What are some criticisms of IQ tests? Criticisms have ranged from the claim that IQ tests are unfair to those who are disadvantaged, to the claim that the test items have changed little over the years, to the charge that IQ tests minimize the importance of creativity, practical intelligence, character, virtue, and morality, to the […]
Why do transportation costs decrease as the number of warehouses in a system increases?
Why do transportation costs decrease as the number of warehouses in a system increases? As the number of warehouses in a system increase, there is a decrease in the cost of transport. The general reason is that there are economies of scale. This reduces transportation costs. Moreover, when goods are shipped to the warehouses, one […]
What does an economist need?
What does an economist need? A master’s degree or Ph. D. is required for most economist jobs. Positions in business, research, or international organizations often require a combination of graduate education and work experience. In addition, courses that introduce students to statistical analysis software are helpful. What would an economist most likely classify as a […]
What are the main functions of the central bank?
What are the main functions of the central bank? The functions of a central bank can be discussed as follows: Currency regulator or bank of issue. Bank to the government. Custodian of Cash reserves. Custodian of International currency. Lender of last resort. Clearing house for transfer and settlement. Controller of credit. Protecting depositors interests. What […]
What is the philosophy of legalism?
What is the philosophy of legalism? Legalism in ancient China was a philosophical belief that human beings are more inclined to do wrong than right because they are motivated entirely by self-interest and require strict laws to control their impulses. It was developed by the philosopher Han Feizi (l. c. 280 – 233 BCE) of […]
What groups benefit from inflation?
What groups benefit from inflation? Inflation means the value of money will fall and purchase relatively fewer goods than previously. In summary: Inflation will hurt those who keep cash savings and workers with fixed wages. Inflation will benefit those with large debts who, with rising prices, find it easier to pay back their debts. How […]
What is a locks?
What were the major transportation developments of the 19th century?
What were the major transportation developments of the 19th century? At the beginning of the century, U.S. citizens and immigrants to the country traveled primarily by horseback or on the rivers. After a while, crude roads were built and then canals. Before long the railroads crisscrossed the country moving people and goods with greater efficiency. […]
What did Caesar accomplish in his rise to power?
What did Caesar accomplish in his rise to power? Julius Caesar began his rise to power in 60 B.C.E. Caesar defeated Pompey’s forces and entered Rome in 46 B.C.E., triumphant and unchallenged. Upon his return, Caesar made himself dictator and absolute ruler of Rome and its territories. During his rule, he enacted several reforms. How […]