Macro & Microeconomics Essays

Reduction in production of oranges will increase the price of orange in the market. In an economy, goods can be the substitute for each other in consumption. Therefore, other fruits could be substituted for oranges in the daily consumption of people. It is like Pepsi as a substitute for Coke or vice versa.

Factors are difficult to build into a game theory which in real life is exhibited in consumers. First is the fact that consumers will always look for substitutable goods. In as much as all the options given are weighed in consideration of the opponent’s case, at times it is hard to exhaust all the factors.

In most cases, every year’s GDP is simply a comparison to the previous year or quarter. For instance, when the third year or quarter

The terms are mostly used in economics. A capital account is also known as a financial account. It is one of the components of the balance of payments. The other component is the current account. A current account shows the net income of a country. A capital account shows the net change in the ownership of countries' assets. The two accounts must strike a balance of payments.

ce, there is the need for these products to be classified on their environmental, health and social worth which might not be important factors the market takes into account when defining the worth of products and services. The revealed preference theory as a method of analysing

The author states that both Block grant programs and matching grant programs increase local spending on the programs targeted by the grant. Nevertheless, a matching grant program encourages even more spending on a given program, while the matching grant in actual fact reduces the opportunity cost of expenditure.

Both the government of the People’s Republic of China and the Central Bank of China have played a very important role in the development of the economy of China over the past two. The Central Bank of China has the responsibility of managing the country’s currency and interest rates, and money supply.

However, this is justified because of the declining unemployment rate which suggests that the people who have lost the unemployment benefit have acquired a job (Morath and House, n.pag.). My point, however, is that the unemployment rate – while declining – has not

According to He, Xiaobo and Rong in America, it is reported that there is an increase in the participation of females in the labor force (4). Hence, economists have ventured in the study of the effects of fertility on the women’s labor participation.

The income choice theory, on one side, suggests that unemployment leads to increase entrepreneurship due to a decline in opportunity costs of not setting up a self-owned business. Unemployed people are more likely to possess less endowment of entrepreneurial talent and human capital for the set-up and sustenance of a new business.

ng to their study since the 2007 global financial meltdown, the figure had declined with a margin of 66%.In another study, it was established that there is an oversupply of labor whereas unemployment opportunities remain scarce due economic factors. In addition, some of the

The growth of an economy depends on the type of people who fill the available jobs. Well-educated, and skilled people are required to take up jobs. The New Global Economy of the 21st century has made a transformation in all the countries leaving no choice but to adapt to the changes which have come up, especially in the information technology sector.

Nevertheless, contemporary macroeconomic issues can be significantly complex. For this reason, few specialists who have the necessary background and time

Chinese products can be found all over the world from Athens to Zurich and since its cautious embrace of a more market-oriented capitalist outlook, the modern People’s Republic of China has exhibited phenomenal economic growth. China today represents a new form of economic development and this country has witnessed sustained financial growth.

Mr. Gordon Brown, prime minister of the UK has said that the government would like to adjust its plan regarding the debt reduction in the budget. This signifies that a tight election is ahead of the Britons in the coming June 2010. Regarding this issue, the conservatives have argued that they would like to cut the debt in the present year and want to continue the policy further in the near future.

In order to determine the total revenue that can be acquired, we need to study the demand curve. This curve shows us the number of units of a product that consumers are willing to purchase at a certain price. The number of units is multiplied by the price to get the total revenue. Total revenue is important in determining marginal revenue.

PRO: The countries in the GCC area are principally involved in the export of oil, and command more than half of the world’s known oil reserves. This high dependence on one industry presents a risky situation for these countries; the creation of

Spillover benefits refer to both costs and/or benefits that individuals or groups of people reap through the production or consumption of goods and serves, although they are these person(s) do not take part in decisions that aid the process of production or consumption. These costs and benefits result from both over or under-consumption of goods and services and over or underproduction of goods and services.

prices of energy rises due to their reduction in the supply level, an economic growth model offers critical lessons in estimating the impacts of different factors, after which we determine the impacts of the market general price levels. An increase in the price level of a

The first part of the analysis will focus on an exploratory analysis of the data provided. Under exploratory analyses, descriptive statistics will be computed and a relationship will also be hypothesized using summary statistics (mean and standard deviation). Tabulations will also be used to make observations on the data.

I was amazed on the part where I got to choose how my avatar looks like. As Sexton notes, labor is more important than capital because it is a driver for productivity and growth of a company (331). He adds that a country that has abundant labor is more productive than those countries that have less of them.

This text gives a glimpse of the life and times of Alfred Marshall, the economist. The text starts with an introduction of the person’s significance and moves on to describe his antecedents. His early days, his education, his academic work, and his preparation for his scholarly works are discussed here.

Oil has a wide range of applications in residential and commercial settings. Gasoline is used to power automobiles and aircrafts with piston engine. This use contributes to about

The following assumptions are essential during the Cournot competition: All firms make their production decisions simultaneously The cost structure of the competing firms is public information Firms choose their quantities once. Each and every company decides on the quantity to produce. In this competitive model, the output quantity constitutes the strategic variable.

The preferences and interests of individuals outplay the stipulations of the economic models and even the urge for rationality. This purely gives evidence that rationality is irrational. People will pose as rational if at all they have assets in the business. With this, they know they may lose if they don’t act rationally, but if it is that they have no interest then irrationality prevails.

