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Topic 1: question 1

Most are the times that culture and science do not agree on several issues and the only way forward is to find a compromise between the two given the fact that they are both important to the human race. In the first case, I feel like the local tribes should be given a chance to bury the remains of their ancestors widely referred to as Kennewick Man primarily because culture is so dear to the Indians and it is a sign of respect to the ancestors. The bones should be reburied by the concerned tribes. On the other hand, I feel that it is not necessarily important to return some of the artifacts and bones to their original countries, mainly because by being preserved in other countries, opens a door and a platform for other cultures and people to understand the culture of that particular region.

Question 2

Some of the criteria that should be added to ensure that the research is conducted in a moral and ethical manner include:

  1. Maintaining respect and confidentiality – given the fact that the bones may reveal secrets of a particular tribe, the scientists have the moral duty to ensure that they do not infringe the privacy and confidentiality of the concerned tribes.
  2. Following informed-consent rules – when done properly, the consent process ensures that persons are voluntarily participating in the research with the full knowledge of relevant risks and benefits(Sargent, 2013).

 

 

Topic 2

Question 1

Despite the strong correlation between unemployment and underemployment, there is a slight difference between the two.  Underemployment occurs when people in a workforce are employed at less than full-time or regular jobs or jobs, inadequate in their training and economic needs while unemployment occurs when individuals with the necessary skills to perform a task fail to secure a job. Some of the possible costs of unemployment include deterioration of the living standards in a country, increased crime, low savings and poor diet. On the other hand, underemployment is likely to bring underutilization of skills and labor in a country, underutilization of economic resources and underuse of the employed labor force.

Question 2

Some of the possible ways to solve underemployment problems in a country are by increasing government spending in that particular area which in turns increases the amount of money in circulation, and thus individuals can invest. Moreover, offering training can be a good step forward considering that now people can possess the necessary skills to start their private entities and become full-time employees (Ormerod, 2013).

Question 3

Some of the possible types of unemployment that a country may face include:

  1. Seasonal employment
  2. Cyclical unemployment
  3. Voluntary unemployment
  4. Involuntary unemployment
  5. Disguised unemployment

However, seasonal unemployment is hard to control given the fact that the government or other agencies have no power to control the seasons.

Topic 3

Some of the possible costs of inflation include reduced international competitiveness, causes confusion and uncertainty in a country’s currency and economic policies and causes booms and bust economic cycle in a country.  On the other hand, deflation is likely to cause a reduction of the level of employment as a result of wage rigidity, underutilization of a country’s input and poor distribution of wealth from borrowers to lenders.

Question 2

The policy makers need to tame inflation in a country to maintain their competitiveness in the foreign markets, maintain a stable economy by maintaining an appropriate employment level as well as minimizing losses of their outputs regarding labor and resources (Ormerod, 2013).

Question 3

A little inflation is good for any economy, but it becomes a problem when it is unexpected, or it is very high as people are afraid of spending their money thus halting the economic growth.

References

Ormerod, P. R. (2013). Inflation/unemployment regimes and the instability of the Phillips curve.              . Applied Economics, 45(12), , 1519-1531.

Sargent, T. J. (2013). Rational expectations and inflation. . Princeton University Press.

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