Archive for the ‘Notes’ Category
Explain Question: Reflection
Posted on: April 25, 2011
Hmm.. How would I explain this?
I was quite disappointed at my performance in answering this time’s explain question. One of the thing I have noticed is that I need to be careful when reading the question. Even one letter counts in this question type. For example, I have missed the “s” after diagram. Therefore, I concentrated on one diagram and not even bothered about the second diagram. Because of this, the maximum grade I could get became six. Other than that, it is important to define all terms and talk about the change in price level and real GDP.
Unemployment and Economic Freedom
Posted on: April 8, 2011
Neo-classical economists believe that economy should be let free of government intervention. They believe that government should not set labor unions, days of holidays, price floors, price ceilings, etc. Thus, they think that unemployment would be low in countries where economy if free. Is this true? Consider the data below:
(Data 1) Economic freedom and unemployment
According to this data, it seems that the neo-classical economists are quite reasonable. As government intervene more in the economy, the unemployment seems to rise. However, this is not the complete truth because of some fluctuation in the data.
References: Economic freedom rank, Unemployment
The Best Economies Around the World
Posted on: March 7, 2011
Out of Canada, Japan, Costa Rica, and Sweden, the top ranked economies by other presenters, I believe that Costa Rica is the best economy of the world. I think what really matters is life satisfaction. Of these four countries, Costa Rica ranked first. Also, Costa Rica is adequately good in every criteria in our powerpoint.
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