Economic Growth Essays (Examples)

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Economic Theory Since the Great Depression Many

Words: 1748 Length: 5 Pages Document Type: Research Paper Paper #: 237487

Economic Theory

Since the Great Depression, many Keynesian economists have been arguing that their basic approach is the best way to deal with issues that could have a long-term impact on the economy. At the heart of this basic philosophy, is the belief that when spending in the private sector is stagnant, the public segment can be able to deal with these challenges. The reason why, is because the government could engage in actions such as favorable monetary and fiscal policy. If this kind of approach is taken, it will help to provide additional demand. Once this occurs, it means that they can begin to stabilize the economy and prevent negative calamities from taking place. This is significant because, these basic ideas have often been used by economists throughout the decades to illustrate how this is one of the major tools that can be utilized to deal with a host…… [Read More]

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Economic Indicators

Words: 541 Length: 2 Pages Document Type: Term Paper Paper #: 48234739

economic indicators: housing starts and personal income. A brief definition is given of each, as well as the current state. In addition, historic charts are presented with data for both indicators.

Economic Indicators

Define housing start economic indicator. Describe its current status. In addition, present a separate graph illustrating the historic trend for housing starts.

US Housing starts figures are reflective of the number of residential units, on which construction is began, for a specific time period. These starts are reported by the Bureau of the Census around the 16th of each month. Economists forecast housing starts by using the current month's permits to predict starts. Typically, building permits run in tandem with building starts. Housing starts are considered to be a leading indicator of the economy ("Housing starts," 2000).

A drop in mortgage rates is often followed by an increase in building permits and then starts. During turning points…… [Read More]

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Economic Data That Has Been Released in

Words: 689 Length: 2 Pages Document Type: Term Paper Paper #: 61715918

economic data that has been released in 2005 are somewhat contradictory, but the general impression is that the U.S. economy is managing a strong and sustainable growth. Indeed, the report published on January, 18th 2005 showed investments in U.S. assets of around $81 billion for November 2004, more than enough to finance and fund the current account deficit of $60 billion.

In terms of weaknesses, we need to mention the enormous trade deficit and budgetary deficit that the U.S. is currently encountering. These deficits have diminished confidence in the dollar, as its strong descent over 2004 has shown.

As any measure in time of economic growth and growing demand, the officials should now be concerned on policies meant to stabilize and prevent any inflationary factors. One such policy is increasing the interest rates and the Federal Reserve has already taken specific measures in this sense, increasing the rates to 2.25…… [Read More]

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Economic Principles Fetter's Economic Principles Fetter Text

Words: 535 Length: 2 Pages Document Type: Essay Paper #: 95743861

Economic Principles)

Fetter's Economic Principles

Fetter text on Economics principles is in line with major applications of economics though it does so with lots of caution to ensure qualifications that are necessary. The book treats science of economic growth, motives of economic and economic nature as core fundamental to understanding economics.

Evaluation of the Discussions in Economics Principles

In the book, Fetter puts weight on time as an important aspect in investigating the connection between economic aspects such as price and cost among others Fetter, 1927.

Strongly he objects to theory in economics which is not time conscious claiming it will be dismissed by time itself. Fetter uses theory to put across discussion and arguments which he further supports with diagrams and illustrations Arthur M. Diamond, 2008.

The diagrams and illustration are not for problem solving rather, to ease understanding giving a greater precision of arguments.

The book considers a…… [Read More]

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Economics of the UAE

Words: 1842 Length: 6 Pages Document Type: Research Paper Paper #: 82788345

Economies of the UAE

Economics of the UAE

Current analysis of UAE Economy

Historical economic aspects

Discussion of basic economic indicators

GDP: per capita GDP; growth rate of GDP

Inflation rate

Budget

Trade balance

Natural / Human resources & Infrastructure

Exchange Rate Behavior and Forecasting

Demographics (age distribution)

Short-term and long-term prospects/forecasts for UAE Economy

Current analysis of UAE Economy:

The Persian Gulf states including Abu Dhabi, 'Ajman, Al Fujayrah, Ash Shariqah, Dubayy, Umm al Qaywayn, and Ra's al Qaywan are represented as UAE. The states follow an open economic and moderate political policy. The states are rich in oil reserves providing a structured support for their economic and social progress. The strong economic position of the states has enabled them to earn a competing position with the developed western countries. The continuous growth in economy has also enabled the businesses to invest in UAE. The governments of UAE are…… [Read More]

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Economic Development ICT and Poverty

Words: 1450 Length: 5 Pages Document Type: Term Paper Paper #: 8614404

3-0.27

France 1.6-0.25

Germany 2.1-0.19

Italy 1.9-0.24

Japan 1.9-0.19

UK 1.4-0.40

US 1.0-0.41

Source Kodakanchi et al. (2006) citing Schreyer (1999), Table, page 19

Further reported by Kodakanchi et. al, is the fact that one of the African countries, and there are many, that faces poverty and inequality disaster is the country of Ghana. Advances in technology in Ghana are stated to be "meager since its independence in 1957." (2006) the economic development model based on it for developing countries takes into account the major concerns to it advent into these countries which are those of the: (1) Inability to invest in the it field due to poor financial infrastructure; and (2) inadequate human power with the knowledge of it." (Ibid) the economic model, which has been proposed, is one that has larger foreign investment and government policies in support of it development as well as an awareness on the…… [Read More]

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Economic Development in Southeast Asia

Words: 1763 Length: 7 Pages Document Type: Term Paper Paper #: 63801742

Vietnam and Indonesia, for example were governed by democratic powers, nowadays leaning more and more towards liberalization. These countries did not enclose themselves within the geographical boundaries of the territory, but initiated business relationships and partnerships with neighbor countries or across the globe countries. These countries understood the concept of compared advantages and applied them in practice.

One of the most relevant examples of economic success due to international trade based on imports and exports is Indonesia, which has been able to increase its inhabitants living standards throughout trade activities.

5. Conclusions

The economic status of the southeastern Asian countries was highly disputed along the years. "Analyzes of economic growth have drawn on the experiences of the East Asian newly industrializing countries to highlight the contribution of cohesive and autonomous states in the resolution of market failures."

