Macro & Microeconomics Essays

In 2008, the United States experienced an unprecedented economic meltdown that spiraled to several nations across the globe. The documentary Inside Job, released in 2010, explores the factors and events leading to the collapse, one of them being the mismanagement by the banking sector in collaboration with the federal government.

Michelle grows 200 pounds of potato and 50 chickens per year. Thus the opportunity cost of potato producing is (=50/200), i.e. 1/4 chicken per pound of potato. Answer 2 The opportunity cost of chickens producing for Michelle is (=200/50), i.e. 4 pounds of potato per chicken.

Writer's Choice Table of Contents Table of Contents 2 1.0 Introduction 3 Summary of the Article 3 Factors to be Discussed 3 2.0 Discussion on the Economic Problem Issue 4 Cause of Problem 4 Impact on Economy, Society or Even Political Stability 4 Use of AS-AD Model 6 3.0 Government Policies to Solve the Problem 7 Reasons for the Formulation and Implementation of Policies 7 Comments on Effectiveness & Shortcomings/Side Effects 8 Use of AS-AD Model for Illustration 10 4.0 Conclusion 11 References 12 1.0 Introduction Summary of the Article The article ‘G-8 Says World Economic Prospects Still Weak’ published by Reuters revealed the alarming issues that seemed to occur which were mainly relati

In addition, the worsening economic state of china could also be considered as a contributing factor for America’s emergence as the top investors’ destination. The undergoing financial recovery spear headed by the Obama’s administration could have motivated most of the confidence in United States by foreign investors.

It is the amount of National Income (NI) and it is produced within a country. It includes all the private as well as public consumptions that occurred within the given territory for a defined period, viz., yearly, quarterly or monthly. It signifies the current state of any economy and is commonly measured every year (Haggart, 2000).

The country not only experiences high economic growth rates but also depicts an excellent living standard for its individuals. The economy of Canada has various special features, which make it way different from many other economies in the world. This term paper would focus on the economy of Canada after the recession during World War II (WWII).

Economic Analysis of Pollution Name Course Name Professor University Department Date Economic analysis of Pollution The issue of pollution is one of the most important topics of deliberation and discussions today. Over the recent past, the activities of man as he grows and develops in terms of economy have contributed to adverse impacts to our environment.

John Maynard Keynes proved as to how an economy can sustain its adverse position of unemployment along with high inflation without intervention of the government. The reason for which government uses this theory for improving economic performance is the power of controlling supply of money within an economy.

Once the company begins to receive more profit, it plans to expand its business in other niches like business process outsourcing to assist other companies in business operations. The present dilemma is the economic costs that the company might experience, as it focuses on the plans for the promotion of the new packages.

What can cause urbanisation in a developing country? Urbanization is the rapid growth of the size of population living in cities and towns. This is mainly as a result of people migrating from rural areas to towns, which is highly visible especially in developing countries.

In this case, the government can use the monetary policy as one of the means of stabilizing the economy. The central bank undertakes control measures in the interest and exchange rates thus, influence the credit conditions in order to achieve a stable economic objective.

When demand for various commodities and services decline, the production of both the demand and services consequently declines, resulting in a decreasing demand for workers, and mass unemployment in the long run. Any economy experiencing unemployment is marked by the situation where the total number of jobless individuals surpasses the number of available vacancies, such that even if all the available positions were to be filled, many citizens would still end up without work.

Present definitions of entrepreneurship often narrate the practical roles of entrepreneurs which include harmonization, creativity, improbability, capital funding, decision making, proprietorship, and resource distribution. There are three major roles of entrepreneurship which are, risk-seeking, innovativeness, and opportunity-seeking.

Gross Domestic Product and Gross National product have been in use for estimating economic well-being for about 60 years. As a measure of economic activity, GDP cannot be equaled. However, due to its positive economic inclination, it has been treated more as a normative indicator for both social and economic well-being.

The aircrafts include those for commercial airlines, aircrafts built to military specifications and space systems. Some of the companies in this industry based in the US include Boeing, Gulfstream and Textron to name a few. However, internationally, there are other companies dealing in the same and these include but not limited to Airbus (Europe), Embraer (Brazil) and Bombardier (Canada).

The focus of the case study will be entailed on the endeavor adopted by different governments for neutralizing this grave problem. Finally, the paper will inject some self-assessed recommendations for solving the problem of unemployment, a major indicator reflecting the economic health of a society.

