Contents contributed and discussions participated by matteaechl f09 - IB Econ HL Section B

UK trade deficit hits new record - 0 views

www.guardian.co.uk/...-trade-deficit-hits-new-record

comparitive advantage

shared by matteaechl f09 on 30 Sep 10 - No Cached

matteaechl f09 on 30 Sep 10

This article is about the UK's record high trade deficit. This means that it imports more goods and services than it exports. This is because it does not hold a comparitive advantage in any production; it is cheaper to import, and have someone else produce a good, than it is to keep production at home.

<div class="cArrow"> </div><div class="cContentInner">This article is about the UK's record high trade deficit. This means that it imports more goods and services than it exports. This is because it does not hold a comparitive advantage in any production; it is cheaper to import, and have someone else produce a good, than it is to keep production at home.</div>

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Romania to cut pensions and wages - 0 views

news.bbc.co.uk/...10101468.stm

welfare payments

shared by matteaechl f09 on 09 May 10 - Cached

matteaechl f09 on 09 May 10

This article is about Romania's intentions to cut public sector wages and pensions as a part of an IMF-led rescue plan. These pensions are a form of welfare payments.

<div class="cArrow"> </div><div class="cContentInner">This article is about Romania's intentions to cut public sector wages and pensions as a part of an IMF-led rescue plan. These pensions are a form of welfare payments.</div>

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Sharp tax rises needed to cut deficit says think tank - 0 views

news.bbc.co.uk/...10092145.stm

income tax

shared by matteaechl f09 on 01 May 10 - Cached

matteaechl f09 on 01 May 10

This article is about the need for higher tax rates to cut government deficit. The tax hike needed would be the equivalent of raising the basic rate of income tax from 20p to 26p on the pound. Tax rises do not all necessarily need to come in the form of income tax, but this is the amount needed.

<div class="cArrow"> </div><div class="cContentInner">This article is about the need for higher tax rates to cut government deficit. The tax hike needed would be the equivalent of raising the basic rate of income tax from 20p to 26p on the pound. Tax rises do not all necessarily need to come in the form of income tax, but this is the amount needed.</div>

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Greece Calls on EU-IMF Rescue Loans - 0 views

news.bbc.co.uk/...8639440.stm

stimulus

shared by matteaechl f09 on 23 Apr 10 - Cached

matteaechl f09 on 23 Apr 10

This article is about how Greece has formally asked for a rescue package for its heavily indebted economy. This should help reduce Greece's debt, which will in turn reduce interest rates. This will increase consumer spending and stimulate aggregate demand.

<div class="cArrow"> </div><div class="cContentInner">This article is about how Greece has formally asked for a rescue package for its heavily indebted economy. This should help reduce Greece's debt, which will in turn reduce interest rates. This will increase consumer spending and stimulate aggregate demand.</div>

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Sale of state's share in Edelnor could raise US$875mn - 0 views

www.bnamericas.com/..._Edelnor_could_raise_US*875mn1

privatization

shared by matteaechl f09 on 14 Apr 10 - Cached

matteaechl f09 on 14 Apr 10

There is much speculation in Chile that the state copper company, Codelco, may sell its 40% share in the Edelnor generation JV. This could raise US$875 million. While not an actual privitization of a company, this represents a switch from government to private control.

<div class="cArrow"> </div><div class="cContentInner">There is much speculation in Chile that the state copper company, Codelco, may sell its 40% share in the Edelnor generation JV. This could raise US$875 million. While not an actual privitization of a company, this represents a switch from government to private control.</div>

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Softwood lumber tax slashed by one-third: 'That's a very big deal' - 0 views

www.vancouversun.com/...story.html

business tax

shared by matteaechl f09 on 11 Apr 10 - Cached

matteaechl f09 on 11 Apr 10

This is article is about how Canadian sawmillers will not have to pay as many taxes now due to an increase in lumber prices. The sawmillers had to pay a sliding rate export tax inder a 2006 US-Canadian agreement. The rate of this business tax is now reduces 5%.

<div class="cArrow"> </div><div class="cContentInner">This is article is about how Canadian sawmillers will not have to pay as many taxes now due to an increase in lumber prices. The sawmillers had to pay a sliding rate export tax inder a 2006 US-Canadian agreement. The rate of this business tax is now reduces 5%.</div>

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Bank survey shows customers happy - 0 views

news.bbc.co.uk/...8597334.stm

interest rates

shared by matteaechl f09 on 05 Apr 10 - Cached

matteaechl f09 on 05 Apr 10

This article is about how bank customers in the UK are satisfied with the bank accounts. This shows that either they are happy with their current interest rates, or that they know they won't be able to get a higher rate on their deposit.

