Macro & Microeconomics Essays

This formula will answer this question: x(t)=x(t0)(1+g)(t-t0) Where x (t) rep. real GDP in t years, x(t0) is real GNP in t0 years, and g is the constant growth rate of real GNP between t0 years to t years. Therefore: Hare’s real GDP in 2000 is $5000 ´ (1.03)50 = $21,919.50. Tortoise’s real GDP in 2000 is $5000 ´ (1.01)50 = $8,223.15.

The United Kingdom is the country that is widely used by other countries as a reference point in External Price Referencing. Most countries that use the External Price Referencing base it on statutory regulations or legislated rules. Some countries involve pharmaceutical companies in determining the price of different categories of drugs.

Minimum wage effects on employment have been termed a controversial issue for a very long while. The minimum wage has been characterized to have both supporters and those against it. The benefits that the supporters claim are the minimum wage comes along with improving the standards of living, reduction of poverty levels, reducing inequality, and facilitating of proper development of businesses.

In the year 2008, the US economy faced a stiff slant as its domestic businesses slumped in performance due to the inflation of the dollar unit. Uncle Dan’s resolution to engage in real-estate business is for the good of the US society since the developed structures will provide direct and indirect job opportunities to many citizens in the nation

One such Act introduced by the government of the country was the Dodd-Frank Wall Street Reform and Consumers Protection Act (“The World Fact Book”). With the essence of such measures, the macroeconomic determinants of the country have improved. Some of such indicators are its unemployment rate, exchange rates, and domestic product.

High income increases savings and investments proportion of the individual income. This is because most of the basic needs consumption does not increase with an increase in the amount of disposable income. Cutting direct tax has a more positive effect on organizations, individuals, and the economy than the negative effects.

Civil law is open to flexibility. This is because changing scenarios necessitate the dynamism in laws to address contemporary issues. This is unlike common law whose facts do not change as decisions are made from a distinct basis. Besides, in a common law proceeding, a trial is usually a unique hearing lasting for a comparatively short period.

Spiky world implies that people live in a world where discrimination or bias is the order of the day. What are the main differences between the International Monetary Fund and the World Bank? The IMF is a firm or organization of more than 180 countries working together to attain a world monetary cooperation.

The economic trends of a country determine the level of unemployment in that particular country. In a country where the economy is continuously growing, the level of unemployment is dropping continuously and vice versa. Unemployment has severe effects on a country and therefore all governments need to do what they can to minimize unemployment.

Environmental concern over the use of oil has led to the shift of attention to electric cars which are believed to be the solution to global warming resulting from the use of oil powered cars. A substitute for oil powered vehicles is believed to

The report also highlights the economic outlook and forecasts of Israel through the analysis of relevant economic parameters provided by OECD. It was found that though Israel’s economic growth slowed down in 2014, but it again picked up at the end of the year and has been experiencing positive growth since then due to substantial investments.

China’s Communist Party is the political factor in the whole equation. During China’s political development, there is a weakening of the central leadership, which forced the leadership to increasingly rely on the coercive powers of such agencies as the armed forces and the Bureau of Public Security, in addition to strengthening the bureaucratic apparatus under the party’s guidance.

The graphs in appendix 1 show the actual plots and correlograms of Consumption, Investment, Government non-wage income, Output, and Wage Income in the period of analysis. The graphs show that the actual plots of all the variables except the government non-wage income show fluctuating trends with alternative peaks and troughs in the period of analysis.

Generally, globalisation has had a variety of positive consequences for the global economy as well as some negative ramifications.  Facilitated by the internationalisation economic interdependence since the collapse of the Soviet Union, globalisation has also paved the way for other insidious trades.

The company’s reaction, however, was mixed as initial reports were inaccurate, and misleadingly so, about the causes of the disaster, and therefore the responsibility for it, directly contradicting initial promises of a full investigation. The disaster occurred when “an ‘isom’ at Texas City was overfilled during start-up.”

