HND_经济学导论第二次作业

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金融学2次作业.doc

―、信用与利率的关系1、信用是与商品经济和货币紧密联系的经济范畴,它是商品生产与交衡口货币流通发展到一定阶段的产物。

信用关系是在商品货币关系基础上产生的,反映了商品生产者之间的经济关系，也为商品货币经济所共有。

同货币一样，信用也是一个古老的经济范畴。

从史料记载看，信用在历史上长期以实物借贷和货币借贷两种形式共存。

无论是实物借贷还是货币借贷,信用产生的基本前提条件都是私有制条件下的社会分工和大量剩余产品的出现。

显而易见，私有制是货币与信用存在的共同前提。

信用与货币自古以来就存在着紧密联系,但在产生的问题上是否有相互促进或制约关系：首先,以货币为媒介的商品流通的发展,为商品买卖在时间上和空间上分离创造了条件；商品的价值通过货币来表现，使价值可以从观念上独立于使用价值之外;而这种观念的强化，就为信用交阕是供了可能,至少是信用范畴接近原始的推动力。

其次,货币支付手段职能的发展,使商品让渡同商品价值的实现在时间上分离开。

这种分离意味着商品的买者要先让渡商品，然后才能得到商品价值的支付,商品买者只是作为未来货币的代表而赊购商品,形成了卖者作为债权人和买者作为债务人的债权债务关系。

综上所述,虽然我们还不能确定在原始位置到底是货币先于信用产生,还是信用先于货币产生,却可以从整体上肯定,早期的货币是信用发展的主要推动力。

换言之, 信用在历史上以货币流通为其发展之基础。

信用作为一个经济范畴，是以偿还和付息为条件的价值单方面的运动。

对它的本质似应从以下几个方面认识：(1 )、信用不是一般的借贷行为,是以偿还和支付利息为条件的。

(2) 、信用是价值运动的一种特殊形式。

价值运动的形式有多种,而信用是通过—系列的借贷一偿还——支付过程实现的。

价值单方面的车装多同传统的对等转移形成鲜明对照。

(3) 、信用是一种债权债务关系。

贷出方为债权人,借入方为债务人,信用关系是债权债务关系的统一。

(4 )、信用是与商品货币经济紧密相联的经济范畴。

hnd商法导论outcome2案例+答案

H N D商法导论O u t c o m e2案例+答案(总5页)--本页仅作为文档封面，使用时请直接删除即可----内页可以根据需求调整合适字体及大小--Case study 1Samir sees a set of golf clubs displayed in a shop window for ￡500. He enters the shop and states he will take the clubs. The shopkeeper however says the clubs are no longer for sale. Samir is demanding that he be sold the clubs and at the price displayed.Identify the essential requirements of a contract and discuss whether a contract exists here.A contract is an agreement between parties having the capacity to make it, in the form demanded by the law, to perform, on one side or both, acts which are not trifling, indeterminate, impossible or illegal, creating an obligation enforceable in a court of law. A valid contract has three essential features: there must be a agreement on all material aspects; at least two contracting parties and legal obligations.A contract consists of an offer and an acceptance. If there is no offer in the first place then there can be no contract. The basic elements of a contract include an offer and an acceptance.In the case Samir sees a set of golf clubs displayed in a shop window for ￡500. He enters the shop and states he will take the clubs. But shopkeeper says the clubs are no longer for sale. Samir is demanding that he be sold the clubs and at the price displayed.According to this case we can say that these is not exist a contract. In the case that a set of golf clubs are exhibited in a shop window, thus it is not an offer. Because the goods displayed in a shop window as a invitation to treat, we can know that goods displayed in a shop window (even when priced) are classed as a willingness to negotiate on the shops part. Invitations to treat also is considered to inquiry the price of goods, means a party to invite the other person to make offers. Different an offer, a willingness to negotiate only as prepared to make a contract of behavior on the issue who is not legally binding. The customer will make the offer to buy the goods which the shop are perfectly within their rights to refuse. The invitations to treat are not legally classed as offers and therefore cannot be accepted.Before the party who gave off the invitations to treat could not accept the other people’s offers they can revocation, and then the contract is not build. When Samir asked to buy the golf clubs the shopkeeper refused hin, and there was no acceptance. So when the shopkeeper refused Samir which is a set of golf clubs are not the good for sale, it just be used as ornament, and attracted the consumers interested. So an offer in this case is not found, either nor contract consists of an offer and an acceptance, we can know that there is on offer and there is on contract.Case study 2Tom is the top salesman for ABC Motors. He has been offered a job by a rival company but is concerned because there is a clause in his contract which prevents him from working for any other car company for five years.Tom is the top salesman because he regularly tells potential customers what they like to hear rather than the facts. He has done this in relation to ages of vehicles, odometer readings and vehicle service histories.Tom recently completed a deal to buy a vintage sports car for ABC Motors from now discover that Barry (not his real name) had stolen the vehicle.Question 1What is a restrictive covenant Advise Tom as to the legality of the clause in his contract.You can refer to Bluebell Apparel Ltd v Dickinson (1980) on page 146Question 2How would you classify Tom’s statements to the customers and what are the possible consequences for Tom and ABC motors in relation to these statements You can refer to Smith v Sim(1954) on page 161Question 3What is the legal position with regard to the vehicle which Tom has purchased from BarryYou can refer to Morrison v Robertson(1908) on page 1531 Restrictive covenant is a agreement which restrict the party liberty to work and trade. Such contracts are VOID unless the restriction can be shown to be reasonable to both parties involved and to the general public. There are three types of restrictive covenants: contracts between employer and employee, contracts between sellers and purchaser of a business and ‘solus’ agreements. For all three types, the party attempting to enforce the agreement must prove that it is reasonable to both parties concerned and to the general public. If they are unable to do this then the contract will be considered void and unenforceable. (from the text bookP142-142) This contract are legality, and the restriction was fair in this contract. Because the relationship of Tom and ABC motor is employer and employee, when enter employment and employee may agree to some restriction being placed on his future employment or trade. Later the employee may feel the restriction is unfair and therefore he may break it. In such circumstances it would be up to the employer take him to court and seek an ‘interdict’ forbidding the employee to break the agreement. They will consider the factor the nature of the job the employee was doing(from the text book P142). If Tom worked for any other company within the validity period of the contract that he would be in a position to harm his ex employers.2 The 4 main causes of error are: innocent misrepresentation, fraudulent misrepresentation, negligent misrepresentation and concealment of facts. And Tom’s statements to customersclassify fraudulent misrepresentation,A false and material statement which induces a party to enter into a contract this is misrepresentation. Because he regularly tells potential customers what they like to hear rather than the facts and him without caring whether it is true or false. Fraudulent misrepresentation can lead a contract being madevoid if it involved these points,first is fraudulent misrepresentation causes error in the substantials. Second is the other party relied on the misrepresentation and it was a major influence on them entering the contract, third is the other party can offer restitutio in integrum. So the contracts between Tom and customers is void, he relied on the misrepresentation and it was a major influence on them entering the contract, thus customers can acquire compensation. Or cancel the contract or both of them.3 Tom brought a car from Barry,but Tom discovered that Barry had stolen the vehicle. And in this contract has a error which made the contract void, the Barry stolen the car but Tom did not know before him brought, so he can not get the car’s ownership. An error concerning the identity of the parties. Barry stolen the car so he haven’t ownership of this car and sold car, therefore, he can not give ownership to Tom, and Tom does not get the car’ ownership actually. And in this case Tom can only lodge a claim to Barry.Case study 3Martina recently attended an auction for the first time. She was very keen(渴望的) on a particular painting and when the bidding commenced（开始） she got so carried away that she bid much more than she intended. Martina won the auction but with fees（费用） and commissions（佣金） added on to the price, she cannot pay the full amount for the painting.Question 1What do you understand by the term ‘breach of contract’ Give two examples. Question 2List the main remedies available for breach of contract.Question 3What is the most appropriate remedy for the auctioneer（拍卖商） in this case 1、Where one party fails to fulfil his or her legal obligation under a contract.(from the text book P183)example1Tony and Jane have a contract where Tony will pay June $100 for her car and delivery. Tony pays the $100 but Jane fails to delivery.(from the text book P197) In this case study there has been a Breach of Contract by Jane as she has failed to delivery the car.Example2Shirley and Oliva have a contract where Shirley brought a cake from Oliva for her friend and asked Oliva sent the cake to her friend on 12th December 2012 , but on that day her friend did not receive the cake.In this case study there has been a breach od contract by Oliva as she failed to sent the cake.2、If there is a breach of contract then the innocent party will have the right to seek a remedy for the breach.(from the text book P184)Damages as a remedy for breach of contract. The object of awarding damages to someone is to place them in the position they would have been in had the contract been completed.So damages are really awarded as compensation- if the party has actually lost money as a result of the breach then he will be awarded ‘substantial’or ‘compensatory’ damages.In some cases no actually loss may have been incurred as a result of the breach. If is still possible that damages may be awarded for trouble and inconvenience-these are know as ‘nominal’ damages.(from the text book P185)Specific implement as a remedy for breach of contractSpecific implement is to stop someone for acting in breach of contract. So specific implement may be positive---forcing someone who has been in breach to fulfil their obligations or negative ---forcing someone who has been in breach to stop doing something. (from the text book P191-192)Rescission as remedy for breach of contract.Rescission means cancellation . With this remedy, the innocent party has the right to rescind(cancel) the contract if the other party has been guilty of a material breach of contract.The main factor to be considered is what is meant by a material of contract. Ifthe breach is not material but only partial then the right of rescission does not exist.Many contracts contains a number of conditions, some of which are more important than others.If the contract specifically states that some are material then breach of these will mean that rescission can be taken as a remedy.(from the text book P193-194)The Defensive Remedies for breach od contractThere are two defensive remedies that can be taken by the party who is not in breach.①Lien:If a person has possession(占有) of an article(物品) on which he has been employed to do work then he can refuse to return the article to its owner until payment is made for the work done.Example of situations where lien could be used as a remedy for breach of contract include:②Retention:This is the right to refuse to pay a debt which is due(到期的).Retention can only be used under the following two circumstances:ⅰwhere compensation can be pleaded.(债权确定、到期)ⅱwhere both claims arise under the sameWhat is the most appropriate remedy for the auctioneer（拍卖商） in this case 3、in this case the defensive remedies in the most appropriate method for the auctioneer. The defensive remedies include lien and retention, the auctioneer should take lien measure. If a person has possession of an article on which he has been employed to do work then he can refuse to return the article to its owner until payment is made for the work done.As a result of Martina won the auction but with fees and commissions added on to the price, she cannot pay the full amount for the painting, the auctioneer can keep the painting until Martina paid off the rest of money.。

