....What are three economic stances that a government may have? Describe each of these stances. Three economic stances a government may have are neutral fiscal, it is usually undertaken when an economy is in equilibrium. Many governments spend fully funded by tax revenue and has an overall outcome that has a neutral effect on the economic activity. 2. What are the four different types of economic resources? Describe each type. There are 4 different types of economic resources, there is land; which land refers not only to physical land, but natural resources we use. Capital it is all the manufactured tools and aids used to produce goods. Labor is the physical and mental work necessary that creates goods and services for us. Then there is entrepreneurial ability this is when humans use there abilities to find resources. 3. What is a...
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...Multiple Choice 1. The term _____ refers to an individual’s personal beliefs about whether a decision, behavior, or action is right or wrong. a. value b. culture c. ethics d. religion e. expectations (c; easy; p. 119) 2. Fruit juice suppliers in South America rely heavily on _____. a. elderly employees b. child labor c. female workers d. illegal immigrant workers e. none of the above (b; moderate; p. 117) 3. What ethical abuses have independent contractors manufacturing shoes for Nike been accused of in past years? a. child labor abuse b. unsafe working conditions c. violations of local regulations d. all of the above (d; easy; p. 117) 4. Ethical beliefs are _____ in nature. a. societal b. regional c. familial d. individual e. cultural (d; difficult; p. 119) 5. Which of the following is not a factor that influences one’s ethics? a. family b. peers c. observation of others d. religious beliefs e. all of the above influence ethical beliefs (e; easy; p. 119) 6. Behavior that does not conform to generally accepted social norms is considered _____. a. ethical b. unethical c. illegal d. unregulated e. none of the above (b; easy; p. 119) 7. All of the following are ethical...
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...didn't own the underlying bonds. The shock happened because when the housing market went south, the people who shorted housing were due to be paid a lot, and the banks were overexposed to cover those losses. The Fed Reserve's role was to utilize monetary policy to ensure liquidity in this credit crisis, when banks were cash strapped. Thus, they lowered interest rates. We also saw capital flows into the US economy in the form of sovereign wealth funds helping to infuse capital into banks like Merrill Lynch and Citi. Furthermore, one should be cautiously optimistic about the current state of the economy. The cautious optimism is evident in the Big Three indicators of the US economy: GDP, Unemployment, and Inflation. As for GDP growth, since 2009, growth has been hovering between around 0 and 5%. However, when considering the changes in government expenditures, whenever the government’s spending decreased, real private investment and residential investments decreased as well. As for unemployment, although the Unemployment rate has been trending downward, and now averaging 5% for the first time since 2008, the US Economy demonstrates that the changes in nonfarm employment has been drastically decreasing. So unemployment numbers look better because people aren’t being counted in the labor force. Also, inflation has remained around 2% for the past few years, but concerns are around the real interest rate falling negative. Several shocks hit the U.S. economy post 2008, some of which include:...
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...Discussion Papers in Economics INDIA’S STANCE AT THE WTO: SHIFTING COORDINATES, UNALTERED PARADIGM Amit Shovon Ray* and Sabyasachi Saha January, 2009 Discussion Paper 09-06 Centre for International Trade and Development School of International Studies Jawaharlal Nehru University India * Corresponding author, e -mail: amit.shovon.ray@gmail.com INDIA’S STANCE AT THE WTO: SHIFTING COORDINATES, UNALTERED PARADIGM Amit Shovon RAY ∗ Jawaharlal Nehru University, India and Indian Council for Research on International Economic Relations (ICRIER), India Sabyasachi SAHA Indian Council for Research on International Economic Relations (ICRIER), India ∗ Corresponding author, e -mail: amit.shovon.ray@gmail.com INDIA’S STANCE AT THE WTO: SHIFTING COORDINATES, UNALTERED PARADIGM ♣ Abstract: India’s stance at the WTO has undergone a sea change since the beginning of the Uruguay Round. This paper attempts to trace the shifting coordinates of India’s position at the WTO. By focussing on three specific areas of negotiations, namely agriculture, services and TRIPS, the paper presents a theoretical analysis of how India’s stance at the WTO has evolved over time and whether it reflects any paradigm shift. In the light of international relations theory we argue that although the coordinates of India’s stance at the WTO have shifted over time, the underlying ‘neorealist’ position adopted by India remains by and large unaltered. I. Introduction The...
