Readers Questions III

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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By on April 28th, 2008

234 thoughts on “Readers Questions III

  1. Hello, In unit 5b economic development, it is said that free market forces influence economic growth of a developing country.
    Can you please tell me what do free market forces refer to?
    Are they : trade liberalisation, privatisation, deregulation, reduced restrictions on capital flows?
    Also, if a country adopts protectionism, i.e reducing imports, will they wont export ?
    Thank you so much.

  2. What economic policies have the German government put in place in order to combat the currect economic problems?

    thank you very much

  3. evaluate the likely effectiveness of two policies that german government could introduce to increase labour market flexibily

  4. Hi

    Could you help me with the edexcel unit 6.Do you have, or can you provide a brief overview of the UK economy over the last 10 years, perhaps up to the current crisis. I am interested in basic data (gdp, unemployment, current account, government deficit etc) as well as any significant demand side & supply side changes. You’d think this would be out there somewhere, but I can’t find it anywhere in a simple format!

    Thanks very much.

    Nick

  5. Hello,

    I have the following question that i am confused as to how to go about answering.

    1) Impact of persistent national Debt on UK economic growth

    2) How price elasticity of demand helps UK firms devise their pricing during current economic downturn

    3)What is Efficient Market Hypothesis? Discuss with evidence, the efficiency of capital markets & why market efficiency is important for stock market listed companies

  6. Hi

    I would be very grateful if you could advise if PPP is an appropriate measure of how much a certain salary in a country is worth compared to another country.

    For example, the average salary in the UK is GBP 24,908. The average salary in the US is USD 45,113.

    If the PPP is 1.55 between USD and GBP, is it fair to say the USD 45,113 salary is worth GBP 29,105. Thus, the average salary in the US is worth GBP 4,197 more than the average UK salary (of GBP 24,908).

    If not, please could you advise of the correct measure.

    Thank you for your time and advice with this. It is much appreciated

    Paul

  7. iam very satisfied with what you have done to economics students but i will like you to anwer my question which is;critically examine the effects of an increase in the money supply in any economy.

  8. person loves race car driving so much he is going to the Indianpolis 500. He said he loves it so much the cost is feels like nothing. He leaves from NC, stays 5 days, 4 nights and goes to the races. Using marginal cost(MC) and marginal benefit(MB)describe whether his statement could be true.

    I know MC is additional unit of output is the cost of the additional inputs needed to produce that output

    And MB is change in an activity’s overall benefit caused by a unit increase or decrease in the level of that activity

    costs are: gas, hotel expenses, and price of ticket, I don’t think food should be included b/c the person would still have to eat
    And benefits are enjoyingment

    also the if the person sees multiple races(i assume this b/c he would say 5 days) the tickets may vary and if the MB<MC the person should not buy the ticket

    im having trouble put together a clear answer can someone help me do that please!

  9. Hi, I want to know what to use (gdp at current or constant prices)when comparing the contribution of economic sectors of a country with each other. I know that when calculating growth rates it is necessary to use real/constant gdp. But if I want to look at which sector contributes the most, seocnd most etc. what do I use and why? Any references?

  10. Describe and discuss how you can positively influence the labour factor of production ?????
    This is a question i just cant understand. Please assist

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