HND_经济学导论_outcome2_标答

Outcome 21.书178，179二个图Households buy commodities from firms, using the income individuals receive for their labour and capital supplied to firmsThe firms use the income received from the sale of commodities to pay for the labour and to invest in new premises,plant and equipment.2.Injections：Investments：Loan from banks, building societies, insurance companies etc. Money saved by household can be re-injected back into the inner flow as investment by business sector (firms) after they borrow the money out of financial institutions. Government Spending：Roads, hospitals, ing the fund largely collected through taxation, the government can be the biggest buyer spending money on the products and services provided by firms If government wishes to expend the flow of income in circulation, it may choose to increase the amount of its spending and probably adopt a tax-cutting.Exports：These are goods and services that are sold abroad. The payment for them will return to the firms in this country. For example, if someone buys textiles of China, then the proceeds of the sale belong to our country. This increases the circular flow and creates more economic activity in the economy for our country. Withdraws：Savings：Amount of income that consumers choose not to spend but retain for the future uses (normally deposit in financial institutions, e.g. banks and buildingsociety). Ability or desire to save out of income is measured by ‘marginalpropensity to save (MPS)’. Level of income is the biggest factor affects level of savings, i.e. the higher the income is, the greater savings (withdrawal) out ofcircular.Taxation：Through forms as personal income tax, V AT, corporate income tax, the disposable money circulated in the economy is drawn out by the government as its revenue. This can be in the form of direct tax on our income or indirect tax onpurchases, for example V AT.Imports：Part of the consumption of both households and firms are on foreign products or products contain imported components. So that portion of expenditure will eventually go into foreigners’ pockets therefore reduce the total income circulatedin domestic economy. For example if someone in Britain buys a Japanese car, then the proceeds of the sale will go back to Japan. Imports are therefore withdraws from the circular flow.3.四选二(a)1.Production: In calculating GNP, only those items which are paid for are normally included because calculations have to be made in money terms, the inclusion of other goods and services would involve imputing a value to them. For example, if a value is placed on certain jobs which a person does for himself—growing vegetables, cleaning his car, painting his house, then why not include shaving, cooking, cleaning, driving to work, etc. on the other hand, excluding what a person does for himself may distort national income figures. An imputed money value is included for certa in payments in kind which are recognized as a regular part of a person’s incoming earning, for example, goods produced and consumed by a farmer.2,Danger of Double Counting:This can arise through ‘stock appreciation’. When inflation occurs, the value of stocks of raw materials goods raises. While this adds to the profits of firms holding such stocks it represents no increase in real output. Such gains therefore, must be deducted from the Income and Output figures.3,The Black Economy: The size of the black economy can be difficult to estimate but certainly causes distortion. National Income figures for certain industries, for example, building industries have many workers who are self-employed and are paid in cash, tax revenue is lost and welfare benefits are claimed unnecessarily.(c)National Income will be in equilibrium when expenditure is equal to consumption or when injections equal total withdrawals total. And change in the level of injection or withdrawals will bring about a change in National Income. However, the change in National Income will be relatively greater than the initial change. This is known as the “Multiplier” effect.+ 书第200页的公式。