Whichever the current situation of the countries in southeastern Asia, fact remains that…… [Read More]

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Economic Futures Facing Larson Inc

Words: 1032 Length: 3 Pages Document Type: Research Paper Paper #: 41960187



It is worth noting that two economic consequences are likely to occur, particularly in the event of a V-shaped recovery. The first is that the Federal Reserve is going to wait to increase rates until the last possible moment, in the hopes of spurring greater investment and therefore job growth. This means that inflation is expected at some point this year. This inflation means that factor inputs will increase in cost. Larson can gain advantage over competitors if it can hold its wholesale cost stable in the face of an increase in the cost of factor inputs, since competitors may be forced to increase their prices. Careful control over its cost structure will allow Larson to do this while maintaining profitability.

Another potential economic consequence is a decline in the value of the Euro. Normally, Larson exporting products from America to Germany would be fairly easy given Germany's current account…… [Read More]

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Economic Development of a U S

Words: 2306 Length: 7 Pages Document Type: Term Paper Paper #: 65180312

New companies have the advantage of taking more risks and investing more in the research and development process, being interested in addressing less developed industries.

It is difficult for large cities like New York to attract such companies. The main reason for this situation is represented by the high costs of doing business in these areas. Even so, the city can counteract this problem by providing strong productivity opportunities that are determined by high human capital and relative wages.

The most important economic sector of New York is represented by the financial services sector, including finance, insurance, and real estate business sectors. The importance of this sector is reflected in its influence on jobs evolution and of the city's earnings. Therefore, the authorities have recognized the potential of this source of jobs and of earnings, and their interest in this sector must be translated in a series of incentive intended…… [Read More]

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Economics Still Rolling China's GDP

Words: 872 Length: 3 Pages Document Type: Term Paper Paper #: 44191323

Once again however, Shengxia and Baije do not explain their arguments nor do they show exactly how the Chinese GDP evened out the trade balance with the U.S., nor how it supported the economy of its regional neighbors.

In terms of the elements threatening the future stability of the country and its economy, the authors point out that the Chinese authorities have been quick to identify these threats; they will as such address them in an efficient manner. They will for instance instate regulations capping the levels of loans to be granted to the population with the specific aim of reducing inflation and over-consumption. Examples of such measures include the limitation of the bank loans to a 7.5 million Yuan for the year, and a rumored 0.27% increase in the interest rates. At this stage, it is however unclear what exact measures the officials will take, and if these are…… [Read More]

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Economic Statistics Guide to Everyday

Words: 1160 Length: 4 Pages Document Type: Essay Paper #: 52984851

In the future, the politicians could support an agenda promoting the national manufacturers in an attempt to reduce imports and increase exports. The direct impact for the mechanic could be that he might have more work in the future.

Another example of how the book is useful is given by the need or desire to understand the features of the contemporaneous economic crisis. Despite the fact that the media present apocalyptic stories of today's financial challenges, a reading of Clayton and Giesbrecht's book would reveal that the economy has often been confronted with challenging times and that times of economic boom and recession are normal. Otherwise put, a Guide to Everyday Economic Statistics would help the reader understand the cyclic character of an economy and he would as such be less pessimistic. Listening only to the media coverage of one bankruptcy following another would definitely take a negative toll on…… [Read More]

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Economic Logic

Words: 2509 Length: 8 Pages Document Type: Term Paper Paper #: 34534918

Rewarding Work: How to Restore Participating and Self-Support to Free Enterprise (Harvard University Press, 197), economist Edmund Phelps offers this plan to help the working poor: apply tax credits for "qualified employers" or hire disadvantaged people for "eligible jobs." Evaluate this plan in terms of market incentives, one of the ten principles of economics, to work and current welfare programs. Is the Phelps' plan an improvement over current government policies? Discuss.

Lowering a company's tax bill will generally always be effective in causing them to invest more money in expanding which usually means more hiring. However, it is not a panacea, as the recent economic incentives have proven. As of late, firms have received a number of tax cuts but there has also been the passing of the Dodd Frank financial reform bill as well as ObamaCare, both of which (ObamaCare in particular) is clearly making employers cool to hire…… [Read More]

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Economic News Story Catts Tim

Words: 743 Length: 2 Pages Document Type: Term Paper Paper #: 31308697

(Semuels, 2010)

Willis, Bob. "U.S. Economy." Business Week. 2010. Web. 30 Jun. 2010.

In this article, the author discusses how incomes grew faster in May than spending, resulting in improved amounts of saving from consumers. This is significant, because it shows how the economy is attempting to form some kind bottom, with the psychology of consumers changing. When an economic recovery begins, this will be an important element in helping to provide a foundation, for large big ticket purchases. At which point, the increased savings will translate into more spending and investing. (Willis, 2010)

Schlisserman, Courtney. "U.S. Economy: Business Activity Index Climbs. Business Week. 2010. Web. 30 jun. 2010

In this article, the author discusses how the ISM Manufacturing Index continues to remain above 50, with the number coming in at 54 for May. When you see a consistent increase above 50, this is sign that the manufacturing sector is…… [Read More]

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Economic Analysis of Government Intervention

Words: 1383 Length: 5 Pages Document Type: Term Paper Paper #: 86418343

CHINA'S IMPROVING ECONOMY

SUSPECTED PROBLEMS

FINANCIAL OPPORTUNITIES

FOR PARTCIPATING NATIONS

CHINA'S MOST SURPRISING TURN

GDP INFORMATION

CHINA'S IMPROVING ECONOMY

China has been an independent nation since the beginning of time, specifically its financial institutions are state owned. Although under developed, and one of the slowest developing countries, China was a proud and self-sufficient country, desiring to be individual, and dependent upon no other nation. Many years of being independent have severely limited the incoming and outgoing of financial funds and support, and as a result, China has reached its lowest economic downfall in history. Last December, China agreed to sustain an agreement with the World Trade Organization, after debating over the idea for the past fifteen years. The goals of entering an agreement with the World Trade Organization, were reducing the unemployment rate, and improving the China's economy. One of the obligations on China's part was they must submit to…… [Read More]

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Economics and Global Capitalism

Words: 2498 Length: 8 Pages Document Type: Essay Paper #: 75396651

1. The clip “What is Capitalism?” presents a certain vision of capitalism. Do you feel that the image they present is realistic? 
I do not feel that the image of capitalism that is presented is realistic because it imagines that the wealth created by the U.S. because of its economic philosophy was real when in fact it was highly manipulated and fabricated by political and centralized banking forces. Capital is used to squeeze, inflate, exploit, and destroy and the idea that some noble or holy form of capitalism exists that is separate from human nature, where greed, corruption, pride and ignorance go hand in hand, is to be disconnected from reality. The U.S. boomed because of easy credit and it went bust at times because of a tightening of credit. The idea of a free market is absurd because the economy has always had an element of command and control…… [Read More]

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Economic Development to What Extent

Words: 580 Length: 2 Pages Document Type: Research Paper Paper #: 16491203

To determine which views are most accurate we will examine the short and long terms effects that immigration are having on the U.S. economy.

