...Fundamentals of Macroeconomics Macroeconomics examines the structure and performance of the economy. Economic theory states that we live in a world of scarcity; we do not have enough natural resources or time to fulfill our unlimited desires. Economics studies how we allocate our scarce resources. Therefore, this paper will discuss many fundamentals of macroeconomics. Gross domestic product (GDP) is a monetary tracker that is used by the government to tracker the spending of the citizens as wells as the government. This tracker also allows the government to determine if our country is at risk. Real GDP allows the government to track the spending of the country on a yearly basis. Real GDP tracks what we produce as well as the price consumers pay for goods and services in any given year. Nominal GDP occurs when there is some type of economic problems. If the price of the goods and services increase, nominal GDP does not change. Unemployment rate is a rate in which citizens are not working but looking for employment. Inflation rate is a rate in which prices of goods and services are increasing such as gas and groceries. When inflation occurs consumers have a difficultly purchasing products and services. Interest rate is a rate that is set by the lender on the repayment of a loan. They are usually called APR annual percentage rates. Interest rates are determined by the borrower’s ability to repay the loan and credit worthiness. Purchasing of Groceries or food in the grocery...
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...survive the unknown elements. America built it's foundations on the formation of the first original thirteen colonies. It was Great Britain who was at the head of the table and the colonies resided at its side under its control and rule. With Britain being so far from America, the colonists became tired of being under the rule of the king and his parliament, and began the in bark on gaining their freedom from its dominate hold and control and went to war with the help of France and won. After gaining their independence America was now starting over with no financial stability to help sustain its colonies, so America began to borrow loans from other countries to help establish its economy. The nature of the American economy in the last decade of the 18th century and the attempts by its citizens and leaders would help define the United States in so many ways. When the colonists gained their freedom and independence little did they know the challenges that they would face in forming the nation's economic system. Early on in the quest to establish the economy, America realized that manufacturing and the trade of farming would help start their economic journey and gain them a financial beginning. For “Production, either agricultural or manufacturing, was at the heart of the domestic economy.” American manufacturers of goods and farmers no longer were under the rules of Great Britain and now had more freedom to do as they wished in order to gain wealth for the economy and themselves...
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...Faculty of Business Studies Module: Presentation and Communication Skills Examiner: Dipl. Ök. Marina Alvares-Wegner The BRIC countries Leslie Authier Matr. No.: 7007017 E-Mail: leslieauthier@orange.fr Diana Carolina Ramirez R. Matr. No.: 7004479 E-Mail: dianacarolina_puebla@yahoo.de Maya Höpfner Matr. No.: 7003768 E-Mail: maya.hoepfner@googlemail.com Table of content 1 Introduction...................................................................................................... 2 2 The Federative Republic of Brazil .................................................................... 3 2.1 General information on the Federative Republic of Brazil....................... 3 2.2 Brazil’s connection with the European Union.......................................... 4 2.3 Brazil’s financial situation........................................................................ 5 2.4 Brazil’s imports and exports.................................................................... 6 2.5 Brazil’s leading companies ..................................................................... 9 3 The Russian Federation................................................................................. 10 3.1 General information on the Russian Federation ................................... 10 3.2 Russia’s connection with the European Union...................................... 11 3.3 Russia’s financial situation.................................................................... 12 3.4 Russia’s imports...
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...These laws are meant to “correct” the inherent contradiction of market economies, which in many key markets, one firm or a few major firms often come to dominate the entire market. Once this happens competition is none. If competition makes people act on their best behavior, then the antitrust laws gives incentives to competitors to do the same rather than abuse their dominance in order to take advantage of their customers. The antitrust laws serve to check the improper acquisition and abuse of market dominance, so I feel that to a certain extent these laws are effective. The United States would have more monopolies then it currently has, if these types of laws were not in place. However, I always thought that these laws were in place to also ensure competition in our economy. The anti-monopoly law, which is really a better way to understand what antitrust is, is a set of political laws to help prevent concentrations of political power. These laws were put in place a while back; I would say from the tea party, in the late 1700’s, all the way up until the Civil War, the U.S. Government did a pretty good job of preventing monopolies in the United States. The Sherman act of 1890 was aimed at collusion among companies to constrain freedom of trade, while the Clayton act of 1914 went further and specifying anti-competitive practices such as bundling or mergers that create excessive concentration in an industry (Unknown, 2014). Over the past few decades, in part under the increasing influence...