HND金融学导论答案

The Bank of England has these functions:1.Banker to the government: BOE can maintain Exchequer Account; it deals with taxationreceipts and expenditure of government.2.Banker to the banks: it refer to BOE only business contact with other large financialinstitutions, it is the central depository commercial bank's reserve fund, and their loans, to act as "lender of last resort."3.Note issue: in UK and Wales the bank of England is the sole bank for note issue. In Scotlandand Northern Ireland bank issue their own notes under strict regulation.4.Management of national debt: Bank of England manages it before 1988, but debt managementoffice now responsible.5.Monetary policy implementation: it can control of interest rates and money supply growth inthe economy.6.Lender of last resort: if the commercial bank’s money are shortage, they can seek help forBank of England, for example Bills discounted or loan from Bank of England. It can ensures liquidity of financial system.7.International relations: The Bank of England works closely with other central banks andprovides services for them. And operates on committees worldwide8.Managing the Exchange Equalisation Account: it rights of intervention in foreign exchangemarkets.9.private banking: the Bank of England has a limited number of old established private bankingcustomers whose accounts were opened prior to nationalization in 1946,pus staff member’s accounts.10.open market operations: the main aim of the Bank of England’s operations in sterling moneymarkets is to meet the MPC’s interest rate decisions.11.Payment and settlement systems: in brief, it means monitoring trading, clearing and settlementsystems.2. Your Chief Executive believes that he is likely to be expected to discuss some of your bank’s services with the governor of the Bank of England.Provide a brief summary of the following bank services:(a)credit cardsA credit card is issued to users as a system of payment. It allows its holder to buy goods andservices based on the holder's promise to pay for these goods and services. The issuer of the card creates a revolving account and grants a line of credit to the consumer from which the user can borrow money for payment to a merchant or as a cash advance to the user.Themain benefit to each customer is convenience.(b)agents for paymentAssociation for Payment Clearing Systems (APACS) is used for paper transfer of fundsbetween accounts. The bankers Automated Clearing System (BACS), the computerizedversion of APACS, allows automated transfer of wages and salaries, standing orders and direct debits, etc. for full details of the types of transactions that are effected on APACS.3. London stock exchange trading platforms are designed to maximise liquidity in the stocks traded on business. London stock exchange can through to their quote driven market maker platforms for less liquid securities. it has a choice of markets that put UK and international companies in touch with one of the world's deepest pools of investment capital.A primary market involves issuing new securities in return for capital.A government or company want to sell their securities for raise money and receives money. They can issue into the primary market.And the primary can long-term loans to the government are organized by the Debt Management Office (DMO), which is responsible for the issue and sale of government securities (gilts)Reasons for such issues vary but the main reason is to cover any anticipated budget deficit where government spending is expected to exceed income from taxes.4. (a)Going public will result in increased capital for the issuer. A public offering places a value on your company's stock and insiders who retain stock may be able to sell their shares or use them as collateral. Going public also creates a type of currency in the form of its stock that the business can use to make acquisitions.By offering securities publicly, the company and its management may be able to retain a certain degree of control.going public will generally result in the ability to better promote the company. Publicly traded businesses are usually better known than non-publicly traded businesses.Along with prestige and the ability to better promote the company, going public may allow the company to attract better personnel, including high-level executives and officers. Public companies are able to offer stock options, which have the potential to substantially increase in value.(b)There are a number of reasons why a company may opt not to go public, especially if it has another way to raise capital. Going public is an expensive process and if the offering does not go through, the company will lose that money.Another disadvantage of going public is that public companies operate under close scrutiny.There is also an increased risk of exposure to civil liability for public companies, executives and directors for false or misleading statements in the registration statement.There is a new pressure on public companies to increase earnings. Even successful businesses will face this pressure as shareholders become extremely focused on the company's current earnings. Public companies are also at risk of takeover attempts.5. CDs are issued to banks and building societies, they are negotiable, in other words their ownership can be transferred to third parties. CDs are payable to bearer, technically, certificate can transferred to a third party by simply delivering it by hand. CDs’ issue terms is 3months to 5 years and for total money, it usually ranging from ￡50,000 to ￡500,000. Usually, they carry a rate of interest at par is fixed for the life of the certificate, but occasionally floating rate CDs are issued.CDs are important means of interbank financing, and the CDs being the main operator exists with discount houses in secondary market, CDs are highly liquid assets and can be realised at very short notice.6. An option which conveys the right to buy something is called a call; an option which conveys the right to sell is called a put. The reference price at which the underlying may be traded is called the strike price or exercise price. Most options have an expiration date.A call option is a financial contract between two parties. The buyer of the call option has the right, but not the obligation to buy an agreed quantity of a particular commodity or financial instrument from the seller of the option at a certain time for a certain price. An investor would buy a call option if he/she expected the market price of the share to rise.A put option is a contract between two parties to exchange an asset, the underlying, for a specified amount of cash, the strike, by a predetermined future date, the expiry or maturity. One party, the buyer of the put, has the right, but not an obligation, to sell the asset at the strike price by the future date, while the other party, the seller, has the obligation to buy the asset at the strike price if the buyer exercises the option. An investor would buy a put option if he/she expected the market price of the share to fall.。

hnd_经济学outcome_2

●For example, households deposit money into banks or other financial institutions, or just retain money in treasuries.
●If a country saves too much of its income this is withdrawn from the circular flow and the flow will decrease. This means that less income circulates and economic activity is reduced.
●(G) includes: investment directly into the economy in the form of grants, business allowances, investment in roads, hospitals, housing, investment in nationalised industries, and the Welfare State, pensions, unemployment benefits and other transfer payments (TP).
●There are 3 sets of injections and withdrawals which can alter the circular flow of income in an economy.
●Injection (J) is money entering the flow . Injections include Investment, government spending and Exports.

