Economic questions Essay Example for Free

Economic questions Essay 1. It has to do with game theory. In the prisoner’s dilemma, two suspects are taken by the police and each told separately that they can gain their freedom by testifying against each other. If neither testifies, they each will serve a six months sentence. If one testifies the other stays silent, the one will go free and the other will serve 10 yrs. If both testify then both will serve 5 yrs. The best thing is for both to be silent, but the more likely scenario is that each, fearful of a long sentence, bails on the other and nobody wins. In economics it is the investors hoping to ride the high flyers into the New Year; the best outcome is for nobody to sell. Most years, that is how it works and year end rallies leave everyone satisfied. 2. Economic theory. Through regulation is the best way market failure or externalities are dealt with when they are harmful to society. Externality is an economic side effect. They are the costs or benefits that come from economic activities that affect others than the individuals that re engaged in the economic activities. Some solutions are negative- taxes, positive-subsidy. 3. Sources of income in a capitalist economy would be their property rights that entitle them to earn a profit for the use of their capital as risk in some form of economic activity. They would be related through labor by human capital. The knowledge and skill acquired by labor through education and labor. 4. The rate is determined by a percentage of its turnover or sales. 5. Investment is something investors decide how much they will spend on new investment. Example: Producers have to decide whether to replace used up or obsolete machinery, whether to expand production these costs will become an investment that in turn should make them money. There are four principal determinants of autonomous investment, the level of technology, rate of interest, expectation of future economic growth and the rate of capacity utilization. 6. With an equilibrium price. The price that equates quantity demanded to quality supplied. If any disturbance from that price occurs, excess demand or excess supply emerges to drive price back to equilibrium. 7. The classical view of how our economy behaves is this: If the economy were left on its own without the interference of government or the Fed. It would move towards an equilibrium rate of growth that would produce with only minor interruptions, full employment without inflation. This hands off rests upon two simple propositions about market, one that all markets are basically competitive and two, all prices are flexible upward and downward approaching equilibrium. Unemployment is only a temporary condition caused by wage rates climbing above the equilibrium rate. A shift in the extraction curves is the economy’s rate of unemployment and rate of inflation. 8. Supply-side economists emphasize the importance of reducing tax rates. They accept the Keynesian idea that lower tax rates will increase consumer demand, but they believe a more important consequence is the added incentive it provides suppliers. For example; lower corporate tax rates increase after tax profit, which induces suppliers to increase aggregate supply. Lower income tax rates encourage more people to work longer, adding as well to aggregate supply. 9. Savings automatically converts to investment; so that investment induced growth is dependent on saving. 10. The division of labor into specialized activities that allow individuals to be more productive. The idea that labor productivity is a function of the degree of labor specialization. 11. Upward sloping trend cutting through the cycle traces the economy’s output performance over the course of a business cycle, measured either from recession to recession or from prosperity to prosperity. The upward sloping character of the trend line signifies economic growth. 12. Every economy, whatever its level of national income, includes people earning different incomes. Knowing someone’s absolute income tells us little about that person’s income status. 13. Consumption spending is rooted in Status. High income people not only consume more goods and services than others, but also set consumption standards for everyone else. 14. Aggregate supply is the total supply of goods and services that all firms in the national economy are willing to offer at varying price levels. Aggregate demand is the total quantity demanded of these goods and services by households, firms, foreigners, and government at those varying price levels. Macroequilibrium is reach when aggregate supply equals aggregate demand. 15. Consumption spending has tended to be more stable than investment spending in the past. MPC can be counted on to remain pretty much unchanged. Autonomous consumption is hardly likely to change. Investment spending is considered volatile. Economists identify changes in aggregate expenditure as the key to understanding why national income changes. Changes in investment have highly magnified effects on national income. The income by which income changes as a result of a change in aggregate expenditure is called income multiplier. 16. The economy’s output or gross domestic product is the total value, measured in current market prices, of all final goods and services produced in the economy during a given year. 17. One solution is to combine wage and price controls with a Keynesian style job creating policy. Stabilization policy is one option. 18. Four principle factors contributing to a nations economic growth, the size of the labor force, the degree of labor specialization, or the division of labor, the size of its capital stock and the level of its technology. Savings automatically converts to investment; so that investment induced growth is dependent on savings. 19. Demand deposits are only half of a banks business. Loans are the other. The bank makes a profit only on the loans it provides, not on it deposits. Borrowers benefit from inflation where lenders, where as lenders lose money. 20. Through the circular flow model, how the economy’s resources, money, goods and services flow between households and firms through resource and product market. 21. Economies with negative balances on current account will find their exchange rate falling. And unless these rates are propped up by government intervention, they will fall to stem the currency outflows exist; the exchange rate will keep falling. Eventually the rate will reach the level appropriate to a zero balance on current account. It takes only time. He would think we were habitual borrows. 22. They are the â€Å"what is† and â€Å"what it should be† 23. Nothing because the infrastructure is what an economy’s ability for development depends upon. Such as with education to educate people involves not only the task of acquiring compliance but the funds needed to build the school and staff them.

