Economic Issues Real and Nominal Variables

Economic Issues Real and Nominal Variables In Economics, there is a difference between Real and Nominal variables. In general, a real variable is the one where the effects of inflation on the economy are factored. Contrary, a nominal variable is the variable where the impacts of inflation do not take care of the. Gross Domestic is defined as the value of all goods and services produced in a country (Borland, 2010).Advertising We will write a custom essay sample on Economic Issues: Real and Nominal Variables specifically for you for only $16.05 $11/page Learn More The Nominal Gross Domestic Product is a concept that is used to measure the value of all goods and services produced in a country in current terms/prices. It is used to measure the value of services and goods per a definite period of time, while, as opposed to this, Real Gross Domestic Products concept is used to evaluate these issues, it is shown in prices of a base year. For example, suppose in the year 1999 the economy of China produced $200 billions worth of goods and services based on the year 1999 (Kym 2010).Thus, the year 1999 is used as a foundation at the same time, the nominal and real are the same (Kym 2010). Then, Year 1999 Nominal GDP=$200B,Real GDP=$200. In the year 2000, the nominal GDP=$210B and Real GDP=$205B.Thus, Nominal GDP Growth Rate is 10% where as Real GDP growth rate is 5%. Hence, the difference between the two concepts is used to measure the rate of inflation in statistical terms. These statistical terms are referred to as the GDP deflators (Maddison 2005). Hence, from this analysis, Real Gross Domestic Product is the best measure of economic growth because it estimates the cost in terms of production, and this is what the economy needs. RGDP can not result into both higher prices and higher outputs. Thus, real gross domestic product is the best measure of economic situation and not the best measure of the living standards. This is because it does not provide any room for black market econom y or profitability gained in a result of illegal goods; secondly, it does not measure aspects of well being, such as happiness for example. Furthermore, it ignores the gap between the poor and the rich in terms of resource distributions. In addition, RGDP omits efforts put into household productions, for example, work done by house wives. Moreover, our leisure time is not valued in real domestic product. Finally, it Country 1999 2000 2002 2003 2004 2005 2006 2007 2008 2009 2010 China 7 8 8 8 9.1 9.1 10.2 11.9 9 9.1 10.3 does not take into account environmental destructions such as pollution caused during production (Eastman 2008). Below is an excel sheet for RGDP for China.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This illustration is a representation of China RGDP as Compared to Australia for ten years as adjusted for inflation. This data has been retrieved from Ch ina Economy watch statistics. The above business diagram explains the business climate of China. The real gross domestic product for china was high in the last year which is 2010.In a similar understanding, the business climate was low in the year 1999 and 2000.This is represented by the trough in economic recession. The economy and business climate was at peak in the year 2010 with a growth of 10.3%.Note that this information has been extracted from Australia economy watch 2009. Country 1999 2000 2002 2003 2004 2005 2006 2007 2008 2009 2010 Australia 4.3 4.7 3.6 3 3.5 2.7 2.7 4.3 2.3 1.2 2.7 NB.economy watch.com The illustration below represents business cycle diagram for Australia. The diagram highlights the year 2000 as the peak of the economy and the year 2006 as the tough economic times of severe recession of the continental economy and business climate. NB.economy watch.comAdvertising We will write a custom essay sample on Economic Issues: Real and Nominal V ariables specifically for you for only $16.05 $11/page Learn More The use of the Philips theory is the most suitable to explain the economy of China for ten consecutive years since 2001 to 2010, as illustrated in the below diagrams. In the year 2000, the rate of inflation was high, and hence there was little or no employment. Philips theory explains that the high rate of inflation results into lack of employment (Borland 2010). Hence, from the diagram, it is apparent that inflation has led China to low rate of employment as a consequence of inflation (Fairbank 2010). Thus, in conclusion, inflation leads to unemployment and this retards economic growth and development. References Borland, J (2010), Unemployment in Reshaping Australias Economy: Growth and with Equity and Sustainable Development, Cambridge: Cambridge University Press Eastman, E. (2008), Family, fields, and ancestors: constancy and change in Chinas social and economic history, New York: Cambridge Uni versity press Fairbank, J (2010), East Asia: The Modern Transformation, London: University of England Kym, A, (2010), Australia in the International Economy: In Reshaping Australias Economy, Growth with Equity and Sustainability, Cambridge: Cambridge University PressAdvertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Maddison, A, (2005), The World Economy: Historical Statistics, Paris: OECD

