19 pages (4750 words)
, Download 1
, Research Paper
Monetary policies differ from fiscal policies as the latter consists of governmental spending, budgets, borrowing associated with this process, and taxation laws (Woodford and Walsh, 2005, pp. 467-470). Monetary policy is primarily controlled by a country’s central bank that indirectly controls the money supply in a country.
The Gulf Cooperation Council (GCC) also known as the Cooperation Council for the Arab States of the Gulf (CCASG) was formed in 25 the May 1981 as a political and economic bloc consisting of the states bordering the Persian Gulf. The members of this union include Saudi Arabia, Qatar, Bahrain, United Arab Emirates, Kuwait, and Oman.
Hire a pro to write a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
The quest for wealth equality is at the peak of the need for the attainment of uniform economic growth and the reduction of poverty levels around the world. The term economic or wealth equality espouses among other things equal distribution of assets and income levels amongst individuals or groups of people.
The paper throws light on Adam Smith, widely renowned as the father of modern economics and a philosopher of morality. Since his era, economics has been viewed to be more of a science. However, in the theory of economics, critical ethical issues are always evident. The major question, though, has often been whether the entire society’s interest would be realized in the pursuit of personal greed.
Recession leads to major changes in society. It brings tremendous movement in the structure of companies, in the management strategies implemented by the companies and behaviors of the people toward spending. The sudden rise in unemployment, issues salaries and other employment benefits coupled with the decline of interest affects consumer behavior
Mandatory spending or expenses are those like health insurance for personal budgeting or rent for business budgeting. Mandatory spending is those expenses without that a business cannot afford. In doing business, there are a number of expenses that it has necessarily to meet like salary or wages when there are employees.
It has led to changes in industrial organizations’ market transparency. The airline industry and its segment Online Travel Agencies (OTA) have exhibited increased transparency level in B2B and B2C transactions. Orbitz – an OTA has risen to the occasion to reap the benefits of doing business via the internet.
Reith also is of the view that the role once undertaken by unions has been overtaken by events that have made their role statutory as provided through the Parliament. The existence of a union means the danger of employees being forced to join a Union and allow the Union to negotiate on their behalf, even if they do not wish to join the Union.
From this paper, it is clear that with the present day business environment requiring the countries to attract more foreign direct investments to accelerate the economic growth it becomes necessary for them to control the inflationary tendencies so that the investment firms have an incentive to route their investments in such countries.
The Appellate Body is a part of the dispute settlement system has not really been able to exercise its power to the full potential. According to Joseph Weiler, the Appellate Body is not referred to as a ‘court’ but it actually is one. This may be justified by the fact that the actions taken by the panels and the body are adjudicative in nature.
In attempting to highlight some of the considerations the managers must take in the event of relocating to other countries in view of globalization, it is imperative to define the whole concept first. Globalization is loosely defined as the economic activity taking place across the national boundaries (Buckman 2004).
The author states that explicit costs are “money” payments made by a firm to the factors of production such as rent paid on land, wages paid for labor, interest paid on borrowed capital etc., while implicit costs include all “non monetary” payments which could have been made to self-employed resources such as rent for self-owned land.
16 pages (4000 words)
, Download 1
, Research Paper
According to the paper, the economic conditions of consumers have deteriorated as the purchasing power has lowered. Thus the consumers are more careful about how they spend their money. Previously when they went to different stores to buy different products, they now prefer to save on travel expenses and purchase products from a superstore only.
The various economies have developed their competitive advantage purely due to their geographical locations. The production of typical goods and services, therefore, carried the relative competitive advantage over the competitors purely because of the advantages enjoyed owing to the location of the country.
The rules and guidelines set by governmental bodies may also become instrumental to the credit crunch. The statutory orders to increase the capital for running financial institutions in lieu of the want of capital liquidity to quantify the risk-weighted level of assets may force them to increase capital reserves
The term ‘industrial relations’ is explained in the study of Frank et al.; in the above study, it is noted that the specific term ‘refers to the important relationship between employers and employees as social partners’. The above relationship could be possibly expanded – including also the relationship of employers and employees with the state/ authorities.