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...24 Mar 2012 Afghanistan’s Economy This paper is to explain the past, current and future economy of Afghanistan. As of 2011, Afghanistan has a population of roughly 30 million and is expected to increase to around 82 million people by the year 2050. Afghanistan is the 41st largest country in the world, and is similar in size to the state of Texas. Ranked 91st in world economies it has very high unemployment, nearly 35% countrywide. According to data from the Central Intelligence Agency, nearly 42% of Afghanistan’s population lives on less than $1 a day and almost 35% of the population lives below the poverty line. Gross Domestic Product (GDP) per capita is a trifling $900, and is mainly due to the fact that 78% of the workforce is agricultural in nature. Only 5.7% of Afghans work in industries like mining and textiles, and another 15.7% of the Afghani work force are in the service industry. But to truly understand the Afghani people and their nation’s future economic endeavors, we must understand their past economy. In the 1930’s Afghanistan began a momentous undertaking of instituting new monetary methods unto their nation such as introducing paper money, created numerous facilities for general and higher education, and established a national bank. Unfortunately until roughly the 1950’s, Afghanistan lacked much of the necessary national infrastructure such as roads and railways to support an expansion in their industrial sectors. This factor locked them...
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...been put to restore and conserve the river. According to a study, 150,000 jobs depend on the river crossings and its pretty much guaranteed that the river would be useful for a very long time. It also has a lot of potential to raise its economy by either implementing a higher tax on exporters or by expanding its services enabling more jobs for the city. Strength 2: Manufacturing facilities We know the city of Detroit was the 4th largest city in America during the first half of the 20th century since it was where the biggest motor and manufacturing companies used to be. Currently, the motor manufacturing business is dead, but the facilities and company plants are still there. These are huge assets; they could be sold to other manufacturing companies who could take better use of these resources for extra revenue (Carey, 2013). II – Weaknesses Weakness 1: Low Diversification “Detroit has been historically dominated by the automotive industry, and has not been able to redeploy its knowledge and practices in the same way” (Sassen, 2013), said a professor from Columbia University. Detroit’s economy depended a lot on the economic performance of the automotive industry, which was risky because whenever a decline of the auto industry, the city’s economy would also decline. The law of diversification says that assets must be split into different sectors...
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...A critique of “Into the unknown” published by the economist (November 13, 2004.) Fear of losing jobs to offshoring (rise in unemployment), but computers and technology may take these jobs anyway. “Has the machines in its last furious manifestation begun to eliminate workers faster than new task can be found for them?” Article says not to worry. The United States has experienced an increase in the offshore outsourcing (offshoring) of jobs in the service industry. Although offshoring is common in the manufacturing industry, it only recently began in the service industry. The recent increase in the service industry has occurred because of new technology and the ability to access information from anywhere. Those who oppose offshoring believe it takes away American jobs, lower wages, and causes declines in America’s standard of living and any benefits from offshoring are unevenly distributed. Offshoring in the industry has not negatively affected the United States. Currently, offshore outsourcing in the service industry has a net benefit to society and there is no reason for concern. Critics charge that the information revolution (especially the Internet) has accelerated the decimation of U.S. manufacturing and facilitated the outsourcing of service sector jobs once considered safe, from backroom call centers to high level software programming. (This concern feeds into the suspicion that U.S. corporations are exploiting globalization to fatten profits at the expense of workers.)...