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...MANAGEMENT TECHNOLOGY, GREATER NOIDA RBI'S MONETARY POLICY INITIATIVES SINCE 2008-09 AND ITS EFFECTIVENESS IN CONTAINING INFLATION RESERVE BANK OF INDIA It is the central banking institution of India and controls the monetary policy of the rupee. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of India Act, 1934. Reserve Bank of India plays an important part in the development strategy of the government. It is a member bank of the Asian Clearing Union. Reserve Bank of India was nationalised in the year 1949. The general superintendence and direction of the Bank is entrusted to Central Board of Directors of 20 members, the Governor and four Deputy Governors, one Government official from the Ministry of Finance, ten nominated Directors by the Government to give representation to important elements in the economic life of the country, and four nominated Directors by the Central Government to represent the four local Boards with the headquarters at Mumbai, Kolkata, Chennai and New Delhi. Local Boards consist of five members each Central Government appointed for a term of four years to represent territorial and economic interests and the interests of co-operative and indigenous banks. INFLATION Inflation is a rise in the general level of prices of goods and services in an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and...
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...ECONOMICS PROJECT REPORT ON INTEREST RATES AND INDUSTRIAL GROWTH (2009-10 to 2011-12) Submitted By: Mohana Goel (12DM077) Mohit Bhola (12DM078) Nidhi Dalal (12DM090) Nishant Raj (12DM097) Nishtha Chugh (12DM098) Piyush Chib (12DM102) CONTENTS 1. INDIAN ECONOMY:Overview 2. INTEREST RATES 3.1. MEANING 3.2. REAL vs NOMINAL INTERST RATES 3.3. TYPES OF INTEREST RATES 3.4. EFFECT OF INTEREST RATE RISE 3. MONETARY POLICY 4.5. MEANING 4.6. OBJECTIVE 4.7. TOOLS 4.8. IMPORTANCE 4. 2009-10 5.9. OBJECTIVE OF MONETARY POLICY 5.10. POLICY STANCE 5.11. ANALYSIS 5.12. OBSERVATION 5. 2010-11 6.13. OBJECTIVE OF MONETARY POLICY 6.14. POLICY STANCE 6.15. ANALYSIS 6.16. OBSERVATION 6. 2011-12 7.17. OBJECTIVE OF MONETARY POLICY 7.18. POLICY STANCE 7.19. ANALYSIS 7.20. OBSERVATION 7. CONCLUSION 8. RECOMMENDATION 9. BIBLIOGRAPH INDIAN ECONOMY: AN OVERVIEW India is a South Asian country that is the seventh largest in area and has the second largest population in the world. India covers an area of 3,287,240 square km and its population stands at 1.215 billion people in 2010. Understanding the Indian Economy Large, dynamic and steadily expanding, the Indian economy is characterized by a huge workforce operating in many new sectors of opportunity. The Indian economy is one of the fastest growing economies and...
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...changes on the part of the government of China. Here, then, are the prerequisites that Levis must determine, when and if it returns to China. Prerequisite One: Clean Hands Doctrine This is a concept in both Civil and Roman law that all parties to a suit or an argument come to the table with "clean hands" (in other words, no secret guilts and no hidden agendas) ("Global"). This is essential for Levis because its stated reason for leaving China -- human rights violations -- is suspect. In the past, when Levis had found suppliers and/or vendors in its foreign operations that failed to live up to a human rights code the company took action. According to the case, this code of ethics was brought about because the company felt that it had been "lax in keeping informed about conditions for employees at its overseas factories" ("Levi's", p. 104). This code, said to be the first of its kind for a multinational corporation (MNC) covered "employee working conditions, labor relations, environmental impact, and regular inspection for compliance" ("Levi's", p. 104). The implication in the case is that we should praise Levis for this noble stance. In fact, the reaction should probably differ, as we see in Prerequisite Two. Prerequisite 2: Open Your Eyes Levis withdrawal from China in 1993, according to the official stance of the company, was that there were "systemic labor inequities" ("Levi's", p. 104). The "Levi's" then cites as evidence of that stance an article in Business Horizons...
