In 2008-2009, there were 39 fatal injuries from crimes involving firearms in England and Wales. In America, there were 12,000 fatal injuries from crime involving firearms. The population of America is six times bigger than England and Wales. There are many who say the solution to gun crime in the US, is to have more …
The ILO recently produced their growth and wages report for 2012/13. This suggested that across the developing world, labour markets are being characterised by falling real wages and a decline in labour’s share of national income. In particular: Real wage growth has been flat – even negative in the past few years. There is an …
In the lead up to the Euro debt crisis, there was a marked divergence in competitiveness within the Eurozone. In fact, some economists suggested that the currency imbalances were the root cause of the Eurozone fiscal crisis. (VOX article) However, recent evidence suggests some restoration of competitiveness within the Eurozone. We can examine competitiveness in …
Readers Question: Can you tell what Portugal has done to reduce the Current Account GDP deficit so steeply? The reduction in the Portuguese deficit is quite striking. In researching the answer to this question, I came up with a different post – The Portuguese Economic crisis From what I can gather, essentially, the rapid reduction …
Introduction – Recent UK economic performance The UK economy is currently growing at an annual rate of 1.6%, it has low inflation close to the governments target of 2.%. Unemployment has risen in the last 8 months but it is still low at 1.4 million (ILO Survey) compared to the last recession of 1992. The …
Suppose a monopolist sells in a market with a demand curve p = a – bQ where p is price, Q is output and a = 25 and b = 2. The monopolist needs to replace its existing plant and machinery and has two choices. The first option is to spend $40 and produce at …
Q. Discuss how the Government tries to prevent the abuse of Monopoly power in the UK? (30) Q. Discuss why the govt seeks to block some Mergers and not others Q. How do we define market share? e.g. competition from other countries, other products and new competition Q. Should we have a unitary competition …
Diminishing returns Diseconomies of scale Economies of scale Objectives of firms Efficiency Production Possibility Frontiers Diagram of costs Opportunity cost Profit Profit and revenue Profit maximisation Do firms maximise profit?