<div class="cArrow"> </div><div class="cContentInner">This article is about how bank customers in the UK are satisfied with the bank accounts. This shows that either they are happy with their current interest rates, or that they know they won't be able to get a higher rate on their deposit.</div>

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February wholesale prices drop .6% - 0 views

www.washingtonpost.com/...AR2010031700730.html

deflation

shared by matteaechl f09 on 17 Mar 10 - Cached

matteaechl f09 on 17 Mar 10

This article is about the drop in prices at the wholesale level in the month of February. This drop, about 0.6%, is the largest in seven months. This represents deflation, as it is a drop in prices.

<div class="cArrow"> </div><div class="cContentInner">This article is about the drop in prices at the wholesale level in the month of February. This drop, about 0.6%, is the largest in seven months. This represents deflation, as it is a drop in prices.</div>

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Obama pushes to double US exports - 2 views

www.washingtonpost.com/...AR2010031100739.html

unemployment

shared by matteaechl f09 on 11 Mar 10 - Cached

matteaechl f09 on 11 Mar 10

This article centers around President Obama's attempt to reduce unemployment and create jobs through encouraging exports. As American products find new overseas markets, aggregate demand will increase. Firms will then increase their demand for labor, reducing unemployment.

<div class="cArrow"> </div><div class="cContentInner">This article centers around President Obama's attempt to reduce unemployment and create jobs through encouraging exports. As American products find new overseas markets, aggregate demand will increase. Firms will then increase their demand for labor, reducing unemployment.</div>

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Global trade slumped 12% last year - 0 views

www.guardian.co.uk/...global-trade-slumps

recession

shared by matteaechl f09 on 03 Mar 10 - Cached

matteaechl f09 on 03 Mar 10

This article is about the decrease in world trade. As the world has just emerged from a recession, and many countries are still experiencing economic difficulties, aggregate demand is down. This means that people are buying less exports, decreasing world trade--all as a result of the recession.

<div class="cArrow"> </div><div class="cContentInner">This article is about the decrease in world trade. As the world has just emerged from a recession, and many countries are still experiencing economic difficulties, aggregate demand is down. This means that people are buying less exports, decreasing world trade--all as a result of the recession.</div>

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Plan to Seek Use of U.S. Contracts as a Wage Lever - 0 views

www.nytimes.com/...26procure.html

Keynesian

shared by matteaechl f09 on 26 Feb 10 - Cached

matteaechl f09 on 26 Feb 10

This article is about the Obama administration's plan to use the government's buying power to encourage companies to improve wages and benefits for workers. This is an attempt at economic expansion, which is only possible under a Keynesian view of economics.

<div class="cArrow"> </div><div class="cContentInner">This article is about the Obama administration's plan to use the government's buying power to encourage companies to improve wages and benefits for workers. This is an attempt at economic expansion, which is only possible under a Keynesian view of economics.</div>

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Prices Hike, Teachers Strike - 0 views

allafrica.com/...201002170976.html

development

shared by matteaechl f09 on 17 Feb 10 - Cached

matteaechl f09 on 17 Feb 10

This article is about teachers in Chad going on strike because their pay does not cover high food prices and other costs of living. This high cost of living, which many people cannot afford, means that people's lives are not improving. This shows a lack of economic development.

<div class="cArrow"> </div><div class="cContentInner">This article is about teachers in Chad going on strike because their pay does not cover high food prices and other costs of living. This high cost of living, which many people cannot afford, means that people's lives are not improving. This shows a lack of economic development.</div>

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China Moves to Curb Inflation by Tightening Credit - 0 views

www.nytimes.com/...13yuan.html

macroeconomic goals

shared by matteaechl f09 on 12 Feb 10 - Cached

matteaechl f09 on 12 Feb 10

This article is about the macroeconomic goal of maintaining stable price levels. Inflation is where there is so much money that it lessens in value. China is currently experiencing this. They are attempting to combat it and stabilize price levels by lessening the availability of credit. If less loans are available, then less money will be spent, and money will retain its value.

