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Influence of Inflation in the determination of the following:

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  • 30-04-2009 8:17pm
    #1
    Kamaldihnio
    Closed Accounts Posts: 243 ✭✭


    What Influence does inflation have in the determination of

    i) National Wage Agreements

    ii) Competitvness in the economy

    iii) Social Welfare Benifits

    Ok I am making real progress today and would appreciate if I was not shot down here. If mods want to delete or lock my other posts, go for it.

    I know it makes our economy uncompetitive and I have rough ideas of the other 2 but not enough info on any to properly answer the question. I am reading John Sloman Economics 6th edition and browing the web for explanations and info but am not having any luck. I know you guys would be able to answer this in 5 mins.

    If you could just briefly explain the above Id appreciate it!


Comments

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    #2
    [Deleted User]
    Posts: 5,589 ✭✭✭ [Deleted User]


    Ah here come on now!

    How many threads have you started today?


  • Options
    #3
    Kamaldihnio
    Closed Accounts Posts: 243 ✭✭Kamaldihnio


    I tell you what, it doesnt matter, ban me from Economics, you's are mad, no wonder you have about 10 people here all day.

    Didnt read the rule book about not being able to create threads, also did it ever occur to you that other people might have found the answers benificial?

    Or does every question have to be advanced.

    Im outta here!


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    #4
    Flamed Diving
    Closed Accounts Posts: 6,609 ✭✭✭Flamed Diving


    Kamaldihnio wrote: »
    What Influence does inflation have in the determination of

    i) National Wage Agreements

    ii) Competitvness in the economy

    iii) Social Welfare Benifits

    Ok I am making real progress today and would appreciate if I was not shot down here. If mods want to delete or lock my other posts, go for it.

    I know it makes our economy uncompetitive and I have rough ideas of the other 2 but not enough info on any to properly answer the question. I am reading John Sloman Economics 6th edition and browing the web for explanations and info but am not having any luck. I know you guys would be able to answer this in 5 mins.

    If you could just briefly explain the above Id appreciate it!


    i) The price of everything keeps rising. Unions get pissed off cause they cant afford new stuff. Unions demand more money. Unions get more money thus driving up inflation. Repeat.

    ii) American companies invest in country because it has low prices and hence, low wages. Economy grows because of inward investment. Wages rise because of this. Price of everything begins to rise. Scenario i) above kicks in. American companies stop investing in country because it now has high domestic prices/wages relative to other countries. Investment leaves country for cheaper country.

    iii) Exactly the same as i), except replace 'new stuff' with 'minimal consumption' and 'Unions' with 'Wasters'.

    Fin.


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    #5
    regob
    Registered Users Posts: 1,418 ✭✭✭regob


    Kamaldihnio wrote: »
    I tell you what, it doesnt matter, ban me from Economics, you's are mad, no wonder you have about 10 people here all day.

    Didnt read the rule book about not being able to create threads, also did it ever occur to you that other people might have found the answers benificial?

    Or does every question have to be advanced.

    Im outta here!

    i used to be you notg as severe a while ago on this forum, then i realised i should be learning this myself, uve been taking the piss, its a discussion forum not a question and answers, put some explanations behind your questions, e.g. wats your thoughts on it, just dont be putting up questions.

    and second of all once somebody takes the time to help you out have some manners, a please and a thank you would go along way


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