were elected by popular votes among white citizens only, under apartheid (SAHO, 2015). When apartheid was abolished in 1994, Nelson Mandela has elected as the president under the first democratic election (South African Government). South Africa, today, is classified as a democratic country and rises as one of the world’s fastest growing economies as it has joined in BRICS, an association for five major emerging national economies, since 2010 (South African Government). MEANING OF STRENGTH OF STATE
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country in the world is to have a sustained economic growth and development, a society where opportunities for good health, nutrition and increase in wealth, national security and religious tolerant, adequate and improved infrastructure among others abound. However, it is disheartening to note that what are experienced today are increase in crime rates, political and religious uprising, corruption and other social vices. The situation is further worsened by the level youth unemployment in the country
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What is the U6 rate for the US economy in January 2015? Over the last few years unemployment rate have hit its highest mark at 16% - 17%. As 2015 arise the unemployment rate is dropping to about 11%, which is the lowest rate in 6 years. There are many reasons why the economy is improving in the last couple years. One of those reasons is that we are trying to keep jobs internally instead of outsourcing them to other countries. Another is that the tax brackets have been changing over the last
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manufacturing, and is the largest manufacturing economy in the world as well as the largest exporter of goods in the world. China is also the world's fastest growing consumer market and second largest importer of goods. China is a net importer of services products hence obtained an average annual Growth Domestic Product (GDP) growth of 9.10%. China has been an economic power house since the 70s, and ranked the 2nd largest economy in the world ever since. Presently, the Central Bank of China has adopted
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Are we prepared for a world of poverty? Can we handle 50 to 70 percent of workers being unemployed? Can you imagine jobs disappearing due to robots? Scientist believes that before the end of this century. Robots will control the world and all jobs. Macroeconomics best fits this situation because unemployment will affect the nation. A robot is just a smarter computer. The robot will be able to jobs such as, data entry number crunching, operation, and much more. If a robot that doesn’t need to
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A Critical Analysis: Slump! A Study of Stricken Europe Today by H. Hessell Tiltman HIST * 1500 Bailey Young 0718718 Germany, a country that once thrived, was bombarded with a decline so extreme it may have actually led to the most devastating genocide in the history of mankind. The desperation of the German people left no room for the critical analyses of a radical political movement, for the extreme hunger and horrifying living conditions left everyone striving
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Statistics Canada came out with the unemployment rates, and it showed that the unemployment rate among people fifteen to twenty-four (15-24) years, the rate was the highest at 14.2%. We looked through all of the scenarios for why this would be, and what could have caused this number to be exponentially greater than other age groups, and came to the conclusion that age-ism is the more likely factor for why this was so. The reason being for our conclusion was that employers today, have an understated view of
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on the theory of the Business cycle we know that, the economy can raise or fall, over time. In the United States of America as everywhere else in the world when the economy rises it is an economic boom just what it sounds like when business is booming. When it falls the sound is bad, fear, just like a bomb with the decline of the GDP, high unemployment rate, increased business failure( prices fall, people purchase fewer products, and business fail ), and overall drop in living standards. This situation
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will discuss the following: * Current economic state in regards to unemployment, expectations, consumer income and interest rates * The existing effect of the economic factors on aggregate demand and supply * Fiscal policies that are currently being recommended by government leadership * The effectiveness of those fiscal policy recommendations from the Keynesian and Classical model perspectives. Unemployment rates fluctuate when the supply and demand for human resources are out
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throughout the world. The time period of The Great Depression varied depending on the country, but first began in the late 1920’s. It ended in the late 1930’s or early 1940’s when the Second World War began. It devastated virtually everyone, rich and poor, people of all occupations. The term was first coined by British economist Lionel Robbins who wrote a book in 1934 called “The Great Depression” but popularized by President Herbert Hoover in a statement: “I need not recount to you that the world is passing
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