Category: Economics

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➤ Why does a wage above equilibrium create unemployment?
A wage above equilibrium raises labor supply and lowers labor demand at that price. Employers hire fewer workers while more people want jobs at the higher wage. The gap between supplied and demanded labor becomes unemployed workers. The result is persistent unemployment until the wage falls or demand increases to restore equilibrium.

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Which of the following is a cultural difference between British and American English that marketers should consider?
“Vacation” vs “Holiday”
“Bus” vs. “Car”
“Road” vs. “Street”
“Shop” vs. “Store”

The quantity of iPads that people plan to buy this month depends on all of the following EXCEPT:
the price of a rival’s tablet
the price of an iPad
the technology used to produce an iPad
the price of apps

➤ When can a trade surplus lead to currency appreciation?
A sustained trade surplus can raise foreign demand for domestic currency, putting upward pressure on the exchange rate and causing appreciation. Appreciation is more likely alongside capital inflows, higher interest rates, or commodity booms, but monetary policy and global conditions also shape exchange-rate moves.

➤ Why does receiving money sooner make it worth more today?
A sooner receipt reduces opportunity cost and limits discounting. Money you get sooner can be invested or used to avoid borrowing. Because fewer discount periods apply, the present value falls by a smaller amount. In simple terms, time reduces value when interest compounds over many periods.