The paper discusses thе protеction of intеrnational invеstmеnts in gеnеral in addition to morе dеtailеd еxplanation about placing thе forеign invеstmеnts in UzbеkistanIn ordеr to support thе idеa of forеign invеstmеnts to thе country, thе papеr providеs information about thе еvolution of law on intеrnational invеstmеnts in Uzbеkistan.

The author states that the monopolist should continue producing marginal units within a current output level. On the given data, it is still profitable to produce marginal units since the marginal revenue is higher than the marginal cost which is $2. Production capacity should be optimized in a number of units produced to increase total contribution margin.

Keynes was born and bred in the elite society, and as a result, he received the best education that could be. The main contribution to economics that was developed by Keynes came with the publishing of his book, “The General Theory of Employment,

In a planned economic system, the government of a nation is in control of all the resources, and decisions regarding the allocation of resources are made by them. In a planned economic system, the decisions are made at the top level of the hierarchy and these decisions are followed by those who are in the lower level of the hierarchy (Lane 139).

The article is based on the expected long-term returns compared to the investments made by cities hosting major sports events. The most common events are the Olympics and FIFA World Cup. Most of the applicant cities as per the authors do not meet the requirements to host such mega events, this is mainly the small cities that have little supporting infrastructure and the sports facilities needed.

To be sure, the crisis was but self-inflicted, with deep roots in the systemic policy failures in the way the union’s monetary mechanism

From the above discussion, it is quite clear that for any country to attain economic stability in the money supply as well as in the development of physical facilities; monetary and fiscal policies cannot be overlooked. In my opinion, governments must streamline the management of revenue collection authorities as a way of ensuring transparency and accountability in how the tax is collected and used.

The first step of decision-making is the key factor of this model. This step mainly evaluates the kind of problems, managers are going to face in the future. The definition of the problems will support managers to make appropriate decisions. The second step is to determine the objectives. The objective mainly explains the goal of a firm.

The unity of the Gulf countries has so far aided the countries in their trade through the opening up of borders and setting similar tariffs for external trade with non-member countries. This advantage is anticipated to increase with the introduction of a common central bank for the region as well as a common currency.

Additionally, those who fell between the ages of 15-64 years were economically productive in comparison with other age brackets. The research carried out in Buzǎu Subcarpathains that productivity levels had decreased by 8.6% from 1992 to

The theory of profit accounting for the profits being earned by the pharmacy in the first 3 years of operation is dynamic theory of profit. It operates with the assumption of a dynamic society that lacks changes in its business environment. As

The slave plantation crops have assisted economic development in many ways. The development in the economy also booted up the system of industrialization. The system of slavery was helpful since it owed a cheap labor force. The ideologies and the culture acted as a platform for considering the slave system as a justifiable social system. 

It's pointed out that one would like to identify the response of the company’s salespeople through the identification of variables. Moreover, this can be revised using a checklist where variables would be enumerated and checked according to the response of the salespeople to the unique experience of the respondents.

Privatization is a process in which government functions and responsibilities are transferred to private entities. The transfer can be either a complete one or it can be a part of a government function. Privatization is not new to United

The reason for my transfer from the University of Washington (UW) is mainly for academic purposes. While UW provides a stimulating environment for undergraduate education and I have been enjoying both studying and campus life in beautiful Seattle, I found my academic interest has changed lately. I recently traveled to several remote areas in western China and returned to the village where my family helped build a bridge a few years ago.

In the long run the price will first rise from P1 to P2 and then adjust itself due to entry of more firms to P3 which is lower despite the increment in the quantity of oil demanded; hence Nadler-Kafferlin will be right (Taylor et al, p 261). The park

The conclusion from this study states that it would be substantial if the country creates new ways of paying its debts and increasing its national income. According to the research findings, it can, therefore, be said that this would lead to economic growth that creates job opportunities and better spending.

