Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Project Paper 2 - Essay Example

Comments (0) Cite this document
Macro & Micro-economics Name Institution of Affiliation QUESTION 1: The Gross domestic product (GDP) refers to the market value of all formally accepted final goods and services manufactured in a nation over a given period. The GDP per capita is considered as a pointer of a nation’s standard of living…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98.4% of users find it useful
Project Paper 2
Read Text Preview

Extract of sample "Project Paper 2"

Macro & Micro-economics of Affiliation QUESTION The Gross domestic product (GDP) refers to the market value of all formally accepted final goods and services manufactured in a nation over a given period. The GDP per capita is considered as a pointer of a nation’s standard of living. The GDP should not be bemused with the Gross national product (GNP), which means the allocation of production on ownership. The GDP can be calculated by three approaches, which includes the product approach, expenditure and income approaches (Miyajima, & International Monetary Fund, 2006). However, most economists embrace the product approach, which is more direct. The product approach sums all the outputs of each group of the enterprise to get the total. Production approach This method of GDP determination can be called the Net Value of Domestic output. The method comprises of tree primary stages, which are as follows Start by approximating the Gross value of domestic output from all the numerous economic activities within a nation (Miyajima, & International Monetary Fund, 2006). Calculating the intermediate consumption such as the expenditure of materials, services and even otter supplies used in the manufacture of the final products and services (Miyajima, & International Monetary Fund, 2006). Subtracting the midway consumption cost from the Gross cost to find the Net worth of the Domestic output (Miyajima, & International Monetary Fund, 2006). This procedure can be represented as follows Net Value = Gross Value of output- Value of intermediate Consumption Whereby the Value of output= Value of the total sales of goods and services + value of changes in the stock. The summation of Net Value Added in diverse economic activities is referred total the GDP at factor cost, whilst the addition of indirect taxes to the GDP at a factor cost gives the GDP at producer cost (Miyajima, & International Monetary Fund, 2006). In measuring the GDP, only the value of the final products and services is included. This is because the final product is the one that is bought by the final user. All the intermediate compliments help in the production of the final product, and this means that, their cost is incorporated in the cost of the final product (Linde?n, 2003). This implies that, inclusion of the intermediate products cost, will cause cost double counting, and this may not give the intended value of the GDP. QUESTION 2: Inflation can be defined as the increase in the overall level of prices for products and goods in an economy within a given period. It follows that hyperinflation is the high rate of inflation, which has gone beyond controllable level. Hyperinflation may range from 26% -50% per month. In a hyperinflation milieu, a vicious cycle is produced where a larger extent of inflation is created by the ever-increasing succession of printing money (Miller, Zhang, & Board of Governors of the Federal Reserve System (U.S.) (2005) Hyperinflation becomes visible when a nation’s money runs unchecked (Miyajima, & International Monetary Fund, 2006). This situation is in most cases linked to wars, socio-political cataclysms and aggressive currency behest or meltdowns of currency. It is notable that, most of the nations that have faced hyperinflation during the 20t and 21stt centuries suffered because of obliteration or collapse of its own fiat currency. According to Zambell (2004), chronological account indicates that fiat currencies are susceptible to failure and they have always brought down the entire empires. Some of the countries that have suffered hyperinflation include Poland from 1921-1924- 988, 235% Germany in 1923 - 326,000,000% Zimbabwe 2008 - 79,600,000,000% This study indicates frequent hyperinflation is caused by the decisions made by Central Bank to increase the money supply in financing debts and current expenditure. This reduces the demand for a country’s money. The hyperinflation state is expected to continue until such time, when excessive money printing and promotion of creation of money by increased credit banks is stopped (Zambell, 2004). Hyperinflation affects the economy in numerous ways, which include reallocation of wealth, rendering the value of money zero, causes hoarding and loss of confidence on the government and the banking system. Reallocation of wealth To start with, reallocation of wealth is an evident phenomenon in hyperinflation milieu. Hyperinflation causes transfer of mass wealth from the public, which holds capital, to the government, which grants money (Zambell, 2004). This situation causes borrowers to benefit at the expense of lenders. Rendering the value of money zero Hyperinflation can render the value of money Zero due to the sharp increase of the cost of products and goods (Zambell, 2004). This makes the currency to lose its value against other regional and global currencies. Hoarding Hyperinflation causes stock hoarding. Hoarding is the tendency of people stocking large amounts of products, which they may not require (Zambell, 2004). Lose of confidence on the government and the banking system. Hyperinflation is a worse prerequisite for the public to lose confidence on the governmental undertaking. Moreover, the public loses faith in the banking system’s credibility and this creates the behavior of not investing and saving in the financial institutions for fear of collapsing (Zambell, 2004). In conclusion, hyperinflation is not an excellent experience in a country’s economy because it drives people away from spending money on monetary transactions and leads them to barter trade (Zambell, 2004). Use of currency in a normal economy increases the economy’s efficiency compared to the use of barter trade. QUESTION 3: The issue of free trade and protectionism, which is practiced in the United States of America, is a debatable topic. This is because there are valid reasons for the opponents and proponents of the free trade and protectionism policies respectively (Noland, 2009). For the case of the USA’s protectionist policy, numerous supporting factors underscore this stand. In the first place, the protectionist policy refers to the imposition of limits on foreign trade with the intent of protecting home businesses. The USA has perfected in this policy and it has seen its businesses and industries thrive well, thus increased economic growth. Some of the supporting factors attributed to this policy include increasing job opportunities for the American populace through, manufacturing industries (Noland, 2009). Protectionism reduces over dependency on foreign countries for products not produced in the US, and this contributes to high levels of fiscal stability of the US economy and reduction of dependency vulnerability. Moreover, use of cheap labor in other nations is likely to affect job opportunities at home and this threatens the nations’ ability to sustain its labor needs. In conclusion, the proponents of protectionist policy have valid reasons for their stand, and on the other hand, those supporting free trade justify their stand with valid reasons. According to Noland (2009), both free trade and protectionist policy remain a debatable issue and whichever country adopts either of them does not stands to gain at one end and to lose on the other. In essence, there are advantages and disadvantages attributed to both the free trade and the protectionist policy, which is embraced by the United States. References Linde?n, S. (2003). Assessment of GDP forecasts uncertainty. Brussels: European Commission, Directorate-General for Economic and Financial Affairs. Miller, M., Zhang, L., & Board of Governors of the Federal Reserve System (U.S.). (2005). Hyperinflation and stabilisation: Cagan revisited. Washington, D.C: Board of Governors of the Federal Reserve System. Miyajima, K., & International Monetary Fund. (2006). How to evaluate GDP-linked warrants: Price and repayment capacity. Washington, D.C.: International Monetary Fund, International Capital Markets Dept. Noland, M. (2009). The new protectionists: The privatization of US trade policy. London: IEA Trade and Development Unit. Zambell, R. G. (2004). Hyperinflation or depression?. West Palm Beach, Fla: Weiss Research. Read More
Cite this document
  • APA
  • MLA
(“Project Paper 2 Essay Example | Topics and Well Written Essays - 750 words - 1”, n.d.)
Project Paper 2 Essay Example | Topics and Well Written Essays - 750 words - 1. Retrieved from
(Project Paper 2 Essay Example | Topics and Well Written Essays - 750 Words - 1)
Project Paper 2 Essay Example | Topics and Well Written Essays - 750 Words - 1.
“Project Paper 2 Essay Example | Topics and Well Written Essays - 750 Words - 1”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document


