Question

In: Economics

1: Given the increase in population in the last 10 years, how do you explain the...

1: Given the increase in population in the last 10 years, how do you explain the price decline in commodities?

2: Describe the various ways immigrants can legally enter into the United States.

3: What is President Trump’s healthcare proposal for the 2020 reelection? (6 bullet points) What could he apply from the Singapore healthcare system?

4: Define skill transferability. How does this apply to migrants entering into the United States?

5: Based on the documentary “Living on one dollar” Suppose that Anthony and Rosa came to spend some time in the US. Describe the situation and make a comparison of what they will find in the US as a low-income family vs. what they have in Guatemala?

Solutions

Expert Solution

Answer to Question 1)

Due to the rapid increase in population the resultant is that the demand for goods and services in the economy grows. This in the last 10 years has also supplemented the fact that technology has highly reduced cost of production as well as increased profits and output for a firm.

A large portion of the population is available and ready to work, thereby increasing the labour supply and effecting supplies also. As demand for product and supplies both rises, the prices begin to fall.

Many companies today therefore target at mass pricing a product and making it readily available to large sections of the society to gain maximum profits. Thus, we can conclude by saying that increase in production capacity and demand for goods and services backed with technological advancements have been the core reason for decline in price levels in any economy.

The prices primarily decrease because change in demand is also backed by change in productivity levels in the country.

Please feel free to ask your doubts in the comments section.

Rahul Sunny answered 7 months ago
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