...1. What are three economic stances that a government may have? Describe each of these stances. They may have a neutral stance or an expansionary stance or contractionary stance. A neutral stance is balance in the economy, this stance usually causes tax revenue though. An expansionary stance is basically the money its getting more than what they are receiving. So they spend it faster than they can collect it. The last stance contractionary is where the government holds the money more than spending so complete opposite from expansionary. 2. What are the four different types of economic resources? Describe each type. Land is an economic resource. Capital is as well an economic resource. Labor is another economic resource. Finally entrepreneurial ability is the last of four economic resources. Land is more natural resources that we are using like oil coal and wood kind of what the planet...
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...Joseph Garrity Intro to Business Professor Patricia Devlin 13 September 2013 Chapter 1 7. Explain how current economic indicators, such as inflation and unemployment, affect you personally. Explain how they may affect you as a manager. The current economic indicators may affect me personally because if the unemployment rate is too high I will struggle to find a job, and if inflation is too high then it would be very hard for me to pay for my needs, such as food and rent. The current economic indicators may affect me as a manager because inflation would cost me a lot of money and as a result I would have to stop hiring workers. The unemployment rate would rise because of inflation, and as a result it would be hard to find workers. 9. Visit a local shopping mall or shopping area. List each store that you see and determine what degree of competition it faces in its immediate environment. For example, if there is only one store in the mall that sells shoes, that store represents a monopoly. Note those businesses with direct competitors (two jewelry stores) and show how they compete with one another. In the Willowbrook Mall, Abercrombie & Fitch is a store that sells primarily clothes or accessories to the consumers. However, the competitors are Hollister Co., J. Crew, and Banana Republic because they also sell similar items, but have their own brand of clothing as well. They have different prices or the same prices depending on the clothes they are selling. Follow-up...
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...Plans Macroeconomic Policy Introduction Macroeconomic policies refer to policies directed at stabilising the aggregate level of economic activity or output. The fundamental rationale for government macroeconomic intervention is to stabilise fluctuations in the business cycle. Through the conduct of such ‘counter cyclical’ or ‘stabilisation’ policies the government seeks to achieve three major objectives. • Economic growth that is sustainable in delivering rising real incomes whilst minimising inflationary pressures and the current account deficit as a percentage of GDP; • Internal Balance, which is characterised by full employment and price stability; • External Balance, which involves financing import expenditure with export income, stability of the exchange rate, and minimising the levels of net foreign liabilities and net foreign debt as a percentage of GDP. Other objectives include ensuing that the benefits of economic growth are enjoyed by all groups of the population through an equitable distribution of income, as well as ensuring that economic growth and development is ecologically sustainable such that it meets the needs of present generations without compromising the ability of future generations to meet their own needs. Macroeconomic policies operate on the demand side of the economy since changes in the settings or stances of fiscal and monetary policies will impact on the growth of aggregate demand. • If AD exceeds AS at the full employment level...
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...Economic Policy Using a scale between zero and five, I evaluate President Obama’s performance with concern to the nation’s economy. While assessing Obama’s performance in the arena of economic policy, I account for the president’s policy aimed at the citizen, the nation as a whole, and the promotion of international commerce. Each topic is assigned a point value between zero and one, based on two factors—first, for the egalitarian nature of the president’s initial stance on the topic and, second, for the efficacy of his enacted or proposed policies regarding that topic. Obama’s chief success in the economic domain is that of job creation, which has been on a steady incline since the recession. Though the president cannot be held entirely...
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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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...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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...1. Definition: Fiscal policy in economics is to use the government revenue collection and the expenditure to have an impact on economy. The policy is based on John Maynard Keynes, the British economist, who stated the increase or decrease in the aggregate demand and expenditures will influence the economic system factors. (Sullivan,A.&Steven M,S 2005,p387) The changes in tax and government expenditure are regarded as the major fiscal policy instruments. Government revenue collection (taxes) plays the role in how much government and individuals have to spend. For instance, the government could stimulate the consumers’ spending by cutting taxes. The effect of fiscal policy: The variables will influence the economy in the aggregate demand so that the policy will achieve the objectives including the price stability, the economic growth and the employment. Keynesian economics indicates that the changes efficiently stimulate the aggregate demand at the economy boom’s beginning. (Blinder 2012) It is argued that Keynesian economics model can be used to establish the framework for strong economic growth. However, economists also debate the fiscal policy effectiveness. The arguments concentrate on crowding out effect whether the interest rate increase, which may offset the spending stimulation, is led by the government borrowing. (Fiscal policy of Cliff Notes 2013) Once the government faces the deficit, the public fund will be important, the interest rate will improve. 2....
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...because of yield seeking entities who took speculative positions via derivatives on mortgages, but 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...
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...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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...What causes socio-economic inequality? By Briana Whetston Sociology 101 – 008 Department of Accounting University of Wisconsin Eau Claire, WI 54701 What Causes Socio-economic Inequality? ABSTRACT This paper will look into the reasons of socio-economic inequality of individuals throughout society. The expansive framework of this theme is our class discussion on Stratification. Countless people think of socio-economic inequality specifically as social class. Although this is a part of it, there are many other factors such as gender and racism that contribute to this matter. Furthermore, the overall thesis for this paper is that the causes of socio-economic inequality are caused by more than solely economic factors. The arguments that will support this thesis will be: 1) Gender inequality in the workplace; 2) Discrimination towards age and race 3) Unequal access to education and power; and 4) How the social behaviors of members of society, through forms of discrimination, affect the attitudes of others. This topic has a social relevance, being that countless people around the world are affected by socio-economic inequality. I INTRODUCTION A study done on national income distribution shows that families in the top twenty percent are making 47.2 percent of the nation’s income, while the bottom twenty percent are making only 4.3 percent of it. Correspondingly, ten percent of households in the United States own 68 percent of the nation’s wealth. This proves that...
