Nobody downloaded yet

Mr./Ms. Economist, What is going on in the economy and how will this effect our business in our state of Ohio What should be d - Essay Example

Comments (0) Cite this document
Summary
Introduction Economic situation in the country may be not encouraging however; it is not entirely discouraging as the recent performance does not show a bleak situation. Business cycle is an economic phenomenon which causes up and down movement in the economic activity on periodic basis…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.7% of users find it useful
Mr./Ms. Economist, What is going on in the economy and how will this effect our business in our state of Ohio What should be d
Read TextPreview

Extract of sample "Mr./Ms. Economist, What is going on in the economy and how will this effect our business in our state of Ohio What should be d"

Download file to see previous pages (Moffatt). Recession occurs when a contraction is relatively harsher and is prolonged for more than three quarters. It is also however important to understand the difference between the recession and depression before one can comment on whether the economy is sliding towards depression or in recession. In US, National Bureau of Research determines whether the economy is sliding towards recession or not. A closer analysis of the data would suggest that the unemployment level is at 9% during the month of October which has slightly changed as compared to the previous month. (Bureau of Labor Statistics). What is critical to understand the overall inflation is decreasing while unemployment level remained relatively at same level. A low inflation rate therefore can continue to encourage customers to increase their spending and resultantly increase the aggregate production within an economy. In this paper I will discuss as to what is going on in the economy and how it is going to affect the business in Ohio State. Besides, what actions can be taken to improve the situation? What is happening in the economy? There are two important factors which outline the overall nature of the economic activity and its direction within an economy i.e. productivity as well as the unemployment level. The level of unemployment within US economy has been on the higher side since the economic downturn which started during 2007. The current figures suggest that the unemployment level in US is 9% which is relatively on the higher side but is on decline. The productivity has improved too from 0.1 to 2.3 from 2nd quarter of 2011 to 3rd quarter of 2011. Such a high increase in productivity therefore outlines that the US economy is relatively picking up and can make a strong rebound in a near future. Data suggests that the gross domestic product rose by 4% 1during the second quarter of 2011 showing a recovery from the previously depressing situation. A positive increase in gross domestic product therefore can be considered as one of the key signs of economic recovery as well as the improvement in the essential economic indicators. These indicators suggest that the economic at the domestic as well as at the global level is not going through the depression but rather it is showing the signs of recovery and can kick start a new phase in the global economic history. Unlike the depression of 1930’s the overall situation currently is not that same because indicators are relatively showing a different figure. (Smiley) Total level of unemployment within Ohio State as of Oct 2011 is 9% which is similar to what US economy as a whole is experiencing. It is however, important to note that the unemployment has reduced by 0.1% as compared to August 2011 suggesting that the Ohio economy, though is undergoing economic downturn, but is also slowly making a recovery.2 Given the overall economic situation of the country, Ohio State may find increase in unemployment rate. A higher unemployment rate often reduces the demand for goods and services because of the decline in the income level. As such business may, at one hand, can find skilled labor at relatively lower cost but can also find itself in generating the demand because consumers may not be willing to spend much due to their low levels of income. What needs to be done? In order to improve the situation and generate the necessary demand, it is important to ensure that inflation remains at low level. Low of demand can only stimulated if the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Mr./Ms. Economist, What is going on in the economy and how will this Essay”, n.d.)
Retrieved from https://studentshare.org/macro-microeconomics/1437529-mr-ms-economist-what-is-going-on-in-the-economy
(Mr./Ms. Economist, What Is Going on in the Economy and How Will This Essay)
https://studentshare.org/macro-microeconomics/1437529-mr-ms-economist-what-is-going-on-in-the-economy.
“Mr./Ms. Economist, What Is Going on in the Economy and How Will This Essay”, n.d. https://studentshare.org/macro-microeconomics/1437529-mr-ms-economist-what-is-going-on-in-the-economy.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Mr./Ms. Economist, What is going on in the economy and how will this effect our business in our state of Ohio What should be d

Our Word is Our Weapon

...?Our Word is Our Weapon: Selected Writings by Subcomandante Insurgente Marcos The selection of the works of Subcomandante Marcos wades through the inhospitable territory of subjugation in the wake of the twenty first century that is based largely on ethnic affiliations as well as the actions of a larger neighboring power. The author is himself unknown except for his adopted title Subcomandante and his adopted name Marcos. Little is known about the author except that he hails from an urban background and resides in the poor Chiapas region of Mexico that is inhabited largely by the ethnic Mayans. The book penned by the author offers valuable insight into the problems being faced by ethnic Mayans from the...
3 Pages(750 words)Book Report/Review

Our Biosphere, Our Future

...Our Biosphere, Our Future What would the future be like for the next generations if we do not change the way we treat our planet now? A concern for future generations should motive us against any future encroachments against nature. To examine this, we will specify the problem, offer solutions, consider ethics, and propose measures. The central problem is the way we abuse nature will use up her ability to bounce back. Future generations may not be able to enjoy opportunity for healthy lives simply because we are not using our planets resources wisely. Without clean water, clean air, clean food, and an environment free of toxins, the likelihood that people...
1 Pages(250 words)Essay