<div class="cArrow"> </div><div class="cContentInner">This article is about the macroeconomic goal of maintaining stable price levels. Inflation is where there is so much money that it lessens in value. China is currently experiencing this. They are attempting to combat it and stabilize price levels by lessening the availability of credit. If less loans are available, then less money will be spent, and money will retain its value.</div>

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Madagascar: What Will You Do When the Trees Are Gone? - 3 views

allafrica.com/...201002031074.html

market failure

shared by matteaechl f09 on 03 Feb 10 - Cached

matteaechl f09 on 03 Feb 10

This article is about the illegally exported wood from Madagascar. This represents a market failure, as the depletion of the wood is an environmental concern. The less trees there are, the less habitats there are, and biodiversity will decrease.

<div class="cArrow"> </div><div class="cContentInner">This article is about the illegally exported wood from Madagascar. This represents a market failure, as the depletion of the wood is an environmental concern. The less trees there are, the less habitats there are, and biodiversity will decrease.</div>

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Govt approves US$33mn for Viracopos airport expansion - 0 views

www.bnamericas.com/...or_Viracopos_airport_expansion

public goods

shared by matteaechl f09 on 29 Jan 10 - Cached

matteaechl f09 on 29 Jan 10

The government of Brazil has approved 61mn reals for the expansion of an airport. This expansion should reduce overcrowding in other airports. Because it is provided by the government, it is a public good. Because it reduces travel time, it creates a positive externality.

<div class="cArrow"> </div><div class="cContentInner">The government of Brazil has approved 61mn reals for the expansion of an airport. This expansion should reduce overcrowding in other airports. Because it is provided by the government, it is a public good. Because it reduces travel time, it creates a positive externality.</div>

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Sellafield returns nuclear waste to Japan - 0 views

news.bbc.co.uk/...8469249.stm

negative externality

shared by matteaechl f09 on 24 Jan 10 - Cached

matteaechl f09 on 24 Jan 10

This article is about nuclear waste, a byproduct of nuclear fuel. This nuclear waste can be dangerous. As a form of pollution, it is a negative externality. The waste must be dealt with properly, or it can cause harm to society in the form of negative health effects.

<div class="cArrow"> </div><div class="cContentInner">This article is about nuclear waste, a byproduct of nuclear fuel. This nuclear waste can be dangerous. As a form of pollution, it is a negative externality. The waste must be dealt with properly, or it can cause harm to society in the form of negative health effects.</div>

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Shaw talked with Aspers about investing in Canwest - 0 views

www.vancouversun.com/...story.html

oligopoly

shared by matteaechl f09 on 14 Jan 10 - Cached

matteaechl f09 on 14 Jan 10

This article is about a company, Shaw Communications, considering investing in another company, Canwest. By investing in this company, Shaw will engage in competitive behavior by gaining some control over another company.

<div class="cArrow"> </div><div class="cContentInner">This article is about a company, Shaw Communications, considering investing in another company, Canwest. By investing in this company, Shaw will engage in competitive behavior by gaining some control over another company.</div>

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Google introduces Nexus One, its rival to the iPhone - 0 views

www.nytimes.com/...06google.html

non-price competition

shared by matteaechl f09 on 06 Jan 10 - Cached

matteaechl f09 on 06 Jan 10

This article is about Google introducing a new smartphone. It is intended to compete with the Apple iPhone. This is non-price competition because it is centered around product differentiation rather than prices. Google's aim is to compete by offering a different product rather than lower prices.

<div class="cArrow"> </div><div class="cContentInner">This article is about Google introducing a new smartphone. It is intended to compete with the Apple iPhone. This is non-price competition because it is centered around product differentiation rather than prices. Google's aim is to compete by offering a different product rather than lower prices.</div>

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Towns ring in cheer, sales - 0 views

www.floridatoday.com/...Towns+ring+in+cheer++sales

price discrimination

shared by matteaechl f09 on 12 Dec 09 - Cached

matteaechl f09 on 12 Dec 09

This article is about holiday shopping in local stores. Many stores offer sales during the holiday seasons. This is a form of price discrimination, as it is different prices charged for the same product based on time of year.

<div class="cArrow"> </div><div class="cContentInner">This article is about holiday shopping in local stores. Many stores offer sales during the holiday seasons. This is a form of price discrimination, as it is different prices charged for the same product based on time of year.</div>

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40 Fired at Chiadzwa - 0 views

allafrica.com/...200912020002.html

natural monopoly

shared by matteaechl f09 on 02 Dec 09 - Cached

matteaechl f09 on 02 Dec 09

This article is about a mining company in Zimbabwe. Since the company is licensed by the government to mine there while other countries aren't, they have a natural monopoly.

<div class="cArrow"> </div><div class="cContentInner">This article is about a mining company in Zimbabwe. Since the company is licensed by the government to mine there while other countries aren't, they have a natural monopoly.</div>

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