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...questions arise with regard to the interpretations. Taxpayers may ask are the practices used to reduce taxes, tax avoidance, or tax evasion. History of Income Tax Income taxes can be traced through history, in colonial times; individual taxpayers had nothing to do with the federal taxing authorities. The government, instead, received income from excise taxes, tariffs, and custom duties. Prior to the Revolutionary War, colonies held more responsibility; therefore, needing greater access to revenues. Post Revolutionary War, in 1781, the Articles of Confederation was adopted. The article gave full rights to each State as an entity allowing the state to levy tax as each state saw fit. The idea of central government was still strongly rejected [ (Unknown, n.d.) ]. In 1789, the Constitution was adopted. At this time in history, the governing powers recognized that a need for resources was necessary from other sources other than government; therefore, Federal Government was granted, the ability to raise taxes. Still, the collection of taxes was left to the State governments. Next, in 1861 when the Civil War began Congress passed the Revenue Act of 1861, which for the first time imposed a tax on individual’s incomes. In 1862, many taxes were raised, changed, and...
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...Running Head: The Rise of a Mass Society Summary The Rise of a Mass Society Summary Team C Due Week 2 Erik Escobar Kimberly Foster Brianna Gomez Cristina Gonzalez Isabel Ortega Ricardo Ruiz The Rise of a Mass Society Summary The word Gilded is best described in the words of writer Mark Twain from his novel written in 1873; The Gilded Age: A Tale of Today. When asked today what we thought Gilded means people think of this novel and describe Gilded as a form a greedy political corruption. The first gilded age was in 1874 to 1900. Twains book and definition of Gilded definitely summarized the corruption in public lives during the late 1800s. The term “Free Market” is a voluntary agreement of the exchange between two or more people in society. The type of exchange do vary and in any combination of two economic goods either tangible commodities or the services from another person. (Rothbard, Murray, N. 2008) Like many new things there are benefits as well as disadvantages to any system. The Free Market has its high points one of which helped society out of the first gilded age in the 1890s. However even though the free market was successful certain social classes still struggled and did not get the opportunity to enjoy what the market had to offer. The department store was introduced to society back in the nineteenth century. The very first real department store was owned by a man named Aristide Boucicault in Paris, France. Before the free market Aristide sold...
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...Ford and the Four Components of Business As the presentation in the first lesson module shows us, the four components of business are business, profit, business environment, and economy. (Unknown, 2011) I am going to try to explain in my own words what these words mean in my understanding of them, as well as describe how one of the Fortune 500 Companies of 2009 fit into these four components of business. Business, business to me is a company that buys, sells, makes, or provides services to products for an exchange of monies. Basically they make things, buys things, sell things, or fix things in the efforts to yield a profit. I decided to use Ford Motor Company (Ford) for my Fortune 500 Company to give a description of its organization. Ford fits into my definition of what a business is very easily. They are a manufacturing company, making several different products from Large Trucks like dump trucks and box trucks or what they label as a commercial vehicle, to small economy cars like the Ford Fiesta. So just by that alone Ford is a business as per the definition I gave earlier. The make a product to sell to the consumers, as well as products to service their products for the consumers and they do all this for the opportunity to make a tremendous revenue or profit, which profit just happens to be the second of the four components of business. (Cable News Network A Time Warner Company, 2009) Profit is simply this, gaining more money in revenue when selling something then...
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...In the second half of the 19th century neoclassical economists emerged as a revolt against the school of classical economic thought. Neoclassical economics sought to explain the maximisation of utility with an underlying theory of rational choice theory. In the post war period a movement occurred that sought to synthesis the macroeconomic, long run theories of John Maynard Keynes with the microeconomic, short-run theories of neoclassical economics. This essay will explore how John Hick’s ISLM synthesis of Keynes is related to the neoclassical growth model. In addition it will explore how both the growth model and theory of capital reproduce problems inherent in the explanation of multi-sector economies. The Keynesian revolution, one of the “most significant events in twentieth century economic science,” disputed society’s adherence to classical laissez-faire economics (Yaroufakis, Halevi, & Theocarakis, 2011). The unsubstantiated ability of the self-clearing markets to maintain equilibrium was challenged during the early twentieth century by John Maynard Keynes in his text The General Theory. Yet as the depression strengthened and the global economic climate changed, a group of economists emerged that ceased to be either anti- or pro-Keynesian. Known as the Neo-Keynesians, they incorporated the macroeconomic framework of Keynes’ theory for understanding short run aggregate issues while the neoclassical model remained relevant for long term microeconomic analysis of growth. With...
