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Labor, GDP and Firm
Labor is an important factor of production for all firms. The most recent unemployment rate is estimated at 9% (January 2011). Economists have identified three types of unemployment. Which type would affect your firm? Explain. Do you think your firm would benefit from outsourcing? If you chose a firm in which outsourcing is not feasible, you can still discuss the advantages (or disadvantages) of outsourcing.
The three types of unemployment include: structural, changes in technology and shifts in tastes. Structural is when there is a lack of demand for workers with particular skill sets. Changes in technology, takes place when innovations and scientific breakthroughs are leading to a shift in the way businesses are operating. This is the point when there is a decrease in the total number of employees working for a particular firm. Shifts in taste are occurring when consumers want to purchase a particular product or service based on the underlying amounts of popularity. During times when there is a change in tastes, is the point that sales will decrease and those employees who are working for these firms will lose their jobs. The kind of unemployment that is impacting our firm is structural. (Moffat, 2011)
Yes. The reason why, is because outsourcing will allow our organization to lower their cost structure dramatically and increase their overall levels of productivity. Once this occurs, is when the business can be able to quickly adapt to changes that are taking place inside the markets. This is the point that they can be able to maintain their levels of penetration and concentrate on other segments that will improve their bottom line numbers.
If a U.S. firm hires foreign workers abroad, would these wages count in the U.S. GDP? (i.e. A Chinese citizen working in a Nike factory in China) Why or why not?
No. The reason why they would not count is because; the actual product is manufactured in China. This means that it is being exported into the United States for sale. As…
Bibliography
US Consumer Confidence Plunges to Recessionary Levels. Telegraph. Retrieved from: http://www.telegraph.co.uk/finance/economics/8848977/U.S.-consumer-confidence-plunges-to-recession-levels.html
US Unemployment Rate Forecast. (2011). Forecasts. org. Retrieved from: http://www.forecasts.org/unemploy.htm
Moffat, M. (2011). What are the Three Types of Unemployment. About. Retrieved from: http://economics.about.com/od/typesofunemployment/p/three_types_of_unemployment.htm
Labor, GDP and the Firm Labor is an important factor of production for all firms. The most recent unemployment rate is estimated at 9% (January 2011). Economists have identified three types of unemployment. Which type would affect Wal Mart? Explain. Fractional unemployment would have a major impact on Wal Mart. This is because the majority of Wal Mart's employees will receive salaries at minimum wage levels. In the event that someone quits,
By 1990, Thatcher was presiding over a dichotomy, decaying industrial cities in the north and a well developed southern economy. As a result, she was replace by John Major (Columbia Encyclopaedia, 2004). By 2000, GDP was growing at a faster rate than unemployment, possibly due to the fact that Major had obtained an IRA cease-fire, so that Northern Ireland had at least some respite from draining the economy and culture.
Labor Economics is the study of labor force as a factor of production. The labor force in the broad sense of the term refers to all those who work for a definite gain that includes employees, employers, self-employed and also includes the unemployed seeking of jobs. The labor economics involves the study of the factors influencing the efficiency of labor, their deployment, determination of their wages, etc. Geographical factors, mobility
GDP and the Business Cycle; Government Financial Bodies, How Fiscal Policies Impact Production and Employment This memo will address three issues commonly discussed when talking about the economy. First, it will explain and describe how gross domestic product can be used to measure the business cycle. Second, it will describe the roles of the government bodies that are responsible for determining national fiscal policies. Third, it will explain how national fiscal
Government spending (G) may include stimulus packages, investments in infrastructure, or defense spending. The taxpayer funds such spending, but also benefits from such spending. By giving people jobs and hiring private contractors, the government generates more wealth. The newly-employed purchase more goods and services, which has an overall positive effect on the economy. For example, even if a citizen is employed at a grocery store, if workers on a
firm Australia business Philippine. Some risks considered Philippine;, business environment Philippine specific firm. It . A marketing assignment format, focus specific firm. Topic: The firm work a business analyst strongly interested expanding current manufacturing sales ( domestic export) activity markets. Globalization is an obvious trend that is catching on all over the world. Australia has also not been left behind in this. This has led to some Australian firms turning