you can talk about the other points but you have to make sure you can relate unemployment/inflation/whatever to "economic development or income and wealth"
the plan is that the proposed reforms will further deregulate the labour market, improving productivity and (according to the ads) promote employment.
Maybe check with the workchoice website
I think one reason is that as inflation increases, exports will be less competitive and imports more attractive, thus leading to a current account deficit and therefore restricting economic growth.
It may not be the main reason though...
BoP = CA + C&FA + omissions and errors
k = 1 / MPS
Economic Growth = (Real GDP - Real GDP previous year) / Real GDP previous year x 100
Real GDP = nomial GDP / CPI x 100
AD = Y = C+I+G+X-M
Participation Rate = Labour Force / Working age population (15+) x 100
unemployment rate...
1. economies of scale, comparative advantage
2. argh, just did this in another thread. globalisation limits govt regulation as govts try to keep investors happy (in a nutshell)
4. most of the products are made and sold to 1st world countries, the poorer nations gets very little of the...
good answer.
negative impacts of globalisation?
- external instability
- environmental exploits by the poorer countries in order to get $$
- unemployment in the short-term due to increasing access to domestic markets from more efficient importers
- widening gap btn the wealthier and...
Discuss the impact and effect of an increased high CAD on an economy and outline methods to improve the CAD.
- Increases foreign liability - need to finance, debt trap scenario
- increased volatility for exchange rates
- constraints on future economic growth - high e. g. leads to an...
Q. Outline the costs and benefits of a shift towards a decentralised wage system.
A:
costs: short-term (structural) unemployment, income inequality
benefits: productivity, reduced inflation
In relation to the environment, as the price mechanism does not take into account the social implications of production. It also occurs because the price mechanism does not take account of any depletion of resources that will affect the economy's ability to grow in the future.
Q: Define...