HND大2金融业导论题目(中英)

金融业导论1 Your first task as Personal Assistant to the Chief Executive is to prepare a short summary of the functions of the Bank of England. Your summary should be not less than 300 words and not more than 500 words.1，你的个人助理行政长官的首要任务是英格兰银行的功能编写一个简短的摘要。

您的摘要应不低于300字，不超过500字。

2 Your Chief Executive believes that he is likely to be expected to discuss some of your bank’s services with the Governor of the Bank of England. Provide a brief summary of the following bank services: 你的行政长官认为他是有可能被预计将讨论一些银行的服务与英格兰银行总督。

提供以下银行服务的简要介绍(a) credit cards （一）信用卡(b) agents for payment （二）支付代理3 The Chief Executive asks you to explain briefly how the London Stock Exchange helps business to raise finance for long-term investment. Briefly explain the operation of the London Stock Exchange as a primary market for shares.行政长官问你简单解释一下，如何在伦敦证券交易所帮助企业提高为长期投资融资。

经济学第二次作业答案

案例二津巴布韦通货膨胀上世纪80年代，被称为非洲的“菜篮子”和“米袋子”的津巴布韦是非洲最富裕的国家之一。

到2008年4月4日，继2008年1月津巴布韦中央银行发行最大面值为1000万津元后，又发行了当今世界上面额最大的2.5亿津元纸币，可是仍旧有人提议要发行更高面值的货币。

在津巴布韦，人们对货币的使用早已不是论张，而是论“堆”或者用秤来“称量”。

被称之为津巴布韦化。

津巴布韦的物价越来越高，钱却是越来越薄，通货膨胀让许多人大喊吃不消，位于非洲的津巴布韦，感触绝对特别深，一张面额1000万津巴布韦币的纸钞，只能换到美金1.5元，而在津巴布韦买一只鸡要1300万津巴布韦币，游民至少要捡两个月的垃圾，加上不吃不喝才能买到一只鸡。

津巴布韦的垃圾场上来了许多街头游民，没钱买东西吃他们只好自力救济，身体还算硬朗的游民。

一个月还能攒上津巴布韦币2000万，但像一名体弱多病的苏菲亚，变卖的东西一个月才赚上100元津巴布韦币。

拾荒者苏菲亚说：“政府补助金根本不够用，我只好捡垃圾，赚钱付房租，好有个睡觉的地方。

”一张面额一千万津巴布韦币纸钞，才折合1.5美元，当地去年11月份通货膨胀为24447%，短短3个多月，通胀已是当时三倍，来到66000%。

超市中的洋芋片，一包将近500万津巴布韦币，结果还是抢光光，据说500万津巴布韦币，还是上个月的价钱，目前价格已经翻了一倍，当地的通货膨胀，让民众苦不堪言，政府束手无策，只会箝制媒体自由，例如美国有线电视新闻网就遭津巴布韦政府拒绝采访报导，这段难得的津巴布韦实录，还是透过可靠消息来源，协助采访才完成，国际社会也才得以知悉津巴布韦问题的冰山一角。

2000年-2008年通货膨胀率结合案例，请你分析以下几个问题：1．什么是通货膨胀？通货膨胀产生的原因有哪些？2．津巴布韦通货膨胀产生的原因是什么？3．如何治理通货膨胀？津巴布韦政府如何解决其通胀问题的？答：1. 通货膨胀指的是由于货币供给大于货币实际需求，而引起的一段时间内物价持续而普遍的上涨现象。

经济学基础2次作业答案

经济学基础2次作业答案第一篇：经济学基础2次作业答案试述货币政策的主要工具以及当经济呈现过热势头时央行应如何运用这些工具。

答：第一，调整准备金率第二，提高利率第三，公开市场操作，公开进入市场买卖债券和其他资产当经济过热的时候，央行会倾向于先调整，准备金率，回收部分货币，如果还是控制不了，提高利率，继续回收货币，或者是干脆直接进入市场公开卖出国债，回收货币，反正经济过热就会实现回收货币的稳健或者从紧的货币政策试述国民收入核算中的缺陷。

答：西方国民收入核算体系缺陷：首先，非市场交易活动得不到反映。

例如，许多不经过市场交易的活动，像家务活动，自给自足生产等，难以在GDP统计中反映出来。

家务劳动由自己干改为雇人干，GDP就会上升，但国民经济实际产出并未增加。

又如，不少地下交易，只是为了逃避税收，在这里，经济活动发生了，GDP 统计中却未得到反映。

其次，有些严重影响到社会发展和人们生活质量的内容无法得到反映。

例如，GDP核算无法说明人们享受了多少闲暇（两个生产了同样多GDP的国家，一国成员劳动十分紧张，一国成员享有许多闲暇，显然后者福利大于前者）。

又如，GDP无法说明环境污染到了什么程度（两个生产了同样多GDP的国家，如一国环境污染了，另一国并未污染，显然，前一国人们不及后一国人们幸福）。

再次，西方国民收入核算把所有市场交易活动反映到GDP中来，并不能正确反映社会经济发展水平。

如某地赌博和黄色活动盛行，也许GDP 水平很高，但并不说明该地区经济发展能给人民带来幸福，而只说明社会生活腐朽。

最后，由于GDP含劳务活动，两个国家可以拥有相同的GDP，但物质生产水平大不一样。

第二篇：经济学基础作业[范文]经济学基础期末作业问题一：经济学基础学习的心得体会经济学对我来说是陌生的，以前只是在电视报纸上了解些国际经济形势，往往一扫而过，总觉得经济离自己很远。

通过一学期经济学基础课程的学习，虽然学的不多，但深深地体会到经济学也是很有意思的，原来经济就在我身边，我可以用学到的经济学知识解释生活中的很多现象，这是以前不可想象的。

大二HND经济学导论DE3A 34 outcome 2

Q1. Circular flow of income画图解释循环Q2 3 injection and 3 withdrawals各举一个例子。

共六个例子例子越详细越好E.g. ExportsChina sells electronics to North Korea, China's National income(or GDP, GNP) increases.Q3.A Explain difficulties in measuring the national income. P162-163只写黑体字不给分；每个都需要例子并解释B. Explain why is it difficult to compare the growth rate of various countries P169每个都举例子并解释3行算雷同C. MultiplierExplain how P199-202内容包括：定义一个例子描述multiplier是如何形成的，可套用199页的例子（但是国家名字，产品名字必须要改掉）公式举例计算MPS=0.25,0.3,0.15(假设）MPC=1-MPSK=1/MPS=W如果注入X，实际国民收入增长加WXD. Explain the difference between real and nominal growth using examples from the tableReal: 考虑到通货膨胀的效应Nominal:不考虑通货膨胀的效应比方说：表格中，英国1994年国民收入增长为4.7%，如果同年通货膨胀为10%的话，real实际上没有增长，反而减少了通货膨胀会在一定程度上削弱国民收入增长。

