Why may inflation have a negative impact on students? Teachers would be laid off. Typically, students work for modest pay. Many students would lose their jobs as a result of this.
Quizlet: How might a minimum wage regulation affect worker supply and demand?
What effect would a minimum wage law have on labor supply and demand? It could lead to a supply shortage. It could lead to a supply shortfall. Workers’ wages may suffer as a result.
In what circumstances might GDP (gross domestic product) not be a reliable estimate of a country’s economic health?
In what circumstances might GDP (gross domestic product) not be a reliable indicator of a country’s economic health? The country has been hit by a natural calamity and is in need of financial assistance from abroad.
In the unexpected increase in real interest rates quizlet, who comes out on top?
Who benefits from the unexpected rise in real interest rates? A 30-year fixed-rate mortgage is given to a borrower. Vertical aggregate supply curve in the long run.
What effect does supply and demand have on prices?
When demand is constant, the supply and prices of products and services have an inverse relationship. Prices tend to decrease to a lower equilibrium price and a greater equilibrium quantity of goods and services when supply for goods and services increases while demand remains constant. Prices tend to rise to a higher equilibrium price and a lesser quantity of goods and services when supply of goods and services falls while demand remains constant.
Which is a primary reason why GDP isn’t a reliable indicator of societal prosperity?
GDP is a rough indicator of a society’s standard of living because it does not account for leisure, environmental quality, levels of health and education, activities undertaken outside the market, changes in income disparity, improvements in diversity, increases in technology, or the cost of living.
What impact does GDP have on the Philippine economy?
The Philippines’ Gross Domestic Product (GDP) climbed by 6.3 percent in the fourth quarter of 2015. The gross domestic product (GDP) is a measure of a country’s entire economic output and performance. It represents the entire market value of all commodities and services produced by the economy at a given point in time. A healthy economy means more investments and greater employment rates; a healthier economy means more investments and higher employment rates.
The Philippines has had a good run in terms of GDP since 2010, with an average growth rate of 6.3 percent from 2010 to 2014.
A yearly GDP growth rate of 2.5-3.5 percent is ideal for increasing job creation and company profitability. For emerging countries like the Philippines, a significant deviation from the average growth rate aids in the economy’s progress and stabilization.
*From the Budget of Expenditures and Financing Sources for different years (20072014).
What are some of the elements that influence the Gross Domestic Product GDP per person of a country?
Literacy rate, natural resources, physical capital, and living standards are all factors to consider. describe how changes in a specific element will affect a country’s GDP. Analyze economic data to determine which type of resource it pertains to.
Who suffers from unexpected inflation?
Unexpected inflation hurts lenders since the money they are paid back has less purchasing power than the money they lent out. Unexpected inflation benefits borrowers since the money they repay is worth less than the money they borrowed.