Illegal immigration is the act of migrating to a country by illegal means challenging the nation’s immigration laws and sovereignty. Obviously, illegal immigration has been a potential threat to the economy of the United States for centuries.   As per reports, a vast majority of the illegal immigrants to the US come from Mexico.

The governments often introduce the policies of the minimum wage which acts as a floor to the price of labor employed. When the government enforces the laws of minimum wages, then the market forces are disturbed and equilibrium ceases to exist creating a gap between the demand and supply, which is of labor in this case.

  International Trade In the wake of globalization and liberalization, international trade has increased manifold. In fact, it is in the benefit of international consumers as they get the quality goods at the lowest possible prices; however, many economists oppose it as it affects domestic manufacturers.

The aggregate demand curve reflects price levels for goods and services produced domestically and which consumers, government, foreigners and businesses are willing to purchase. It slopes downwards to the right with the decrease in price levels with the increase in demand.

The economic conditions of the countries can be held responsible for whether the country will benefit from globalization. In this case, it is a certainty that the developed economies are in a favorable position. The conditions in the less developed or developing economies are not at par with the conditions of the developed economies.

The great depression is a great and serious historical economic disaster that began in 1929 and ended in 1939. The recession of 2008-2009 on the other hand was a shorter, yet serious crisis that began in late 2007, and whose impact on some nations is yet to end. The great depression and the last recession of 2008-2009 are different in terms of their lasting periods, causes, and effects on employment and world trade.

The shareholders of federal reserves are private banks (Solomon 1996). Almost all shareholders are private banks, and government owns none of their stock. When the government money gets limited, the treasury issues bonds to the dealers, which auction them off (Solomon 1996).

On the other hand, an increase in price of goods and services may lead to an increase in supply as the suppliers are willing to supply at higher prices to make substantial profits (Mankiw, 2011). The simulation will focus on micro and macro economics, shifts in supply and demand curves as well as their affect on equilibrium prices and quantity.

Nike is a US based company which was found by two athletes Bill Bowerman and Phil Knight. The company develops and designs sportswear apparel, footwear, and provides various channels for its marketing around the world. The mission of the company is to inspire every mankind with the force of sports and to entice innovation in the body of every human being (Nike Inc, 2011).

Per capita income was considered a preferable way, but further studies have indicated that this is not as clear in determining poverty levels. Two countries may have a comparable per capita level, but the incidence of poverty in these countries may differ. Income inequality is considered more precise in indicating the incidence of poverty which is a pointer to the quality of life in a country.

Investment in human capital can, therefore, be improved and enhanced through education. The most basic contribution to college education in increasing an individual’s human capital is the acquisition of skill. College education instills the required skill into an individual thus enabling the individual increase their economic value in the marketplace.

Output choices of firms were limited due to market demand and production function. However, not all firms respond to this limitation with the same approach. The number and size of the firms in a market or the market structure have to be taken into consideration as they may bring effect to the production and pricing decisions.

Economists argue that high taxation might lead to the emergence of black market trade. It would be advisable to keep taxes minimal in order to reduce the possibility of the emergence of black markets. A good example is the effect of high prices of heroin in Norway where the level of consumption decreased with the increase in the prices.

al, 2011). Therefore, market structure affects the market outcomes by influencing opportunities, motivations and decisions of vast industries participating in the market. The aim of market structure analysis is to isolate the effects in an attempt to predict and explain the market outcome.

A bruising force that has now left a permanent mark in the world of academia like no other, the subject of globalization and its effects, particularly on the world’s poor, remains a gold mine, generating numerous scholarly papers that only serve to widen the gap between two sides armed with counterfactual data that either cannot effectively pull down.

The present US economic environment has mixed implications for different fiscal and monetary policies. On one hand, policies such as tax benefits and quantitative easing have posed the desired impact on the recovery of the economy; on the other, there is a fear of great inflation. Again, there is a high possibility of persistent economic growth.

People have started considering themselves not only citizens of their countries but global citizens, impacted by the global happenings. The internet and the economy have played a leading role in bringing people closer (“Wise Geek” par. 1). It is worth mentioning, that globalization has removed the distances of time. 

America has long been perceived as an economic powerhouse.  The country, after all, is considered to be the ‘Land of Opportunity’, and has been home to countless immigrants through the years.  These individuals have left their own country in search of new opportunities and promises.  They desired a land where they could follow their dreams and achieve true economic freedom. 

