is an increase in the production and consumption of goods and services, and is indicated by increasing Gross Domestic Product (GDP). GDP, therefore, has become the standard measure of economic progress, even though it was only intended as a macroeconomic accounting tool. Prompted by Wall Street, the Federal Reserve System, and the media, citizens generally applaud increases in GDP. The problem with GDP is that it doesn't separate costs from benefits. It simply adds them together under the
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wealth, income, and education. For instance, people who are socially poor in the U.S are likely to be in a cycle through life because they have not so much possibilities, education or tools to attain higher success. Poverty class has a larger income gap compared to the upper class, and the American Dream is diminished in terms of opportunity and is demonstrated by way of statistics. First of all, poverty does exist and is high in some part of the world because of the number of income and wealth
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Energy Economics 31 (2009) 882–887 Contents lists available at ScienceDirect Energy Economics j o u r n a l h o m e p a g e : w w w. e l s ev i e r. c o m / l o c a t e / e n e c o Economic impacts of higher oil and gas prices The role of international trade for Germany Christian Lutz a,⁎, Bernd Meyer a,b a b Institute for Economic Structures Research (GWS), Osnabrueck, Germany University of Osnabrueck, Germany a r t i c l e i n f o a b s t r a c t The analysis concentrates
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began with the financial crisis of 2007–2008, considered by many economists to be the worst financial crisis since the Great Depression of the 1930s. It resulted in the threat of total collapse of large financial institutions, the bailout of banks by national governments, and downturns in stock markets around the world. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses
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on national saving in five Association of Southeast Asian Nations (ASEAN) of Indonesia, Malaysia, the Philippines, Singapore and Thailand. We analyze impact real interest rate to nation saving for ASEAN starting 1991-2013. Through an analysis from Excel, real interest rate is found to have significant impact on national saving during different stage of economic. Extensions using a graph reveal the impact of real interest rate in ASEAN-5 and thus mainly reflect heightened concerns to national savings
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Development has come a long way over the last sixty years as both a scholarly discipline and as an enterprise. It became very significant after the Second World War and was considered the same as industrialization. Its objective was very clear: to raise incomes and offer goods and services to poor people, who couldn’t have access to them before (Rapely, 2007, p. 1). Evolution can be defined as the self-transformation of a system under study (Witt, 2002, p. 9). Six decades ago, depression and political developments
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ricing Analysis of the Impact of High Oil Prices on the Global Economy International Energy Agency May 2004 IEA/(2004) SUMMARY Oil prices still matter to the health of the world economy. Higher oil prices since 1999 – partly the result of OPEC supply-management policies – contributed to the global economic downturn in 2000-2001 and are dampening the current cyclical upturn: world GDP growth may have been at least half a percentage point higher in the last two or three years had prices
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demographic composition. Topics that are discussed include Indonesia's population growth, age structure and urbanization. Each of these topics is linked to Indonesia's (potential) economic performance. Indonesia's Population Growth The annual national population growth rate of Indonesia between 2000 and 2010 was an average of 1.49 percent. This growth was highest in the province of Papua (5.46 percent), while the
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World Bank (IBRD) and The International Monetary Fund (IMF) | | | | | Appendix CDF Comprehensive Development Framework IBRD International Bank for Reconstruction and Development IMF International Monetary Fund LIC low-income countries SDR special drawing right Executive Summary The second half of the twentieth century was one of unprecedented economic achievement. Rapid growth in the world economy, fueled by expanding international trade and advancing technology
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| About IMF The International Monetary Fund (IMF) works to bring up International Monetary Cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth and to reduce the poverty around the world. IMF was created in 1945 and it’s an organization of 187 countries. Why IMF was created and how it works? The IMF, also known as the “Fund,” was conceived at a United Nations conference convened in Bretton Woods, New Hampshire, United
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