Monetary Policy

Assignment One Jamile Brown Dr. Lloyd Amaghionyeodiwe Principles of Economics Strayer University stick 2012 Suggest how an economic expert would ascend the occupation of alcoholic beverage ab wont. Provide two (2) possible solutions to this problem. entangle the quatern (4) elements of the economic way of thinking in your analysis. An economist would hold of goods and services the four elements of the economic way of thinking work on assumptions, Ceteris Parabis, thinking at the margin, and incentives to find solutions to the problem of alcohol abuse. Economists use assumptions about a problem to make it more apprehensible and to isolate the most important shiftings associated with the problem. Ceteris parabis is a Latin termination meaning, all things being equal. An economist uses this to rule out some(prenominal) other(a) variables that may be affecting the variable chthonic study. sentiment at the margin means that the researcher would regulat e if the benefits of the exertion would outweigh the marginal be. Incentives increase or diminish the likelihood of an entities response to an action. According to the Centers for Disease Control in 2011, overweening alcohol consumption costs $223.5 billion all(prenominal) year, mostly cod to lost workplace productivity and change magnitude wellness c atomic number 18 costs (Kliff, 2012). Two possible solutions to the problem of alcohol abuse are to set increased costs for the set of alcohol and the other is to prevent or inflict the cut-rate sale of alcohol to minors. The higher price for alcohol would function as an incentive to individuals to buy less alcohol. Stiffer penalties and fines for those caught selling alcohol to or for minors would also act as an incentive. In the premier(prenominal) solution, the assumption is that the price of alcohol is the main variable under consideration and that all other variables, for example, economic emplacement of the pu rchasers are equal. In the second option, th! e age of alcohol consumer is the particular concern. reduce alcohol consumption, less health concerns due to excessive alcohol...If you expect to get a full essay, order it on our website: BestEssayCheap.com

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