The national administration decided to adopt corrective measures not only to put an end to the problem but also to rectify the previous losses. This forcible measure had a mixed impact upon the private sector units of the nation. This paper evaluates whether the program had really been a beneficial act for every segment of the nation or not.
Under government intervention project coordination would not be any problem, externalities would be considered and so as associated benefits leading to consideration of socially desirable investments under government intervention that under market economy would have never been considered. An example of that might be an investment in human capital.
There has been a distinction made between personally-delivered jobs and impersonally-delivered ones. Impersonally delivered jobs are more likely to be offshored as there is little or no need for interaction with the customer. It has been estimated that up to 29% of US jobs can potentially be offshored in the next few decades
Despite the fact that there were a number of positive contributions made by the tow products, it is important as industrial products such as starches, sweeteners, corn oil, beverages, industrial and fuel alcohol. However, what is more, important is the relationship between the use of industrial and high fructose corn syrup.
The huge exports from China to EU have resulted in efforts to put in place quotas for China’s imports in EU in protecting their domestic market. All the same, the biggest threat of China to EU is the China’s current rapid expansion to Africa, a region that has over the time enjoyed compact relations with EU, which is shifting towards China.
It is vastly agreed that petroleum is vital for the day to day running of the modern world. Over the years, the world has experienced an increase in consumption of petroleum and petroleum-related products. This is subject to modernization and advancements in the transport and manufacturing industries.
Interestingly, these differences have been there in the society. However, the great recession may have played a significant role in magnifying every form of inequality. The great recession impacted negatively on unemployment rates and dropping of house prices, which were sustained hence leading to adverse consequences.
The New Institutional Economy theory provides an assessment of the implications of the institutions on the overall behavior in the region. The Solow Type Growth Theory is assessed and this provides three factors that affect foreign direct investment including technological advancement, capital accumulation in the economy, and the labor force.
According to the paper, the role of the private industry and its multinational corporation (MNC) in the economic and progress in a region are part of a new corporate objective of blending with the general public to establish a strategic focus aligned with the common objectives of both the general public and the corporation.
Though only defined contribution plans are required to provide periodic summaries of plan accounts to workers, this should be the rule with defined benefit plans as well. This will help displaced workers make appropriate decisions, should they move from a job with defined benefit to one in which defined contribution is offered.
The theory of demographic transition presents the relationship between demographic change and economic development in structured and stylized form. The process of demographic transition starts with a decline in mortality and decline in fertility which lead to first increased and then decreased population growth.
The financial crisis in the UK was a part of the global implications of the Sub-Prime crisis in the US. Increased level of globalization translated into increased vulnerabilities when the global financial crisis hit. Businesses were heavily interlinked and financial institutions held a significant degree of power in society.
The revolutionary aspect of the last many years is surely the advancement of information technology. The advancements had revealed relevant information to enhance productivity and encourage innovation in any region. Introduction of information technology has increased the economic output and hence has considerably contributed to the economic growth
Article 101(1) applies to both horizontal and vertical arrangements. In this regard, a horizontal agreement is one that takes place between “rival undertakings”. Vertical agreements are agreements that occur between undertakings that are not rivals because they function at different places in the market.
Universal Declaration of Human Rights made a landmark declaration on 10 December 1948 reaffirming that “all human beings are born free and equal in dignity and rights and that everyone is entitled to all the rights and freedoms – without distinction of any kind such as race, color, sex, language, religion, birth or another status”.
During 1971, following one of the UNCTAD’s recommendations, it was pointed out that the nations that had entered into the agreement under the GATT (General Agreement on Tariffs and Trade), predecessor to what is now known as the WTO, had agreed upon on a waiver of ten-years for the prerequisites that require equal conduct of trading partners.
Labor conditions, after globalization, have also changed dramatically. Organizations are taking more interest in giving proper education and training to their employees. Increasing competition in the world market has emphasized the need for developing a better and more effective educational and learning environment.
