Unit 6 - Inflation & Economic Growth Inflation As prices for goods and services that we consume increase‚ inflation is the result. The inflation rate is used to measure the rate of change in the overall price level of goods and services that we typically consume. While inflation is a regular annual occurrence in modern economic systems‚ it only becomes a policy concern when reaching unacceptably high levels. As we shall see‚ many modern economic policymakers have developed a short fuse for
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industry numbers that do not fit well with 77% under $0.5 a day. * The number of cell phones in India was 250 Million [4] in Jan 2008; about 400 million in mid 2009 and slated to easily cross 500 Million [5] in 2010 with a current growth rate of over 10 million new cell phones a month. A growth that is clearly not abating. At $20–$200 per cell phone and $0.02-$0.04 a minute rate‚ it is a luxury that folks earning $1 a day cannot afford after paying for food‚ housing‚ clothes. * 2001 numbers for
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fossil fuels is used to do such things as produce electricity‚ power vehicles‚ heat homes and cook food. Oil is the most widely used fossil fuel and also the most widely consumed fuel (over nuclear and renewable) globally with a usage of 38% (Enzler‚ 2010). As oil resources depletes the prices rise and become more of a financial strain on every economy. The price of gasoline/ petrol‚ a product of crude oil used to power many vehicles is gradually rising. Gasoline prices in the Bahamas have risen to
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Unemployment Employment is the prime means for people to earn money‚ allowing them to provide the basic necessities‚ such as food‚ water‚ clothing‚ and shelter for themselves as well as their family members. Since employment is so important to our society‚ the increasing rate of people loosing their jobs is becoming a serious problem. The loss of a job can cause individuals to loose important possessions‚ such as‚ their home‚ car‚ etc.. It will also affect their lifestyle‚ having to manage their
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Economic Growth in American History American History since 1865: HIS 204 Economic Growth in American History The economy has had a great impact on American history. The rise and fall of the economy directly affected many facets of our culture and the financial aspects of American life. It designated social class within the American population‚ generated new businesses‚ and propelled the nation forward from a technological standpoint. In this paper‚ I will explain some of the economic changes
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THE CONS OF THE NIGERIAN ECONOMY Nigeria boasts one of the fastest-growing economies in the world‚ with Gross Domestic Product growth rates above 6% every year since 2003. Home to more than 170 million people‚ it is the most populous country in Africa and the seventh most populated country in the world. The United Nations has projected its population could rise into the top three by 2050‚ potentially overtaking the United States. Unfortunately‚ Nigeria also has a tragic history of conflicts and
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EFFECTS OF CULTURE-CONTACT ON THE CONTEMPORARY NIGERIAN LIFE INTRODUCTION This Chapter attempts the review of various definitions of Culture. It also tries to bring out the common characteristics of culture in various definitions‚ which include being dynamic and transmittable from generation to generation. Factors that can influence culture in a particular society and how people can come into contact with the culture of another society are also highlighted. Some aspects of the Nigerian cultural
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bjournal.co.uk/BJASS.aspx Graduate Unemployment in Nigeria: Causes‚ Effects and Remedies. Dr. Oluseyi A. Shadare Department of industrial Relations and Personnel management‚ University of Lagos‚ Akoka‚ Yaba‚ Lagos‚ Nigeria seyidare2001@yahoo.co.uk Elegbede Sikirulahi Tunde Department of industrial Relations and Personnel management‚ University of Lagos‚ Akoka‚ Yaba‚ Lagos‚ Nigeria‚ telegbede@unilag.edu.ng Abstract This paper examines causes of unemployment in Nigeria as well as the consequences
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STS Part 4.3 TECHNOLOGY TRANSFER AND ECONOMIC GROWTH By Raja Aggarwal Technology is usually defined as "know-how" or the sum of knowledge‚ experience‚ and skill necessary to establish enterprise that will manufacture and market a product economically. Technology needs to be viewed not only as the specific production process or manufacturing technology‚ but also various other types of knowledge and expertise necessary for the planning‚ establishment‚ and operation of a manufacturing
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education. The overall unemployment rate is not exceptional in an international perspective. The interesting thing about Malaysia is that there exists a structural unemployment among the educated youth‚ which in spite of their relatively high level of education wait for a long time before entering the work force. Unemployment occurs when a person is able and willing to work but currently is without work. The prevalence of unemployment is usually measured using the unemployment rate‚ which is defined
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