It is important to note that China's GDP is larger than its national income. Due to the lack of adequate technology and the rights of patents many of the Chinese are often at the lower end of the value curve for manufactured products. They use unskilled labor and low technology...

Sinking deep into a profoundly-complex framework of economics, no one can fail to note that it gravitates largely towards the relationship of production and distribution with reference to commodities trades being placed in the market. Of all the concepts of economics, it would be reasonable to place special emphasis upon...

The Great Recession that started in December 2007 and ended June 2009 was the worst economic recession since the Great Depression of 1929. The economy endured economic contraction as the financial and housing markets nearly collapsed. The scope of this recession went beyond the United States, since the global economy...

Abstract In the United States, the economy is subject to a number of rules and regulations on the part of the Federal government. In principle, such governmental interference in the economic affairs of the people was unintended by the Founding Fathers, who clearly wanted the nation to have a pure...

Prior to taking this course, I believed that economic theory consisted mainly of supply and demand. While this is a significant component of economics (Acemoglu, et al., 2017), there is much more to the topic than my original simple understanding: as supply goes up, prices go down, as demand goes...