On the other hand, a product is said to be inelastic if a huge change in price has little impact on the quantity in demand (Moschandreas, 2000). Several factors affect price elasticity. The factors with the largest effect on the elasticity

This essay focuses on the comparison between Islamic banking system and the conventional banking system, that both have completely different processes of functioning based on distinct principles, such as the principles of Shariah Law (Islamic law) and the west laws, that has a more non-conservative approaches.

In this case, the quality of the product is mainly affected by the laxity of the internal factors but may also be attributed to external factors (suppliers supply poor quality of raw material). However, the whole issue lies with internal quality management that could have detected the quality of the raw material and rejected the same due to poor quality (Fernando 72).

Immigration is basically the movement of people from one region to another region to live there in a permanent way. If people move to a new country just for a short visit then they are called tourists but if people go to a new region with the intention of living in that place then people are called immigrants.

Or it can also be “done by extrapolating comparisons of income tax reports with tax audits” (13). This may not be reliable because participants in underground economy are less likely to tell accurate

The main impact of the cartel is that it immediately reduces the market supply of the commodity. The diagram below shows the way in which producers manipulate the market price. Without the formation of a cartel, the equilibrium level of production was Q0 and the price was P0. After the formation of a cartel, the producers charge a higher price while the quantity of output falls.

Saudi Arabia serves as among the largest producer and exporters of petroleum and related products globally and plays a major role in OPEC for it accounts for approximately 28% of oil production. In 2009, production of oil stood at about 8 million barrels every day, less than the number of barrels recorded in 2008 by a 1.1million.

The optimal solution is to involve the farmer as the owner of the land in implementing the smokestack. Bargaining is possible since the smokestack will also help the farmer in protecting his crops. Cost and benefit to the farmer = $1700 - $1200 = $500. Cost/benefit to company = $3000 - $1700 = $1300. 

However, some experts disagree with this notion as believe that such deviant behavior is not always fueled by downturns or a robust economy. With regard to crime its relation with economic development is considered to be complex as crime

The health of any economy in the world can be assessed by measurable indicators. These indicators are referred to as economic variables. Economic variables are very important in the day-to-day running of the economy of a country. They are used by economists, policymakers, employers, and industry captains to determine the position and direction of the economy.

0.01228 this signifies that unemployment rate as a factor that explains labor force variation is not good enough; since it explains only 1.228% of the response variable variation the rest is explained by the random error term. Pearsons product-moment correlation gives a value

The article argues that despite these prevailing economic advantages there have been failed paychecks of workers. Through critical analysis the concerns raised by the article are relevant since

The main cause of economic problems in the country is the amplitude of the business cycle. The Keynesian economic theory involves the stimulation of the economy to encourage people to spend. This is achievable either through government investment in infrastructure or a decrease in interest rates. An increase in income results in more spending.

Therefore, it is an important facet in a student’s life to find meaning in what one has studied such as political-business cycle theory. Besides, learning becomes only relevant when we find meaning in things and connect them to our daily lives. Outcomes of elections greatly affect us and whatever fiscal policy that the incumbent president has chosen would also deeply affect our economy.

Globalization is no doubt one of the most significant and powerful influential forces in today’s business environment. Global marketing has been attracting growing importance in recent years and this has in fact profoundly affected the people, companies, management and economies throughout the world.

There would be need for constant evaluation of the performance of education sector as whole in order to measure the returns to this investment of $20 million.

Tax is an essential transaction that every government needs to run its daily functions. Different countries have systems of getting the tax which differs significantly. No citizen pays taxes willingly though they are aware of its functions and the consequences of not paying it (Blum and Kalvern 2011). The disagreement emerges on how equitable the taxes are distributed.

Family matters are a factor to consider, acknowledging that it influences labor productivity to a noticeable extent. Workers who experience a supportive family life are capable of producing more at work due to the presence of motivation. Individuals who experience a stressful family life will not be able to fully exploit their potential at work.