or boom)‚ and periods of relative stagnation or decline (a contraction or recession). Business cycles are usually measured by considering the growth rate of real gross domestic product. Despite being termed cycles‚ these fluctuations in economic activity do not follow a mechanical or predictable periodic pattern. A predictable long-term pattern of alternating periods of economic growth (recovery) and decline (recession)‚ characterized by changing employment industrial productivity‚ and interest
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South Africa is a world leader is terms of mining. Mining constitutes a major part of its economy; one of the major players in the sector is platinum mining. Due to its size any changes in platinum mining would have an impact on the economy as a whole and to a lesser extent the world. The Recent strikes in this industry have caused negative effects on the economy. My essay will look at these effects in terms of output‚ prices and employment. I will also look at the macroeconomic variables that have
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market place. ②Market size; the target market for the products cover all over the world ‚however‚the cumulate sales in Europe‚ Japan and the U.S are higher compare to other regions. ③Influenced by global recession: video game is not the necessary product‚ hence‚the global economic recession have influenced the sale of video game products. The revenue declines 6% in 2010 compare to 2009‚ and also continued decreasing in 2011. ④Growth rapidly:the video game industry have been growingrapidly‚ and
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The GDP of Singapore at purchasing power parity per capita is the 4th largest in the world1. Yet‚ Singapore is small and vulnerable to global storms and was the first East Asian country to fall into a recession in the 2008 economic crises. Biggest impact of recession is the escalating job losses that have become a national dilemma‚ as resident unemployment hit highs of 3.8% (1999)‚ 4.9% (2002)‚ 5.2% (2003) and 4.3% (2009) during downturns2. Shorter economic cycles‚ increased competition due to
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In everyday society‚ companies are affected by the economy. The company either suffers or benefits depending on what kind of economy it is. This will depend on what kind of company it is‚ and what kind of market the business does well in. The Business Cycle is what determines this factor. It is a term used in economics to designate changes in the economy. Timing of the business cycle is not predictable‚ but its phases seem to be. Many economists site four phasesprosperity‚ liquidation‚ depression
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improvements in the economy’s ability to absorb shocks to changes in economic institutions‚ technologies‚ business practices and other structural features. One author claims that between 2005 and 2007‚ a mere 12 economists and analysts predicted a recession to be likely (Bezemer 9). This delusion that economic volatility would continue to remain low was based on seemingly empirical evidence from this same period of economic history. This was a dangerously optimistic interpretation‚ and played a large
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it can go wrong and cause catastrophic proportions. There is no apical market to help evaluate certain goods or services. The economy has changed since 9-11. it’s as if nothing happened from that day forward. the United States was coming off a recession stemming from a bursting bubble‚ consumer confidence was declining‚ and predatory lending was in the headlines. Over the last few years people’s confidence and housing prices have gone down alot since that time. They said now that many of are economic
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ECO202 – Macroeconomics Module 2 Case Assignment Dr. Herbert Weinraub GDP: Questions: 1. Assume that consumer spending is $1‚000‚ government expenditures are $300‚ investments by industry are $150‚ and the excess of exports over imports is $200. Compute the GDP. (Please show your work) The basic formula for calculating the GDP is: Y = C + I + E + G C=1000; I=150; E=200 and G=300 Y=1000+150+200+300=1650‚ Y=1650 2. If we are able to increase our domestic energy production‚ and that allows
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Monetary Policy is different from Fiscal Policy as MP brings about a change in the economy by changing money supply and interest rate‚ whereas fiscal policy is a broader tool with the government. • The Fiscal Policy can be used to overcome recession and control inflation. It may be defined as a deliberate change in government revenue and expenditure to influence the level of national output and prices. Meaning of Fiscal Policy Fiscal policy is also called Budgetary policy. It is
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1. Question : Reporter: A new campaign finance reform bill being considered by Congress would limit the amount of campaign contributions that political candidates can receive. However‚ a survey of candidates running for mayor‚ governor‚ and senate seats shows that not one of them favors the bill. Clearly‚ there is no desire among politicians to limit campaign contributions. Which one of the following points out the flaw in the reporter’s argument above? Student Answer: The reporter doesn’t
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