD)
_____________________________
My question:
What theories can be used for allocative, technical and dynamic efficiency?
costs - unemployment (more welfare payment, tax, twin deficits), esp structural, worse cAD due to lower export and higher import in the short term (althou not really the case atm as commodity is really inelastic)
benfits - economies of scale - effiencies, higher SOL & better in the long run.... (wat else? XD)
_____________________________
My question:
What theories can be used for allocative, technical and dynamic efficiency?
Re: Economics Marathon - The 2006 Version
Allocative effieciency: efficient allocation of resources to industries needing them the most to satisfy the consumer tastes in the most efficient way.
Technical efficiency: the lowest possible costs when producing goods and services.
Dynamic effieciency is the embracement for/responsiveness change as consumer demands vary by bringing upon newer production methods and goods/services to remain competitive.
By achieving these three dimensions of efficiency, the firm is at its highest productive capacity and productivity is at its maximum
We're running out of askable questions...
Q:What are the advantages and disadvantages of a centralised, governement-controlled wages system.
Allocative effieciency: efficient allocation of resources to industries needing them the most to satisfy the consumer tastes in the most efficient way.
Technical efficiency: the lowest possible costs when producing goods and services.
Dynamic effieciency is the embracement for/responsiveness change as consumer demands vary by bringing upon newer production methods and goods/services to remain competitive.
By achieving these three dimensions of efficiency, the firm is at its highest productive capacity and productivity is at its maximum
We're running out of askable questions...
Q:What are the advantages and disadvantages of a centralised, governement-controlled wages system.
Re: Economics Marathon - The 2006 Version
sorry this is not a answer but a followup Q
i was trying to ask like what theories can we put in for those three area of efficiency? XD.. i know technical effiency is supported by economies of scale, is there one for allocative and dynamic? or r they both under EOS as well?
Sparcod said:
sorry this is not a answer but a followup Q
i was trying to ask like what theories can we put in for those three area of efficiency? XD.. i know technical effiency is supported by economies of scale, is there one for allocative and dynamic? or r they both under EOS as well?
Re: Economics Marathon - The 2006 Version
Q: What are the advantages of prices and incomes policies?
1. Decreased inflationary pressures
2. The ability of an industry to pay for wage increases is taken into account
3. Firms can become more productive
Q: What are the advantages of prices and incomes policies?
1. Decreased inflationary pressures
2. The ability of an industry to pay for wage increases is taken into account
3. Firms can become more productive
onebytwo
Recession '08
Re: Economics Marathon - The 2006 Version
...er.....low unemployment in the short term....cant think.....Sparcod said:
Re: Economics Marathon - The 2006 Version
advantage - using a loosened monetary policy can help stimulate growth in the economy in the short term by lowering interest rates, thus increasing consumption and investment by businesses and consumers, as they have more purchasing power...(?)
one disadvantage - Monetary policy does not address long term economic growth in the long run (as this is mainly influenced by the supply factors of the economy).
Also, a loosened monetary policy may increase inflation rates as consumption and investment increases, increasing inflation from demand-pull inflation.
Im not sure if this is right
Next Question - What are the disadvantages of microeconomic reform?
7:13 am...way too early to be doing economics...but anyway...Without Wings said:
advantage - using a loosened monetary policy can help stimulate growth in the economy in the short term by lowering interest rates, thus increasing consumption and investment by businesses and consumers, as they have more purchasing power...(?)
one disadvantage - Monetary policy does not address long term economic growth in the long run (as this is mainly influenced by the supply factors of the economy).
Also, a loosened monetary policy may increase inflation rates as consumption and investment increases, increasing inflation from demand-pull inflation.
Im not sure if this is right
Next Question - What are the disadvantages of microeconomic reform?
Re: Economics Marathon - The 2006 Version
Disadvantage- moentary policy is a blunt instrument. It works effectively on booming industries, however, industries which are suffering e.g. agriculture are worse off.
advantage- monetary policy is a quick solution to lower demand in an economy. This will decrease inflationary pressures and halt to growth of inflation, assisting sustainable economic growth.Without Wings said:
Disadvantage- moentary policy is a blunt instrument. It works effectively on booming industries, however, industries which are suffering e.g. agriculture are worse off.
Re: Economics Marathon - The 2006 Version
i wonder if you could giv an example if you get a question like this?
anyway....microeconomic policies such as reducing protectionist policies will lead to increased u/e in the short term
theres a large debate about larger inequality when microeconomic policies are introduced
im going to answer my own question lol.Sparcod said:
i wonder if you could giv an example if you get a question like this?
anyway....microeconomic policies such as reducing protectionist policies will lead to increased u/e in the short term
theres a large debate about larger inequality when microeconomic policies are introduced
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Re: Economics Marathon - The 2006 Version
In the three sector model, equilibrium occurs when Y = C + I. So,
Y = 100 + 0.8Y + 40
Y = 140 + o.8Y
0.2Y = 140
:. Y = 700
Please DO correct me if I'm wrong.
I'm not entirely sure, but this is my attempt:dfm said:
In the three sector model, equilibrium occurs when Y = C + I. So,
Y = 100 + 0.8Y + 40
Y = 140 + o.8Y
0.2Y = 140
:. Y = 700
Please DO correct me if I'm wrong.
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