Use of Transitive and Intransitive Verbs

Use of Transitive and Intransitive Verbs Transitive and intransitive verbs often cause confusion. Heres a guide to help you understand the differences.   Transitive Verbs Transitive Verbs take direct objects. The vast majority of verbs in English are transitive. Examples: I took my books to class.We played chess last night. Notice that transitive verbs always take objects. You will always be able to ask a question beginning with What or Whom. Examples: I paid the bill last week. - What did you pay?She studies Russian. - What does she study? Intransitive Verbs Intransitive verbs do not take direct objects. Examples: Peters situation improved.They slept peacefully. You can recognize that a verb is intransitive because it does not have a passive form. Examples: Jack sits in the corner when he reads. NOT The corner is sat when Jack reads.Peter arrived early. NOT Early was arrived Peter. Transitive AND Intransitive Some verbs with multiple meanings are transitive or intransitive depending on their usage. The verb run is a good example. When used in the sense of physical exercise, run is intransitive. Helen ran every weekend when she was at college. BUT Run used in the sense of managing a company is transitive. Jennifer runs TMX Inc.

Trade Impasse at WTO Essay Example | Topics and Well Written Essays - 750 words

Trade Impasse at WTO - Essay Example This impasse represented a marked shift in the global trade scenario in the sense that it not only impinged upon the world community to reconsider the cherished concepts like free trade and protectionism, but also extended a unique perspective pertaining to these concepts, harbored exclusively by the developing nations. This dilemma was further accentuated by the fact that while India and China managed to forge a unique alliance in the name of food security, the developed world stood divided against itself, with the European and American negotiators resorting to obstinacy and mutual recriminations (Bradsher 1). The thing to be kept in mind is that Economics is an applied discipline and free trade and protection are merely the tools exploited by the individual nations in particular and the world community in general to solicit their respective objectives. A thorough economic analysis of this situation definitely needs to take into cognizance the political compulsions of the respective states. In the given scenario, China has to defend its primarily rural agrarian sector, its industrial growth being exclusively an urban phenomenon. The US on the other side is averse to enervating its influential farm lobby in the election year (Bradsher 1). The Manmohan Singh led coalition government in India is running its last lap with immanent elections gaping ahead and does not afford to disturb its vote rich farming sector. Hence a credible way out calls for a win win compromise, which is based on sound economic principles and the pressing needs of the nations involved.The economic indicators that deser ve immediate attention are that both the India and China are at present the victims of inflationary trends, with the inflation in India crossing the double digit mark in the last quarter of 2008. China and India are resorting to protection going by the logic that this will encourage their farming sector, without considerably raising the prices of the agricultural products in their domestic markets. By doing so, they have failed to understand the intricacies of their respective economies that are now irretrievably bound to the global economy.The fact is that an imposition of high tariffs on the American agricultural products is eventually bound to increase the prices of the farm produce in both India and China. Such improvised prohibition on the entrance of the foreign agricultural products in the domestic markets of India and China will certainly increase the prices of the similar commodities in these countries. Especially in India, where the farmers do not enjoy a direct and unobst ructed access to the markets and the trade in the agricultural commodities is mainly governed by the commission agents. Once these vested interests come to know that the domestic markets are exclusively left at their mercy, they will certainly not hesitate in artificially elevating the prices of the farm produce by resorting to hoarding and black marketing. The farming sector in China and India is not so resilient at present that an exorbitant tariff on the American agricultural products would directly translate into an enhanced internal competition, resulting in the lowering of domestic prices.One peculiar thing about the food products is that there exists a thin line between the finished product and the raw