Introduction

Since the 19th century, the United States has been one of the places where immigrants will go to, seeking out economic prosperity and a new life. As time went by, an increasing number of immigrants would begin coming to the country for a host of reasons. In some cases, these people were immigrating lawfully, while others were entering the nation illegally. This is in response to the demand for their services and the economic benefits that they provide to communities. At the same time, each person has the ability to experience some form of economic upward mobility. A good example of this can be seen by looking no further than a study that was conducted by the National Venture Capital Association. Where, they found that…… [Read More]

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Economic Outlook of the US Economy

Words: 3696 Length: 5 Pages Document Type: Term Paper Paper #: 78714332

Summary

Economic forecasting refers to the process of trying to predict the future state of the economy through a series of different indicators. This process helps to understand the probable future of a nation’s economy and for policymaking to help promote economic growth. When developing an economic forecast, various macroeconomic factors/conditions are taken into consideration. This paper provides an economic forecast of the U.S. economy based on recent economic indicators in 2017 and 2018.

Based on seasonally adjusted annual rates in the fourth quarter of 2017, the gross domestic product growth rate is expected to increase moderately in the first quarter of 2018. As shown in these indicators and based on recent macroeconomic conditions, GDP growth rate in the first quarter of this year is expected to be approximately 2.8%. Additionally, GDP growth rate will continue to increase moderately in the second half of the year to exceed 3.0%.

In…… [Read More]

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Economic Development

Words: 2868 Length: 10 Pages Document Type: Term Paper Paper #: 68510566

Kenyan reform policy Successful?

The need for reform in Kenya has been clearly demonstrated. But the question remains, has this reform been successful? The slogan of "Harambe" fueled the passions of the Kenyan people and drove them to strive as one nation to lift themselves up from poverty and oppression. It has been ten years since the last reform and it is now time to look back and see what has been accomplished.

To measure the success of the reforms we will consider several economic indicators both before the reform and after to see how they have changed. Then these factors will be considered as a whole to develop a better outlook on the entire picture. We will consider education, the performance of the industrial sector, the trade and tourism sector, the finance sector, rate of inflation, employment and wages, the agricultural sector, construction, social services and some comments on…… [Read More]

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Economic Analysis Brazil and Bahrain

Words: 2326 Length: 8 Pages Document Type: Essay Paper #: 36709409

Analyzing Economic Aspects Between Bahrain And Brazil
Introduction
In delineation, an economic indicator is a component of economic data, more often than not of macroeconomic magnitude, that is employed by analysts to construe prevailing or impending investment prospect or to evaluate the overall health of an economy. It becomes possible to ascertain the performance of a certain economy with respect to these metrics and also make a comparison between two or more nations. These economic indicators are fundamental statistics that show the direction and course of an economy (Investopedia, 2018). The main purpose of this paper is to conduct an analysis of economic indicators of the economies of Bahrain and Brazil.
Trends of GDP
The gross domestic product (GDP) is one of the fundamental indicators that are employed to make an assessment of the health of a nation’s economy. It signifies the overall dollar valuation of all the goods and…… [Read More]

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Economics Finance MBA Level

Words: 13568 Length: 50 Pages Document Type: Term Paper Paper #: 39727750

disrupting America's economic system is a fundamental objective of terrorists

Even as the world continues to struggle with the terrible shock from the September 11 attacks in New York and Washington, one principle lesson has already become clear: disrupting our economic system is a fundamental objective of terrorists.

Prior to September 11, our economic environment was certainly not immune to terror, in comparison to many other nations; we lived relatively terror-free. Now, however, the aftermath of the terrorist attacks serves as a grim reminder that international relations and security developments can dramatically affect economic performance.

US History is replete with countless examples when macro fundamentals are overtaken by what economists refer to as, exogenous shocks -- surprise events that can profoundly and often unpredictably shift political and economic resources, and send even the most accurate forecasts astray. Commodity shocks, such as the two OPEC jolts in the 1970s, are classic…… [Read More]

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Economic Systems Are Quite Complex

Words: 2096 Length: 6 Pages Document Type: Essay Paper #: 75693277

Plus, if the world is tied together economically, there is more impetus to prevent hyper-inflation, to help other countries in times of natural disaster, and to form a more humanitarian-based society. It seems that the idea of globalism was also assisted with new macro-trade agreements combine with the easy communications brought about because of the advances in cellular technology and the Internet. This rapid growth of the global economy affects modern economic development, stability, labor, and the environment in a dramatic way. Developing countries did not, in most cases, have the long tradition of the Industrial Revolution, so they are now trying to rapidly modernize; to build their economies in years or decades when it took the West centuries. This is in part due to the need for satisfaction of the populace, in part because of the way information is shared, and in part because on a regular basis, the…… [Read More]

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Economic Theory Deep Thoughts

Words: 565 Length: 2 Pages Document Type: Book Report Paper #: 56856186

Economics

One of the most fascinating aspects of Chapter 4 is how the Marxists theories provide insights into how tightly economic, geopolitical and societal forces interact to redefine the foundational definition of value in a society. What's most fascinating about Marxism relative to capitalism is that fact that the former tends to see economic ecosystems as manageable and even predictable. Capitalism shows that economic ecosystems, while defined through constructs and frameworks at the macro- and micro-level, is best managed with a laissez-faire based approach to orchestrating commerce. To the Marxist, laissez-faire economic systems seem fertile for exploitation and the monopolistic aggregation of entire industries. To the capitalist, Marist economies lack the freedom to allow resources to flow to and fund innovation and needed products that a turbulently changing market require. The dichotomy of egalitarianism relative to free market dynamics is a fascinating one, and it's clear that the dividing lines…… [Read More]

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Growth of Latin America vs

Words: 437 Length: 1 Pages Document Type: Term Paper Paper #: 52265220

59-84). A lack of rule of law equates to lawlessness and high levels of violence and theft.

In aggregate the factors of investment, fertility, schooling, and socio-political openness to new venture create statistically significant differences in economic performance between the regions. What De Gregorio (et. al.) also found was Latin American nations are continually coming in and out of economic crises, which makes their banking system, money supply and balance-of-payments highly risky and difficult to invest in even when there is a growth opportunity. Latin America's greatest challenge will be in overcoming the tendency to continually cycle from one economic crisis to another.

