What do the aggregate supply and aggregate demand curves describe? Key points. Aggregate supply is the total quantity of output firms will produce and sell—in other words, the real GDP. The downward-sloping aggregate demand curve shows the relationship between the price level for outputs and the quantity of total spending in the economy. What is […]
Why is inequality important from an economic standpoint?
Why is inequality important from an economic standpoint? Inequality is necessary to encourage entrepreneurs to take risks and set up a new business. Without the prospect of substantial rewards, there would be little incentive to take risks and invest in new business opportunities. Fairness. It can be argued that people deserve to keep higher incomes […]
How do tax cuts affect the economy?
How do tax cuts affect the economy? In general, tax cuts boost the economy by putting more money into circulation. They also increase the deficit if they aren’t offset by spending cuts. As a result, tax cuts improve the economy in the short-term, but, if they lead to an increase in the federal debt, they […]
Does Switzerland have two capitals?
Does Switzerland have two capitals? As we mentioned, Switzerland technically has no capital city. The city of Bern is referred to as the country’s capital city for all intents and purposes. But, if you’re getting technical, it’s a federal city. Is Zurich the capital city of Switzerland? Zürich. Zürich, largest city of Switzerland and capital […]
What is an American public school?
What is an American public school? Public school education in the US is established by each state government and run through its own department of education. The structural segments of education are generally kindergarten through to grade 12. What exactly is public school? Wikipedia defines public schools as primary or secondary schools that are available […]
What is a general term for raw material or natural resources that can be bought and sold?
What did the Quebec Act do for the French?
What did the Quebec Act do for the French? Quebec Act, 1774, passed by the British Parliament to institute a permanent administration in Canada replacing the temporary government created at the time of the Proclamation of 1763. It gave the French Canadians complete religious freedom and restored the French form of civil law. Why was […]
Why do companies use third parties?
Why do companies use third parties? Third-party logistics providers can save companies the time they would normally spend carrying out the management of their supply chain. Also, thanks to 3rd party logistics companies and their technology, you save time on automated paperwork, fewer organizational errors, and time spent on arranging shipments. What is a third […]
Which mode of distribution affords the most control over the distribution channels but often at a cost that is not practical?
Which mode of distribution affords the most control over the distribution channels but often at a cost that is not practical? Which of the following modes of distribution affords the most control over the distribution channels but often at a cost that is not practical? Direct sales force. Most middlemen have little loyalty to their […]
Who is Newton Scott?
Who is Newton Scott? Fred Newton Scott (1860–1931) was an American writer, educator and rhetorician. Scott received his A.B., A.M, and Ph. D from the University of Michigan…. Fred Newton Scott Died May 29, 1930 (aged 69) San Diego, California Academic background Alma mater University of Michigan Academic work How many letters were written during […]