Taxation essay Example | Topics and Well Written Essays - 1750 words

Taxation - Essay Example For example, government can come to a decision to impose lofty tax on illegal business to assist discourage the investors from venturing into the enterprises. Further, tax treatment plays an imperative role in determining to which scope the scheme appreciates inter-personal differences in lifetime proceeds. Thus, the procedure of taxation influences the conduct of small enterprises and allotment of resources to outsized firms. In relation to this, vigilant blueprint of savings and taxation leads to equalization of tax load in taxpayers with identical lifetime incomes (Blank 2004, 26). Relating to household saving, populaces save when the sum of money they desire to consume is dissimilar from the income they obtain. For example, some people may find expenditure smoothing hard to attain particularly if they have little returns. Therefore, decisions made by people relies less on long-term philosophy and more on aspiration for immediate indulgence. Finally, populaces save less when they earn smaller amounts yet have high needs. Additionally, due to poor rationality, there is a driving power to the government to build up savings, pensions, and public insurance. Regarding above, taxation consequently directly affects the wellbeing of people predominantly during the periods of joblessness or sequestration. Thus, in order to a faultless tax system, the government should rely broadly upon concepts like tax neutrality in order to structure its assessment (Diamond 2005, 99). This paper provides characteristics that will be able to identify a good tax system for an open economy and particularly suggest how the United Kingdom tax system should be reformed with the aim of making it ideal. The Mirrlee review was as a result of research that was carried by Sir James Mirrlee and his associates with the aim of analyzing and coming up with a