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...to recognize them officially as a nation separate from the PRC. Both parties involved – the PRC and Taiwan – have taken incredibly stubborn stances on this issue for the past several years, and it does not look like there will be an easy solution in the near future. China-Taiwan cross-strait relations are quite complicated, but for the sake of simplicity, it can be broken down into the period following the Japanese control over Taiwan, the defeat of the KMT, the period between the rise of the Democratic Progressive Party (DPP) and contemporary times, and finally, the rest of the world’s – namely the US’ – involvement in the entire matter. Prior to 1949, China’s governing group was the KMT – a nationalist party, as they call themselves. For 50 years, the Japanese controlled Taiwan – though arguably, they did more good than bad, as Taiwan developed much quicker than mainland China through their help – but was forced to relinquish its hold in 1945, when the Axis Powers were defeated. In October of 1945, the US – on behalf of the Allied Forces – handed temporary control over Taiwan to the KMT. However, though the Taiwanese were initially grateful for their return to Chinese control, this quickly changed as they “became resentful of what they perceived as a high handed and frequently corrupt KMT authorities inclined to the arbitrary seizure of private property and economic...
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...Introduction In this essay is to clarify my opinion on why the U.S. should not lift the embargo on Cuba. Many critics have expressed their opinion as to why, the embargo should be lifted. This paper will explain why united States order a trade embargo against Cuba? What are the results for both countries? [What was the effect of the embargo on the citizens of Cuba and what was the result of the embargo on the US?], and what did the Cuban Government do to retaliate against the Trade Embargo? Finally, look at the strategic results and necessity for trade embargo in a globally interconnected economy. When the United States defeated Spain in the Spanish American war of 1898, Cuba along with Puerto Rico and Guam were signed over to the United States by Spain. The United States had the right to involve in the affairs of Cuba at any time. When Castro overthrew the existing government, run by President Batista, the United States supported this action by imposing arms embargo against the Batista government in 1958. Then in or about 1960, Castro not only seized private lands and companies of Cuban citizens, but also subsidiaries of the United States of America. This is when the Eisenhower administration imposed trade restriction with the exception of food and medical supplies. Not only was Castro started trading with the Soviet Union; but the Soviet Union also building missile bases in Cuba; the United States severed all ties and imposed a permanent embargo on Cuba at the...
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...policy designed to: (1) counter economic cycles in order to achieve lower unemployment, (2) achieve low or no inflation, and (3) achieve sustained but controllable economic growth. In a recession, governments stimulate the economy with deficit spending (expenditure exceeds revenue). During period of expansion, they restrain a fast growing economy with higher taxes and aim for a surplus (revenue exceeds expenditure). Fiscal policies are based on the concepts of the UK economist John Maynard Keynes (1883-1946), and work independent of monetary policy which tries to achieve the same objectives by controlling the money supply. Stances of fiscal policy The three possible stances of fiscal policy are neutral, expansionary, and contractionary. The simplest definitions of these stances are as follows: • A neutral stance of fiscal policy implies a balanced budget where government spending equals tax revenue. Government spending is fully funded by tax revenue and overall the budget outcome has a neutral effect on the level of economic activity; • An expansionary stance of fiscal policy involves government spending exceeding tax revenue; and • A contractionary fiscal policy occurs when government spending is lower than tax revenue. However, these definitions can be misleading because, even with no changes in spending or tax laws at all, cyclical fluctuations of the economy cause cyclical fluctuations of tax revenues and of some types of government spending, altering...
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...Harvard on China: The Apologetics of Imperialism argues that China’s economic and social disruptions are caused by imperialism. However, when one examines the evidence chosen and rhetoric of both sides, one may realize the faults in Nathan’s essay which are not shown in Esherick’s. Esherick, as opposed to Nathan, delivers his arguments and defends his stance in a well-rounded manner along with wise usage of his evidence–forming a more crystalized and convincing argument. The two sides disagree on the fundamental question of whether imperialism brought harm or benefits to China in three aspects: effects on the economy, effects on politics, and the results of imperialism. Nathan focuses on the economic benefits foreign trade has brought, while undermining the arguments that his opponents made (in this case, mainly James Peck and Issac’s arguments.) Nathan explains that “it is difficult to establish a negative relationship between the foreign presence and the success of Chinese enterprise.” He attributes the failure of the Chinese industrialization process to the “failure of that sector as a whole to develop,” and states that the problem can “hardly be explained by the depressing effect of foreign treaty port enterprise on Chinese treaty port enterprise.” He responds that the net drain of wealth is inherently inevitable since “China’s national debt per capita and her foreign trade per capita must have been among the lowest in the world.” He also points out that “the distorting...
