Readers Questions IV

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You are welcome to ask questions on Economics. However, due to volume of questions, I can no longer promise to answer all questions.

I will post the answer on this blog, for everyone to benefit from.

I shall try to answer the economics question and / or point to other resources but please bear in mind.

  1. The replies will be guidance and not for duplication. Your essays should be your own work.
  2. My speciality is economics for British A Level standard. My university economics is rusty in parts, because generally I don’t use it in teaching A level economics.
  3. I can’t guarantee to always give full answers it also depends on my time schedule.
  4. I will answer as a new post. Check home page of blog for new post. With question and answers
  5. Generally, I don’t answer questions, which involve mathematical calculations, they tend to be doing someone’s homework. however, I may give examples, of calculations, if I think it helps explain economics principles.

I studied PPE at Lady Margaret Hall college, Oxford University, and currently work as an Economics A Level teacher. I have also examined several different economic units for Edexcel AS and A2.

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276 thoughts on “Readers Questions IV”

  1. Hi,
    I would like to know how to answer these questions.

    Q1: Over the last few years the demand increased for organic vegtables. using the economic theory explain and analyse the effects of this increased demand on the market and illustrate with a graph. if we experience a recession what impacts of this be on the market for organic vegtables?

    Q2: The UK Government tends to levy relatively high indirect taxes on goods and services that are inelastic demand. Explain with examples, why this might be the case.

    Thanks,
    Hannah

    Thanks,

  2. Can you ,in simple terms, show or define how National Debt is calculated, Also how and where the funds are generated to reduce it?

  3. I once ran across a term and now can’t find it. It’s the economic theory that consumers will purchase a product or service which cost more money for the sole believe that it’s of higher quality due to its higher price.

    Is there a designated term for this?

  5. Q:1. what do you mean by value of money?How the value of money is determined according to the “Quantity Theory of Money”??

    Q:2.What is Fiscal policy?Mention the factors to be considered in formulating Fiscalpolicy of a country?

    Q:3.Mention the different kinds of unemployment?What are the mejor causes of unemployment in a country?

    Q:4.What is the different between Growth and Development?Explain the factor affecting macro-economics growth in a under development country?

    Q:4.What do you mean by philip curve ?explain the relation between Wage and unemployment in changing Economics condition using philip curve ?

  6. Rick:

    “I once ran across a term and now can’t find it. It’s the economic theory that consumers will purchase a product or service which cost more money for the sole believe that it’s of higher quality due to its higher price.

    Is there a designated term for this?”

    The term is, ostentation. Though it does not require the product to be of higher quality, merely higher value.

  7. Can you avoid a recession?

    The UK government are using public money to try and reverse the recession. If lending levels do return and there’s another crash, could it bankrupt the government?

    In the long run would we not be better off to accept the recession than risk an even larger one?

  8. Greeting,
    It comes to my mind this questions & I asked many people about it. Most of them tell me to refer to Economist leader.

    My Questions are :-

    What are the factors that makes today’s economic crises?

    Which of them are the most important in today’s economic crises?

  9. I know that a gentleman asked a similar questions on november 2008 about the yen. He made the point that in July 2008 the yen was 216 yen to the pound and November it was 135 yen to the pound. Matters have got worse since then and the yen has shot up even further. It is now only 120 yen to the pound.

    Effectively, it means that the pound sterling has devalued by about 50% in less than a year against the yen.
    Surely, it means that the price for Japanese exports has doubled at a time when shops have have deceased prices. How can it keep going up and up over a short period of time without a 1929 style currency crash?

    My question is, how much further will be yen rise, without there being a major world crisis? Is there such a risk of the raising yen bringing the “whole house down”. What goes up must come down, surely.

  10. What is the difference between the short-run and long-run Phillips Curve? Why in the long-run is there no trade off between inflation and unemployment? What are the policy implications?

  11. Using the standard demand and supply model explain what the level of employment and wages should be. Explain the impact of frictional unemployment (i.e., matched demand and supply) on the level of employment. How do efficiency wages and insider-outsider models affect the wage rate and level of employment? How would cyclical unemployment affect labor demand, employment, and the wage rate?

  14. considering you have been an examiner for edexcel, is there any way you could advise me on the points to include when answering the question, ” evaluate the potential cost and benefits to the UK economy of adopting the Euro.” it was a synoptic paper, 2003, and i am rather stumped on how to squeeze 60 marks out of it…any help would be hugely appreciated. Thankyou.

  15. How to solve Ci = 4.914 + 0.42Si + 2.44Di

    Where Ci = expected cost on the i th day, is assumed to be a linear function;
    Si = no. of products on the i th day and,

    Di = no. of products on the i th day.

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