References

De Gregorio (2004) - "Growth and Adjustment in East Asia and Latin America"

Econom'a Journal. Jose De Gregorio - Volume 5, Number 1, Fall 2004, pp. 69-134.

Brookings Institution Press. Accessed from the Internet on February 7, 2007 from location: http://muse.jhu.edu/journals/economia/toc/eco5.1.html

De Gregorio (1992). "Economic Growth…… [Read More]

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Economics of the UAE Assessment Group Project

Words: 1987 Length: 6 Pages Document Type: Research Paper Paper #: 32993579

Kuwait Sample

Summary of Kuwait's macroeconomic performance

Kuwait much like most of the developed world has undergone significant change. This change has occurred in both social and economic matters. Aspects that once plagued the nation are now being abated by policies that increase productivity and enhance economic activity. Much work still remains for the nation however, as disparate views often conflict with proper policy. After Kuwait gained independence from the United Kingdom in 1961, the state's oil industry saw unprecedented economic growth. Oil production during the following decades nearly doubled. Oil during these periods, was primarily exported to other developed nations including the United States and Japan. As time passed, Kuwait gained a strong competitive advantage in oil and petroleum-based products. This advantage, ultimately allowed the country to flourish during the 1980's and 90's. However, as will be discussed later in the document, economic concentration of petroleum-based products created a…… [Read More]

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Economic Effects of Urbanization

Words: 1624 Length: 4 Pages Document Type: 'Literature Review' chapter Paper #: 57766665

Keyder, Caglar. "Globalization & Social Exclusion In Istanbul." International Journal of Urban and Regional Research 29.1 (2005): 124-134. Web.

The question and issues to be addressed in this source are the negative effects and outcomes that are seen with globalization within Istanbul and the rest of Turkey. There is the recognition that Turkey has globalized and grown significantly over the last century but there have also been a lot of people that have been hurt by the patterns rendered. One of the main reasons that urbanization happens and ends up having undesirable effects is the fact that the globalization and associated global reconfiguration has an effect on the "urban fabric" that causes a disturbing of the stability and balances of the economy. This is due to the restructuring of the same. The new networks brought on by globalization introduce new employment types and levels of differentiation. There are certainly people…… [Read More]

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Economics of American Health Care 2015

Words: 2049 Length: 7 Pages Document Type: Case Study Paper #: 57571664

chief economic principle that must be confronted in the horrifying picture Steven Brill paints in "Bitter Pill: Why Medical Bills Are Killing Us" is the devastating effect caused by economic monopoly. Brill tiptoes around the issue, and basically defines monopoly by the concept of "powerless buyers" -- -but the economic conditions that render buyers powerless are economic conditions that restrict a buyer's freedom of choice, which is precisely the problem with American medicine in Brill's article. Doctors -- or by extension the Medical Industry -- represent a monopoly. There may be a plethora of pharmeceutical companies that exist, and which ostensibly compete under heavily regulated industries (which include a close government supervision on potentially monopolistic new inventions, such that copyrights and patents in pharmaceuticals are guarded under law for a mere fraction of the time that the copyrights and patents, for example, involved with Walt Disney's trademark cartoon character Mickey…… [Read More]

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Economic Model for Monopoly Analysis

Words: 14390 Length: 30 Pages Document Type: Term Paper Paper #: 47374384



The deal was immediately criticized as anti-competitive by William Kennard, the chairman of the Federal Communications Commission, and by the Communications Workers of America, which represents some workers at both of the merged companies. But neither government regulators nor union bureaucrats will have the slightest impact on the latest merger. They have neither the power nor the desire to oppose the plans of the giant telecommunications monopolies. More substantial opposition to the merger exists among the overseas rivals of the huge American firms. Deutsche Telekom and France Telecom, the semi-privatized telecommunications companies of Germany and France, each owned 10% shares of Sprint, and Deutsche Telekom at one point sought to enter the bidding to acquire the entire company. Now both European firms will sell their holdings because MCI WorldCom is in competition with them in the European market. It is the second time that WorldCom chief Ebbers has spiked an…… [Read More]

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Growth of Korean Automobile Industry in America Trade Relations

Words: 2964 Length: 10 Pages Document Type: Term Paper Paper #: 48661088

growth of the Korean automobile industry in the Unites States from a trade and finance perspective.

Use eight sources of information.

Korean Auto Industry

Red

To begin an investigation into the Korean automobile industry, we first have to start with some basic facts about the Korean Passenger car Industry. The South Korean auto industry is the second largest in Asia and has been one of the key growth industries, along with construction, shipping and electronics.

Passenger cars and multi-purpose vehicles (MVPs) are the main transportation mode in South Korea and is a very competitive industry. Domestic sales of cars and MVPs accounted for over one million units sold last year. In 1944, Kia Motors set up the first assembly plant. Today, there are two main players in this industry -- Hyundai Motor Company and Daewoo Motors. Samsung Motors entered the playing field in 2000. The only foreign presence in the…… [Read More]

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Economic Environment Simply Defined Globalization Is a

Words: 1833 Length: 5 Pages Document Type: Term Paper Paper #: 59662156

economic environment, simply defined, Globalization is "a phenomena by which economic agents in any given part of the world are much more affected by events elsewhere in the world." (Wolf, 2004) Globalization also "refers to the process of increasing social and cultural inter-connectedness, political interdependence, and economic, financial and market integrations. Globalization makes alliances an integral part of a firm's strategy to better satisfy customers and to achieve sustainable competitive advantage." (Thoumrungroje and Tansuhaj, 2004) Technology has changed the way we work and live. The role of national governments in shaping domestic policies still matter. But multinational organizations play a significant and often very critical role in influencing many of the decisions made by the government of countries all over the world. Liberalization policies implemented by governments have the ability to change the way business interactions take place. Markets and operations, these days, have been crossing geographical boundaries. Government can…… [Read More]

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Economic Strategies

Words: 483 Length: 2 Pages Document Type: Term Paper Paper #: 23264809

Home Building Industry: An Economic Strategy

This paper will briefly explore how recent economic indicators such as record low interest rates for mortgages and housing starts should motivate house builders to strategize for continued economic growth. At this time while the housing bubble has not burst, it is important for such companies to focus on strategy in order to remain competitive when the bubble does burst.