HND大2 金融业导论答案

第一题：Functions of the Bank of Finance England1)Bank to the government●The Bank of England maintains accounts on behalf of the government.●The main account is the Exchequer Account. Government receipts from taxation, borrowing.●The accounts of government departments are also held at the Bank of England.2)Banker to the banksHigh street banks keep hold of their cash reserves at the bank of England.The bank of England maintains a current account for banks for:●Operational balances for cleaning●Non-operational balances for cash deposit ratios●Special deposits from time to time3)Note issueNote issue in the UK is fiduciary. The Bank of England is the sole bank for note issue.4)Management of the national debt●The Bank of England's registrar's department continues to maintain a register of holders ofgilts.●The Bank of England is responsible for management the national debt since 1751 to 1998.●This responsibility has been passed to the DMO.5）Monetary policy implementationIt is responsible for the control of interest rates and money supply growth in the economy.6)Lender of Last ResortThis involves providing liquidity. This helps to stabilize the banking system. The bank of England must legally provide liquidity at all times.7)International relations●The Bank of England works closely with other central banks and provides services for them.●It is a member of various international financial institutions such as the InternationalMonetary Fund and has representation on committees of central banks.8)Managing the exchange equalization accountThe EEA was set up in 1932 to stabilize the value of sterling in relation to other currencies and consists of the country's gold and foreign currency.9)Private bankingThe Bank of England has limited number of old established private banking customers whose accounts were opened prior to nationalization in 1946,plus staff members' accounts.10)Open market operations●The main aim of the Bank of England's operations in sterling money markets is to meet theMPC'S interest rate decisions.●The buying and selling of government bonds on the open market by all bank of England.11)payment and settlement systems●The bank of England monitors trading, clearing and settlement systems relating to, e.g.:equities, bonds and exchange-traded derivatives.●The bank of England plays a critical role in payment and settlement systems by ensuringstability in the UK's clearing and settlement procedures.第二题：Credit cardsAll high street banks offer credit card facilities through either the VISA or MasterCard systems. The bank offer cardholders the opportunity to obtain goods and services on credit with the option of repaying the balance of the account in full without interest penalty or paying the balance in installments’, subject to payment of interest.(is sued for people transfer of funds between accounts. The banker automated Clearing System the computerized version of APACS allows automated transfer of wages and salaries, standing orders and direct debits, etc. for full details of the types of transactions that are effected an APACS and for details of its membership,第三题：How to raise money?●Companies raise fresh capital through the stock exchange, which brings lenders andborrowers together and encourages of those with funds to invest.●It satisfies the requirements of those in need of funds, whether government.Why issue the shares in the primary market?● A government or company wishing to raise money sells securities and receives money.●Companies issue stocks and shares. A stock refers to fixed interest securities that pay aguaranteed interest rate.● A listing will be sought on the listed market or the smaller, less regulated market known asthe alternative investment market.●Reasons for such issues vary but the main reason is to cover any anticipated budget deficitwhere government spending is expected to exceed income from taxes.第四题：Advantages and disadvantages of quotation/listingAdvantages:1.Personal guarantees of directors are not usually required for borrowing.2.Offering employees extra incentive by granting shares IPO option.3.It being a public company can provide customers and suppliers with added reassurance.4.The company may gain a higher public profile which can be good for business.5. A float makes it easier for company and other investors to realize your investment.Disadvantages:1.The cost of quotation can be substantial and there are also ongoing costs such as higherprofession fees.2.The company may have to give up some management control of the business and ultimatelythere is a risk that the company could be taken over.3.Managers could be distracted from running the business by the demands of the floatationprocess, and by dealing with investors.4.If the market conditions change during the quotation process you may have to abandon thequotation.5.The business may become vulnerable to market fluctuations which are outside your control.第五题:Negotiable CDs1.Negotiable CDs are certificates acknowledging deposit of funds, the ownership of which canbe transferred to third parties.2.These are guaranteed by the bank and can usually be sold in a highly liquid secondary market,but they cannot be cashed-in before maturity.3.They are issued at par and carry a rate of interest that is usually fixed for the life of thecertificate, although occasionally floating rate CDs are issued.4. A certificate of deposit with a minimum face value of $100,000.5.Payable to the bearer, which means that the owner’s name does not appear anywhere on thecertificate.6.Technically, a certificate can be transferred to a third party by simply delivering it by hand.7.Issued on terms of 3 months to 5 years8.For amounts usually ranging from 50,000 to 500,000 pounds.9.Dollar is the main non-sterling currency of denomination but other currencies are used aswell.10.Institutions often use these as a way to invest in a low-risk, low-interest security.11.Due to their large denominations, NCDs are bought most often by large institutionalinvestors.第六题：Options1)Call optionsA call option gives the buyer the right, in return for paying a premium, to buy a share at a predetermined price up to a specified date.An investor would buy a call option if he/she expected the market price of the share to rise.2)Put optionsA put option gives the buyer the right, in return for paying a premium, to sell a share at a predetermined price up to a specified date.An investor would buy a put option if he/she expected the market price of the share to fall. Futures:●If the investor buys the contract, he/she must take delivery.●If the investor sells the contract, he/she must make delivery.●If the investor wishes to avoid having to take or make delivery investor must close outinvestor position.●The primary difference between options and futures is that options give the holder the right tobuy or sell the underlying asset at expiration, while the holder of a futures contract is obligated to fulfill the terms of his/her contract.。

经济学第2次作业

《经济学》第二阶段习题一、概念题1.规模收益递减（ Decreasing return to scale）：规模收益递减指的是：如果所有投入品的数量都以相同的百分数增加，并导致产量增加的百分数小于该百分数，就是规模收益递减的。

2.需求曲线（Demand curve）：需求曲线是显示价格与需求量关系的曲线，是指其他条件相同时，在每一价格需求曲线水平上买主愿意而且能够购买的商品量的表或曲线。

其中需求量是不能被观测的。

需求曲线可以以任何形状出现，符合需求定理的需求曲线只可以是向右下倾斜的。

3.主导厂商（Dominant firm）: 是指在寡头垄断的行业中，主导厂商是一个制定价格的大型厂商，它允许该行业中的小厂商在此价格下销售它们想出售的全部数量的商品。

