Econimic Research :: essays papers

Econimic Research1. During the 1960s, The Soviet economy may take a crap been growing at a put of developing much double-quick that the West, but the Soviet gross domestic product would have provided a poor statistic for determine the welfare of the soviet people for several reasons. The first reason that GDP would be obsolete for determining the welfare of the people is that during the 1960s, the Soviet union was in fact Communist, so the people were only allotted whatsoever property or privilege the government would allow, so there was no free market on which goods could be bought and sold by anyone. It is likewise of interest to know that during the 1960s and early 70s, the USSR did lead the world in a few industries(forestry, mining), but with such a larger labor labour than the US, the GDP per capita would, all other things being equal (ceteris paribus), show that growth could have occurred solely due to larger population. 2. If the Instructor were to choose a glacial rate, he would hope that inflation would increase, so that he would be paying back money that has a lower purchasing berth than the original principal amount the instructor would have financed, (just as in the scenario He had given about his Father in Maryland, and his owe held with the forbidding bank who detests the fact that your Father has a fixed rate mortgage and pays around $300 a month). If our Instructor chose the adjustable rate, the instructor would withdraw that inflation would decrease, and would also hope that interest rates would decrease as well. Since Alan Greenspan is somewhat unpredictable, I would advise the instructor to refinance for a fixed rate once interest rates take a modus operandi for the better, so that it would be locked in at the lowest going rate available. 3. Changes in Production by Black Death(Bubonic Plague) in Medieval generation Land LandLabor(pre-Plague) Labor(post-Plague) B. Wages for the workers would increase due to the decrease in labor pools caused by death. C. The survive workers benefited from this disaster due to the increase in wages available due to the untimely death of so many. The cockeyed landowners would have been overall harmed by the loss in manual labor, which caused slight productivity and yet higher wages could be demanded by the surviving workers out of necessity for needed labor, while the rental(capital) rate of the land diminish according to the isoquant.