This type of boom in originations has spawned tremendous economic growth with regards to employment rates, reurbanization, new home building, consumer spending and confidence and made hundreds of billions of dollars for the players involved. The housing boom kept this country afloat during the darkest moments after September 11, 2001 when other industries like travel, hospitality, entertainment, energy and telecommunications seemed uncertain. One can argue that such a relationship is cyclical; what comes around goes around in the manner of economic trends such as…… [Read More]

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Economic Aspects Social Aspects of

Words: 2901 Length: 8 Pages Document Type: Term Paper Paper #: 3306001

As this was going on, another event was unfolding between 1734 and 1737 and it saw the demolition of the set up fortification built between 1658 and 1683 and on their part, a 14.5 km wall was build covering 1,330 hectares that had 80,000 inhabitants. The area remained so for the next over hundred years. By 1740, Berlin was taking a new shape under the great Friedrich's direction. Massive construction started and went on for long undisrupted. In 1763, Friedrich II buys the porcelain industry that was earlier owned by Johann Ernst since 1761. On the other hand, it wasn't until 1764 when a German language auditorium was established at Behrenstrasse and this saw a new beginning for theatre as earlier plays were performed in foreign languages like the French (Schulte-Peevers 253). By 1770, the earlier established path linking City palace and Tiergarten in 1647 was enlarged becoming a significant…… [Read More]

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Economics Development to Environment in

Words: 3246 Length: 10 Pages Document Type: Thesis Paper #: 77492558

(Ward; Mohapatra; Mitchell, 2008)

The Great Lakes also contain large amounts of 'polychlorinated dibenzo-furans - PCDFs' and 'polychlorinated dibenzo-dioxins -PCDDs' which are a result of the chlorine bleaching process of paper and pulp mills. In a nation wide study conducted for a period of 4 years on samples of fish and shellfish from various freshwater and marine water bodies in Canada, it was found that the fish from the Great Lakes were among the most contaminated samples. (Steinhart; Doyle; Food Research Institute, Cochrane, 1995) the paper and pulp industry has also grown with the growth of the economy. However, contaminant discharge from this industry still continues despite the various environmental measures taken by the paper and pulp industry of Canada. This industry has also caused disturbance to the huge boreal landscape of Canada. Approximately 50% of Canada's fresh water is located in these boreal forests. Developmental activities have affected these…… [Read More]

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Economic Development of Guangdong in the 90s

Words: 740 Length: 2 Pages Document Type: Article Review Paper #: 71886080

Boom times on the gold coast of China" by Mike Edwards and Michael Yamashita (1997) discusses the industrial boom in the Pearl River Delta. This area of southern China, adjacent to Hong Kong, was experiencing a boom in the 1990s in manufacturing. The authors of the article were writing about it like it was a new things, which I guess back then it probably was. The explored the nature of this boom, touching upon the political and economic system of the PRC, as well as some light economic discussion about talent and capital inflows. Hong Kong was seen as the source for a lot of the influx of talent and capital. This is a big reason why the Pearl River Delta became such a significant manufacturing hub, because Hong Kong served as a gateway for Western money to flow into the region. The article was written around the time of…… [Read More]

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Economic Integration of the Americas

Words: 816 Length: 2 Pages Document Type: Essay Paper #: 69829121

Regional Economic Integration

Regional integration of the Americas affects most countries in North America, South America and the Caribbean. The movement has formal origins in early trade agreements and blocs such as NAFTA and MERCOSUR. The regional integration today is focused on building stronger links between the nations of the Americas to lower trade barriers and foster economic growth between these nations (Lavranos, n.d.). Talks are aiming towards a free trade area with at least 34 countries included (The Economist, 2011). The nations involved are the U.S., Canada and 32 other nations in the region, the notable exceptions being members of an anti-America bloc that includes Venezuela, Cuba, Bolivia and Ecuador (The Economist, 2011).

Subgroups exist within these many countries. Several smaller trade pacts form the backbone of the existing groupings -- Mercosur, NAFTA and the Andean Community (excluding Ecuador). These countries have already signed many different trade agreements around…… [Read More]

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Economic Development

Words: 3492 Length: 10 Pages Document Type: Term Paper Paper #: 32400864

Kenya: A Case Study in Reform

From its rough beginnings, Kenya has instituted a series of economic reforms in an attempt to raise the condition of the Kenyan people. They are an attempt to bring the Kenyan people out of a state of poverty and repression to one of stability and security about their ability to sustain themselves. Each reform has been better than the last, but they are still far from solving these issues in their country. This paper will cite the reasons for this as being a need for the people to regain the feeling of nationalism echoed in the early years of independence.

Kenya's History:

Prior to1800 Kenya consisted of groups of small tribal governments. Kenya is grouped into more than 70 ethnic groups, Some of the ethnic tribes are large e.g. The Agikuyu who form a majority of the population within their homeland in the central…… [Read More]

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Economics International Trade

Words: 3214 Length: 11 Pages Document Type: Term Paper Paper #: 92125911

International Trade Between Bahrain and Saudi Arabia

This is a paper on Trade between Bahrain and Saudi Arabia, focusing on how it affects their international trade relations with special attention to OPEC, GCC and the Qatar dispute. It uses 22 sources in MLA format.

Both Saudi Arabia and Bahrain are members of the Gulf Cooperation Council along with Qatar, UAE, Kuwait and Oman. Under the GCC Agreement, preferential tariffs apply among the member states. Since independence in 1971, Bahrain has essentially pursued a liberal trade and investment policy, and has integrated its economy closely with those of other countries in the region, through the Unified Economic Agreement of the Gulf Cooperation Council (GCC).

Trade and economic growth in Bahrain is strongly affected by variations in international energy prices. Real GDP growth, as a result, was slower during the 1990s compared with the previous decade, averaging around 3.6% annually since 1994.…… [Read More]

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Economic and Social Impact of Labor Unions in Western Pennsylvania

Words: 3466 Length: 10 Pages Document Type: Term Paper Paper #: 41380217

history of unions in Western Pennsylvania is strong and rich. Factors including locality and population growth made western Pennsylvania, more specifically Pittsburgh, an ideal place for various industries. Sullivan (1955) asserts that Pennsylvania was ideal because it possessed many natural resources. The state possessed wooded mountains and fertile valleys. In addition, the state provided access to huge deposits of coal and iron ore. Sullivan (1955) the author also explains that the landscape was ideal because of the two waterways, the Delaware and Chesapeake Bay, which provided access to world markets for Pennsylvania's various natural products (Sullivan 1955).

