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Jan d

End of gas rationing signals progress in New York City's Sandy recovery - 0 views

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    After Sandy hurricane devastated the Eastern Coast of the United States, gas became scarce. Due to this, authorities introduced so called odd-even gas rationing which limited the consumption the same as when governments introduce price ceilings and shift the demand curve to the last. With few major differences. Too many people needed fuel to power generators. Government gave subsidy to oil importers, so price slumped a bit (not significant) - so this was the maximum price. Simultaneously, also the demand grew bigger and there were only a few gas stations operating and those who were operating experienced inevitable chaos. So authorities shift the demand curve to the left until equilibrium is reached at maximum price to limit the consumption, so that queues were manageable. This rationing ends tomorrow as recovery is completed.
Annabelle b

Excise Tax Loses Support Amid White House Push - 0 views

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    Last month, the White House and labor unions announced an agreement to tax high-cost, employer-sponsored health insurance plans. Labor leaders say the proposal is too high a price to pay for the limited health care package they expect to emerge from Congress, therefore, there is really no support for this agreement.
Jan d

The Cypriot economy: Through a glass, darkly - 0 views

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    This article has no direct correlation to supply side of an economy, as it mainly talks about Cypriot economy's bank crisis - credit crunch, predictions on GDP and changing patterns of banking (limitations to every-day withdrawals from ATMs). But the reason I chose this article is that they should aim at increasing the production side of an economy and so aggregate supply, shifting the LRAS curve to the right, and, in addition to that, structural reforms of the economy which overly depends on the banking. Particularly, Cyprus should undertake interventionist supply side policies, such as investments in infrastructure - roads, railways, harbours, airports and telecommunications all serve to lower production costs of all economic agents in a country. Or perhaps investments in technology and industrial policies which would increase the productive capacity of an economy.
Liselotte r

Inflation unchanged for fourth month in a row - 0 views

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    This article is about the current inflation rate in Great Britain and its unchanging status in the past four years. Jeremy Cook, chief economist at the World First foreign exchange company said, "Home-grown price pressures are also increasing with transport, food and utilities boosting upwards in the latter part of 2012; this will continue to erode wage value through 2013, hurting consumer confidence and limiting spending."
David s

Prison Escape - 0 views

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    This is an example of scarcity in the Mexican government. It is scarcity of capital and of labor. The scarcity of capital is the limited quality security resources. The scarcity of labor is not just of people, but as well a scarcity of good people. Many prison guards are corrupt, and there aren't a lot of them. This is also a good example of what I'll call a gambling opportunity cost. The government decided to not invest enough in security with the gamble that there could be a prison break. It would have been a good gamble if there were no prison break, however, it turned for the worse. Not only, of course, did the prisoners escape, but now the government needs to pay the wages of all of the sudden security requirements. They most likely are having to pay as much for the mistake as they would have had to pay to do it right the first time.
Sebastian a

Money scarcity - 0 views

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    I chose the article because it was talking about how Syria was giving a $25-million reward for the capture of the president. I thought it related to scarcity because, now a days, money is very important for a person to sustain life, and if they wanted to capture the president the best way was giving a lot of money so people would do it as fast as possible. If people have an opportunity to get a lot of money, they will take it. Money is a limited resource; it is scarce and it will always be. If the government decided to print more money, then every time we would have more money to spend and everything would be more expensive.
Roman p

Water Scarcity - 0 views

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    The article I chose talks about water scarcity. I think this is very interesting because in some of the discussions we talked about wether salt water is scarce or not. The article shows that the quantity of fresh water is limited in some countries.
Sebastian a

norway's gender quota makes boards more proffesional. - 0 views

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    Norway has imposed a new set of laws which require at least 40% of Plc. board members to be women in order for the firm to be for professionally and globally focused.
Jan d

Conservation: Trade protection - 0 views

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    This article discusses the controversies involved in the sale of wildlife and a global ban in the trade of a species when it is threatened with over-exploitation. The author relates to trade bans as something that do more harm than good. This is perfectly illustrated by the following quote: "Combine inelastic demand, lack of substitutes, scarcity and open access to habitats with a trade ban, Dr Conrad argues, and a black market will flourish." Some of these conclusions also relate to arguments against protection we did in class, such as the limited options that consumers and firms have.
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