Alexander Hamilton's economic plan included fiscal policies favoring wealthy groups lending the government monetary and political support. By doing this the upper class would be able to grow, thus allowing lower classes to prosper as well.Know More
Alexander Hamilton favored a little bit of debt, thinking that it was a good thing to have. The federal government took over the national debt in 1790 by taking responsibility of all state debts. To pay off the debts inquired, Hamilton imposed an eight percent tariff on imports, as well as an excise tax on a handful of domestic items.
One of the most important pieces of Hamilton's economic plan was the creation of a national bank, which Jefferson kept open once he became president. This helped establish a financial system in America that set the tone for years to come.Learn more about Economics
Economic diversity is a multidimensional concept that includes the products, workforce skills and capabilities in a local economy, in addition to how well that economy is able to compete in the global marketplace, according to Economic Modeling Specialists Intl. While income is an important part of economic diversity, the concept involves much more.Full Answer >
Economic viability is when a project proves to be economically feasible, innovative and sustainable in terms of investing financial resources into the project. Funding for the project must be compatible with the demands and constraints that occur during the project's life span.Full Answer >
Economic disequilibrium is a state where market equilibrium is unreachable due to internal or external variables. Disequilibrium can also occur when internal or external variables result in a disruption to the balance in the market. It is also a result of long-term structural imbalances or short-term changes in market variables.Full Answer >
An economic map is a map that illustrates various economic activities or phenomena that take place in a particular area. This type of map features a variety of symbols and colors referring to particular economic activities.Full Answer >