'This richly-endowed colony with its heterogeneous population was destined to assume a commanding position among the English settlements in North America. Throughout the eighteenth century, its commerce and industries held a preeminent position in British America, and Philadelphia, its capital, was unquestionably the cultural and intellectual center of the thirteen English colonies (Sullivan…… [Read More]

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Economic Social South Pacific

Words: 628 Length: 2 Pages Document Type: Essay Paper #: 18287980

Region that I have chosen is the South Pacific, or more broadly Oceania. If we exclude Australia and New Zealand, the two highly developed economies, this region is characterized by island nations, mostly small, with tiny economies. Many such islands are independent nations, while others are colonies (i.e. French Polynesia, Cook Islands, Guam). Most nations within this region have ties to larger economies, either the U.S., New Zealand or Australia, regardless of their political status.

For the most part, these regions are politically stable. The Pacific islands are, in many cases, subject to many political issues. At the global level, these nations are among the most vulnerable to climate change. Rising sea levels are an existential threat to countries like Tuvalu, which is almost entirely at sea level (Allen, 2004). Thus, many of these island nations have become the leading spokespeople for action on climate change, increasing their profile in…… [Read More]

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Economic Development in Latin America 1880-1930

Words: 473 Length: 2 Pages Document Type: Reaction Paper Paper #: 77267355

Latin American Economy

Between years 1880 and 1930 the Latin American nations had an unprecedented amount of growth. Throughout Latin America, nations were increasing their revenue which led to stronger economies and consequently much stronger political structures and governmental support as well. This was largely due to the development of communication and the influence of American interests throughout the region. The increased levels of communication allowed more individuals to exchange products as well as ideas. With this, there was a larger groups of potential consumers for products and services, meaning a dramatic increase in revenues collected.

What are the basic characteristics of economic development in Latin America between 1880 and 1930?

Many Latin American nations utilize agriculture to support their economy. When lines of trade became more widely-spread, these agricultural products were able to be exported to Europe and to the United States of America as well. All the economic…… [Read More]

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Economic Indicators

Words: 334 Length: 1 Pages Document Type: Term Paper Paper #: 51107508

Housing Starts

This leading economic indicator tracks how many new single-family homes or buildings were constructed throughout the month. For the survey each house and each single apartment are counted as one housing start, (a building with 200 apartments would be counted as 200 housing starts). The figures include all private and publicly owned units, with the only exception being mobile homes, which are not counted.

The housing industry accounts for about 25% of investment spending and 5% of the overall economy. Sustained declines in housing starts slow the economy and can push it into a recession. Likewise, increases in housing activity triggers economic growth.

Building permit data is released at the same time as housing starts. Permit activity provides insight into housing and overall economic activity. It is so important that it is included in the index of leading economic indicators.

Housing activity is directly impacted by mortgage rates.…… [Read More]

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Growth of a Nation

Words: 645 Length: 2 Pages Document Type: Essay Paper #: 73185245

War of 1812, the nation settled into a sense of smugness that would be known as the Era of Good Feelings. The Era of Good Feelings was a term coined by a Boston-area newspaper in 1817, during newly elected President James Monroe's fifteen-state tour (Miller Center, n.d.). In its post-war intoxication, America would overlook some of its most pressing problems during the Era of Good Feelings. Monroe capitalized on the public's perception that all was well in the United States. Even more important for the strength of the Monroe presidency was the fact that the President's party became the only viable one after the demise of the Federalists. This meant that Monroe felt well empowered as president during the Era of Good feelings, which lasted until about 1825. Whether the period between the end of the War of 1812 and the Monroe Doctrine elicited "good feelings" depended largely on one's…… [Read More]

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Economic Development Humanitarian Goals for Yemen in 2017

Words: 721 Length: 2 Pages Document Type: Research Paper Paper #: 47586843

Economic, Developmental and Humanitarian Priorities in Yemen
Yemen is a country that has experienced a period of prevalent destabilization, particularly since September 2014. The recent civil war has had tremendous negative impacts on the wider Yemeni population since it has undermined the effective operations of the country’s governance systems and functions. The violence from the recent widespread destabilization has generated devastating effects on Yemeni’s developmental progress, economic growth, social integration, and generated a major humanitarian situation. The international community has been on high alert as the situation in Yemen continues to worsen. As a result, rebuilding or developing Yemen has become a major priority, especially in the context of humanitarian, economic, and developmental aspects.
One of the key areas in developing Yemen is security given that the recent crisis has contributed to poor security conditions and vicious fighting that result in a severe humanitarian problem. As of 2017, one of…… [Read More]

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Growth of Nanotechnology Industry in the UK

Words: 2569 Length: 7 Pages Document Type: Research Paper Paper #: 38294674

Nanotechnology

New technology has been considered by governments, business leaders, industry stakeholders, and the educational sector as the key towards promoting and ensuring economic growth, especially in relation to the manufacturing sector. Some of the major technologies that have emerged in the recent past include nanotechnology and biotechnology. Nanotechnology is considered a major technology for growth because it provides an important opportunity to deal with global challenges. According to The British Standards Institution (BSI), nanotechnology is the development, characterization, production and utilization of systems, structures and devices through directing the size and shape in the nanoscale (Materials UK, 2010). Since its adoption in the United Kingdom (UK), nanotechnology has continued to evolve towards promoting economic growth. Consequently, there are some implications of the growth of the nanotechnology sector in the United Kingdom.

Background of the Nanotechnology Sector in the UK

The adoption of nanotechnology in the UK can be traced…… [Read More]

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Economics in Trading

Words: 643 Length: 2 Pages Document Type: Essay Paper #: 20221190

Economies of scale comes up when a good or service can be produced on a large scale while at the same time there is no decrease in the input on average. This implies that as a company grows at the same time the production units increase a company has a better chance of decreasing its costs. This theory suggests that there can only be economic growth upon realization of economies of scale. A simpler meaning of economies of scale is doing things in a more efficient manner with increasing the speed or size of an operation. They often come about with fixed capital which is brought down per production unit while the design capacity goes up.