Criminology Essays Crime, Punishment, and Life in Prison

Criminology Essays Crime, Punishment, and Life in Prison Crime, Punishment, and Life in Prison Definitions of prison: A place confinement of persons in lawful detention, especially persons convicted of crimes A place or condition of confinement or forcible restraint A state of imprisonment or captivity Get help with your essay from our expert essay writers Why do many people end up in a prison cell? There is no straight answer to this question. There are many reasons why there are so many prisoners in the world today, and to each crime there is a motive. This could be drug related, money related, gang related, marital breakdown or even from a person that has suffered mental and physical abuse in the past. The only person that knows why a crime is committed is the criminal him/her self. As much as we try to understand how a criminals mind works, we can never be sure, but mostly relates to violence, as Michel Foucault says: All human behavior is scheduled and programmed through rationality. There is a logic of institutions and in behavior and in political relations. In even the most violent ones there is a rationality. What is most dangerous in violence is its rationality. Of course violence itself is terrible. But the deepest root of violence and its permanence come out of the form of the rationality we use. The idea had been that if we live in the world of reason, we can get rid of violence. This is quite wrong. Between violence and rationality there is no incompatibility. He tries to explain that even though there is so much violence in world today, it can be removed. Example of how a criminal is infiltrated to be put behind bars An example of a motive would be the Mafia. Their motives to kill are to earn respect, to control areas, to become a major force in the world, and to own as much as they can. An example of how mafia are in prison is of Joseph Pistone AKA Donnie Brasco. Joseph Pistone was an undercover FBI agent that infiltrated the Mafia, which led to over 200 indictments and over 100 convictions. It also meant that even though his mission was over, Joe Pistone never again became Joe Pistone due to the $500,000 price tag that the inmates had put on his life(taken from the novel my life in the Mafia). Even behind bars, the Mafia inmates still have a powerful impact on society. There are many other organisations which have members behind bars that still manage to operate with the outside world. As money talks, this could have something to do with Police either being bribed, or too afraid for their lives. Our views on life in prison and injustice The way that society view life in prison is influenced through movies and through reality TV shows e.g. programmes on reality TV and bravo. Movies only show the viewer what they want to see. Many movies about prison have no care to show the viewer how prison is really like. For example The movie Mean machine. The movie shows that the life of a prisoner is not even punishment. Yes they are being watched everyday, but its shows that they have the liberty to do whatever they please. In some ways it does portray the life of criminal gangs i.e. Mafia. Triads etc, but it does not meant that every inmate lives like this. In some cases, the legal system really lets the victims down. An example of this would be the death of Jamie Bulger. 2 year old Jamie Bulger was kidnapped at a shopping mall by Robert Thompson and Jon Venables, both aged 10. they brutally murdered him. Even thought they were children, their sentencing was not a fair hearing. In prison, they have used around 2 million pounds of taxpayers money, enjoying the luxuries that many people cannot afford. They have had their names changed, education paid for etc. If this is the life of a criminal then that could be a reason there are so many prisoners- an easy life behind bars. Many prisoners do show some compassion. For example a paedophile or child killer does not usually get any sympathy from inmates. For example, Ian Huntley was too afraid to leave his cell due to the threats made to him about his crime. this led to attempted suicide. A prisoner longs for the things that he/she had on the outside, and sometimes the only way to achieve this is by joining a prison organisation and doing the things that change their lives. Quote by Eldridge cleaver â€Å"â€Å"In prison, those things withheld from and denied to the prisoner become precisely what he wants most of all.† There are many prisoners that write an autobiography of life in prison to tell the society today how prison life is and is it really as cool as the movies make it out to be e.g. Stanley ‘Tookie’ Williams. Has the way that prisoners live their lives today behind bars made them less fearful of officials, causing many to carry on with crimes? I believe that a prisoner’s life has changed due to technology and due to the fact that they do not live like prisoners any more. 24 Surveillance means that prisoners are being watched throughout the day, but when a camera is not on them, anything happens. A prisoner only needs a few seconds to commit a crime, and most never get caught due to surveillance on other prisoners or distractions. This is mainly due to gang warfare, mainly between different races. In prison, gang leaders demand respect and will usually stop at nothing to get it. An example of Gang warfare would be the 6 major prison gangs that are nationally recognised in the USA: Neta-Puerto Rican/American/Hispanic gang Aryan Brotherhood- Caucasian gang Black Guerrilla Family- Black gang Mexican Mafia- Latin/Hispanic La Nuestra Familia- Mexican/American Texas Syndicate- Mexican American These gangs cause chaos among prisons in America. It is mainly race against race. An example of this is the breakout that happened on 14th February 2006, where a race riot broke out in a California prison involving more than 400 hundred inmates, with around 20,000 continuing in prisons around the country. These riots were controlled by a Mexican gang leader who ordered an attack on blacks. This shows what an impact one man can have on hundreds. It also shows that even though modern technology is being used, there is still a way around it. 1 inmate died and many hundred injured. However saying this, there is evidences which show that at least one gang leader had seen the error of his ways. This would be Stanley ‘Tookie’ Williams. He was the Co-founder of the Crips gang La, and realised after 16 years on death row that prison life is no life. He set out to make youth understand what kind of life that crime leads up to and wrote a book about it called ‘Life in Prison’ which tells us of how he lives his life behind bars. His work to end gang warfare within youth earned him a Nobel peace prize. ‘My greatest hope is that the lessons the stories offer will help you make better choices than I did.’ These are words he uses to warn youth not to follow in his footsteps. He wrote numerous letters to youth, explaining to them not to turn their lives to crime but to, â€Å"Learn about computer technology, politics and the sciences.† He also made an apology to the youth of the United States and Africa for what the creating the gang saying that he was no longer â€Å"dys-educated (disease educated). I was his mission to warn and deter youth away from crime, and it earned him nominations for the Nobel peace prize, as well as a motion picture which was made about his life. Unfortunately, and against much protest, he was sadly executed by lethal injection in 2005. It shows that even though a man can influence so many lives for the good, he will always pay for his past. How is technology used by/for Criminals? Due to modern day technology, many criminals are using this technology to their advantage to commit sophisticated crimes. A technology related crime today would be the credit card scam; chat rooms, or receiving person’s details through the internet. The internet is a one of the most ways that crimes are committed. These are through chartrooms- where many paedophiles lure youth through lies and deceit, pornography, hacking into another’s computer and offensive emails to name some. A lot of work goes into protecting underage youth from being seduced in a chartroom by a paedophile. No matter how much can be tried, the problem never goes away due to the rapid development and progression of technology today. We are shown about prison life through movies, documentaries, and websites. These influence our lives on what prison life is really like, and that’s how close we will get to that unless we become criminals ourselves. Due to the modern day technology, a prisoner can be monitored 24 hours a day through surveillance. This makes it easier for the guards. It does however invades an inmates privacy, but to maintain order and any corruption, this has to be done. Many released prisoners have computer chips or electronic tags on them so that they are monitored and located all the time. I believe that this is a very good system, as it does not show leniency to those that have escaped prison, but no the punishment. I believe that through the ages and due to economic changes and technology, prison life has become too easy. Today, a prisoner is given too much leniency. The reason being is that while inside many prisoners would like to change their lives around, but many also use it as an advantage to live a life of luxury. I believe that this is wrong as there are so many honest people in the world that cannot afford to live the life that prisoners can afford to in the modern day which could be a reason why criminals believe that prison is not necessarily a terrible place it used to be. Bibliography www.crimelibrary.com The biography of Eldridge Cleaver www.tookie.com Redemption- Motion picture Michael Foucault- truth is the future www.cnn.com