4.优势策略（Dominant strategy）5.双头垄断（Duopoly): 双头垄断是指一个行业只有两家卖主（或两家厂商）的市场类型，又称“双边垄断”。

6.经济效率（Economic efficiency）: 经济效率是社会经济运行效率的简称，是指在一定的经济成本的基础上所能获得的经济收益。

用“时间”来衡量经济效率是错误的，“时间”只是经济成本的一个方面或一部分，而不是经济成本的全部。

7.经济利润（Economic profit）: 经济利润（Economic profit）是指厂商的收益与它的成本之差，后者包括从最有利的另外一种厂商资源的使用中可以获得的收益。

8.生产的经济区域（Economic region of production）: 生产的经济区域是指等产量线斜率为负的投入品组合。

在等产量线斜率为正的点上没有一个厂商运行，因为在这种点上总会有一种投入品的边际产品为负。

9.经济资源（Economic resource）：经济资源是指一种稀缺的、要求一个非零价格的资源。

：所谓经济资源，必然具备有用性和稀缺性，有用性是资源之所以为资源的依据，稀缺性是经济资源之所以为经济资源的前提，而能否认识和利用这种稀缺的有用性则尚须依赖于一定的知识、技术和经济条件，因此经济资源通常被定义为具有稀缺性且能带来效用的财富，是人类社会经济体系中各种经济物品的总称。

HND 经济学(2) outcome3

Report for Economic IssuesOutcome 3Name: Zhang ChenMajor: International Economic and TradeClass: 2Number: 20115434Contents1. Introduction2. Findings2.1 Market Failure2.2 Public Goods2.3 Merit Goods2.4 Externalities2.5 Imperfect Competition2.6 UK Government policy on welfare2.7 The evaluation3. Conclusion4. Reference1. IntroductionMy reporter is expounding the market failure, and in my explanation I make appropriate reference to the role of government in relation to each of the following: Public Goods, Merit Goods, Externalities and Imperfect Competition. Later, I will explain the UK government policy on welfare and identify and describe the instruments the government use to achieve their policy and give a justified evaluation of the performance of the policy in relation to its use within the UK2. Findings2.1 Market FailureAn economic term that encompasses a situation where, in any given market, the quantity of a product demanded by consumers does not equate to the quantity supplied by suppliers. This is a direct result of a lack of certain economically ideal factors, which prevents equilibrium.Market failures have negative effects on the economy because an optimal allocation of resources is not attained. In other words, the social costs of producing the good or service (all of the opportunity costs of the input resources used in its creation) are not minimized, and this results in a waste of some resources.For example, the common argument against minimum wage laws. Minimum wage laws set wages above the going market-clearing wage in an attempt to raise market wages. Critics argue that this higher wage cost will cause employers to hire fewer minimum-wage employees than before the law was implemented. As a result, more minimum wage workers are left unemployed, creating a social cost and resulting in market failure.2.2Public GoodsImagine that the government did not provide an army, navy, air force, etc. A private company might have the idea of forming a national army and to raise the required money, they decide to ask everyone for £10. If you were that person on the CND march, and you did not want to be defended, then you would not pay. There may be a lot of people who refuse to pay for this reason. Also, there may be some people who do quite want to be defended, but take the risk of not paying on the assumption that there will be some people in the UK that will care enough to pay the inevitable increased price. This is the free-rider problem. The people who do not pay, for whatever reason, are having a free ride.To sum up, the reason why public goods come under the topic 'Market failure' is that the free market would fail, horribly, to provide defense and street lighting if left to them. The government has to intervene to correct this market failure.2.3 Merit GoodsMerit goods are also things that are 'good' for you, but unlike public goods they can be provided privately. The problem is that if they are provided solely by the privatesector then they tend to be under-consumed, so, again, the government has to step in to correct the market failure.The best two examples are health and education. Both of these goods can be provided privately. Some of you may be at a private school (or independent school, as they are called), or your family may have a private health insurance scheme. But, if the government did not step in and provide state schools and the NHS, then numerous families would not be able to afford either. This would cause increased crime and reduced productivity from an underclass of the non-educated and increased health problems which can also cause problems for the labor market.2.4ExternalitiesNegative Externalities in Production: The socially optimal output level is less than the market equilibrium quantity. Negative externalities in production or consumption lead markets to produce a larger quantity than is socially desirable.When externalities are significant and private solutions are not found, government may attempt to solve the problem through command-and-control policies, market-based policies.The government can either regulate behavior or internalize the externality by using Pigovian taxes.2.5 Imperfect CompetitionIn economic theory, imperfect competition is the competitive situation in any market where the conditions necessary for perfect competition are not satisfied. It is a market structure that does not meet the conditions of perfect competition.There may be imperfect competition due to a time lag in a market. An example is the “jobless recovery”. There are many growth opportunities available after a recession, but it takes time for employers to react, leading to high unemployment. High unemployment decreases wages, which makes hiring more attractive, but it takes time for new jobs to be created.2.6 UK Government policy on welfareWelfare economics is the study of how an economy can best allocate its resources to ensure that they achieve the greatest utility or economic welfare of its people, When resources are used efficiently then they maximize the welfare or utility of all. This is refers to people’s well being, and the United Kingdom Government believes it has a role in the redistribution of income and wealth allowing the increase in economic welfare. This policy is achieved by1.Taxation——by taxing those “who have ”,the Government can then give to those who do not “have ”2. Legislation——employment laws or discrimination laws (see supply side policies)3. Providing system of benefits and support.Government accepts that there are certain goods and services that are beneficial tosociety but will not be provided by the private sector in either the correct quantity or at an affordable level. Such areas include health and welfare.Traditionally the Government provides the majority of care for the elderly in the form of large long-stay institution/nursing homes. The Thatcher Conservative Government believed in the role of the free market and introduced the legislation that would introduced the legislation that would introduce market principles into welfare by closing the long stay institution and increasing the number of services-care in the community.2.7 The evaluationIt is clear that the policy has proved to be more expensive than was envisaged. It is difficult to assess the amount of money needed to carry out the policies, such as, care in the community and free personal care-local authorities that may not have enough money to provide these partly due to the aging population. However, another issue arose. Once the policies were put in place, local authorities and social workers soon discovered that there were many more people in the community entitled to these benefits than had previously claimed Government help.This problem will, in the future, be exacerbated with the decline in the population –there will not be enough young people to work and provide the taxes needed to support an aging population. Another issue was that demand was outstripping supply. When free personal care was introduced, social work and health services were swamped with demand for these services.This is not the only area of public ownership. We must always remember that the role of public ownership will cover many aspects of our society:·Public goods·Nationalized / Government owned industries for example, BBC, Royal Mail ·Regulation of industries for example, transport with OFGAS, OFTEL etc3. ConclusionThis report mainly writes the term market failure, and discusses the role of government in the market failure by four parts. Also talk about the UK government policy on welfare and the way or instrument to achieve this policy and give a justified evaluation for this policy.4. Reference·Economic Issues: An Introduction··· 。

