To what extent is economic growth beneficial for global economies? Economic growth is defined as the expansion of the productive capacity of an economy. An increase in resources causes an area to produce more goods or services in a given period of time – as shown on a production possibility frontier (PPF) diagram‚ where the curve shifts outwards. The PPF is a curve showing the maximum combinations of goods and services that can be produced in a given period with available resources. The improvement
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increased 6.5 times from 310 million to 2 billion passengers. During the same time period‚ the world’s Gross Domestic Product (GDP) tripled from 12 to 36 trillion US$. As the air transportation usage grew‚ it came to play an important role in the global economy: in 2004‚ 40% of international tourists traveled by air while air cargo accounted for 40% of inter-regional goods exports. Air transportation is the only feasible long-distance transportation mode for high-value
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1. In The World is Flat‚ what does Thomas Friedman mean when he says the world is becoming flat? "The global competitive playing field was being leveled. The world was being flattened." From this‚ we can see that a "flat" world is one in which the "playing field" on which companies compete has become level. It is one in which companies from various countries can compete with one another on an equal basis. Friedman says that what has really driven this is what he calls "Globalization 3.0." This
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undertake the aspect of the flat tax rate in the future‚ every citizen regardless of his or her level of income‚ investment‚ wealth will feel the tax obligation at the same rate (Adelmann‚ 2011). For this case‚ a simplified flat tax rate has a greater significant in that it will accelerate and simplify the process as well as save money for the government regarding bureaucratic fees. In as much as the aspect of tax is concerned we get to note that the application of only a flat tax rate in the future will
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Lynn Bi Ms. Winn APEL: Period 6 March 2‚ 2015 When The World is Flat With the acceleration of communication and transportation within the past century‚ the world has undergone transformative changes of globalization – “the inexorable integration of markets‚ transportation systems‚ and communication systems to a degree never witnessed before” (Friedman). A new global culture where products‚ ideas‚ and technologies have an unprecedented ease of exchange has enabled nations‚ businesses and individuals
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16 chapter sixteen The Economy and Work How does change in the economy reshape society? What makes capitalist and socialist economies different? Why have the types of jobs available in the United States changed over the last fifty years? Here’s a quick quiz about the U.S. economy (Hint: All five questions have the same right answer): • Which business do 100 million people in the United States visit each week? • Which U.S. company‚ on average‚ opens a new store every day? • Which U.S. company
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The Flat World Knowledge case study discusses how the traditional textbook publishing model is changing because of disruptive advances in technology that have essentially created the digital publishing market. Although I believe that Flat World Knowledge will be recognized as a successful contributor to the disruption in the textbook publishing market in five years’ time‚ I view online learning – accented by the evolution of digital textbooks – as the disruptive force that has changed the model for
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Essay in Microeconomics “Imperialism as the highest stage of capitalism and modern global economy” by Tania Mousel Introduction Probably no other country in the world has gone through more complex and radical changes in its history over the last 100 years than the Russian Federation. In the last century this vast and diverse territory went from being an empire to being the main part of the Soviet Union‚ to being a liberal democracy. One of the key characters of the early developments
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Reality Television Description One of the most recent and freshest trends to come out of television is the phenomenon of "reality television". Spurred by trend setting programs like CBS’s Survivor and MTV’s The Real World‚ reality television was launched as a new genre. With such recent hits as Laguna Beach: The Real OC‚ Flavor of Love‚ and American Idol‚ reality television‚ as a genre and a staple of pop culture‚ has only begun to grow. In an analysis of various articles studied from The
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look more impressive. In Tortilla Flat‚ John Steinbeck is the jeweler and his characters are the diamonds. Steinbeck’s embellished tone toward his characters is a pretense to show off his characters and present them as more admirable and chivalric than their outward actions would honestly allow. His admiring tone towards his characters in Tortilla Flat contributes to the emphasis of “simple things” presented throughout the novel. Each chapter in Tortilla Flat is a stand-alone narrative‚ and
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