Project 2

...? United s Geological Survey (USGS) Dynamic Earth Questions Introduction The Dynamic Earth: The Story of Plate Tectonics is a website written by Jacquelyne Kious and Robert Tilling, and published by the United States Geographical Survey (USGS). It is a comprehensive site which contains information about plate tectonics on earth, how the theory of plate tectonics was developed and what effect this has on occurrences throughout the world. It also contains detailed examples of how specific parts of the earth or geological events are directly related to plate tectonics. The site was published in 1999 and was developed from a paper published in 1996. Consequently, some of the information in the site may be out of date and it does not represent...
5 Pages (1250 words) Essay

Assignment 2: Project Paper

A well-rounded person is supposed to execute an admirable personality, and should also portray a factual sense of self esteem (Sayre 2012). The issue of being well-rounded has particular attributes attached to it: Physically well-rounded – this is where the body is kept in perfect shape by active lifestyle activities; Mentally well-rounded – refers to being knowledgeable in various dimensions in life and also being reasonable in the way an individual relates to others; Emotionally well-rounded – having control over one’s emotions and remaining reasonable and grounded in spite of the conditions of the environment around them; Spiritually well-rounded – referring to a person’s moral standards and values that identifies them as good...
3 Pages (750 words) Assignment

Project 2

... and darkness. “The Hollow Men” is about the modern society of hollow men because people are empty and dark without meaningful identities. They are empty because they are like Kurtz who are consumed with pursuit of power and wealth. The allusion to Kurtz in the epigraph says something about this pursuit: “Mistah Kurtz- he dead” (Eliot). The native who says this is lost after their master is gone, a master who nurtured them to believe that power and wealth are the only things important in the world. He is one of the hollow men with hollow gods. The repetition of “we” signifies the rise of the majority that has the same thinking: “We are the hollow men/We are the stuffed men…Headpiece filled with straw” (Eliot 1-2, 4). They are hollow because...
5 Pages (1250 words) Essay

