This article carriers on from the one on Shopping In Chinese and Can You Count In Chinese? The unit of currency in China is called Kuài, as such the units of currency in China are: Yī kuài (1), wǔ kuài (5), shí kuài (10), èrshí kuài (20), wǔshí kuài (50), and yī băi kuài (100). … Continue reading Qǐng wèn, … duōshao qián?
A textbook definition of macroeconomics says that “[it] is the study of the economy as a whole, including growth in incomes, changes in prices, and the rate of unemployment.” (Mankiw, 2010) Extending over global, regional and national economies. Economists advise on policies for the government regarding important economic indicators. Macroeconomics though can often cause mistakes … Continue reading What is Macroeconomics?
This article is a summary of the views expressed by Robert Higgs in his article Recession and Recovery: Six Fundamental Errors of the Current Orthodoxy. And how the article compares to the approach taken by Gregory Mankiw in his well known textbooks along with Keynes theories as their arguments can contradict themselves for the following … Continue reading Recession & Recovery – Robert Higgs
The inflation rate is a measure of the increase in asset prices, measuring the percentage change in the average price level from the previous year. Where a positive inflation rate means rising prices, a negative inflation rate means falling prices, and a declining positive inflation rate means rising prices at a slow rate. Inflation can be … Continue reading Inflation
Calvin Coolidge the 30th President of the United States, he is well-known as a promoter of Libertarian ideals as he favored lower taxes and small government. Though, he was part of the inflationary low-discount rate policy under the Harding and Coolidge administration. When he said “inflation is repudiation” he meant the government repudiates their debt. … Continue reading Calvin Coolidge “Inflation is Repudiation”
The Reserve Bank of Australia (RBA) was created by the Reserve Bank Act 1959 as “Australia’s central bank, which is responsible for managing the Commonwealth’s monetary policy, ensuring financial stability, and printing and distributing currency.” (Reserve Bank of Australia, 2011) This article in explaining the premise of the RBA and monetary policy will consider … Continue reading Monetary Policy and the Reserve Bank of Australia