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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Five Ws‚ a report can only be considered complete if it answers these questions starting with an interrogative word:[3] Who is it about? What happened? When did it take place? Where did it take place? Why did it happen? Some authors add a sixth question‚ “how”‚ to the list‚ though "how" can also be covered by "what"‚ "where"‚ or "when":[3] How did it happen? Each question should have a factual answer — facts necessary to include for a report to be considered complete.[4] Importantly‚ none of
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Which is best for the economy: employment stability or employment flexibility? A recent article in the ILO’s International Labour Review analyzes the relationship between employment stability and productivity in six major sectors in 13 European countries. According to the authors‚ both‚ extensive and short job tenure can produce adverse affects on productivity. They propose a policy of ’protected mobility’ on the labour market‚ together with active labour market policies seeking to combine both
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An economy or economic system consists of the production‚ distribution or trade‚ and consumption of limited goods and services by different agents in a given geographical location. The economic agents can be individuals‚ businesses‚ organizations‚ or governments. Transactions occur when two parties agree to the value or price of the transacted good or service‚ commonly expressed in a certain currency. In the past‚ economic activity was theorized to be bounded by natural resources‚ labor‚ and capital
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When planning your estate‚ it’s important to understand that avoiding probate does not eliminate or reduce estate taxes. Although avoiding probate may reduce or eliminate estate income taxes‚ avoiding probate doesn’t have any effect on estate taxes. In fact‚ avoiding probate and avoiding estate taxes are two unrelated concepts. The following is an overview of the two concepts: Avoiding Probate Avoiding probate is a strategy used to pass the decedent’s property directly to the beneficiaries
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What is the meaning of a knowledge based economy? The term “knowledge-based economy” results from a fuller recognition of the role of knowledge and technology in economic growth. Knowledge‚ as embodied in human beings (as “human capital”) and in technology‚ has always been central to economic development. In the knowledge-based economy it is the production of ideas‚ not goods‚ that is the source of economic growth‚ and the reason that the new computing and telecommunications technologies are
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The Hidden History of Lower Class Japan in the Meiji Restoration “History is written by the victors” is one of the most common expressions when looking at historical events. The winning side that gains power will always consider themselves the good people‚ and will tarnish the name of their “evil” adversaries. Therefore‚ it is important when looking at history to consider biases to prevent getting incorrect ideas about certain groups. However‚ history is also often written about the victors. Most
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with no jobs and found that the cost if living had risen. However‚ as industry became more efficient‚ assembly lines products could be manufactured with the development of quicker and for less money‚ and the Canadian demand for products grew. The economy started to boom‚ all due to jobs‚ price cuts and manufacturing opportunity. The 1920s saw the development of the car industry. Industries developed mass production during the 1920s products could turn out more quickly for less money‚ this changes
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their main source of income is tourism. Jamaica’s economy is extremely dependent on services‚ which is nearly 80% of their GDP. Not only does Jamaica depend severely on outsiders visiting the country but the economy faces challenges in growth of its economy. Problems such as high crime‚ corruption and unemployment is bringing Jamaica’s economy to an all-time low‚ as their debt to GDP ratio is more than 140%. To fix this problem the Jamaican government created the Jamaica Debt Exchange in order to end
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Minimum Wage To improve your wage you need to improve your skill. Employers are wanting people with better skills. They also like it when you improve and develop skills. Employers will give you a better chance than all of your other working associates to raise your wage because you have improved yourself and really improved your skills to be better than your working associates. The skills that you could improve are like education‚ experience and natural talent. Those skills are the main ones that
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