Econ Questions Essay Example | Topics and Well Written Essays - 2500 words

Econ Questions - Essay Example Pugelovia will export rice and import cloth. 9.b. An increase in endowment of capital would result in a production-possibility curve that is biased toward machinery or production of large volume of machinery. The large volume of machinery produced is due to the effect of more clothing being given up in order to produce machineries. 9.e. US national well being may decline as a result of the increase in endowment of capital. As the capital/labour ratio in the international sector declines, the wages in the US would decrease causing a declining income for workers. 3. A tariff would increase the production output domestically. When a country imposes tariff, the domestic price of the product would increase in order to include the tariff. Local producers who do not pay the import tariff would have an incentive to increase their output in order to exploit the higher domestic price. The tariff would give domestic producers extra surplus on all the goods they would have produced even without the tariff plus smaller net gains on additional sales. Graphically, the domestic supply would increase from point J to point C, when tariff is imposed. The production effect is the area ABCJ. The production effect is computed by { = [q1*t] + [(q2 – q1)*t/2]] 4. A tariff would decrease the consumption domestically. When a country imposes tariff, the domestic price would increase such that consumer demand will decline due to higher price. The tariff costs consumers both the full tariff on every goods they continue to buy and the net enjoyment on goods they would have bought at the lower tariff-free price but do not buy at the higher price that includes the tariff. Graphically, the domestic demand would decrease along the demand curve from point H to point F, when tariff is imposed. The consumption effect is the area ABFH. The consumption effect is computed by { = [q3*t] + (q4 – q3)*t/2] 5. Imposing a tariff high

Controversial issues in education - Is home education beneficial for Essay

Controversial issues in education - Is home education beneficial for children - Essay Example Home schooling allows the parents to determine the content of the syllabus based on the legal and social provision of a particular state. Various education bodies in the country monitor the conduct of both parents and children in order to ensure the children acquire adequate and appropriate education (Lampmt and Wuthnow, 2008). The concept of home schooling started in 1970s after some educators begun encouraging the parents to conduct tuition for their children at home. Educators and researchers such as Raymond Moore, Dorothy and John Holt led the home schooling movement (Sheng, 2013). The individuals conducted massive campaigns in various schools, media and households encouraging the parents to adopt the home schooling system in order to reduce the cost of education. In addition, they encouraged the parents to utilise home schooling as an avenue for enhancing their relationships with the children (Collom, 2002). The arguments of the researchers were based on the idea that the traditional public and private school environment interfered with the morality of the children. In addition, the scholars highlighted that children concentrate more under the supervision of their parents than under the teachers’ guidance. The idea of home schooling continues to grow significantly in United States because most parents prefer to tutor their children at home. Research indicates that most of the young generation parents prefer home schooling their children in order to enhance their morality and quality of education. In addition, other parents engage their children in home schooling system in order to uphold particular religious beliefs in the society (Mur, 2003). For example, Muslim families in United States educate their children at home in order to incorporate the religious concepts in their training (Aurini and Davies, 2005. Additionally, parents