Exports represent almost 65 percent of Belgium’s GDP. In particular, Belgium’s highly developed transportation system, and highly skilled and productive workforce focus on efficiency and technological development and others have allowed the country to stand in the line of the economic superpowers (Elliott & Cole, pp.
From this research it is clear that Hotelling rule assumes that real inflation adjusted levels and risk-free interest rates of investments in the economy influence the extraction and prices of the natural resource in the economy. It also assists the owners of the exhaustible resources to make decisions to either extract the available resource now or in the future.
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The opinions are followed by the logic that monetary policy has been effective during the recent financial crisis. In fact, it is said that monetary policy has been more potent during times of crises because not only did it lower interest rates on default-free or government securities but it also lowered credit spreads.
The basic needs of individuals required for day to day life might not be satisfied adequately, where the lives of community as a whole shall worsen. Thus, it becomes the prime responsibility of every citizen to pay taxes on a fair basis, as the funds collected in the form of taxes are utilized towards their own benefits.
Microeconomic principles on the other hand would include demand and supply prices of a particular family allocating their financial resources for an apartment, and the wages that each family would pay to their home decorators to set up their homes. These concepts can be understood as microeconomic because they study the behavior of a small number of individuals using limited resources as opposed to the entire market.
Question One A rising dollar makes goods produced in the US expensive in other countries and while goods produced in other countries become cheaper for consumers in the United States. Thus, a rising dollar makes imports cheaper in the US and exports expensive in other countries (Mishkin, 2010).
These countries are closely integrated to the global economy and this interconnectedness made them particularly vulnerable to the cascading effects of a slowdown in the globalization trend. Neo-liberalism is put into question as various capitalist principles did not seem to work out, which had previously been hailed as a good development for everyone concerned, as exemplified by the phrase that a “rising tide lifts all boats” kind of rationalization but the benefits of globalization are spotty.
Forces of demand and supply set prices in a free market economy of every respective product. When there is excess supply of a particular product in a free market economy than the available demand, prices tend to go down automatically (Friedman 12). On the other hand, when demand exceeds supply, market prices go up as there is no enough distribution and supply of the respective product.
The very recent mega blast by apple I phone 5 has astonished people around the world, its brilliant success has been the headline strokes all over (Trudy Muller , 2012). Supply and Demand The demand graph for the iphone 5 has taken an interesting and profitable turn in market, and its popularity among people is increasing day by day.
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.
Federal Reserve Policy during the Recession and Effects of the Credit Crunch Name: Institution: FEDERAL RESERVE POLICY DURING THE RECESSION AND EFFECTS OF THE CREDIT CRUNCH Part One: Federal Reserve Bank Policy during the 2007-2008 Recession To increase the funds that were available to commercial banks, as well as decrease the rate of fed funds, the US Federal Reserve announced that it had plans to increase to $300 billion its Term Auction Facility (Amacher & Pate, 2012).
According to economic analysts, natural disasters have affected the economy immensely through the loss of the labor force, destruction of investments, and laid out infrastructure. As witnessed, some natural disasters occur within several seconds but the effects that they cause could be devastating.
Income and Substitution Effects. Inferior goods are those which react negatively to changes in buyers’ income in that any change in income results into an opposite change in demand. Few Inferior goods are bought when the buyer’s income goes up but much is bought when the consumer’s income goes down (Hyman 2010, p.
The high-powered money multiplier approach is an approach that considers the level of bank deposits by the private sector while determining money supply (Werner, 2005). According to this approach, the level of cash deposits held by the bank plays the major role in determining money supply.
The major weakness of a country with weak intellectual protection is that other powerful nations can convert the ideas from other weaker nations as their and then they can modify them to come up with quality and valuable products that would later be sold to the originators of the ideas at better deal prices.
Nash equilibrium is a term used to describe a position where strategies taken by the players are at optimal point, given the moves taken by other players in the game. In Nash equilibrium, no industry or individual is in preference of a different choice. This means that each player chooses the best strategy given the approaches taken by the other players in the market (Kelly, 2003).