R.C. Sherriffs Journeys End :: Sherriff Journeys End Essays

R.C. Sherriff's "Journey's End" 'Journey's End' was written in 1928, ten years after the end of the First World War. The author, R. C. Sherriff, was injured during action in World War 1 and therefore got a ticket home. Sherriff was trying to raise money for a new boat club and so decided to write this play and perform it. The other club members refused to act out this play because it was too like the World War. There had been a tendency for men returning from the front not to discuss their experiences as they were too horrific and they did not wish their womenfolk to know the truth. So Sherriff went to the 'Incorporated Stage Society'. They agreed, after a while of asking, to have one Sunday performance at the Savoy Theatre in London. They were to judge the play and see if it was successful. It was very successful and then ran for another 600 shows. Sherriff then became a full time writer and died in November 1975. After 'Journey's End', many other books and plays were written and performed about World War 1, but Journey's End had been the first. In the play Sherriff uses many ways to portray the horrors of war and because it is set in a dugout the audience is brought right to the front line for the entire play. The conditions are conveyed in great detail and they are introduced at the very beginning of the play with Hardy trying to dry his sock out over a candle in a dugout. Sometimes the men could not get dry for days and the condition known as trench foot took its name from an infection of the feet resulting from being constantly wet. Lice affected the soldiers very badly in the trenches. The soldiers were on duty at the front for six days and then got time off to rest and be de-loused. The lice would be everywhere and even if the soldiers were clean they would be re-infested very quickly. Stanhope said the dugout 'reeked of candle-grease, and rats - and whisky' and like 'cess-pits'. During the play it was said by Hardy that there probably is over two million rats in and around No man's land. Hardy advised Osbourne not to sleep with his legs hanging too low 'or the rats gnaw your boots'. During the six days at the front the soldiers very rarely took their uniform off, not even for bed, except their shoes and wet items of clothing. They slept on beds sometimes with no bottoms, in the dugouts. They were bunk beds and had a frame and a few cross bars.