Literature Review of Selection Methods

Application forms Application forms are one of the most common selection and assessment methods in practice, used almost as much as the CV; most particularly in the public and voluntary sectors (Zibarras and Woods, 2010). Shackleton and Newell (1994) found that out of seventy-three British organisations they surveyed, 93. 2% of them used application forms. Zibarras and Woods (2010) found in a survey they conducted that the use of application forms by organisations were highest in either micro-organisations or very large organisations.The possible reasons for this could be that a very large organisation may receive a lot of applications therefore application forms may be used as a tool to refine the best applicants. In micro organisations the use of an application form could be to find out specific information about an applicant or to see whether they could cope working within such a small organisation. Another point that Zibarras and Woods (2010) recognize is that application forms a long with structured interviews can be defined as standardized selection methods.This could be interpreted as having a higher validity as in an application form an organisation can identify what they want to know about the applicant and then base the questions or the relevant information that is required, and add these into the application form. They also identify that application forms are more ‘legally defensible’. Application forms could be considered more formal, there are guidelines and everything is easy to monitor and pitted against a selection method such as a CV where the applicant has freedom to include what they want the employers to know.Management exercises Management or group exercises are an assessment method typically used within an assessment center. Blume, Dreher and Baldwin (2010) found that management and group exercises were able to assess the critical thinking and the oral communication of an applicant. However, they also found that these exercises like many other of the assessment center tasks involve high communication from the applicant and therefore may be deemed as stressful to some candidates.They go on to identify the importance of show off other skills like organisation and planning when effective oral communication is being assessed. Sackett and Dreher (1982) that when doing any group exercise at an assessment centre the most common skills that are presented through the exercise are leadership, initiative, planning and organisation, problem analysis and decision making, with scores ranging from . 67 and to . 79, the highest with either leadership or initiative.Also from this study, some key behaviours for a manager to possess are not tested very well using this assessment method, these include responsiveness; only scoring . 46, sensitivity; scoring . 47 and stress tolerance; with a score of . 54. Blume, B. D, Dreher, G. F and Baldwin, T. T. (2010). Examining the effects of communication and apprehension within assess ment centres. Journal of Occupational and Organisational Psychology (2010), 83, 663-671. The British Psychological Society. Sackett, P. R and Dreher. G. F. (1982).Constructs and Assessment Center Dimensions: Some Troubling Empirical Findings. Journal of Applied Psychology 1982, Vol. 67, No. 4, 401-410. Shackleton, V, & Newell, S. (1994). European management selection methods: A comparison of five countries. International Journal of Selection and Assessment, 2(2), 91-102 Zibarras, L. D and Woods, S. A (2010). A survey of UK selection practices across different organisztion sizes and industry sectors. Journal of Occupational and Organisational Psychology 2010, 83, 499-511. The British Psychological Society

