–5– M12/3/ECONO/SP2/ENG/TZ0/XX (Question 2 continued) 2212-5113 Turn over M12/3/ECONO/SP2/ENG/TZ0/XX –6– 3. Study the extract below and answer the questions that follow. Eurozone debt crisis the issue of rising government debt. recession The combination of larger sector has caused higher public debt levels. Eurozone governments have been urged to in danger of default. (This question continues on the following page) 2212-5113 M12/3/ECONO/SP2/ENG/TZ0/XX (Question 3 continued) (paragraph
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2010‚ which followed a contraction of about 5% during 2009. The Italian government has struggled to put a cap on their spending‚ and Italy’s high public debt is still exceeding 115% of GDP‚ with the fiscal deficit being just 1.5% of GDP during 2007 – this grew and exceeded 5% throughout 2009 and 4% in 2010‚ as the costs of maintaining the national debt increased. Italy’s purchasing power parity (PPP) was estimated at $1.774 trillion in 2010 and its Gross Domestic Product (GDP) at $2.055 trillion
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rights for females in the male fields. The flappers showed their rebellion by wearing short skirts that in previous years would have been entirely inappropriate dress for women. Rebellion was also shown by the increased number of females working in public offices‚ obtaining jobs‚ attending colleges‚ and having leading roles in professional careers (events that were practically unheard-of fifty years earlier.) Women professionals increased 50 percent‚ while married working women increased 30 percent
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aggressively than the US Federal Reserve to the crisis. Why? c) In May 2010‚ should the ECB agree to purchase Greek sovereign debt? Case 2: Foreign Ownership of US Treasury Securities a) Why is foreign ownership of US Treasury securities rising? It is more interesting for foreigners to buy US debt to hedge their holdings. - Accumulating budget deficit (mandatory public spending‚ military spending) huge military spending due to wars in Iraq and Afghanistan. 9/11 and war on terrorism. Foreign
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promised to cut the federal deficit in half by the end of his term‚ but instead of doing so he has increased the debt by $5 trillion and the federal debt by 44%. Obama is unaware to the fact of how money is being added up and that our country is in high alert. 1.Obama is demanding more than $1 trillion in tax increases become a part of any deficit reduction package attached to a vote on the debt ceiling. 2.This is mind boggling to some considering raising taxes during a recession is a bad idea‚ if
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Philippines: No Other Place But Up The Philippines is considered one of the fastest growing economies in Southeast Asia. As of 21st century‚ the country is a member in several international organizations’ including the APEC‚ Association of South East Asian Nations (ASEAN) and World Trade Organization (WTO). In addition the Philippines also have a lot of trading partners and trade agreements. Though‚ the Philippines have suffered negative balance of trade for many years. In January of 2013‚ the
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(fiscal‚ monetary‚ automatic stab homework questions: Homework #8 Chapter 13‚ Spring 2014. 1. Show the economy at full employment. Show graphically and state how the economy would go into a recession—be specific about the kinds of spending that would change and why it might change. Then‚ show graphically and state how fiscal policy could be used to get the economy back to full employment—be specific please. 2. From the problem above‚ if the RGDP gap was 2 trillion dollars‚ and
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U.S. deficit surplus and debt? The federal administration account shortfall or surplus is the cash variation amongst the administration receipts and costs‚ ignoring intra- government transfers. However‚ there is a definite expenditure that adds to the liability but is expelled from the deficit. The centralized liability as a share of the nation’s earnings has speckled. Throughout the years the nation has run up deficit throughout war and depression‚ but somehow the debt has declined. In principle
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try to fix its economy. Colonies enrich mother countries through: - Trade - Commerce - Great-Britain is the best at these two. Stimulus for domestic production in colonies is favored. Trade surplus is used to enhance infrastructures of the state‚ army‚ etc... - This is also favored. The Spanish empire was under the Hapsburg control - Loose way of control. - Made them fall back behind. Spain was depending on silver and gold extraction. Spain was very rural and agricultural. - Never
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closer to expenditure. European Central Bank (ECB) One of the seven institutions of the European Union (EU) listed in the Treaty on European Union (TEU). It is the central bank for the euro and administers the monetary policy of the 17 EU member states which constitute the Eurozone‚ one of the largest currency areas in the world. Financial contagion It refers to a scenario in which small shocks‚ which initially affect only a few financial institutions or a particular region of an economy‚ spread
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