Economics Is "The Social Science Term Paper

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We analyze the economy's productivity by calculating the Gross National Product, which is "the market value of the sum of all the goods and services produced in the economy." The economy's productivity should have a constantly growing figure in order to ensure the fact that that country is currently developing at its fullest potential. The fiscal policy is the "means by which a government adjusts its levels of spending in order to monitor and influence a nation's economy." It comes together with the monetary policy by which a central bank controls a nation's capital supply. Fiscal and monetary policies are used in different arrangements in an attempt to direct a state's economic objectives.

Global Economic Growth and Development is the global raise in value of the commodities and services manufactured by an economy. In economics, the terms "economic growth" or "economic growth theory" usually refer to augmentation of "potential output, i.e., production at 'full employment', which is caused by growth in aggregate demand or observed output." Among the most important theories concerning the economic growth were the mercantilist theory and the absolutist one, or connected to important events in the world's history such as the enlightenment, the industrial revolution etc.

US are the biggest trading country in the world at an international level. However, Americans are happy and at the same time unhappy about how much importance U.S. trade policymakers put on money-making benefit and devastatingly favor including other facilities-"protecting American workers, protecting the environment, preserving international labor standards-into the process of furthering trade." If needed Americans are prepared to diminish the enlargement of trade in order to tackle these additional priorities.

Bibliography

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2007) International Trade, Retrieved December 5, 2007 from Americans and the World. Web site: http://www.americans-world.org/digest/global_issues/intertrade/summary.cfm#top

2007), Getting Acquainted with Economics, Retrieved December 5, 2007 from UMUC European Division, web site: http://faculty.ed.umuc.edu/~shadjida/Lectures/basconc4.htm

2007), Getting Acquainted with Economics, Retrieved December 5, 2007 from UMUC European Division, web site: http://faculty.ed.umuc.edu/~shadjida/Lectures/basconc3.htm

Blaug, Mark (1985). Economic theory in...

...

Cambridge, UK: Cambridge University Press
Heakal, Reem (2007) What Is Fiscal Policy? Retrieved December 5, 2007 from Investopedia, web site: http://www.investopedia.com/articles/04/051904.asp

Reynolds (2005), Principles of Microeconomics, Retrieved December 5, 2007 from Boisestate.edu web site: http://www.boisestate.edu/econ/lreynol/web/PDF/Chapter%201%20Slides.pdf

Thornton, Judith (n.d.) Measuring Economic Performance, Retrieved December 5, 2007 from University of Washinghton web site: http://www.econ.washington.edu/user/thornj/490L1goals.pdf

Wikipedia, (2007), Economic Growth, Retrieved December 5, 2007 from Wikipedia the Free Encyclopedia, web site http://en.wikipedia.org/wiki/Economic_growth

Wikipedia, (2007), Public Sector, Retrieved December 5, 2007 from Wikipedia the Free Encyclopedia, web site http://en.wikipedia.org/wiki/Public_sector

Reynolds (2005), Principles of Microeconomics, Retrieved December 5, 2007 from Boisestate.edu web site: http://www.boisestate.edu/econ/lreynol/web/PDF/Chapter%201%20Slides.pdf

2007), Getting Acquainted with Economics, Retrieved December 5, 2007 from UMUC European Division, web site: http://faculty.ed.umuc.edu/~shadjida/Lectures/basconc3.htm

2007), Getting Acquainted with Economics, Retrieved December 5, 2007 from UMUC European Division, web site: http://faculty.ed.umuc.edu/~shadjida/Lectures/basconc4.htm

Wikipedia, (2007), Public Sector, Retrieved December 5, 2007 from Wikipedia the Free Encyclopedia, web site http://en.wikipedia.org/wiki/Public_sector

Blaug, Mark (1985). Economic theory in retrospect. Cambridge, UK: Cambridge University Press

2005) FW5-Macro Economy, Retrieved December 5, 2007 from Free World Academy, web site: http://www.freeworldacademy.com/newbizzadviser/fw5.htm

Thornton, Judith (n.d.) Measuring Economic Performance, Retrieved December 5, 2007 from University of Washinghton web site: http://www.econ.washington.edu/user/thornj/490L1goals.pdf

Heakal, Reem (2007) What Is Fiscal Policy? Retrieved December 5, 2007 from Investopedia, web site: http://www.investopedia.com/articles/04/051904.asp

Wikipedia, (2007), Economic Growth, Retrieved December 5, 2007 from Wikipedia the Free Encyclopedia, web site http://en.wikipedia.org/wiki/Economic_growth

2007) International Trade, Retrieved December 5, 2007 from Americans and the World. Web site: http://www.americans-world.org/digest/global_issues/intertrade/summary.cfm#top

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