Cultural and Linguistic Differences in African and Puerto Rican Studies Essay

Academic failure in the United States is common among African-American and Latino. Cultural diversity and linguistic differences are among the causes. In order to solve this, teachers must be knowledgeable about the effect of culture on the behavior, learning styles, and preferred teaching styles of the students in a multicultural classroom and use the differences for growth and development of the students. In multicultural classrooms, teachers must be aware of the needs of their students inside or outside of class. A teacher should not make inappropriate assumptions or judgment as the students may get estranged from one another and to the teacher. Students who grew up in different learning system respond and treat teachers differently and to avoid cultural clash and miscommunication, the teacher should be open to the students. Language difference is also an important issue that should be addressed. Teachers must not assume all the time that a â€Å"Latino-looking† student knows Latino culture. Bringing up a Latino culture in class can also be embarrassing. It should not also be assumed that there are culture hierarchies as written in many textbooks such that Caucasian culture is somehow superior to other cultures (Fish 2008). African-American students, like the Latinos, have a high record of academic failure due to teachers’ differential attitudes towards African-Americans and diverse cultural ineptness. Every seven seconds of a school day, one African-American gets suspended; while in every forty-nine seconds, one African-American student drops out of school. In order to develop the education of African-Americans, education programs should improve the knowledge of teachers and administrators about the African-American culture, its impact on behavior and learning styles of the students. It is important to avoid biases because it may affect the interaction of the teacher towards the students. A teacher must be able to recognize cultural differences among students and treat it with respect; intervene when a Black student’s culture or language is being ridiculed; recognize their biases and experiences; do not allow students to segregate by culture, develop student’s appreciation to other culture; demand a single level of excellence to all students; do not judge students based on previous mistakes and accept that there are also language differences among Blacks (Keller 2005). The educational conditions of Latinos, like African-Americans, should be addressed. The number of Latinos who finished secondary education is way behind the White population. In 2003, only 48. 7% of Mexicans, 51. 7% of Dominican-origin, 63. 3% Puerto Ricans, and 68. 7% of Cubans have finished high school among 25 years and older. Among White students, the rate of high school completion is 84%. The statistics results are attributed to the historical educational condition of the Latinos in the United States where there is a continuous struggle in preserving the Latino culture and the Spanish language in the face of ‘Americanization’. Their education has been attached to the word ‘immigrant’ even though the majority of Latinos are born in the United States (Velez 2008). The number of Latino students has increased in from 6% in 1973 to 12% in 1993. Their performance in elementary and secondary education is significantly lower than the Anglo students. In reading at age 13 years, Latinos are two years below the Anglos; while in science, a 13-year-old Latino is equivalent to a 9-year-old Anglo. In 1991, the dropout rate of Latino students age 16-24 was very high with approximately 35. 3% compared to 13. 6% of African-American and 8. 9% of Anglo students. The dropout rate of Latino students was 2 ? times higher than the African-American students even though they have similar academic performance and socioeconomic status. This trend was observed since the 1980s especially among Latinos born outside the country. The dropout rate however of U. S. -born Latinos (24%) was more than twice higher than African-Americans. The major causes of low academic performance are low socioeconomic status and language. Many Latino children came from poor families whose parents are likely to have limited education and have difficulty in comprehending with English language. Students with limited English proficiency perform lower than those with full English proficiency. Among the 2. 3 million students with limited English proficiency, 75% are Spanish-speaking (Slavin and Calderon 2000). The problem of choosing the right language for instruction cannot be solved through bilingual programs and English immersion programs which abruptly shift to English-only instruction. However, Spanish-speaking students with limited English proficiency taught to transition to English from reading Spanish become better readers than students who are taught to read in English only. The focus of bilingual programs should be the quality of instruction in Spanish. If students fail in Spanish, they won’t succeed in English; but, according from research, students who are successful in Spanish will be successful in English as well (Slavin and Calderon 2000). The academic slowdown of the Latinos due to inappropriate teaching methods is not acknowledged by many educators. They believed that the educational methods they are employing are enough and the problem relies on the students, students who do not go to school regularly and students who have ‘special’ needs. The advanced academic strategies are not efficient if the educators will continue to perceive that students from different race with different language are ‘disadvantaged’ and ‘culturally inferior’. The model ‘social pathology’ or cultural deprivation is used to identify the academic failure of the Latinos, but it is inefficient and deficient-based. The same model has branded Latino students as ‘mentally retarded’, ‘linguistically handicapped’, ‘culturally and linguistically deprived’, ‘semi-lingual’, and ‘at risk’. Unfortunately, this model has influenced the educators and bilingual teachers to prefer Anglo students and lighter-skinned Latino students, and perceived working-class parents negatively than middle-class parents (Trueba and Bartolome 1997). There are researches which offer alternative models to explain the academic failure of the Latinos and other minority students still classify these students as in need of ‘specialized’ modes of instruction. However, these alternative models are still inefficient for the Latinos. The teachers’ mastery of promising instructional programs for culturally and linguistically different students is not a solution. Educators must consider a critical assessment of learning environments in political contexts and not rely on invalid assumptions (Trueba and Bartolome 1997). Puerto Ricans, just like the other Latinos, have experienced many problems in U. S. schools; but these problems are identified based from their backgrounds, culture family, language, and social class. In 1935, Puerto Rican students were classified as ‘slow learners’ according from the report from the New York City Chamber of Commerce. The results were based from the intelligences tests administered to 240 Puerto Rican children. Latino communities including Vito Marcantonio, an Italian-American politician, were dismayed by the discriminating result. Marcantonio argued that the tests did not recognized other considerable factors such as social, economic, linguistic, and environmental factors faced by the Puerto Rican children. The movement towards promoting the Puerto Ricans was continuous and slow-paced. Several researches were made addressing the educational issues of Puerto Ricans such as The Puerto Rican Study, The First Citywide Conference of the Puerto Rican, and The Losers. The status of Puerto Rican students was given more emphasis. It was found that there was a high rate of dropout. Low attendance rates, and poor academic achievement. The teachers and administrators were discovered to be uniformed unsympathetic to the situation of Puerto Rican students (Nieto 2000). Although there is continuous struggle in changing the curriculum for the Puerto Ricans, the educational system and teaching methods have not adjusted. In an ethnographic research by Eugene Bucchioni, there were still ‘assimilationist pressures’ in the teaching methods and curriculum content. There was a continuous discrimination to Spanish-speaking students and to a definition of nutritious diet where there were no Puerto Rican foods included (Nieto 2000). In the research The Puerto Rican Study, significant recommendations were listed in order to meet the needs of Puerto Rican children such as formulation of policy for the assessment of non-English speaking students; recognize English as a second language only; invest on improving instructional programs for non-English speaking pupils; and others. One of the best solutions for academic failure of Latino students (Cordasco 1978). On of the best programs for Latino students and other minority students is perhaps to reform the entire school, including the curriculum, instruction, and evaluation. A curriculum by Slavin and Calderon (2000), Success for All, integrates innovative curricula and instructional methods in reading, writing, and language arts for elementary education. There is one-to-one tutoring for students with reading difficulties, family support services, assessment program for students’ progress, instructional strategies appropriate for Spanish language and Latino culture, use of Spanish novels, cooperative learning activities to help transition from English to Spanish reading, and others (Slavin and Calderon 2000). Nowadays, maintaining a multicultural classroom is an increasing priority for educators which involves restructuring the classroom evaluation and punishment techniques and opening up for cultural differences (Fish 2008). The population of Latinos in the United States is increasing and their needs should be addresses. The educational success of Latinos together with African-Americans is significant on the country’s economy and technological future because of the large population. The strengths of these populations can be the strength of the country as well (Trueba and Bartolome 1997). Works Cited Cordasco, F. (1978). Bilingual Education in New York City: A Compendium of Reports, Ayer Publishing. Retrieved 13 may, 2008, from http://books. google. com/books? id=cyJxZ76vxM4C&hl=tl Fish, L. (2008). â€Å"Building Blocks: The First Steps of Creating a Multicultural Classroom. † Retrieved 13 may, 2008, from http://www. edchange. org/multicultural/papers/buildingblocks. html. Keller, E. (2005). â€Å"Strategies for Teaching Science to African American Students. † Retrieved 13 May, 2008, from http://www. as. wvu. edu/~equity/african. html#sect1. Nieto, S. (2000). Puerto Rican Students in U. S. Schools, Lawrence Erlabaum Associates. Retrieved 13 may, 2008, from http://books. google. com. ph/books? id=ZoSpQQ-sevAC Slavin, R. E. and M. Calderon (2000). Effective Programs for Latino Students, Lawrence Erlabum Associates. Retrieved 13 may, 2008, http://books. google. com/books? id=tEnSx4o_NXsC&hl=tl Trueba, E. T. and L. I. Bartolome. (1997). â€Å"The Education of Latino Students: Is School Reform Enough? † Retrieved 13 May, 2008, from http://www. ericdigests. org/1998 1/latino. htm. Velez, W. (2008). â€Å"The Educational Experiences of Latinos in the United States. † Retrieved 13 May, 2008, from http://www. springerlink. com/content/h8632636146060t3/.

