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Individuals differ in certain unmeasured variables that, if not properly controlled, have influential impact on levels of unemployment. There exists, however, no universally acceptable definition of unemployment so far because both employed and unemployed people worldwide are measured quite differently.
A basis proposition of Keynesian theory is that the equilibrium level of income and output depends on the economy’s aggregate spending for output. If aggregate spending is less then demand will be less and it results in unemployment and less national output.
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What do you understand by economic protectionism?
Free trade is restricted with the help of various import duties, tariffs and also quantitative restrictions known as quotas. Implementation of such policy is for giving an opportunity to the domestic industries so that they can grow up in terms of efficiency and compete at the international level with their foreign counterparts.
Both countries have been through very serious cases of external and internal debt crisis and have used the same management strategies. Argentina experienced crisis in the early 1990s whereas Greek is experiencing the same a decade after. In the management of the crisis in both countries, there have been more of similarities than differences, which led to the volatility of the country.
However, people who are either not interested or capable of working are defined as “economically inactive” and are not incorporated in the measure of unemployment. Unemployment is an indicative feature of an economy which is in a stressed condition, with resources not being utilized in an efficient manner and supply from the labour side surpassing the demand from the employers in the industry (Hardill et al, 2001).
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The TNCs may act in pursuit of the interest fueled by their economic power to exploit the resources in the emerging markets and block the emerging companies in the local market. To help manage these, there are certain guidelines and principles developed by different regional and international agencies. These principles need to be followed by TNCs.
It is stated that the operations of transnational corporations have negative and positive impacts on the economies of the host nations. The impacts will depend on the level of development in a given economy and the operational procedures and processes employed by the TNC. While TNC may lead to job creation in poor countries.
The company delivered 64.3 dollars of revenue while the amount of revenue in 2009 was 68.3 billion dollars. The company captured 69 billion dollars of new orders in the course of the year. The company persisted to supply strong liquidity with operating cash flow of 3 billion dollars along with cash and marketable securities of 10.5 billion dollars (The Boeing Annual Report, 2010, 1).
Companies tend to earn a profit. The good thing is that companies are not purely made of profit directed machines but are amazing, the profit generation and labour utilization are actually from labours of man—man being a spiritual being contribute the part where the ethical and moral aspects of a company somehow came from.
The decisions made would enable the monitoring along with control of the monetary and economic conditions so that the country continues experiencing growth that is sustainable and inflation rates that are low. In the article, the Governor makes the observation that the European continent has experienced weak monetary with their future values still appearing to continue falling in the future.
And it does. The higher the Government Spending, the more availability of public goods in the country, proving to be beneficial for the citizens of the country. Public spending is a key factor in the state’s economic growth and development. It is very essential for financing infrastructure electricity, including roads and water but this public spending should be undertaken, after evaluating all the options so that it proves to be advantageous to the growth of the economy.
Moreover, this regulation involves a range of actions such as legislation and market frameworks to detailed regulations that are enforced by sectoral regulators appointed by the government (Gaughan, 2010). Through regulation, the government protects workers’ safety and health.
The supply side constraints may push up the prices. Similarly elasticity of demand for the product acts as a limiting factor to sales. However, in real life situations, the elasticity of demand is governed by diverse factors such as branding, cross selling, value addition, creating new uses for the products, multi-level marketing, direct marketing, discount sales and online marketing.
Interest rates fluctuate because of macroeconomic shocks like fiscal policy and monetary policy, because monetary policy is only a tool for economies with floating exchange rates. For economies with a fixed exchange rate, monetary policy is only used to support the fixed exchange rate or offset changes of the interest rate because of fiscal policy.
A merger should be beneficial to both parties involved. As such, this paper seeks to analyse the merger between Hewlett-Packard and Compaq Computer Corporation. This merger was widely criticised and it has been dismissed as a failure which resulted in the CEO of the merged company, Carly Fiorina being relieved of her duties.
What could be the expected positive and negative effects of European Monetary Union on a member country's economy?
The development of an economic framework that would be common for all member states has been included in the objectives of European Union founders.
The financial crisis has made the economy face several challenges and the Bank plans to overcome those challenges by using the quantitative ease methods to ensure free flow of the money (Ahmad, 2010). Same has hit the Bank of England as the increasing financial crisis has resulted in the increase of inflation.