The author analyzes the case when the Irish nation experiences a recession first, which is followed by a short lived period of recovery and lastly, a recession once again, so that there are in all two recessions that the economy experiences. He suggests that a positive shift in aggregate demand is possible when an economy follows a stringent budget regime.
By recruiting and training people for more rewarding jobs, this budget plans to increase the national economic prosperity. The budget also aspires to take advantage of the seismic shift in the global economic power, which greatly benefits the nation as this unexpected shift influences the economic growth in the country’s Asian region.
According to the Economic Cycle Research Institute (ECRI), more than three years ago, the 2008 financial crisis already triggered studies on longstanding pattern of slowing growth, characterized by higher cyclical volatility and lower trend growth. In layman’s terms, in the short run, we may be having higher upswings of economic growth.
The series of financial crisis that hit America hard recently has been putting a large amount of pressure on the government to impose more taxes and scrap the important tax cuts that have provided some measure of relief for average Americans, which are mostly in the middle class.
The aim of the study is to analyze the economical condition of China, the developments made by the Chinese government, which made the country one of the most developed countries in the world. The researcher will also analyze that whether the future of the economy is also strong. To make the economy strong, the government has to make certain policies so that the base of the economy becomes strong.
It will entail all the required concepts in the project proposal; plus the business marketing fundamentals that are viable to make meaningful returns. The proposal must present an innovative and convincing idea both to the prospective clients and the funding body with adequate consideration of the other stakeholders and the general community at large.
10 pages (2500 words)
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This will be followed by an assessment of the history of minimum wage with an emphasis on the United States. The paper will go further to assess the effects of a revision of the minimum wage to employers then to employees. This will lead to an assessment of the positive effects of minimum wage as well as the negative effects of minimum wage.
The financial crisis refers to the situation in the financial economy, when the value of the assets and institutions goes on losing their value at an increasing rate all over the world. The study is also concentrated on the genesis of the 2008 financial crisis which involves the disastrous circumstances that occurred in the United States as well as in other parts of the world.
Whenever the system of productivity & consumption of resources is strong in any country, it provides a tool for economic development. Many poor countries have started from nearly zero to a better if not best, the economical system has shown remarkable progress in economic development over a short period of time.
The production activities are carried out in economic systems which address the economic problems of scarcity with the finite factor inputs. Economic systems thus are composed of people, rules, institutions and relations and can be of many types. A free-market system is such that resources are allocated based on the price mechanism.
The Financial Crisis Inquiry Commission’s report on the economic turmoil indicated that the melt down was an artificial problem which emanated from the operations of the financial institutions. The report identified the following causes of the financial crisis.
With the emergence of many small and medium carriers, the large airlines are subject to significant threat too. Air France KLM appears to be in the most unprofitable position in terms of its short-haul operations. With regard to the past trends of these three airlines, an analysis is done to forecast its future prospects in the industry.
It takes into considerations the political and economic issues affecting the welfare of the international states through employing multidisciplinary and interdisciplinary approaches (Hobson 27). The IPE attempts to solve the related problems of international relations including political, economy and international trade issues.
In fact, AFL has been focusing on researches in the areas concerning sports science, sports medicine and evolution of the game, through investigations of the various issues. AFL concentrates on the issue like efforts reduction of injuries occurrence, increased performance in coaching and playing.
Some common intellectual Property Rights are copyrights, patents, rights on industrial designs. The aim of the law of intellectual property is to promote business. The economic performance of a country can be enhanced greatly when the government takes the initiative to fill the gap in the basic human rights enjoyed by the citizens.
4 pages (1000 words)
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As the global socio-economic scenario is changing rapidly, theoretical explanations to complex subjects are also being revived from a more critical and broader perspective. This particular phenomenon can be apparently observed with reference to the studies conducted and documented by Steven D. Levitt and Stephen J. Dubner in the book Freakonomics.
Economic growth is measured as percentage change in real GDP. There is an implicit link between economic growth and GDP. The GDP is often referred to be the proxy for human development as well as well being. But it is difficult to judge the relation between economic growths with well being.
James argues that although technology has been beneficial, the payback left out most of unprivileged developing countries especially in sub-Saharan Africa. The author is undoubtedly able to rest down the special effects of information technology in facts and competently on the global economy.
