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Do you think that "culture" was a big underlying driver of the global economic crisis? comparing the Indian population to the UK and US population and basing this on the origin of the crisis as bad debt due to sub-prime borrowers, India was much less hit. Gokay (2009), sites that the population in the US and UK were driven by consumerism and this kept them borrowing with the inaccurate security that the homes they bought would be worth much more hence they were actually "rich". Playing on this "demand" the banks created products that would make access to funds easier if not seamless and they lowered the vetting criteria for borrowers.
The banks and other financial institutions were also driven with a consumerism of their own in the sense that they thought that if the debtors could not pay, then the bank would simply sell them off and make a handsome profit. Due to their interconnectivity, this practice spread from the US to the UK.
Indian population on the other hand are "debt averse" as Thakur, and Antony (2012) state in their article. Due to this cautionar y nature and the fact that most Indian borrowers like to repay in the shortest time possible, there is growth in the mortgage business rather than a slump as experienced in the US and UK. What do you think about this perspective?
What would be the price of steel in the United States if a policy of "self-sufficiency" were established and no imports were allowed? How many tons of steel would be produced?
Assume the U.S. and Canada are hit by a negative aggregate supply shock and suppose real wage are flexible in the U.S. but rigid in Canada. Use the labor market and the production function to describe the effect on employment.
The US government has two different methods to deal with illegal drug use. First, the government has tried a "war on drugs", with the idea of keeping illegal drugs out of the country. Second, the "just say no" campaign has been used to make indivi..
Calculate the forward discount or Premium for Mexican peso whose ninety day forward rate is $.102 and spot rate is $ .10.
for most purposes, money lowers the cost of making transactions relative to barter-the direct exchange of one good or service for another. However, barter has not disappeared, even in an advanced economy such as that of the United States. Can you ..
a. Why would it be counterproductive for the Bank of Canada to fix the value of the exchange rate b. What is the effect of this policy on the interest rate in the long run How do you know
Majestic Manufacturing sold Jordans Furniture a living room set for an $8,500 list price with 35% trade discount. The $100 freight (FOB shipping point) was not part of the list price.
In the US health insurance reform of 2010, every individual is entitled to get an insurance contract, with possible government subsidy if it is not profitable for the private companies. Discuss the consequences for the insurance market of the refo..
Business Suppose the government of South Island has fixed the value of its currency, the Islandia, at $0.50 per Islandia, but the market equilibrium value of the Islandia is $0.75 per New Peso. In order to maintain the official value of the Isla..
In an effort to encourage free trade, imagine that the members of the World Trade Organization agreed to dismantle all tariff protection of domestic industries in their respective countries. Do you think that such a commitment will necessarily resu..
Greece is currently in an unsustainable fiscal situation with rapidly increasing government debt. This can be handled in three ways: (i) a drastic domestic fiscal consolidation; (ii) official financial assistance from other euro countries; and (ii..
Discuss each of the six indicators, and explain its current status. In addition, present a separate graph for each indicator illustrating the historic trend for each.
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