In other words, fiscal policy can be referred to as the method to raise or spend the government’s revenue in order to attain sustainable economical condition (Vitek, 2012). To cope with instable economical conditions (inflation, unemployment, and deflation) the government makes appropriate decisions to regulate the flow of cash and credit in an economy either by taking loans from the international financial bodies or by reducing the public tax burden (Perry, et al., 2008).
How does the study treat the “lawful immigrant children” when it assesses fiscal costs? The heritage foundation report indicates that half of the household heads of unlawful immigrants have less than high school degree while 25 percent of the household heads have a degree from high school.
At this juncture austere fiscal policy is highly debated and is projected to further impair the development activities in the country. Social security faces the largest question. The harsh realization of these activities as realized by the common domestic citizen is that, Social Security and Medicare might not be available any further for the generation that is at their twenties in the current decade.
An employer may disregard a potential employee because of their racial prejudices hence limiting them from harnessing from their potential. This is because the job seeker might be from an ethnic minority but their professional skills could go beyond their race as they could be in possession of the required training.
According to the essay, China and India have not only emerged as economic superpowers during last decades, but also displayed potential of qualitative improvement of the social and political interactions between the countries. The mutual interest of the countries contributed to the cause. Trade ties and bilateral co-operation acted as the catalyst.
In this assignment the major focus is on land, labor and capital that has a major contribution towards US economic growth. The productivity of the US land and natural resources has increased with time. With efficient systems and technological improvements the US cropland value stood at the highest in 2013.
To have an imperative explanation of the concept, it is prudent to define the unembellished concept ‘Foreign Direct Investments.’ It refers to the process whereby the populace of a country acquires the full control and ownership of assets with the sole purpose of controlling production, distribution and other activities of a firm in another country.
(4 marks) Marginal rate of transformatio is as below UNs(C , h – Ns) – wUc(C , h – Ns) = 0 (1) zFNd(K , Nd) = w (2) We have UNs(C , l) – zFNd(K , h – l)Uc(C , l) = 0 Since p = zF(K , h – l) – wNd and G = T, from the budget constraint C = zF(K , h – l) – G (c) Setting MRS=MRT, solve the resulting equation algebraically for l as a function of G.
The main focus of the essay is on the increased effectiveness of the free market system, compared with mixed type of economy. Among all the types of the economic system, free market economy is proved historically to be the most productive and efficient. In free market economy the government has no hand in the market.
Although minimum wage laws have affected different jurisdictions, there have been different opinions concerning the benefits and disadvantages of minimum wage. Those that support the idea of minimum wage claims that it increases the standard of living of employees, reduces inequality, reduces poverty, makes businesses to be more efficient and increases the morale of the workers (E, Michael, Canada, & Policy, 2008).
Similarly, high unemployment rate does not augur well for the economy as it tends to raise the income disparity among the people. The paper attempts to explore how unemployment and inflation can be tamed through policy matters. The US has experienced high unemployment and high inflation rates in the past.
Of course everybody knows that ObamaCare is a health insurance sponsored by President Obama but many are still oblivious of what it is really about, why many politicians disagree about it and whether if it economically advantageous to Americans both as a country and individual.
To calculate it, goods and services are given different weights according to the percentage of income that households spend on them. There are several types of inflation, depending on its cause. However, the two most common are the demand pull inflation and the cost push inflation.
The US labor market is experiencing higher unemployment rates. Prices are continually souring high and interest on mortgages rising .These situations can also be addressed by critically examining how the market elements interact.
The company has been accused of pursuing anti competition strategies that are unlawful in order to dominate the market and benefit from the monopoly power (Meller 2009). In a monopoly, the firm will have the entire control in setting prices and sometimes derails innovation due to lack of competition.
A monopsonist confronts the supply curve that is between the price paid and quantity purchased. But a competitive buyer always accepts the price determined by the market. Therefore, a monopsonized market is characterized by a smaller quantity and a lower price.
Why is Smith's work on the division of labour still of interest after almost 250 years? Adam Smith introduced the notion of division of labour in his path-breaking book, An Inquiry into the Nature and Causes of the Wealth of Nations, in 1776. The notion of division of labour implies ‘separation of manufacturing process into distinct and simple operations which are then delegated to specific hands or machines to perform’ (Smith, 1776, p.10).