1) with institutional and language advantages, China has been successful in capturing the world’s attention by impressive growth in GDP and phenomenal inflow of FDI. Some more impacts are yet to be seen owing to the rapid growth in the economy and size of the two countries.
Coming from a background with a hard academic excellence coupled with a solid experience of a working economy spanning from the Kings College to Cambridge University [the heart of knowledge], right into the money control systems of the British Treasury, Keynes was an economist of real economics, recognizing so early in his life the need to convert theoretical prescriptions into politically relevant, workable plans able to assist an economy in need.
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These people are below the poverty levels. Some of them perish from starvation or from health maladies which are borne out of inadequate health care and limited nourishment. Other individuals seek different ways to improve their economic conditions, and many of these individuals have proven successful.
Positive and Negative of introducing a Common Currency: 8 5.2.1. Microeconomic Benefits 9 5.2.2. Macroeconomic Cost: 9 5.3. GCC Monetary Union: A long Hard Road 10 5.4. GCC Monetary policies Challenges: 11 5.5. Will all GCC Countries be Winners? 12 6. Recommendation: 12 7.
This signifies one thing; that is, in the banking sector, right from the executives to CEOs are involved in the corporate trough, yet are receiving a hefty bonus for their achievements and performance, which they were not ethically suitable for. The compensation that includes bonus multiplied massively with an augmenting designation in banks.
Various goods, such as national security have been identified as unique factors suited by the government while factors such as education are provided in both private and public sectors. Globally, different countries have different measures concerning whether they should provide certain goods, in private or public sectors (Papadimitrio 21).
Moreover, it is in order that the property rights owner is accorded the privilege to transfer the property rights to the highest bidder. The failure by the economic systems to assign property rights to resources gives rise to externality (Stern, 2006). The lack of clearly defined property rights means that externalities cause market failure and hence by allocating property rights to the use of natural resources, regardless of who holds these rights, will protect these resources better than government intervention.
The economic growth of China was never affected and its GDP never sunk below 6 percent. However, some countries including Australia was worst affected especially in its first quarter where it registered no growth. Additionally, economies including Mexico, the United Kingdom, and Japan were adversely affected by their annualized GDP.
Most of the American population is employed by small and medium enterprises, which means that these enterprises support the majority of American households. The government should recognize the critical role that small businesses play within the economy and help them by providing the most conducive environment so that they may succeed.
Macro and Micro Economics.
The subject matter of Economics is on explaining the world. That is, ways people behave, way in which most markets work and the way governments work in relation to the administration of scarce resources. The subject matter of Economics can also be said to be around production and distribution of output.
Usually, these measures are chosen based on the economic and social characteristics of local market but also the needs of the economy in terms of financing. Tariffs and quotas are common measures for improving market efficiency. Still, the effectiveness of these measures is not guaranteed.
The study will address low-income county residents profile and issues they face during food procurement, the causes and impacts of food sufficiency and insufficiency and lastly best policy recommendations based on the two issues. The findings of the study proved that 6.1% of the household are at a risk of hunger.
The financial crisis of 2007-08, not only led to the collapse of several banks and financial institutions, but turned down the stock markets in most of the countries. There are several specific reasons for the financial crisis which is discussed below in detail.
Of particular importance in the entire analysis has been the effect of the statutory minimum wages on the dwindling prospects of employment growth and the subsequent poverty statistics. While an array of scholars strongly believe that statutory minimum wages serves a fundamental role of a ‘‘fair’’ distribution of income, especially to the poor families with low-wage workers, opponents argue that the poor’s input to the national income is inconsequential [most have no working members], and that using the argument in setting higher pay floors only results in massive job loses.
This era of globalization has lead to countries coming closer to each other, this has happened in all aspects including trade. International trade is the exchange of goods or services between economies. It is calculated in the current account of the balance of payment of the economy.
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According to the paper, China previously used conservative practices in trade spheres by raising level of tariff rates and granting subsidies to the domestic enterprises. From the 1990s the government started to develop the potential of foreign trade activities. Ascension to the WTO helped the Chinese companies to increase its volume of exports.