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2.demand-pull inflation is associated with buoyant trading conditions and sellers' markets where the risks of trading are greatly reduced. these easy market conditions might give rise to complacency and inefficiency since the competitive pressures to improve both product and performance will be greatly weakened. this is not likely to be the case in a cost-push inflation where trading conditions are likely to place a premium on greater efficiency. where firms cannot absorb some of the higher factor prices by improving productivity they may find it difficult to survive. it is possible that employers seeking to hold down costs will react to rapidly rising wage cost by devising means of economizing in their use of labour and hence raise the level of unemployment.
demand inflation, it is sometimes argued, is conductive to a faster rate of economic growth since the excess demand and favorable market conditions will stimulate investment and expansion. the falling value of money, however, may encourage spending rather than saving and so reduce the funds available for investment. it may also lead to higher interest rates as creditors demand some additional return to compensate for the falling value of money. nevertheless relatively high nominal rates of interest may not be a deterrent to investment. if the nominal rate of interest is 10 percent, but the rate of inflation is 8 percent, the 'real' rate of interest is only 2 percent.

3.in economies such as the uk which are dependent upon a high level of exports and imports, inflation often leads to balance of payments difficulties. if other countries are not inflating to the same extent, home-produced goods will become more competitive in the home market. exports will be depressed and imports will rise. if this process continues it must lead to a balance of payments deficit on the current account. the problem will be a particularly difficult one where inflation is of the demand-pull type, because in addition to the price effects the excess demand at home will tend to 'draw in' more imports. these balance of payments effects apply particularly where a country is operating a fixed rate of exchange. a floating rate of exchange means that the rise in home prices does not have such an unfavorable effect on the volumes of exports and imports.

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Pisos1337228

07.09.2020 10:54

It was Newton who formulated the basic concept that light from ordinary sources is complex. By "complex" he meant that such light could be analysed into colours and the colours could be used to synthesize light.

How does laser light differ from ordinary light? In brief, it is much more intense, directional, monochromatic and coherent.

We know the light emitted by an ordinary source such as candle or an incandescent lamp to consist of uncoordinated waves of many different lengths, that is, it is incoherent and more or less white.

The scientists found the waves of laser light to be coordinated in space and time and to have nearly the same length. This coherence and chromatic purity and also intensity of laser light result from the fact that in a laser excited atoms are stimulated to radiate light before they have had time to do so spontaneously and independently. The directionality of laser light arises from the geometry of the laser. These properties of laser light suggest many uses for it both in technology and in physics. The scientists consider laser light to be different from ordinary light even when it merely illuminates a surface. The surface looks grainy and sparkles.

By means of some instruments it has become possible to examine materials and physical phenomena in new ways. Among the most interesting applications of the laser the probing of materials by the study of their scattering of light should be mentioned.

The laser is being applied to probe the internal structure and behaviour of molecules by examining the light-scattering phenomena. Many investigators are working at the development of coherent light sources, those ones whose wave-length can be changed. Many amplifiers and oscillators have been constructed for this purpose lately.

Laser light is applied in many fields such as medicine, biology, industry and so on. We can say scientists made laser light serve man.

The scientists found the energy density of the image formed by a lense in a laser beam to be used to heat, melt or even vaporize small areas of any material. Laser is also used to pierce holes in diamond.

Nowadays laser can be used to cut a wide range of materials including wood and paper.

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