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...Ethical Issues in Business and Accounting Barbi Hammond October 31, 2010 Ethical Issues in Business and Accounting The business and accounting worlds are full of ethical dilemmas and scandals. The works of great philosophers of the past can be directly applied to current situations in today’s business and accounting ethical situations. David Hume is one of the philosophers whose works could be applied to the business world today. David Hume was a Scottish philosopher. Hume introduced the moral philosophy known as metaethics. Metaethics refers to the study of moral language and its meaning. (Gaffikin, 2007.) Metaethics focuses on the following questions: * semantic questions such as the meaning of moral terms such as good, right and ought; * logical questions such as the (syllogistic) validity of moral arguments; * ontological questions such as the existence of moral facts; and * epistemological questions such as the possibility of moral knowledge and, if so, the scope of such knowledge Hume felt that although moral beliefs hold meaning they are not logical thought. According to Hume morals are psychological thoughts and can’t be taught. Hume’s theory regarding morals can be tied to the business world in many ways. The most prominent of these would be an organizations decision to hire someone with a history of less than reputable behavior in hope that the person has learned the error of their ways. According to Hume, this person cannot be reformed...
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... There are guidelines that must be met to qualify for this extended open enrollment such as not being aware of the previous deadline, and have paid, or owe, a penalty for 2014. Tax preparers, as well as some public policy experts, have made recommendations to the government to run the enrollment of Obamacare with tax season. Tax preparers are informing customers who paid a penalty for 2014 about the second chance to gain coverage. H&R Block is reporting that the penalty is getting people’s attention. Roughly 8 million people signed up for Obamacare in 2014. The spending on healthcare and physicians that followed 2014’s open enrollement accounted for $43.3 billion in spending. Predictions held true that Obamacare would boost the economy. It would stand to reason that 2015 will see the same economic boost, and possibly even more, with open...
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...the real world. Without a good college education you will not be able to support yourself or a family. According to Roy Romer, “The need for a college education is even more important now than it was before, but I think that the increased costs are a very severe obstacle to access. It is an American dream, and I think that one of our challenges is to find a way to make that available.” (Unknown,2012) For some it could be to gain confidence in themselves or to go further their position at their job. Some people find it hard to determine the value of a college education. The more knowledge one knows the better, so I believe that higher education will always be better, I’m always being told that no matter what degree you get, your job isn’t most likely not going to be like what you’re learning. I have heard of many college graduates that do not necessarily work in the same field as the one that they majored in, but it did help them get their current job. I have also heard from a graduate student that the best time to be in school is during a recession, that way when you graduate the economy is hopefully starting to pick up again and is therefore...
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...English 1020 Zhang zewei B00637895 The Unknown Citizen Analysis “The Unknown Citizen”, was written by W. H Auden during the 1920s and 30s, he reflected the major social issue of regulation was people facing in that era by using unknown citizen as a narrator with his own unique way. This poem criticizes regulation and normality, replacing individualism and liberalism. Frist of all, the title of this poem “The Unknown Citizen” indicates that a normal person will lose their individuality. With strong vocabulary and language the poem builds an overall atmosphere, which punctuates author’s points. Ironically, at the end of the poem there are two important questions “Was he free? Was he happy?” these questions add depth and meaning to this poem. In this poem the voice of a fictional government bureaucrat who sat in the office and shuffled documents every day, whose decisions would impact peoples’ lives; we do not know who he is. The clue of the information about this person derived from “Bureau of Statistics”, it tries to show the readers that everyone is typical and normal; therefore people will no longer be individual people. He is an unknown citizen because he just a typical person. More and more advanced technology showed up in this modern world as if humanity is beginning to fade away. It seems like human are increasingly becoming unknown citizens. The man in this poem is someone who lost his individually, and lost the concept of happiness, freedom...
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