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...INFLATION Inflation In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time. It is, often, one of the most unwanted and misunderstood of economic phenomena. We tend to believe that the prices of commodities will, over time, rise and fall, responding to the pulls and pushes of demand and supply. An unexpected decrease in the production of a commodity will lead to increase in the price of that commodity, just as an unexpected increase in the production will cause the prices to fall (cost push). Another reason for the price fluctuations can be attributed to an unexpected increase/decrease in the demand of commodities (demand pull). These price movements are a way of signaling to consumers that they should consume less of the commodity facing shortage and more of the good in abundance and to producers to produce more of what is in short supply and less of what is available in plenty. Inflation, has little to do with these changes in relative prices of goods and services though the price fluctuations of the general price level may be accompanied by relative changes in prices as well. Government policies are often directed to smoothen these price fluctuations. For the common person, Inflation is unwanted, especially on those occasions when the rise in prices of goods is not matched by an equivalent increase in the price of labour as the prices of commodities required increases. Inflation has been with humankind ever...
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...International Management 375 Assessment 1 - Individual Portfolio Portfolio questions: week 3 1. Discuss how the Internet and culture interact. Which most affects the other and how? Give some examples. Internet has now become an integral thing from the viewpoint of organizations and society and it is now emerged as a technology which is creating effectiveness for these aspects from different angles (BEREND AUTOR WIERENGA, 2000). There is a considerable difference found among internet and culture and the interaction of both of these aspects are not easy, as there are certain countries and environment and cultures wherein the utilization of internet is not easy because of the backward thinking of the people living in this region. The thing that affects the most to the people is culture not the internet (Chernev, 2012). If the culture and tradition of the country is effective and clear then the utilization of the same is also effective which will affect over the position of the people. Some of the examples are of African and European region countries in which the stance of utilization are totally change with each other. 2. Discuss the types of operational conflicts that could occur in an international context because of differences in attitudes towards time and individualism. Give examples relative to specific countries. Organization is a name wherein people belong to different demographics and mindset work together merely for the achievement of a single and pre-specified...
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...in America. This movement would forever be known as Occupy Wall Street. Taking over Liberty Square in the Manhattan Financial District in New York, a group of Americans began a nonviolent protest over the economic state in America. One of the stances that Occupy Wall Street held was that 99% of American’s economic well-being was controlled by the top 1% of Americans. This economic truth would no longer be accepted by this group of Americans. This group also called for solidarity inside of the 99% of Americans defining this in a set of principles. These principles involved a direct and transparent engagement of participatory democracy, exercising responsibility on collective and individual levels, empowerment of each other against all oppression, redefining how labor is valued, the sanctity of individual privacy, that education is human right, and that all knowledge, technologies, and culture be open to free access, creation, modification, and distribution (Stone, 2011)). Together in this movements solidarity they came together in New York to speak out about the injustices that they have suffered at the hands of corporations. These facts were that homes had been placed in foreclosure without the original mortgages, bonuses have been given to executives after corporations have received bail outs from taxpayers, the constant outsourcing of labor and using that ideal as leverage to cut workers’ healthcare and pay, and purposely keeping people misinformed and fearful through their...
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...ECONOMICS & STRATEGY THE JSK STRATEGIST June 07, 2010 Federal Budget 2011: Affordability Vs. Sustainability!! A Blurry Hype Or A Leap Of Faith?? Executive Summary At the national front, government remained excessively occupied with budgetary measures to be adopted in the finance bill, that were announced on June 5th. Capital market participants and investors, in anticipation, distanced away from large exposures as federal budget closed in, with implementation of Capital Gains Tax (CGT) on stock market transactions. Nationwide implementation Value Added Tax (VAT) regime at 15% has been deferred by three months in order to develop a productive framework for enforcement and collection mechanisms. Addressing IMF’s concerns, the removal of subsidies and a raise in power tariff by 6%, in addition to the expansion of country’s tax base remained core issues in recent budget announcements. Economic Recovery: Exceeds Expectations! Federal government revised GDP growth levels to 4.5% from a low of 4.1% sighting better than expected economic recovery for FY2010. Expansion in large scale manufacturing and growth in services sector would be the key factors contributing to economic growth with 5.6% share of manufacturing, 4.6% for services and 3.8% for agriculture sector. Also, the crippling power sector with the introduction of costly rental power plants is expected to provide significant relief to the industrial sector. Additionally, government is making all out efforts to curtail...
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