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Economics is a social science concerned with the production, distribution, and consumption of goods and services.

Analyzing the Economic Impact of Trucking Accidents on the Logistics Industry

The logistics industry relies heavily on commercial trucking to transport freight across the country. However, trucking accidents can have rippling economic consequences across the entire supply chain. This article analyzes the financial toll of trucking accidents on logistics companies and the industry at large. Analyzing the economic impact of trucking accidents on the logistics industry reveals a multifaceted landscape of financial repercussions, operational disruptions, and legal complexities. As a crucial

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How to Make the World Better Economically

Nowadays, the burning desire of humanity on the planet earth is to establish and maintain goodness based on justice and equality. Such a dream can never come true without economic betterment in society. Certain worms and hurdles are there in the world that cease the welfare process in this regard. Undoubtedly, all the well beings, prosperities and welfare are dependent on economic betterment to make societal quarters purposeful and peaceful.

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Analysis of Capitalism

Species being is the essence of a species which includes their needs and desires. Most of the species are content with the fulfillment of their primal needs such as food, intercourse and sleep; because only these basic activities are essential for the survival of their species. In contrast; human beings are more complex so it is understandable that their needs and desires will be complex as well. The concept of

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Democratic Institutions and FDI Inflows to the Developing Countries

Research Question of the Article: The research outlines theory that assists in identifying casual avenues with potential of hindering, and promoting FDI inflows through democratic institutions. The research explores gape in the existing literature is the study of ‘democratic’ effects’ on FDI as a broad subject-matter. The paper utilizes quantitative method techniques for the negative and positive effects, which includes empirical tests relating to 53 developing countries, and the time

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An examination of USMCA’s Impact on Manufacturing Jobs and Economic Competitiveness in United States

Abstract The process of renewing NAFTA for the terms that benefits interest of the United States, coupled with associated benefits of the Mexico and Canada, begins after two decades of NAFTA in action. The new deal known as USCMA provides insight into the labour rights, and adopts policies and regulations for the labour effecting from the deal through introduction of laws and policies that reflects core value of the ILO.

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Economic Globalization and Democracy

With an intense global change engulfing the world over the past forty years marked by the third wave of democracy that started in the 1970s and peaked by 1990s; along with globalization of goods, information, people and money across borders, the interrelatedness of democracy and economic globalization has become an area of a great interest for foreign policy makers and those dealing with international political economy (Eichengreen and Leblang). Over

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Hegemonic Stability Theory

Introduction According to the Hegemonic Stability Theory, a sovereign Hegemonic state is essential to form and uphold an international economic and monetary system. The main concern of HST is international trade policies. The single powerful state or the hegemon creates its system for its state’s favor and benefit. In other words, a stable international system requires a single leading hegemonic state to implement the guidelines of collaboration with other important

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Economic and Financial Crisis

Factors Contributing to The Financial Crisis Of 2008 The financial crisis of 2008 resulted from a financial bubble which was originated from the breakdown of the “securitization food chain”. It was the conventional practice of borrowers who used to secure the loan for a mortgage and then pay it back with interest to a financial institution. These loans were then sold to the investors in the post-Reagan period which initiated

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What economic factors are likely to influence your future customers?

LEGO has always embraced innovation and is strongly connected with its customers to provide them with a personalized experience of playing with LEGO toys. However, the recent trends of the customers towards technology-based group can be the next milestone for the company to stay competitive in the market. Similarly, since now consumers are more oriented towards green toys, the company need to shift its product development process to actual core-product

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The Political Economy of International Monetary Relations

Research Question of the Article: The authors J. Lawrence Broz and Jeffry A. Frieden seek to outline the significance of policies and strategies related to international monetary relations within national exchange rate policy and the international monetary system. The authors search for the identification of the policy choices within domestic paradigms of national governments and international policies on monetary relations. In identifying the major analytical arguments, theoretical approaches, and empirical

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The Political Economy of International Trade

Research Question of the Article: The author, Helen V. Milner seeks to explain the major factors, structures, concepts, theories, and important data that help in explaining the rise in international trade in a few decades before the writing of the research article under review. Moreover, the author has tried to solve the puzzle of barrier-free exchange of goods and services amongst various nations with the help of three points. Apart

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Monetary Policies Implementation

Example 1 Expansionary monetary policy is implemented when it is required to increase economic activities and consequently the GDP. An example of the monetary policy includes the “Great Recession of 2007-2009” when the Federal Reserve reduced the interest rate from 5.25% to 0% in 2008 to increase the money supply in the market (Hussain, 2020). Although the Federal Reserve utilized all the tools of expansionary policy to combat the recession,

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Monetary Policy and its Impact on Economic Stabilization

Introduction Monetary policy is utilized by the government for money management through the central bank that impacts macroeconomic objectives such as high level of employment, price stability, the balance of payment and sustainable economic growth, etc. As described by Gnahe & Huang (2020), the monetary policy defines certain measures that regulate the cost and supply of money based on the level of economic growth and development in the country. In

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GDP Growth Rates

The most recent data available regarding the GDP growth of different countries on the World Bank’s data site is for the year 2019 which shows the GDP growth rate of China, the UK, Japan, and the USA as 6.1%, 1.5%, 0.7%, and 2.2% respectively (GDP growth (annual %) | Data, n.d.). The data indicates that China is among the fastest-growing economy in the world leaving the US behind. However, the

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Application of Economic Reasoning in Daily Life

Introduction There are many factors like the demand-to-supply ratio, available resources, employment, etc. decide the economic behavior of the market and the individuals’ choices regarding their consumption in a society. These economic indicators help economic players to decide their specific actions to optimize their profit either in terms of money, time, or any other preferred advantage and personal satisfaction. It is also not possible for anyone to avoid reason or

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Health Care Policy and Economics

All organizations require funds to perform their activities, efficient management of funds is essential for the survival of organizations. Health care organizations receive funds either directly from their patients or through third-party reimbursement. In the USA health care organizations are paid by government programs including Medicare and Medicaid, and some private health insurance plans. Health care is one of the expensive sectors around the world, the US government spends trillions

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The Development of the American Economy

The end of civil war in the United States comes with the enormous industrial and developmental change. These developments have eternally ended the slavery across the America, which had deeply subjugated in numerous states of America. The development and growth of more and more industries and the beginning of huge amount agricultural forming through automation and the construction of railroad led towards the extension of large scale businesses towards the

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Managerial Economics

Introduction Monetary advancement has broadly been viewed as a noteworthy target of the financial technique, yet in current years a few people have begun to improve endeavors nearby the material way of life, saying that this expansion will little improve welfare. This contention depends on significant discoveries as of late. Writing on abstract prosperity, called the “Easterlin Paradox,” demonstrating that there is not at all any link between the degree

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What is a “colonial” economy? Why did many southerners and westerners believe their regions were colonial economies?

The colonial economy is a system whose main responsibilities are the consumption and production. This concept is initiated by the colonists in the different colonies all over the world. The purpose was to fulfill the economic demands of the community which included the area of investment, raw materials and the settlements. The basic living style was also considered for example the agriculture, transportation, mining, communication, trade and commerce.

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Borderless Economics by Guest, Robert Analysis

Introduction Explaining the fruits of the globalized world, Robert Guest in his book revealed after a variety of visits in different states of the world that immigration has far righted effects on the life of individuals living in native and foreign nations. He argues that international connections and linkages have promoted the growth of those nationals that were living in poor condition. The writer finds it very easy that immigrants

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