And it’s the only way to return to the heated level of employment and growth our economy achieved prior to the Financial Crisis.” He explains in many ways why innovation leads to “buyers surplus,” but the crux of his book is a discussion of the origin of innovation.

Considering the controversy around pot, does the experiment entail that the government is making an addict out of us? The answer is no and the new state policy as contained in WSJ article actually makes economic sense. Experts actually have the opinion that the prohibition of drugs by the state is hinged more on speculation and fear mongering rather than empirical evidences.

The most common definition that economists use for the number of unemployed is those between the ages of 18 and 60 who are without work but who are available for work at the current wage rate. If the figure is to be expressed as a percentage, then it is a percentage of the total labor force, labor force is defined as those between the working age who are willing and able to work. 

The UK’s response to the crisis involved copious use of its monetary autonomy outside the Euro area, leading to the depreciation of the British Pound vis-à-vis the Euro, but also to an increase in the sales of UK’s manufacturing sectors and the prevention of consumer price deflection (World Bank Growth Commission Report, 2010; Belka, 2009).

The region of South Florida comprises of three countries namely Monroe, Miami-Dade and Broward. The three international gateway of the region serves the purpose of tourism and commerce gateway. The region is the part of the seven county South East Florida region.

This paper tells that the debate on whether to retain the one dollar bill or not has been with us for decades. However, in recent times more attention is shifting towards the replacement of the dollar bill. The world economy and precisely that of the United States has been on a declining trend with the dollar losing its grip against other major world currencies.

Brazil is now the 7th largest economy in the world (EconomyWatch Content, 2010). From 2004 to 2008, Brazil has been experiencing GDP growth rates ranging from 5.1 percent to 8.48 percent (EconomyWatch Content, 2010). From the Central Intelligence Agency World Factbook, in 2010, GDP was at US $2.172 trillion growing at an estimated 7.5 percent rate.

Considering the ethical concern of your organization from its vision and mission statements, we understand that your aim is to ‘build a future in which people live in harmony with nature by conserving the nature and to reduce the most pressing threats to the diversity of life on Earth (WWF Official Website).

The majority of labor problems in the US, Japan, the EU, and other advanced industrial nations are attributed to the degradation of incomes and employment of the unskilled labor force. The income gap in the US expanded due to development in education and technology for some groups while declining for others such as minority groups after 1980.

Economics Name Institution Economics Q = 10,000 – 9,000P When p= 0, Q = 10,000 – 9,000(0) Q = 10,000 When Q=0, 0 = 10,000 – 9,000P P= -10,000/-9000 = $ 1.1 When P= $25, Q = 10,000 – 9,000(25) = -215,000 When P=$35, Q = 10,000 – 9,000(35) = -305,000 Price ($) 35 25 1.1 305,000 215,000 10,000 Quantity Demanded The elasticity of the demand is calculated based on the changes in price while all other factors are held constant (Gans & Mankiw, 2011).

The international economy has commenced gradual stabilization after a period of a downward trend that threatened the world economies. Stabilization is occurring within the eurozone and the U.S, although massive debts that are prevalent in established markets coupled with augmenting oil prices still pose threats in the prospect.

The habit is considered to be luxurious which is further accumulated with imperfect information. The regular consumption and increasing purchases of demerit goods are also identified to have a severe consequence on the social stability of any economy, owing to which the UK government has learned to implement a few noteworthy strategies.

His annual income is although not that high but allows him to maintain a standard life style. He has been able to afford a car which he uses for family purpose. He is going to get married in the coming years and so he is concerned about his savings. He prefers a tradeoff between price and quality and always wants to hunt for the product of highest quality at lowest price.

According to the research report of Forbes 2011, Brazil is a country that is home to a large number of billionaires, and ranking 8th among all the countries of the world in terms of the number of billionaires in the country. By the end of the year 2011, Brazil’s economy had become the sixth-largest economy in the world (Eckes, 2011).

The reason for the inability of many economists to adequately judge what might have been had TARP not been instituted is due to the fundamental building block of logic that states it is oftentimes impossible to prove the negative. Therefore, to review TARP and say that had it not been done the economy of the United States and the banking system the world over would have rectified itself naturally is a nearly impossible premise to prove.

MACRO AND MICRO ECONOMICS. Copper is a substance that gives a measure of the world’s economy. The global price virtually trebled between the beginning of 2005 and the 2008 summer prior to their fall to $ 3000 in the 2008’s autumn (Geoff, 2012: 3). There has been an apparent price recovery and thus prices of copper are currently more than that of 2007-2008.