Project 2

... includes the logging operation that supplies the wood and paper to the whole world. Rapid urbanization and increased number of constructions can be regarded as the third most logical reason of deforestation. The other minor reasons include wildfires and overgrazing. The effects of deforestation can have various negative effects on the society. The most crucial one is the loss of habitat for innumerable species. Data says that around 70% of the earth’s animals and birds live in forests, which won’t be able to survive when deforestation would take place. Deforestation also causes climatic changes giving rise to soil erosion, decrease in rainfall and temperature swings. Also trees are known for absorbing greenhouse gases that supports global...
3 Pages (750 words) Essay

Project Paper 2

..., the ability to save for the superannuation contributions is lost and consequently disposable income becomes less and less for sustenance (Siurala, 2002). This leads to individual and economic financial loss. Equally, grief and loss of happiness is attributed to loss of job or unemployment. Most unemployed people suffer from trauma and their lives are full of grief because they are not able to meet their basic needs. In essence, majority of the unemployed face difficulties in meeting the basic needs and sustaining the status of living standards, and this situation makes the overall the economy more volatile. QUESTION 2: Why do teenagers and young people have high unemployment rates? The teenagers and young people have the highest rates...
3 Pages (750 words) Essay

Project #2

...Dr. Keerti B, general manager of Human Resources at Coramandel Infrastructure Pvt. Ltd. was interviewed in order to determine the ways in which the HR process in the company could be improved. The organization is growing, and currently comprises 140 employees in 8 locations. Dr. B emphasized the necessity of maintaining a strong relationship between the HR department and line management, in order to optimize the support that HR is able to provide for both management and staff. It is also emphasized that HR is a support rather than a strategic function, providing support in connecting staff and management for the purpose of optimizing the working relationship. Dr. B identifies three main challenge areas that need... Keerti B, general...
2 Pages (500 words) Essay

Project 2

...Community Policing affiliation Community Policing Community policing deals with crime and social disorder by delivering police services through policies of traditional law enforcement on crime prevention, community engagement and partnerships (Sozer, 2010). It involves joint action of the police and citizen partnership. Community policing involves ameliorating the relationship between the police departments and the general public so that the sustentation of the rule of law is simplified. In most societies, police departments have a negative image, and hence, community policies are implemented to pursue a positive image of the police departments. This research paper is aimed at discussing community policing by providing its pros and cons...
6 Pages (1500 words) Essay

Project 2

... The Women Deodorant and Men’s Suit Advertisements The deodorant and Men suit advertisements have correspondences and difference. The advert on deodorant is focused on women while that of the suit is meant for men. Ladies are associated with the use of string deodorants in order to avoid bad odor, especially throughout the hot weather. Women also love the deodorant product because of their natural smell liken to the environment. The women have an affirmative discernment of the deodorant product. In this regard, the advertisement of the product is also exaggerated to an extent women are lured into buying the product instantly. The adverts attract a large population of women. However, there must be deodorant differentiation... The Women...
4 Pages (1000 words) Essay

Analysis of the Key Factors Leading to a Successful Project

Theorists also have given their opinion regarding the nature of planning a successful project. The combined study of all the works of others and analysis of the previous projects would give a better vision regarding what is a successful project plan. As an executive summary has to say the following, regarding the factors or key factors that lead to a successful project.

The success begins from the point of how we select the scope of the project or to be more precise on how we clearly understand the scope of the project. And organizing the project plays a prominent role in its success. Concentrating on the impact will also work possible for the success of the project. The Executive Summary says that the project should be...
8 Pages (2000 words) Business Plan

Faith and Works - Comparison of James 2:14 and Romans 4

While the apostles James and Paul agree that Faith connotes belief in God and Works connotes good actions, James contends that faith and works are both essential for salvation, while Paul asserts that faith is the only requisite.