Saudi Arabia, the second largest country in the Arab world (in terms of area), possesses huge oil reserves and has had a significant level of production capacity. Over the years, the country has established its supremacy in the global oil market. For the past decade, a mean yield of 10.26 million barrels per day has been produced by the country.
Adam Smith who is the founder of modern economics laid his emphasis on the role of cooperation, rule of law, and trust as ideal prerequisite to enhance economic and trading activities. The guarantee of the three essential elements, Smith believes that the entrepreneurship will lead to economic flourishment.
According to the paper, continued progress in computer and information technology has dynamically transformed the role of information, its value and access to it. It has opened venue with which people across the globe communicate and become connected. In this regard, these two phenomena have created a smaller world.
This New Zealand Corporation has been successful in the Chilean Market. The economic situations of some South American countries are improving as they are becoming self-sufficient. In addition, the installation of the Glidepath automation systems wills ensures the airport affirm the increasing progress of the countries.
By 2011, Azerbaijan’s daily production of oil stands at 800000 barrels of oil per day. This is combined with a gas production of 1 billion cubic meters per year. It is for this that the country poses to become one of the giants of oil production once again. Due to this reason the EU and Russia have fought over the control of the oil fields.
Coal, iron ore, bauxite, grain, and alumina are those products for which there is not much competition. The products are extracted in countries which have a comparative advantage over other countries. This enables them to export to other countries. Coal and iron ore are the most traded commodities.
Thorough research conducted by historians, as well as social scientists, has expanded us on the necessary skills and knowledge of slavery and more importantly its economic repercussion to blacks. Reportedly, this book pays little attention to the post-slave experience of the economy of America.
A state actor is an individual or entity who executes their role on behalf of a governmental body and as such is subject to checks placed by the constitution to protect the freedoms and rights of individuals. A private actor refers to a person or group of people who are motivated by their profit motive and not under government control.
A regressive tax is one where as one’s income rises, the amount that is paid as a percentage of one’s income falls. A higher earner may be paying more of the tax in absolute terms but as a percentage of their income, the amount is falling. These taxes are obviously considered to be unfair as they redistribute money from the poor to the rich
Investments by the US firms abroad in 2007 figured at $333 billion. Counter-wise, the volume of foreign investment in the US real estate and business amounted to $237 billion in 2007. The importance of FDI can be gauged by the fact that the OECD has taken measures to ensure a steady flow of investment through special agencies.
So the consumers get the benefit of that system with the higher level of consumer’s surplus. On the other hand, foreign competition is supposed to increase the efficiency level of domestic firms. That would enhance the allocative efficiency of the economy. (Buffie 2001)
The whopping total cost of the crisis is equivalent to around a fifth of the entire globe's annual economic output and includes capital injections pumped into banks in order to prevent them from collapse, the cost of soaking up so-called toxic assets, guarantees over debt and liquidity support from central banks
One day in 1991, the United States and other liberal democracies the world over woke up to realize there was no longer an enemy at the gates. The Soviet Union had collapsed. The pivotal event bid farewell to the bipolar world they were accustomed to and heralded the era of US supremacy. A scant handful of analysts had predicted such a development.
GDP is the cumulative total amount of goods and services which a country produces within a given year. GDP growth changes year-in-year-out depending on the economic conditions. Other factors determine a country’s GDP growth and include stability of politics, environmental factors (global warming) and regional stability among others.
The United States’ dependency on oil has become more of a threat than a benefit, with some of these foreign countries threatening to cut the United States from their oil supply unless other needs are met (Klare, 2010). As tensions continue to increase, the need to cut foreign dependency must decrease.
As the research paper outlines, China has again become the target of strong political pressure from the U.S. and European political leaders who are calling for the removal of the currency peg the country imposed at the height of the 2008 financial crisis, and in so doing allowing the currency to appreciate to its normal level.
The average $73 per hour labor cost which is being paid by the ‘Big Three’ forms only a part of the production cost of the vehicles, therefore this is not the only reason behind ‘Big Three’s downfall. The management should be held guilty for many faulty decisions over the years which have made these companies and their products uncompetitive.