Economies of scale are quite practical concept that can be used to give an explanation to world phenomena. Economies of scale hence exist within transport industry. For instance when transport modes are unbundled legally,…… [Read More]

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GCC Economic Outlook 2014

Words: 3797 Length: 12 Pages Document Type: Essay Paper #: 62867023

Economic Integration of GCC Countries: Developments Since

Economic Integration of GCC Countries: Latest Developments Since 2010

It is important to examine the Gulf Cooperation Council (GCC) Key Economic Indicators. Primarily, 2014 Key economic indicators will present statistical information, which will seek to foster economic determination and engineer the determination of current and future performances. A collective economic indicator examines aggregate earning reports, list of economic summaries relating to this region and as well as, reflecting on various macroeconomic indices. This report will prove that the GCC (2014) economic indicators are collective in answering aggregate macroeconomic challenges. This study is a collective possible research leading to the construction of key economic indicators (2014) analysis as adopted by GCC partners. GCC economies have been growing tremendously in the past ten years. This study focuses solely on some of the serious economic developments and polices evident in the region in the past four…… [Read More]

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Job Creation and Other Economic Myths

Words: 2931 Length: 10 Pages Document Type: Term Paper Paper #: 87329206

Economics

There is a belief, common to economists, that government intervention is necessary to assist economic growth. The current belief that the reason that the economy is faltering is that job growth has faltered, has not altered this perception, even though it probably should have. Recently both the Bush and Obama administrations have tried many different means of stimulating the economy (much as Franklin Delano Roosevelt did during the "Great Depression"), and these means have had varying levels if success. However, despite some small amount of relief and a stronger stock market, job growth remains stagnant and the economy slugs along with it. The efforts of the current administration toward job growth and creation, whether that be in State of the Union speeches or actually policies, have not produced the desired effects. Why is this? Could it be that the Keynesian methods of economic growth and job production are faulty?…… [Read More]

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Is Economic Globalization a Positive Trend

Words: 4499 Length: 15 Pages Document Type: Term Paper Paper #: 94829752

Economic Globalization

a positive trend?

In order to fully understand the complexities of economic globalization, one must first sufficiently define the term in regards to how it is viewed in today's world. Thomas L. Friedman defines globalization as a system or a paradigm, "an approximate set of rules by which to conduct life," yet he also points out that globalization itself presently serves as a replacement for the old system begun and fostered during the Cold War which came to a close when the Soviet Union collapsed in 1991 (Sjursen, 3).

However, others have countered that globalization is defined by trends related to third-world countries that economically become stable as a result of re-defining their old national standards. For example, Juan Enriquez argues that the global trade market "allows a small region to break its dependency on a larger nation state," whereby "protection is no longer necessary," with the result…… [Read More]

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Steps of economic growth in USA China and Germany

Words: 1047 Length: 3 Pages Document Type: Essay Paper #: 87624457

A fundamental economic concept of global commerce is, that in a marketplace with reduced hindrances towards the global movement of goods, nations can find it lucrative to focus on the creation of products that have a relative benefit in manufacturing (Wolak, 2011). This paper offers an evaluation of economic development methods and both, relative and absolute, benefit in global trade as it pertains to the USA, China as well as Germany.

USA

By having a great quantity of low-priced work crews compared to the United States, it is no wonder that China as well as other developing nations, around the world, focus on the creation of labor-intensive items. For equivalent motives, the US may focus on the creation of products which are not only human but also physical-capital intensive due to the comparative wealth of a highly-knowledgeable work force and technically advanced products within the US. This particular split of…… [Read More]

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State of the US Economy Economics

Words: 2662 Length: 8 Pages Document Type: Research Paper Paper #: 54473618

Economics: The State of the U.S. Economy

Cousin Edgar, a global investor, is seeking to capitalize on the thriving gasoline industry and the rising world demand for oil by purchasing several gas stations in the U.S. market. Inspiring his interest is the high price of gasoline, which he reckons will rise even higher in the near future, thanks to the urbanization and industrialization currently being witnessed in the developing economies of Asia. Furthermore, the turmoil facing some of the world's largest oil- producers has spurred fears of supply disruptions, and, consequently, opened up growth avenues for smaller producers such as the U.S.

Cousin Edgar reckons that he will need financial reinforcement, which will most likely not be much of a problem, given that the ongoing recovery efforts have managed to stimulate loan growth to reasonable levels that are essentially near the pre-recession index. However, economic weakness still remains evident, and…… [Read More]

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Difference in Economic Power

Words: 1872 Length: 6 Pages Document Type: Essay Paper #: 90438224

Economic inequality refers to the situation whereby wealth, assets or wealth are not distributed equally among individuals within a group, among some groups within a population or even among countries. Economic inequality is also described as income inequality, gap between the rich and poor, wealth and income differences and inequitable distribution of wealth. This issue of economic inequality can imply various notions such as equality of outcome, equality and the equality of opportunities. There exist differing opinions on the importance of economic inequality and the impact it has. There are some studies which have put emphasis on inequality as being a social problem. Whereas some inequality might promote investment, when it is too much inequality can end up being destructive. Though income inequality hinders long-term growth, it can also help long-term growth. Economic inequality differs between different societies, historical periods, and the existing economic systems and structures. This paper will…… [Read More]

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History and Economics

Words: 3647 Length: 13 Pages Document Type: Term Paper Paper #: 92004936

Economic Development of China and Korea

China and Korea, not exactly highly developed countries, but carry a mystique about them that intrigues everyone in the United States. Two countries, on the verge of emerging into their full economic potential, is at the present time, attracting plenty of media attention. Was their economic bankruptcy influenced by the attack on America? The purpose of this essay is to discuss and compare the differences and similarities of the two countries, including education, culture, religion, traditions, way of living and history, and emphasizing the economic development of these two fascinating countries.

Korea had its beginning, about two thousand years ago, when two nations were in a battle, creating a small independent population area, which we now know it today as the nation, Korea. Korea actually evolved spontaneously, with no planning or organization. Although Korea developed it's own identity and uniqueness, it is the envy…… [Read More]

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Tourism and Its Economic Impact

Words: 687 Length: 2 Pages Document Type: Essay Paper #: 96240732

Economic Effects of Tourism

There are a number of economic effects of tourism. Most obvious is the significant direct economic effect. Tourists spend money on hotels, restaurants, tourist attractions, shopping, and bars. This is money that typically comes from outside the economy, and thus provides a direct and immediate boost to the area's GDP. There are many benefits of this. First, it provides revenue for local businesses. This revenue translates into jobs for all businesses. For locally-owned businesses, it also provides profits for the owners, which can be re-invested. For example, a successful restaurant can take its profits and open a second location, thereby doubling its positive impact on the community and the wealth of the owners.

Jobs created of course contribute in many ways to the economy. Workers buy homes, cars, they spend their money in the community in other ways. They raise families, and their children often stay…… [Read More]

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Economic Globalization Has the 2008 Financial Meltdown

Words: 2832 Length: 11 Pages Document Type: Essay Paper #: 9572312

Economic Globalization

Has the 2008 financial meltdown in the U.S. And the ongoing economic crisis in Europe have practically ended the era of economic globalization?

