Question

Economics Question :

1. Should there be restrictions or caps on trade and other aspects of globalization?
2. Do you think that these cycles are really valid?
3. Where are we now?
4. What is/will pull us up?
5. What is/will pull us down?
6. Is IT our way to move up in the cycle?
7. How do you judge truthfulness or reliability of information?
8. Which sources do you think are most accurate?
9. Will the growth of the Internet and growth in number of users make this problem worse or better?
10. Do you think that UBI would work in the US?

11. 15. Could we do more of the Nordic model here in the US?

Answer 1

a. Some of the restrictions in the initial stages of trade are acceptable to protect the infant firms from competition from outside countries having more technological growth and skilled labor. however, in the long run once the infant firms become competent enough then the restrictions should be removed.

b. Yes, the cycles in the economic activity are valid because differences in the GDP lead to these cycles which determine the phase of economy.

c. Currently the economy is growing and unemployment rate is falling and thus the economy is on the expansionary path. Thus, expansion is seen currently in the economy.

d. Since currently we are in the expansionary phase of the business cycle, thus we do not need any expansionary intervention right now as it will lead to increase in inflation rate in the economy.