Is the United States a Market Economy or a Mixed Economy?

June 30, 2024 No Comments

A: The United States has a mixed economy. It works according to an economic system that features characteristics of both capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to intervene

Is there a correlation between inflation and house prices?

June 30, 2024 No Comments

A: There is a correlation between inflation and house prices. In fact, there are correlations between inflation and any good with a limited supply. To illustrate, consider an economy that has a money supply of only $10 and five identical houses in the whole economy. Each

Marginal propensity to Consume (MPC) Vs. Save (MPS)

June 30, 2024 No Comments

A: Historically, because people in the United States have shown a higher propensity to consume, this is likely the more important factor than the propensity to save. Consumer demand and consumption drive the U.S. economy. When consumers have a greater amount of extra income, they

Market operation and its effect on Money Supply

June 30, 2024 No Comments

A: The open market operations conducted by the Federal Reserve affect the money supply of an economy through the buying and selling of government securities. When the Federal Reserve purchases government securities on the open market, it increases the reserves of commercial banks and allows them

Is Colombia an emerging market economy?

June 30, 2024 No Comments

A: Colombia meets the criteria of an emerging market economy. The South American country has a much lower gross domestic product, or GDP, per capita than the United States and other developed countries. Its Human Development Index, or HDI, which measures a country’s quality of

Is demand or supply more important to the economy?

June 30, 2024 No Comments

A: Supply and demand are both key to economic activity. The two influence each other and impact prices of consumer goods and services within an economy. Supply is the amount of a particular good or service available at a given time to consumers. Consumers, expressing

Is economics a science?

June 30, 2024 No Comments

A: Economics is generally regarded as a social science, although some critics of the field argue that economics falls short of the definition of a science due to a number of reasons, including a lack of testable hypotheses, lack of consensus and inherent political overtones.

How much impact does government regulation have on the automotive sector?

June 30, 2024 No Comments

A: Government regulation in the automotive industry directly affects the way cars look, how their components are designed, the safety features that are included and the overall performance of any given vehicle. As a result, these regulations also have a significant effect on the automotive

Is gross national income (GNI) or gross domestic product (GDP) a better measure of the economic condition of a country with substantial foreign investment?

June 30, 2024 No Comments

A: While gross domestic product, or GDP is among the most popular of economic indicators, gross national income, or GNI, is quite possibly a better metric for the overall economic condition of a country whose economy includes substantial foreign investments. This is because the GNI

How much money does Michigan make from unclaimed property each year?

June 30, 2024 No Comments

A: According to the 2013-2014 Annual Report of the State Treasurer, the state of Michigan earned only $82,875 in abandoned and unclaimed property, which falls slightly below the annual average from 2009-2014 of $99,935. While Michigan state’s record of exactly how much revenue has been

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