Following the financial crisis that marred the U.S. economy along with other global economies as well as the ongoing Eurozone debt crisis, there have been projected concerns that this predicament would end economic globalization. The purpose of this paper is to assess this claim. Going by Immanuel Wallenstein's World Systems Theory, the political economy of Third World economies and developed economies of the West are mutually dependent. Wallenstein's conjecture is that the growth and expansion of Third World economies relies on constant interaction with Western developed economies seeing as the world is characterized by a structural division of labor where the developing nations of the Third World provide cheap labor and raw materials while the developed economies are the holders of capital and controllers of…… [Read More]

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Economic Analysis The International Trade Market International

Words: 1291 Length: 4 Pages Document Type: Essay Paper #: 55999124

Economic Analysis: The International Trade Market

International trade plays an historically large role in the growth and prosperity of countries around the globe. Similar to the benefits that open trade within a country brings to that country's respective economy, trade on the international front improves the global market economy significantly. Trade generates competition, promotes the transfer and utilization of new technology and allows countries, customers, and businesses alike to access to the world's best products. Trade in the international market brings about the capacity for innovation, high productivity and rising incomes and economic standings for each country that chooses to engage in it. However, certain strategies, regulations and methods must be employed within the international market to ensure success and smooth operations in each respective country that becomes involved in world trade.

Governmental Role in International Trade

The government plays a very specific role in the field of international trade…… [Read More]

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Economic Status

Words: 1228 Length: 4 Pages Document Type: Essay Paper #: 57848674

Economic Report Card

The nature of the economic world is in constant flux and changes, requiring the student of the subject to be aware of the many patterns and tendencies that are contained within any economic or market system. The purpose of this essay is to examine and compare the current economic situation of today to that of five years ago. This essay will explore the monetary and fiscal policies of the United States since 2009. This essay will explain how different indicators within the economy have the potential to paint different stories and ideas about the true health of the economy. This essay will argue that each component discussed must be held within the context of the larger economic picture in order for it to be totally understood and then implemented into a policy that may help correct or take advantage of that trend.

The Last 5 Years

It…… [Read More]

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Economic Impacts of Regulation Is a Written

Words: 1536 Length: 5 Pages Document Type: Essay Paper #: 85221461

Economic Impacts of Regulation

Regulation is a written instrument that contains rules with the force of law (Ogus, 2004). Regulation as a process involves monitoring and enforcing rules, established through primary or delegated legislation. Regulation usually creates, constrains or limits a right. In addition, regulation creates and limits a duty besides allocating responsibilities (Ogus, 2004). Regulation may take several forms depending on its application. These includes legal restrictions made by the government, contractual obligations, which binds several parties together, self-regulations by industries, third party regulation, co-regulation, market regulation, certification and accreditation

Regulation made by a state tries to produce outcomes that might not occur (Ogus, 2004). In addition, it attempts to prevent or produce outcomes in various places to what might occur. Through this, regulation becomes an implementation object of policy statements. Examples of regulation include controls on prices, market entries, wages, pollution effects, employment of particular people within certain…… [Read More]

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Economics When the U S Economy

Words: 2364 Length: 7 Pages Document Type: Term Paper Paper #: 40953227



The Canadian government seeks to have a positive balance of payments with the United States. This is, in effect, a wealth transfer. Tracking the balance of payments vs. The exchange rate, we can see the impact of exchange rate shifts on the BOP. The Canadian balance of payments in 2004, when the exchange rate ranged from 1.17 to 1.37, was $29.8 billion. In 2008, when the exchange rate was between 0.97 and 1.29, the balance of payments was $8.1 billion. Tracked against the forex chart, the trend holds for the interim years as well -- when the Canadian dollar is strong, the balance of payments shrinks. This reflects the reduced competitiveness of Canadian goods in the U.S. market when the Canadian dollar's value is high. It also reflects the increased value of U.S. imports. In the U.S.-Canada trade relationship, however, there is an offset, which is oil. Increased strength in…… [Read More]

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Economics Application of Concepts an Analysis of

Words: 1362 Length: 4 Pages Document Type: Essay Paper #: 98592752

Economics: Application of Concepts

An Analysis of the Economic Situation in the U.S.

In the last five years, we have seen the U.S. economy expand but at a pace that is seen as being relatively moderate. In conducting an analysis of the current economic situation in the U.S., I will largely limit myself to inflation, interest rates, and unemployment.

Although the current economic situation is better than it was five years ago, there are signs of uncertainty that continue to suppress economic activity. This is more so the case taking into consideration the prevailing unemployment rates. For the most part of year 2008, the unemployment rate was stuck between 5% and 6% (Bureau of Labor Statistics, 2013). As at January this year, the nation's unemployment rate stood at 7.9% (Bureau of Labor Statistics, 2013). This is an indication that in comparison to five years ago, the total unemployed labor force…… [Read More]

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Economic Principles and Purchasing a House Economics

Words: 1978 Length: 6 Pages Document Type: Essay Paper #: 53557360

Economic Principles and Purchasing a House

Economics Principles and Purchasing a House

This essay discusses principles of economics as they apply to making decisions about purchasing a home. The essay also reviews the decision making process and how it is affected by marginal benefits and marginal costs. The health of the economy and also international trade are factors to think about too, along with looking at conditions which could have lead to making a different decision.

Supply and Demand

Buying a home is one of the single most important economic decisions that most people make. Because it is such a big decision, it is important to look at all the right considerations. The way to do this is to understand how economic principles apply. One principle that affected my decision was the law of supply and demand.

The number of homes available for sale is influenced by supply and demand.…… [Read More]

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Economics Economy Has Recently Emerged From Recession

Words: 1016 Length: 3 Pages Document Type: Essay Paper #: 96253570

Economics

economy has recently emerged from recession. During 2009, real GDP declined 2.6%, the largest drop during the study period beginning in 2009. This came following flatlined GDP in 2008. The only similar instance on record was in the early 1980s when GDP declined 0.3% in 1980, rebounded slightly and then declined again in 1982 by 1.9% (BEA, 2011). The most recent recession was, because there was no rebound in the middle and because it was deeper in intensity, the most serious decline in economic output in the last thirty years. Whereas the recovery post-1982 was strong (4.5% growth in '83 and 7.2% growth in '84) this has not been the case now (2.9% growth in 2010 and forecasts for 2011 are not much better). The unemployment situation at present roughly mirrors that of the early 1980s recession. During that recession, unemployment moved to 9.7% in 1982 and 9.6% in…… [Read More]