Native Americans vs. European Colonists Essay - 2172 Words

The European colonists and the Native Americans of North America had very different views on nearly everything they encountered in their lives. Living in vastly different cultures lead both groups to have two extremely different outlooks on four main topics; religious beliefs, the environment, social relations, and slavery, differences which the colonists used to their advantage when conquering the peoples of the New World. The colonists, by saying that the Native Americans were primitive and savage because of their differing and seemingly illogical attitudes, were able to do things that they could never have done to people they believed to be equals. Whether this was a conscious or subconscious method on the part of the†¦show more content†¦Religion was a fervently discussed topic; people were looked down upon and often killed for the wrong religious affiliation. It makes sense that these first colonists and the many that came after would deem the Native American religions as an inferior, crude religion that was inherently â€Å"wrong† by their own religious standards. Most colonists that came in the early 1600’s were Christians, a religion that has very specific rules and rigid regulations that must be followed to be a â€Å"saved† person destined for a paradisiacal after life. Within these restrictions were the directions to â€Å"Go ye into all the world, and preach the gospel to every creature† (Mark 16:15). It seems clear that from the first the Christian religion was telling the colonists to â€Å"help† the natives by making them conform to the culture of the colonists and destroying their own. This was always done with a sense of Native American natural inferiority. In most cases, the Native Americans were not told the entire nature of their conversion. A Jesuit described the tactics used in converting Native Americans, â€Å"The outward splendor with which we endeavor to surround the Ceremonies of the Church†¦with a magnificence surpassing anything that the eyes of our savages have ever beheld – all these things produce an impression on their minds† (Le pays reneverse by denys delage 168). For those truly religious souls, coming to the New World meant a chance to bring salvation and Christianity to newShow MoreRelatedNative Americans And The American Indians1196 Words   |  5 PagesThe American Indians have lived in the United States since the beginning of this nation. Divided in small groups called tribes, they lived in harmony. With a great sense of spirituality, the Native Americans worshiped nature, the moon, sun, rain, earth, etc. Without exploitation, they learned how to use the natural resources to survive, having as their principal occupation hunting, fishing, and farming. 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