James is unequivocal in his declaration that “faith by itself if it has no works, is dead” (2:17). However, he does not discount the importance of faith. His contention is that both are essential and one, without the other, is futile. He is addressing Christians, who, we may assume, are already among the congregation of the faithful, by virtue of their professed belief “that God is one” (2:19). Therefore, James accepts that faith is a precondition for salvation but asser...
7 Pages (1750 words) Assignment

Photo Collage Project Responces

A collage is something that speaks of one particular situation or theme and yet it is composed of many parts.  Thus, an artist doesn’t only take one good shot of a particular scene but of many several scenes because he still has to put it together to make a new harmonious picture. The title of my collage is Desolation; which means something that is unhappy, ugly or deserted. So to start my college I went to different places to take the perfect pictures. I went to Alba, to a power plant, to Sitra, and to many other places. I had fun traveling but it could also be tiring at times. The excitement is always there, however, it could also be frustrating as I always had to explain why I am taking pictures. People tend to becom...
12 Pages (3000 words) Assignment

James Madison's 51st Federalist Paper

If this theory was seriously followed, it would suggest that the citizens must opt for the president, the legislators, as well as the judges. However, the framers identified certain realistic problems in making all the offices elective. Especially, the judicial branch would face problems because the typical person does not have knowledge about what qualifications judges ought to have. Judges must have great capability, but also not have any political pressures. While federal judges are selected for life, their philosophy will not be inclined via the president who appoints them or the senators whose permission the president will take.

All the arguments were generated due to his past life as he was in an aristocratic fami...
6 Pages (1500 words) Term Paper

My College Education and Internship Project

As I complete my education at Touro College it indicates that I am taking the first step towards launching into a full-fledged career. It not only signifies the end of my education but also my readiness to begin working and contribute to the world in general. I believe that my internship at Web fact, a technology company, has made me apply the concepts and skills that I have learned during my college education. The application of the theory that I learned in college in my internship helped me put my education in perspective. 

I am in my 5th semester of the Bachelor’s degree in Management and International Business at Touro College, Berlin. I find it exciting to study in English and getting an international pe...
9 Pages (2250 words) Coursework

The Work Breakdown Structure and its Advantages in Project Planning

A typical construction project involves a WBS that evolves from an initial task that is successively subdivided into smaller work blocks until the lowest level is reached, indicating a tree-like structure. Subdividing the project breaks down the project work effort into packages that are both manageable and independent. It connotes that the lowest level of the package corresponds to the smallest project work, which requires the shortest completion time periods. As WBS shows the relationship of all elements of a project, a sound basis for cost and schedule control is provided.

Some lists of project activities involved in WBS include budgeting, cost allocation, time allocation and management, and quality assurance. These...
11 Pages (2750 words) Report

Billing System Upgrade with Web-Based Version Project of Rick Auto Enterprises: A Communication Plan

The project is envisioned to involve changes to existing business processes, changes to existing jobs, and/or the creation of new positions. With the new web-based version, customers and auto brokers will be able to view and pay their bills online, as well as access a billing customer service agent is required. This change will affect the billing, sales, and customer service departments but it is expected to reduce costs, improve customer satisfaction, and reduce the number of days for outstanding accounts receivable.
Ownership of the existing system rests with the Billing Department. However, with the benefits projected to be derived from the upgraded system, especially with the implantation of the web-based version, the Cus...
12 Pages (3000 words) Case Study

Project Risk Assessment: Qualitative Versus Quantitative Approach

The risks may vary in terms of nature or scope according to the situation. So since the risk is so common in project management, a very important aspect of managing a project is analyzing all the possible risks that are associated with that particular project. It makes no sense of going on with a project and not giving a thought to the risks that could affect the success. Once these risks are analyzed, the project manager will have all the possible risks in front of him. He will know the degree of risk and also the benefits that the organization will get if the risk is taken. Therefore only after a risk analysis, the project manager is in a position to conclude whether or not it is worth taking the risk and going on with a certain...
6 Pages (1500 words) Assignment

Project Management: Best Practices and Stakeholders Perspective

Employees of functional divisions are assigned or detailed to a specific project and then re-assigned back to the organization when the project is completed.
Project management is defined by the Project Management Institute (PMI) as the application of knowledge, skills, tools, and techniques to project activities to meet project requirements; and its methodology as the planning, monitoring, and control of all aspects of the project and motivation of all those involved in it to achieve the project objectives on time and to the specified cost, quality, and performance.” Being a temporary, one-time endeavor, it differs from the organization's operations and processes which are its current and permanent work to create a pro...
6 Pages (1500 words) Literature review

Project Planning Human Capital

Project planning involves a lot of factors and areas that we need to address for the effective management and handling of the project. The aim of this report is to provide a deep insight into some of the main areas that we need to address for the project of Adams's family farmhouse renovation. These issues are project team communication, project risk management, and deadline handling. Effective communication in a project provides a huge advantage regarding the better working and handling of the project. I have selected a very significant project regarding the preservation of the old and historical places. Here we require effective communication to provide better interaction among the designer, developers, and history preservation...
8 Pages (2000 words) Coursework
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 Project Paper 2 for FREE!

Contact Us