HND经济学导论outcome2

Assessment task 2Assessment task instructions The UK economy is made up of millions of people and billions of economic activities. Within these activities, goods and services are created and exchanged. It can be complicated at times but a simple model explaining in general terms how an economy is organised and how those involved interact is a good start.Question 1 Draw a diagram showing the participants of the Circular Flow of Income and explain how it operates. The simple model is sufficient for a beginning, but an economy is more complex and involves external influences, which can raise or lower economic activity.Question 2 Identify three injections and three withdrawals from the Circular Flow of Income; give examples of each, and how they affect levels of economic activity. In the following table, there are examples of the growth rate of various countries over nine years Country United Kingdom United States Bulgaria Switzerland 1994 4.7 4.0 1.8 0.3 1995 2.9 2.7 2.1 0.6 1996 2.63.6 -9.4 0.3 1997 3.44.4 -5.6 1.7 1998 3.0 4.3 4.0 2.4 1999 2.14.1 2.3 1.6 2000 3.1 3.85.4 3.0 2001 1.9 0.3 4.0 1.3 2002 1.6 2.4 3.5 0.6Question 3 Choose any two of the following questions: (a)Explain at least three difficulties encountered in measuring the National Income of a country. (b) Explain (using at least three reasons) why it is difficult to compare the growth rates of the countries in the table above. (c) Explain how the multiplier effect could substantially raise the level of National Income. (d) Explain the difference between real and nominal growth using the table above.Assessment task 2 Outcome(s) covered 2 Suggested solution and making an assessment decisionQuestion 1 A circular flow diagram clearly identifying the following in their correct places: Firms: Households: Markets for factors of production: Land, labour, capital and wages, rent, profit and income. revenue spending Goods and services sold Goods and services bought Firms Households Production inputs Land, labour, capital Wages, rent, profit income （PPT 书P74）Question 2Injections: Investment Withdrawals: Savings Government spending Taxation Exports Imports Appropriate examples: Investments: New factory being built 【built a new private enterprise (grow)】Government spending: New hospital being built (not PFI or PPP)【built public schools (grow)】Exports: Firm wins order to supply new computers to foreign firm 【In cooperation with foreign sales (grow)】Savings: High interest rates result in more savings【a country saves too much of its income (decline)】Taxation: Imports: Government raise level of income tax 【government raise income tax (decline)】Record numbers of holidaymakers go on overseas holidays 【spending on foreign goods by more national】（PPT书P73）Question 3(a) Any three from the following: Errors/omissions from the data gathered，Black economy，Non-recorded items，eg DIY, housework, barter，Transfer income，Double counting.(b) Methods may change over time. Accuracy of figures，Inflation adjustments，Social conditions，Work conditions，Unequal distribution of income. Spending patterns eg defence.(c) Explanation of multiplier either in words or through use of algebra（书P199.200）. Explanation should show that an initial injection to National Income results in a larger level of NI than the original injection. Propensity to save and consume.(d) An explanation of the difference between real and nominal growth, identifying that in real terms inflation is taken into account. In 1998 the growth rate is shown as 3%. If this figure is the nominal rate and inflation is measured at 3.1%, then there is no real growth in the economy. Any similar example will suffice.【GDP=Consumption +Capital investment spending +GeneralGovernment spending +Exports +Imports of Goods(Services) GNP=GDP+NPIA(Net property income from abroad) National Income=GNP-Capital Consumption Real Growth Rate=Nominal Growth Rate-Inflation Rate (Real Growth is the grow adjusted for inflation, Nominal Growth is the grow in the current value of money, Inflation Rate is measure of rate of change in price index)2000: 3.1-3.2=-0.1 no real growth 】。

金融学导论第二次作业

1.（1）您任期的目标是什么？答：通货膨胀控制在2%左右，失业率控制在5%左右。

但在任期内出现过通胀压力、美元升值、通货紧缩等一系列问题。

（2）在您的任期中，经济状况有什么变化，发生了什么样的冲击？答：美元升值，通货膨胀率持续下行，存在通货紧缩压力。

（3）您是如何进行应对的，应对的效果如何？您认为央行行长的目标是否容易达到？答：持续降低联邦基金利率，逐渐稳定通货膨胀率下行，并提高通货膨胀率；目标通过关注市场反应及时调整利率，可以修正并逐渐向正常值靠拢。

（4）并说明您这样认为的理由是什么？答：利率和通货膨胀率相关联。

（5）请登陆“扩展资源”板块，观看“前沿讲座”，并查阅推荐的“相关网站”，如“财经门户”，“经济信息”等，获取世界经济状况信息，比较与游戏场景有什么相同和不同点？答：相同点：世界经济复苏基础仍不稳固，金融市场缺乏实体经济的有力支撑。

不同点：游戏只是模拟世界经济的一个形式，在游戏中我们可以依据金融规律，通胀压力时采用稳健的财政政策，通缩时采用积极的财政政策。

而在现实生活中的金融界复杂的经济因素都会影响投资者信心和金融市场稳定，全球金融市场动荡的可能性仍然较大。

2.游戏体会：答：经过对游戏的操作和课外资料的查询发现实际的金融世界有复杂的经济原因，影响金融变动的原因非常多，而且各种原因会同时出现，作为决策保持经济稳定非常不易。

控制通货与信贷，运用公开市场业务、银行借款贴现率和金融机构法定准备金比率三大杠杆来调节美国经济。

调整利率是美联储宏观调控美国经济的主要手段。

如果经济过热，它就提高利率，收缩银根，使经济速度放慢，减少通货膨胀压力。

如果经济不景气，它就降低利率，放松银根，促使经济增长。

其关键是根据经济形势对利率提高和降低进行调控，并要恰到好处。

货币杠杆是美联储多年来对经济实施调控的最有效武器。

美联储调整利率不仅对美国经济举足轻重，对世界经济也有重要影响。

作为美国的中央银行，美联储从美国国会获得权利。

第二次国际经济学作业及答案

1.分别说明以下各图对应的是什么情况，并加以解释。

这种情况称为需求的逆转，也即是需求的差异超过了供给能力方面的差异，即有生产劳动密集型产品供给优势的国家也更加偏爱劳动密集型商品，导致其劳动密集型商品对资本密集型商品的价格反而比另外一个国家（资本充裕的国家）更高，开放贸易后反而进口劳动密集型商品，对于另一国也是一样的情况。