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...question of how to balance the power, even the playing field by striving to become a great power (Forsyth, 2008). This essay will address the realism theory focusing on the three of the instruments of power (IOP) as it applies to the Chinese foreign policy towards the US. To begin with, this essay will touch on Chinas fluctuating military stance. China continues to display the traditional realist view of balancing power plus states gain their power through war and military intimidation (Forsyth, 2010). Chinas strategic culture and historical record shows they are willing to use force to maintain security and power against the US. They are positioning their assets and “threatening potential US conflict over Taiwan” (Gompert & Phillip, 2011, 42). They’ve increased their military budget, showed capabilities by shooting down a satellite, and “acquired military capabilities-including anti-ship cruise missiles, ballistic missiles, and electronic countermeasure technologies—that could hinder US forces if they tried to operate in China’s neighborhood” (Walt, 2005). In conclusion, this on again, off again military stance is showing that China is fearful of its ultimate security. Second, I will address economics and international trade agreement that China has with the US. China has proven it is an economic force to be reckoned with, second only to the US. China welcomes continued trade agreements with the US, who is one of their largest...
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...REPORT ON Monetary Policy of Bangladesh PATUAKHALI SCIENCE AND TECHNOLOGY UNIVERSITY Monetary Policy of Bangladesh SUBMITTED TO M. Kazi Tamim Rahman Lecturer Department of Agricultural Economics and Rural Sociology Faculty of Business Administration and Management SUBMITTED BY Group: 01(Warrior) Level-3, Semester-1 Faculty of Business Administration and Management Name of the students | Reg. No. | Roll No. | Md. Kamruzzaman (L) | 00660 | 01 | Shuvradeb Barai | 00668 | 09 | Abu Zafour | 00680 | 21 | Sahana Parveen | 00666 | 07 | Nazmul Alam Siddiqui | 00565 | 25 | Money and Banking Course code: FBK 312 SUBMISSION DATE: PATUAKHALI SCIENCE AND TECHNOLOGY UNIVERSITY Acknowledgement At first we desire to express our deepest sense of gratitude of almighty Allah. With profound regard we gratefully acknowledge our respected course teacher M. Kazi Tamim Rahman, Lecturer, Department of Agricultural Economics and Rural Sociology, Faculty of Business Administration and Management, for his generous help and day to day suggestion during the preparation of this report. We like to give thanks especially to our friends and many individuals, for their enthusiastic encouragements and helps during the preparation of this report us by sharing ideas regarding this subject and for their assistance in typing and proof reading this manuscript. Table of Contents Chapter – 1 ...
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...| Complete statement: RBI's Q3 2009-10 Monetary Policy review | Here is the Policy Review statement, which should be read and understood together with the detailed review in Macroeconomic and Monetary Developments released on Thursday by the Reserve Bank. The statement is organised in four sections. Section I provides an overview of global and domestic macroeconomic developments; Section II sets out the outlook and projections for growth, inflation, money and credit aggregates. Section III explains the stance of monetary policy and Section IV specifies the monetary measures.I. The State of the EconomyGlobal Economy1. The global economy is showing increasing signs of stabilisation. The growth outlook in virtually all economies is being revised upwards steadily, with the Asian region experiencing a relatively stronger rebound. Global trade is gradually picking up, but other indicators of economic activity, particularly capital flows and asset and commodity prices are more buoyant. However, even as most of the forecasts on recovery are generally optimistic, significant risks remain. The recovery in many economies is driven largely by government spending, with the private sector yet to begin playing a significant part. There are signs that high levels of global liquidity are contributing to rising asset prices as well as rising commodity prices. Emerging market economies (EMEs) are generally recovering faster than advanced economies. But they are also likely to face increased...
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...of management should be to secure the maximum prosperity for the employer, coupled with the maximum prosperity for each employee. He argued that the most important object of both the employee and the management should be the training and development of each individual in the establishment, so that he can do the highest class of work for which his natural abilities fit him. Taylor demonstrated that maximum prosperity can exist only as the result of maximum productivity, both for the shop and individual, and rebuked the idea that the fundamental interests of employees and employers are necessarily antagonistic. Taylor described how workers deliberately work slowly, or “soldier”, to protect their interests. According to Taylor, there were three reasons for the inefficiency: First. The fallacy, which has from time immemorial been almost universal among workmen, which a material increase in the output of each man or each machine in the trade would result...
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... but rather what is best for the nation itself. Climate change reaches outside our borders. Unlike an invading force, a nation cannot form an army to combat the CO2 emissions of another country. Ill-fated actions by a single nation affects the world together. How can nations ensure global cooperation using traditional political means? Climate change, and by extension oil use, affects nations differently. In order to understand the reasons of resistance or acceptance from various nations of combating climate change, the effects of the change in procedure must be examined. Each nation is invested at different levels in the fight in climate change. Money or power, survival, and public outcry are major factors that may influence a nations stance and fervor on fighting climate change and the changes required by such a fight. It is obvious that a change in energy production habits results in a change in how a nation will provide energy to its people over time. As climate conscience nations move towards renewable energy sources, there is less reliability on oil imports to produce energy. Unfortunately, this reduced reliability does not translate into less oil consumption. As nations find new ways to produce additional energy, they also find new ways to use this additional energy (J. Varner, personal communication, March 5, 2014). Energy can...
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