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(April 04, 2007) Rising house prices increase consumer wealth and are likely to be associated with an increase in mortgage equity withdrawal. Mortgage equity withdrawal means people remortgage and take out a bigger loan against the value of their house. It means they have more money that they can spend and this ..
(April 02, 2007) With growth forecasts in the UK currently of 3% it seems highly speculative to start talking of a recession in the UK. However there are certain factors that cause an element of concern. Reasons for Recession 1. Fall in the Savings Ratio. Excluding pension contributions the UK savings rate has ..
(March 15, 2007) The principle of free trade is based on the law of comparative advantage. The law of comparative advantage states that if countries specialise in producing what they have a relative advantage (lower opportunity cost) then there will be a net gain to society. This essay is an explanation of the ..
(March 03, 2007) A budget deficit occurs when Government spending is greater than tax revenues. For political reasons a budget deficit often occurs. Politicians never gain votes by raising taxes and cutting spending. With many major World economies facing a large budget deficit. It is worth considering the main ..
(March 03, 2007) 1. Frictional Unemployment: This is unemployment caused by people moving in between jobs, e. g. graduates or people changing jobs. There will always be some frictional unemployment. Also high benefits may encourage people to stay on benefits rather than get work this is sometimes known as ..
(March 03, 2007) A current account deficit on the Balance of Payments means that the value of imports for goods and services is greater than the value of exports. The US currently has a very large current account deficit, roughly between 6-7% of GDP. This deficit threatens to cause a significant devaluation in the ..
(February 11, 2007) Thomas Jefferson requested that on his tombstone he should be remembered for 3 things 1. Author of the Declaration of Independence. 2. Passing the statute of Religious Freedom in Virginia. 3. Founding of the University of Virginia. These were perhaps his most significant achievements but there ..
(January 30, 2007) Getting along with other people is one of the most important things we can do. If we have harmony with our family, friends and work colleagues; it will make life much more peaceful and enjoyable. Despite the importance of cultivating harmony in relationships, often it is something that we do not ..
(January 22, 2007) Abbe Pierre lived a varied and remarkable life, he was frequently voted to be the most popular man in France. As a young man he spent several years in a Christian monastery, however he felt increasingly called to a more active role so left to become a parish priest. During the Second World war he ..