3.过去20年在美国以及一些其他发达国家，国际贸易对工资不平等的加剧是否起到什么作用？应怎样解释？
过去20年，美国与发展中国家，尤其是新兴工业化国家的国际贸易加剧了国内熟练工人与不熟练工人之间的工资不平等。

首先，对劳动密集型商品进口的增加减少了对不熟练工人的需求；其次，劳动节约型的变革的加速引进进一步减少了对不熟练工人的需求。

然而，国际贸易只是导致美国国内工资不平等加剧的一小部分原因，最重要的原因是技术变革。

4．根据教材中运输成本与国际贸易的模型图，说明对贸易商品的供求曲线较陡峭的国家，负担的运输成本较大。

（画图并加以说明）
5.完全竞争厂商、垄断竞争厂商和完全垄断厂商所面临的需求曲线之间有什么差异？为什么？
6.画一张与教材中规模经济国际贸易模型图相似的图，表示在规模经济下，生产可能性曲线相同而偏好不同的国家之间是如何互利贸易的。

7.根据产业内贸易指数，计算下列进出口水平下，产业内贸易的程度。

（1）1000（出口）和1000（进口）下同
（2）1000和750
（3）1000和500
（4）1000和250
（5）1000和0
这些大家可以根据公式自行计算。

SHQ HND 经济学2

Unit Title: International Physical DistributionAssessor Name:Submission Date:The World EconomicCandidate Name:Candidate ID:Course Group: Global Trade and BusinessCandidate Grade:Word Count:2567Personal Statement:Ihereby confirm that this is my own work and not copied or plagiarized from any source. I have referenced the sources from which information is obtained for this assessment.Candidate Signature: Date:ContentsIntroduction (2)Q1: Definition of Free trade,including the theory of absolute and comparative advantage (2)Q2:Three gains from International trade. ........................................................ 错误！未定义书签。

Q3:Definition of barriers to trade, including two forms of protectionism. ..... 错误！未定义书签。

Q4:The reason why government may wish to raise barriers to international .. 错误！未定义书签。

Q5:The role of the World Trade Organization in the development of free trade错误！未定义书签。

南开24年秋季《经济学原理(二)》作业参考二

24秋学期《经济学原理（二）》作业参考1.在其他条件不变的情况下，如果公众更多地持有通货，则货币供给（）。

选项A：上升选项B：下降选项C：不变选项D：不确定参考答案：B2.如果一家美国的衬衣制造商从埃及购买棉花，则美国的（）。

选项A：净出口上升，资本净流出上升选项B：净出口上升，资本净流出下降选项C：净出口下降，资本净流出上升选项D：净出口下降，资本净流出下降参考答案：D3.根据菲利普斯曲线，在短期中存在着（）两者的权衡取舍。

选项A：通货膨胀与失业选项B：实际失业率与自然失业率选项C：物价与产量选项D：工资与物价参考答案：A4.根据开放经济的宏观经济模型，进口配额会使（）增加。

选项A：净出口和资本净流出选项B：净出口但不是资本净流出选项C：资本净流出但不是净出口选项D：既不是净出口也不是资本净流出参考答案：D5.假设一个封闭经济中，消费是6500，税收是1500，政府购买是2000，如果国民储蓄是1000，则GDP是（）。

选项A：9500选项B：10000选项C：10500选项D：以上均不正确参考答案：A6.如果实际通货膨胀高于预期通货膨胀，那么（）。

选项A：债权人获得低于预期水平的实际利率选项B：债权人支付低于预期水平的实际利率选项C：债务人获得高于预期水平的实际利率选项D：债务人支付高于预期水平的实际利率参考答案：A7.如果MPC=3/5，那么政府购买乘数为（）。

选项A：5/3选项B：5/2选项C：5选项D：15参考答案：B8.当消费物价指数上升，典型家庭（）。

选项A：不得不花费更多的美元来维持相同的生活水平选项B：可以花费更少的美元来维持相同的生活水平选项C：发现生活水平没有受到影响选项D：可以通过更多储蓄来补偿价格上升的影响参考答案：A9.在其他条件不变的情况下，如果物价水平下降，则（）。

选项A：汇率下降，净出口下降选项B：汇率下降，净出口上升选项C：汇率上升，净出口下降选项D：汇率上升，净出口上升。

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Question 3
Choose any two of the following questions:
(a) Explain at least three difficulties encountered in measuring the National Income of a country.
(b) Explain (using at least three reasons) why it is difficult to compare the growth rates of the countries in the table above.
(c) Explain how the multiplier effect could substantially raise the level of National Income.
(d) Explain the difference between real and nominal growth using the table above.
Assessment task 2 Outcome(s) covered 2
Suggested solution and making an assessment decision
Question 1
A circular flow diagram clearly identifying the following in their correct places: Firms: Households:
Markets for factors of production:
Land, labour, capital and wages, rent, profit and income.
Question 2
Injections:
Investment
Government spending Exports
Withdrawals: Savings Taxation
Imports
Appropriate examples:
Investments: New factory being built 【built a new private enterprise (grow)】
Government spending: New hospital being built (not PFI or PPP)【built public schools (grow)】 Exports: Firm wins order to supply new computers to foreign firm 【In cooperation
with foreign sales (grow)】
Savings: High interest rates result in more savings 【a country saves too much of
its income (decline)】
Taxation: Government raise level of income tax 【government raise income tax
(decline)】
Imports:Record numbers of holidaymakers go on overseas holidays 【spending
on foreign goods by more national】
Question 3
(a) Any three from the following:
Errors/omissions from the data gathered.
Black economy.
Non-recorded items, eg DIY, housework, barter.
Transfer income.
Double counting.
(b) Methods may change over time.
Accuracy of figures.
Inflation adjustments.
Social conditions.
Work conditions.
Unequal distribution of income.
Spending patterns, eg defence.
(c) Explanation of multiplier either in words or through use of algebra.
Explanation should show that an initial injection to National Income results in a larger level of NI than the original injection.
Propensity to save and consume.
(d) An explanation of the difference between real and nominal growth, identifying that in real terms inflation is taken into account. In 1998 the growth rate is shown as 3%. If this figure is the nominal rate and inflation is measured at 3.1%, then there is no real growth in the economy. Any similar example will suffice.
【GDP=Consumption+Capital investment spending+General Government
spending+Exports+Imports of Goods(Services)
GNP=GDP+NPIA(Net property income from abroad)
National Income=GNP-Capital Consumption
Real Growth Rate=Nominal Growth Rate-Inflation Rate
(Real Growth is the grow adjusted for inflation, Nominal Growth is the grow in the current value of money, Inflation Rate is measure of rate of change in price index)
2000: 3.1-3.2=-0.1 no real growth
】。