Basically economic indicators have two main purposes; first to analyze how well or poorly an economy is doing and secondly, predictions of future performance of an economy can be based on the same information…
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All around the world, this is one of the countries known to have one of the greatest economic growth and equal distribution of income. Research has it that this growth began in the postwar period from 1955. Between this year and 1973, there was a rapid growth in the GDP at 8% but later, the GDP per capita was at 3%. Most of this growth has been attributed to the increase in the manufacturing sector. Various spheres of human development also improved greatly during this period, for instance; infant and maternal mortality rates declined such that by 1993 it was one of the lowest in the world.
Some researchers say that over the past decade, japan’s economy has been stagnant due to poor population growth, debt, deflation and natural disasters. According to Buttonwood however, the growth per capita over the last ten years is at 1.6% greater than that of the United Kingdom, Germany, France and even America (www.economist.com). Apparently, Japan has plans to start trans-pacific partnership trade to increase its economic growth. Another indicator of economic growth is the Human Development Index, currently in Japan; it is at 0.901, the 12th out of 187 countries. The purchasing power parity according to the wall street journal is 1$= 110.784 yen.
The main industry in Japan is the manufacturing industry inclusive of electronics, automobile, biochemistry and optical media. Agriculture is not that well developed due to lack of farming land. These two industries provide the population with employment and according to the economist, in 2008, the ratio of job offers to applicants is at 0.59. However, the low birth rate is troubling this economy due to the high probability of lack of available indigenous work force in the next few years.
Japan is known to be one of the easiest and best places to do business due to its low tax rate. India This is one of the members of G-20 countries, an upcoming economy. Currently, its economy has an expectation to expand by 8.5% (the Economist). The increase in the workforce is one of the reasons why there is a high expectation in its economic growth. The growth national income per capita has been seen to triple at a percentage of 13.7% according to the wall street journal. Human development index in India is still questionable but expectations of improvement are very high. When it comes to nutrition, half of the population is malnourished; housing is in a pathetic state with the most modest houses being 9.6 meters squared in rural areas (The Economist). The health sector has been dealt the same fate with rural population having less access to health services and those in the urban areas not affording it. Infrastructure, one of the indicators of growth, is in a bad state in India. Previously, only the public sector was in this field and its inefficiencies are seen by the lack of infrastructure. In fact, 600 million people have no electricity, 66% of the population has no clean drinking water and the transport network is not in a good state either. However, this is rapidly changing as most of this industry is now becoming privatized and thus more efficient. In as much as the country continues to grow at a rapid rate, the wall street journal says that the annual GDP growth has reduced in the past year from 9% to 8%. This has been attributed to the recent terrorist attacks, political instability, and strict policies on its macroeconomics which has lead to a drop in investments. As stated above, one of the indicators of the economy is equality in income. Unlike Japan, India has great economic disparities with approximately a third
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Tragic and disastrous accidents recurrently leave a complicated trail of human and mechanical errors. A lot about human performance and system functioning can be studied in hindsight by having panels of experts examine the accident sequences; reviewing them and the incidents that triggered them can lead to a clarification of the origins and identification of what actions went wrong
In its simplest form, marketing tends to appeal to all consumers with a simple or generic product or service. It may not be the ideal product, but it serves a definitely identified need. However now that there are different classes of society, marketing can also create basic and augmented products and services that serve the diverse needs of customers.
Keynesian general theory of macroeconomics states that in the short run, economic output is strongly influenced by aggregate demand. Keynes also said that the total economy expenditure is not a reflection of its productivity. Keynes states that in order for aggregate supply to meet aggregate demand, the goods supplied should be those that are in demand.
Term paper on Effects of Taxation on Macro & Micro economics Abstract The Overall the study of economic environment is divided into two categories, microeconomics and macroeconomics. The micro-economics deals with individual units while the macro-economic deals national or international economy as a whole.
Macroeconomics has critical elements, which include price stability, equilibrium in balance of payment, economic growth, and employment. It is the central role of any government to ensure that the economy of the country is which it is run has favorable economic policies by use of various fiscal or monetary policies.
Bonds are long-term debt instruments that pay the investor periodic dividends and return of principal at the end of the maturity period. Investing and financing in varying proportions of stocks and bonds is the way by which
There are several profit maximization theories that are applicable to firms. In understanding profit maximization, the theory of the firm comes to play.
Firms must act to maximize their profits, and this is the basic tenet of the theory. Profit is defined as the
It can also be considered as the lowest wage at which a worker may sell his or her labor. Minimum wage differs from one country to another and from one state to another in the United States. The US federal government has specified a statutory minimum wage that each employer
s’ participation and inclination determine how any product or service can become useful for sale or purchase so to satisfy the needs of consumer and generate profit for entrepreneurs. However, competition in business market impacts directly on the decision of producers to
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