Our modern German state

...international recognition. Although these ideas have since altered our concepts of living space and the design of objects for everyday use, they were in direct opposition to the type of art and expression that fostered the Nazi worldview. Into this environment stepped Adolf Hitler, a man who had a ruthless drive for power and who had been rejected by the traditional art schools of Vienna and elsewhere. With the power he craved in his hands, Hitler set out to reinvent the artistic world to more accurately reflect his classical ideals. However, that wasn’t exactly how he presented his case to the public: “Our modern German state […] has brought into existence the...
35 Pages(8750 words)Dissertation

How have oil prices affected our economy

...of money. If expansion was a boom before 1999, companies now have opted for downsizing instead to cut on losses and other incidental expenses. More than a third of managers and executives who participated in a survey are aware that it is the rising oil prices that are holding back revenue growth, new jobs and a boom in investments (Taub, 2005). People are more and more afraid of letting go their money on something they are not sure of getting back. However, one can observe effects on investments in times of this crisis (“Inflation,” 1995) as it has been fluctuating up and down. Changes on planning for the future is evident as one is left to ponder what money can buy in their future and luxury items are...
3 Pages(750 words)Essay

Our Bodies, Our Technologies

..., is human species really thinking about the burden they are putting on the planet and nature? Is human race lost in the technical world that has closed the doors to think beyond the technology? Is human race able to justify the rule of nature? Being immortal and creating the world devoid of disorders with just touch of a button, is going to validate the technical advances? (2045: The Year Man Becomes Immortal). References Arguments for Green and Gray Future. Available at http://www.kurzweilai.net/arguments-for-a-green-and-gray-future. [Accessed on 27th September 2011] . Our Bodies, Our Technologies: Ray Kurzweil. Available at...
1 Pages(250 words)Essay

How is Walmart effecting our economy

...How Wal-Mart Affects Our Economy al Affiliation How Wal-Mart Affects Our Economy Wal-Mart is the largest corporation internationally due to its vast revenues and big number of employees in the world. Wal-Mart has a wide range of products sold at lower prices than many other retailers. Wal-Mart also employs the highest number of local workers and also generates significant assets tax and sales tax revenues for the local society. This has led to Wal-Mart significantly affecting the economy as a whole. Effects on Consumers The effectiveness with which Wal-Mart unites its producers with the...
2 Pages(500 words)Essay

How did psychology effect our personally

...own self as and when required. It has consequentially allowed me to grow and develop my own basis with the passage of time. I would like to suggest in the end that psychology has affected me on a very personal level as it has touched upon areas which have meant a great deal of success for my fore. It has made me realize how I can attain success within the toughest of times and how I can change my course as and when needed (Furnham, 2007). In essence, my psychology of life is elaborately drawn up and gives me the room to touch upon areas which require significance right from the very beginning. Works Cited Furnham, Adrian. Managerial psychology: state-of-the-art. Journal of Managerial...
2 Pages(500 words)Essay

How video game effect our live

...staring time affects the eyes and sitting for too long affects our skeletal and muscular system. The psychological effects have been somewhat controversial with both positive and negative effects on our mind. Different games have different effects, violent games like GTA, Mortal Combat, Tekken and many others have a negative effect and productive as well as strategic games help increase the IQ and general knowledge of a child (Carrol). Hence Video games have both harmful and good effect on our daily lives. It all depends on us as to how we perceive these games and try to make games...
3 Pages(750 words)Research Paper

Our bodies our politics

...(Koyama 6). They conclude by warning writers that if Trans engage in angry, detailed criticism writers should not take that as rejection, unnecessary ranting or effects of testosterone, but merely consider it as a gift and a compliment. According to the article Some Very Basic Tips for Making Higher Education More Accessible to Trans Students and Rethink How We Talk about Gendered Bodies, just like other normal people, Trans people have a right to education. To make them fully participate and avoid unintentional exclusion in class the author suggests that regular students should refer to Trans by their preferred names (Spade 58). They should...
2 Pages(500 words)Essay

Our bodies our politics

...Gender Stereotypes in Modern Culture and Science The first reading by Natalie Angier is devoted to the issue of gender stereotypes in relation to femininity and masculinity. The author analyzes the issue based on the popular belief that pink color should be used in womens clothing, while the blue color is suitable for men and boys. The author notes that this is due to gender stereotypes about masculinity and femininity. Society as well as science demonstrates the confidence that the man is a strong and active being, while the woman is a weak and passive creature. All this leads to the fact that even science shows a desire to dissociate itself from femininity that has primarily a negative connotation. Another article...
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Mr./Ms. Economist, What is going on in the economy and how will this effect our business in our state of Ohio What should be d for FREE!

Contact Us