This paper examines this important connection with a specific focus on the positive correlation between relative and absolute poverty and rates of violent crime and burglary in the U.S., and compares the Gini coefficient and indicators of poverty, such as unemployment and income distribution, in the areas of concern.

The focus in the paper is on the GDP indicator that assists the economists and the policy makers to analyze the impact of the fiscal and monetary policy, economic shocks which include rise in oil prices, the spending plans and tax on the overall economy. It measures the confidence of the government, people and companies.

For a decade, the world has witnessed a new trend of globalization that is influencing most of the sectors, especially business, economics, health, etc in different parts of the globe. Such a trend has resulted in an urgent need for alterations in policies and the creation of innovative strategies that may confront the challenges of globalization.

The author states that on March 11, 1990, it declared its independence. Today, the country is a member of both EU and NATO. In 2009 the total population of the country was almost 3,331,194. The government of Lithuania is democratic nature. Dalia Grybauskaite is the current president and Andrius Kubilius is the prime minister of the country.

Washington consensus refers to a set of ten reform policies that were generated by one of the world’s economist called Williamson in 1989. He proposed a package of ten policies, which he believed to be essential for recovery of weakening economies especially in

The carbon tax strategy is the tax imposed on greenhouse gas emissions generated from burning fossil fuels (Holt 39). The Cap and Trade regulatory system reduces some emissions and pollution and provides companies with profit incentives to reduce their pollution on faster levels faster than their partners.

According to him, “economic is the name of earning and consuming money” (Allison, 2009). There are two different kinds of economics, which particularly are microeconomics and macroeconomics. The concepts underlie between both of these kinds always

The collapse of Argentina’s economy in December 2001 indicated the failure of neoliberalism among developing countries to provide equitable and sustainable economic growth. This paper focuses on a brand new economic nationalism, introduced after the 2002 crisis. The relative success of the new economic policies is considered in the research paper.

The author of the paper will begin with the statement that leaders across Europe are struggling to restore confidence in a single currency while the economy in the United States is still limping forward at quite a slow rate. Consequently, the economy of North Korea continues to enjoy alarming growth and developments.

The Manhattan commercial property sector is one of the most successful sectors in real estate in the United States of America. The development of this sector has been driven by various factors that have an exponential development in the real estate sector in the Manhattan. The end of a decade marked the beginning of a new market.

The author explains that the plain packaging of this tobacco product is alternatively known as homogenous or generic packaging. The standardised packaging system of this form involves removal of all the lustre out of the presentation of the product. The branding for the cigarettes needs to be removed from the pack of cigarettes.

They should also provide micro-credits to the poor to enable them to acquire capital for investment. Education should be provided for the poor in order to give them desired knowledge for increased production. Also, all sectors of the economy should adopt labor-intensive approach so as to absorb the poor and consequently improve their living standards.   

The author states that the country’s main source of revenue was oil exports. In fact, Kuwait controlled 10% of the world's oil reserves. The country depended on oil in virtually everything to run the economy. The relatively small population of 1.7 million people ensured that every person got his or her due share.

This projection starts all the way from the status as of 10,000Bc to predictions that will be as of 2050. There is also a focus on other issues that relate to population in that they either affect or are affected by its decrease or

For this reason, the underlying inflation in the country might have an adverse impact on the economic growth. In the recent quarters, inflation has remained at 2 percent, and sector-specific

Generally, events in the Middle East often have international repercussions.  As we have shown, the Arab-Israeli War in 1973 had wide ramifications on the international oil sector leading to an embargo on the oil-consuming states of the developed West with a particular desire to hurt the United States. 

The major focus of the research is on the economic factors, that influence the decreasing role of the trade unions, as a social institute. In times of recession workers tend to turn to unions for representation. However, the trend seems to change as fewer workers are willing to join unions due to their ineffectiveness in the changing global world.

The author states that the level of U.S exports to Mexico is influenced by factors such as exchange rates and capital flow within the two countries.  It is also affected by comparative advantage of products and prices of U.S goods relative to other players in the market. Finally, government legislations play key roles in this trade.

According to Marshall (6), the main economic factors examined in macroeconomics are gross domestic rates, price indices as well as unemployment rates. Thus, macroeconomics is more concerned with developing models that depict the relationships between factors such as inflation, national income, savings, investment, unemployment, consumption, and international trade among others.

north-south divide such that each nation gains equally from the cooperation though they are at different economic levels as seen in the study work of Breslin & Hook (2002). This form of regionalism aims at making attempts create mechanisms which are formal to deal with

The paper also shows that the G-22 developing countries have been blamed for halting talks. However, the U.S made unwarranted demands that halted the talks. Bhagwati claims that the multilateral trade negotiations represent an important part of a world trade organization that would suffer without these agreements.

The author of the paper states that the U.S, Canada and Mexico have significant and multifaceted economic systems. Canada’s economic trends are similar to that of United States, with significant growth in the sectors of services, mining and manufacturing. Canada’s GDP was estimated as $39,400 in 2010.

From 1990 till today the major worldwide changes forced the company to make big decisions. They had to expand across the continent and manufacturing only in the UK was not proving

Contrary to these fears, the actual inflation in the US has in fact become too low. The Federal Reserve’s measure of “core inflation” that excludes food and energy prices is barely above 1%. Paul Krugman argues that this is because the

The review of the political, social, economic and environmental conditions of Russia over the years reveals that the political parties in Russia have not been affected in their decision making due to the absence of strong interests of the people and their passive role in the political vision of the country.