The main determination of economic justice is to free each person to engage in creativeness in endless work beyond economics, which involve the mind and the spirit. Economic justice pursues to outspread the principles of justice integral in human privileges into the economic world.
If we are to name a few of these basic perspectives, microeconomics, macroeconomics, institutional economics, and industrial organization - or the study of the firm, all comes to mind. The degree to which the lens of scrutiny is focused, and the size of the entities that are studied are dissimilar among these, and it is likewise true that each has its set of strengths and weaknesses.
Weather Phenomenon vs. Crops Prices.
Commodity prices are generally influenced by a number of economic factors, the most common being the demand and supply of the commodity in the market. Nevertheless, the forces of demand and supply are also influenced by other macroeconomic factors such as the prevailing weather patterns at any given time that can either increase or reduce the production of a particular commodity.
They provided some solutions which they thought will unlock the mysteries of the economic dilemma. Keynes was the believer of less government control. He tried to pan out a way where less or little government controls will allow the enterprises to work in the free economy regime.
In the year 2004, the average price of Bordeaux wine dropped to ₤159. Just as in 2002, the demand for the wine was more than that of 2003. This is so because of the reduction in price from ₤223 to ₤ 159. Reducing the price of the commodity would have an effect of increasing its demand. This would also increase the number of sales of the product.
According to Rothenberg (2003), “globalisation is the acceleration and intensification of interaction and integration among the people, companies, and governments of different nations” (pp: 1). Today, with the altering viewpoints, globalisation has emerged as “neologism of the new millennium” (Putko, 2006: 1).
Almost half of all immigrants, in fact, do not possess insurance, which is approximately thrice as high as those for native-born citizens. Since such a large number of immigrants do not have health care, they come up against serious barriers in pursuit of medical care and have to pay more from personal savings to receive care.
It is in the interest of the whole world to ask for the intervention of world trade organization and GATT to review the legal loopholes that give China such opportunities to manipulate the global economy. Economic sanctions for strategic co-operative input factors are also important it can threaten Chinese authorities to reverse their actions.
Any good that falls in the category of common resources has to meet these two characteristics, where rivalry indicates that the consumption of goods by an individual precludes its consumption by other individuals, since the unit consumed is no longer available.
39, pp. 8-13, demonstrates the principles of economics. This article addresses majorly principles such as demand, Supply, and Congestion, Government Pricing and Policy, Regional Development Planning and Policy, interest rates, government fiscal and money policy.
Mainstream economics is a specific school of thought to the post World War II era, specifically in the Anglosphere and to a lesser extent globally (Wrenn, 2004, pp106). Mainstream economics is associated with neoclassical economics which combines Keynesian approach and neoclassical methods macroeconomics.
Chocolate gifts molded into various shapes are now a traditional offering on particular holidays like valentines. It is also used to flavor various hot and cold beverages in the production of hot chocolate and chocolate milk. Cocoa mass originated in Mesoamerica as a beverage, as well as an ingredient in various foods.
Two primary divisions of economics are Macro and Microeconomics. Macroeconomics entail a concern on the how the economy behaves the globe and economies. On the other hand, Microeconomics is a study that encompasses decisions made by individuals and several concerned businesses regarding pricing of goods and services offered and strategies of allocating resources.
This will cause the quality to increase and the prices to drop thus winning the consumers. It will also improve the quality of life for low-income earners by making goods more affordable thus making their money go further. In many countries, the government will limit this by not allowing foreign transnational companies to control the global market place, protecting its companies from going out of the business and putting tariffs on cheaper foreign commodities.
Role of the Government in the Prevention of Recession.
The Wall Street is given the name following the construction of a very long wall that ran for eight blocks, which is approximately 1.1km long. This wall ran from Broadway all the way to South Street in the lower parts of Manhattan.
The author of the book begins his discourse with the planning or landscaping marked in the Colonial America. Afterwards, the discussion moves toward the revolutionary America, which shows a remarkable shift of planner type. Finally, the author ends his exploration in the 1920s in America, the time of the so-called the Great Depression.