Chap1: The National Economy I. THE SCOPE OF MACROECONOMICS the major macroeconomics issues Economic growth; governments try to achieve high rates of economic growth economies suffer from inherent instability. As a result‚ economic growth and other macroeconomic indicators tend to fluctuate. Rate of eco growth: the percentage increase on national output‚ normally expressed over a 12 month period. Unemployment waste of human resources‚ unemployment benefits are a drain on gov revenues
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Emerging Economies and Globalization Argosy University October 29‚ 2013 Emerging Economies and Globalization Multinational corporations (MNC’s) are consistently looking for new unsaturated markets to tap into in optimisms of expanding their business and capitalizing on future industry trends. General Electric Healthcare (GEH) is one of these MNC’s trying to capitalize on the incessantly rising healthcare industry. In 1878‚ Thomas Edison founded General Electric (GE)
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alcohol level as German liquors: could be misunderstood and misused by consumers). * The ECF said it was a restricting measure in the frame of the Common Market and draw the following rule from this case for the free movement of goods * Any product legally manufactured and sold in one member state must be allowed to be placed on the market in all others__ rule of harmonization and mutual(взаимный) recognition. 2. The PAC (Common Agricultural Policy) is the only totally integrated policy in
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Underground economy The underground economy or black market is a market where all commerce is conducted without regard to taxation‚ law or regulations of trade. The term is also often known as the underdog‚ shadow economy‚ black economy‚ parallel economy or phantom trades. In modern societies the underground economy covers a vast array of activities. It is generally smallest in countries where economic freedom is greatest‚ and becomes progressively larger in those areas where corruption‚ regulation
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A Complete Economic Analysis of the Philippines Kathy Wallace February 19‚ 2012 Regis University MSM661 Jim Zelenski Abstract The Philippines is one of eight countries that comprise Southeast Asia. A mass of thousands of islands‚ the country has been struggling to obtain true democracy and freedom for its citizens. After a review of the political history and demographics of the country‚ an in-depth analysis of the economic condition of the Philippines will be explored. Appendix A contains
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seminal pieces of research. Current issues in the world system generally have been analysed by economic or political aspects. However “the polity is much more influenced by economic developments than many political scientists have admitted‚ and the economy is much more dependent upon social and political developments than economists in general have appreciated” (Gilpin‚ 2010 : 25). Therefore‚ Political economy combines political and economic theory to evaluate states and societies. In addition regional
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Israel is a developed country‚ an OECD member‚ and a representative democracy with a parliamentary system‚ proportional representation and universal suffrage. The Prime Minister serves as head of government and the Knesset serves as Israel’s unicameral legislative body. Israel has one of the highest life expectancies in the world. The economy‚ based on the nominal gross domestic product‚ was the 41st-largest in the world in 2010‚ with a very high standard of living‚ which is the highest in the Middle
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Economies of Scale * This is the cost advantage that a business obtains due to expansion. * That is the factor that cause the average cost of producing a product to fall‚ as output of the product rises as explained in the ‘Dictionary of Economics’. * By achieving economies of scale‚ a company would have the cost advantage over its existing and new rivals. * Further‚ the company could achieve lower long run average cost (i.e. productive efficiency). But if technology changes‚ this
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Why women will impact global economy as much as China By Beth Brooke‚ Special to CNN October 25‚ 2012 Just recently‚ Booz & Company published new data outlining compelling evidence that women can be powerful drivers of economic growth. Their estimates show that if female employment rates were to match male rates‚ overall GDP would grow significantly in the U.S. by 5%‚ in Japan by 9%‚ and in developing countries like Egypt by a massive 34%. The World Economic Forum also published their annual
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political economy‚ branch of social science that studies the relationships between individuals and society and between markets and the state‚ using a diverse set of tools and methods drawn largely from economics‚ political science‚ and sociology. The term political economy is derived from the Greek polis‚ meaning “city” or “state‚” and oikonomos‚ meaning “one who manages a household or estate.” Political economy thus can be understood as the study of how a country—the public’s household—is managed
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