Economics

Name Professor Course Date Blemish in Macroeconomics Lanchester’s work addresses what has been happening in the macroeconomics sector over the past few years. Economists were terrified of what the implication of Brexit. Head of international financing agencies such as the IMF suggested that the impact of Brexit would either be mild or severe. According to the Bank of England, there would soon be an upward trajectory in unemployment and a reduction in the gross domestic product. Surprisingly what transpired in 2016 was Britain witnessing a paramount advancement in its economy. Pessimists have claimed that the effect Brexit is not averted but instead postponed. Doomsayers include John...

Student’s Name Professors Name Course Date Article Synopsis Heuristics in psychology refer to a framework of rules which play a significant role in guiding the decision-making process of an individual. These can be defined as mental shortcuts which make the judgment a lot easier through focusing on the critical elements and ignoring the issue that seems less important (Volunteers, Wikipedia). These simple rules are quite essential in judgment and decision making, but they can lead to deviations from logic, probability or rational choice theory. Cognitive bias develops from such deviation, and it has adverse effects on individual decision making whereby a person can make a series of bad...

Student’s Name Instructor’s Name Course Date Application of Events in Predicting the FutureTaleb argues that initially, people believed that all swans were white before the discovery of Australia and the belief was backed up by scientific evidence (Taleb n.p). In this regard, the writer implies that observation and experience are significant aspects of our learning and the fragility of knowledge. As such, a single observation can overturn a conviction resulting from the confirmatory sighting. According to Taleb, a small percentage of black swans reveals almost everything from religions, historical dynamics, the success of ideas, and various elements of our personal lives. Due to the...

Canada and the U.S Economic Analysis Name Institution Canada and the U.S. Economic Analysis Canada and the U.S derive their economic strengths from their rich possession of natural resources. According to Worldatlas (2018), Canada’s value of natural resources ranked fourth in 2016 and that gives it a great economic age over many world economies. Another economic strength of the United States and Canada is their highly developed export-based manufacturing and resources. While Canada ranks as the fourth largest petroleum exporter in the world, U.S is one of the prime exporters of machinery and minerals. On the other hand, while Canada's primary economic weakness is the fluctuation of its...

Name: Instructor: Course: Date: Starting a small hand-made candy business requires fewer resources, and labour is readily available. However, starting a car wash will require a large amount of water, an aspect that will raise the costs of operations. Furthermore, different regulations will affect the operations of the business. The time required to run the business is also scarce. As a result, starting a candy business would be the best alternative because it requires less initial capital and labour. Groceries take a large segment of the family income. However, $8000 would be required to enable me to start a small business which will help me take care of my personal needs as well as those of...