Fiscal and monetary policy theories and application Essay

Fiscal and monetary policy theories and application - Essay Example Fiscal policy entails the processes through which the government achieves major economic goals through taxes and government spending. The government collects tax and spends it to achieve economic development. Taxation is one of the key avenues though which governments collect revenues from local and foreign residents. Three main aspects that make up fiscal policy include consumption, investment and government spending. In this sense, the government relies on the three aspects of demand to achieve desired economic goals. The desired economic goals include full employment, price stability, economic growth, and maintenance of a favorable balance of payment, The three aspects add up to determine the equilibrium level of the gross domestic product. On the other hand, monetary policies refer to the manipulations of interest rates and money supply to achieve various economic ends. The economic ends are similar in the sense that they entail full employment, economic growth, price stability, and a favorable balance of payment. This suggests that the fiscal policies and the monetary policies possess the same goals. In the regulation of the money in circulation, central bank adjusts the interest rate that entails the price of borrowing money. In the history of economics, different schools of thought vouch for different policies. The fiscalists rely on the Keynesian school of thought in stabilizing the economy. This school of thought believes that fiscal policies are the only effective measure of instigating economic growth during a period of recession in a country. In turn, monetary policies are ineffective in stirring economic growth during a recession in a country.

Stanley Miller Paper Coursework Example | Topics and Well Written Essays - 500 words

Stanley Miller Paper - Coursework Example This is because a concentrated solution would respond better than a dilute solution with diffuse molecules. IX. Paper chromatography is a method of separation and identification of compounds. It utilizes the principle of capillarity and also solubility (to facilitate separation). Colour is often used to allow the identification of compounds. The properties include; molecular weight, structure, shape of the molecule, and the polarity of the molecule. XII. He was able to tell the presence of the amino acids by the ninhydrin indicator. For their individual discrimination, he used comparison of spot size and colour to known templates of characterized amino acids. XIII. Miller knew the total yield was in the milligram range by informed inference. Knowing that the system was closed, the total mass of reagents remained the same (gases included). By weighing the remaining fractions in the flask, and subtracting impurities by silica, he may have obtained a rough idea of the amount. That is; total mass of reagents (minus apparatus) = Amino acids mass + remaining reagents(minus impurities). It though may not be entirely accurate, as the amino acids existed in aqueous state, thus requiring the factoring in of water of dissolution. XV. His experiments did test his hypothesis. Though not accurate in the reproduction of the original setting of primitive earth, they showed that indeed it was possible that the primitive atmosphere contained the right inorganic molecules, the right conditions and the right amount of energy to produce organic molecules. XVI. A good experiment to do next would be one on synthesis of nucleotides. If amino acids could be produced, then similarly, nucleotides might also have been produced, sparking the beginning of biological