1. INTRODUCTION Despite its overwhelming small physical size and lack of natural resources‚ the Singapore economy has experienced rapid economic development since its independence in 1965. Within those few decades‚ Singapore has metamorphosed from a third world country to one of the countries with the highest GDP globally (292% of global average in 20131). GDP grew with an average of 7.7% since independence; and topped 9.2% in the first 25years. Per capita GDP over the same periods grew by 5.4%
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SEVEN MAJOR SOURCES OF ECONOMIC GROWTH KFCTGLM 1) Legal System 2) Competitive markets 3) Limits on Government regulation 4) An efficient capital (K) market 5) Monetary stability 6) Low Tax rates 7) Free Trade 1) Legal System: Foundation for economic progress is a legal system that protects privately owned property and enforces contracts in an evenhanded manner. Provides protection of property rights and enforcement of contracts. This reduces the uncertainties accompanying trade
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Exchange rates are the value of one currency with respect to another‚ for the purpose of conversion. They affect investment levels‚ via the cash rate and values of domestic assets; trades‚ via prices and the terms of trade (TOT); liabilities‚ via currency appreciation or depreciation and the valuation effect‚ and trades. Exchange rates are influenced by government policies in the short term and market forces in the long term. Since the Australian dollar (AUD) was floated in 1983 it has experienced
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Income Inequality‚ Economic growth and its effects . Abstract “Some people are of the view that income inequality is a necessary part off the growth process‚ that it is generally unavoidable and that policy should focus on ensuring that everyone is doing better rather than focusing on narrowing the income gap” whilst other agrue that it hinders growth. This assignment was carried out to investigate and debate the theoretical and empirical views of the above statement as well as share my own
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In the experiment‚ as the size of the cube decreased‚ the absorption rate increased‚ showing that the smaller cells absorbed more sodium hydroxide than bigger cells. The smaller cells were able to absorb more sodium hydroxide as they have a bigger surface area to volume ratio causing them to act more efficiently than the bigger cells. The smallest cell had a ratio of 1:12 while the biggest cell had a ratio of 1:2‚ leaving a gap of 5:12 causing the bigger cell to act less efficient in absorbing the
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One can predict that the tube with the highest concentration of yeast will produce the most carbon dioxide and will have the fastest rate of alcoholic fermentation. Results Two separate experiments were conducted to determine the effect of yeast concentration and pH level on the rate of fermentation. The first experiment involved the placement of different concentrations of yeast‚ glucose
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the need for LEADERS. Our keynote speaker‚ Fumbi Chima‚ Vice President of International Integrations for Walmart‚ emphasized this‚ in addition to the alumni panel that spoke earlier in the conference. Leaders need to innovate. We must ask what and why. Our focus must be on people. And on doing the right things. We must develop. Inspire trust. And always challenge the status quo. Don’t tell what could be done‚ rather act. What types of jobs will there be for MIS / ITM majors? MIS majors are routinely
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The effects of environmental temperature on respiration rates of mice were observed in this experiment. I hypothesized that when environmental temperature decreased‚ the respiration rate of mice would increase. I predicted that if environmental temperature decreased‚ the respiration rate of mice would increase. The respiration rate of the endotherm was measured using the Qubit/Vernier system and the S152 CO2 gas sensor‚ a device that measured the CO2 concentration in the air. The independent variable
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Is faster economic growth always a good thing? Argue the case for and against faster growth and then come to your conclusion. Economics growth has been studied in differences camps. economics‚ environmentalist and sociologist have been debating years about the causes and effects of this one‚ it is a fact that economic growth is link with life quality and the first one can affect the second one in positive and negative ways‚ this essay will expose a number of advantages and disadvantages of
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How does the government help the growth of the economy? It is a fact that no society throughout history has ever obtained a high level of economic affluence without a government. Economic growth is a term that is generally measured through GDP the gross domestic product in a country or region over a certain period of time and its consisted of economists‚ governments and individuals Economic growth usually results from producing more goods and services that requires productivity growth. Productivity
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