The New Fuss About Dui Essay Topics

The New Fuss About Dui Essay Topics The New Fuss About Dui Essay Topics No matter in which you drive in the nation, drunk driving penalties for you are harsher than they are for the remainder of us! In the event the general public becomes properly educated about the significance of intoxication, they are going to have the ability to produce an appropriate option when it is time to decide whether to drive home. If you want sunrises and sunsets, there isn't anything you can do in order to lessen the sum of time between them. If you're honest with your lawyer in the very first meeting and expect exactly the same from him in return, then you are going to not need to handle any issues at the conclusion of the day. In a few nations, second DUI results in execution. The statistics are proof that there's a major issue in the United States of america with DUI's and that some things have to change drastically. In fact, many law enforcement agencies all around the world believe the ass ociation between the increase amount of roadblocks and the decrease amount of drunk drivers, and they've set up more DUI checkpoints on the street in the previous few decades. Group topics are made to stimulate the contemplative and action phases of change. Well, you need to ensure the simple fact your lawyer has the crucial expertise in the condition of arrest. Most attorneys will advise you to stay quiet and don't face the prosecutors all on your own. Even though these strategies taken by other researches contain merit, they fail to regard the simple fact that only a small part of drunk drivers can be seen by policemen daily. Because nearly all DUI stops happen to individuals who don't feel that they've become drunk, an individual who chooses to drive does not even look at the fine which he may receive, regardless of the amount. Some believe that if they go into the military, they ought to be permitted to drink. Setting more DUI checkpoints cannot only arrest drivers but in addition deter people. The best method to avoid obtaining a DUI is to prevent drinking and driving entirely. It's possible for you to kill someone in a car crash. At times drinking may appear harmless, but it's especially when one is likely to operate vehicles. In many states, the vehicle does not really must be moving, and a man or woman sitting behind the wheel of a vehicle, whether the engine is operating, can be convicted of driving or operating the vehicle. Dui Essay Topics - Overview On the flip side, a couple individuals feel that a reduce drinking age would help stop young drinking. To summarize, it's clear that drunk driving is an important problem which exists in the world these days, the exact causes many tragedies for many men and women in various places. A whole lot of times, drunk driving victims aren't the ones who've been drinking. Drinking is an individual's individual habit so long as it's not affecting others around him. A DUI is virtually an instan taneous method to lose your capability to drive a business vehicle. The fundamental thrust of the drunk-driving laws is they are supposed to reduce operation of a.. It won't be a poor concept to develop an initial draft. The checkpoints serve as an investment in the protection of the community, and if they're managed properly and consistently, they are sometimes beneficial to a community from a financial aspect and a security aspect. If you are going to make an argumentative essay on drunk driving, then the very first thing you will need is a stance which you will take on the paper. After taking every one of these steps, it's important that you not forget that the ultimate mark of a fantastic essay is in writing. The reason you have to mention the guideline given by the lawyer in your essay is so the customer can trust his lawyer without an issue. To receive all the legalities concerning this essay topic, you should consult experts in law. Most people today get enthusiastic regarding the very first session with the attorney. What they prefer is that they want the lawyer to reduce jail time. For example, they are oblivious to how they should hire the best DUI lawyer. There are several professional lawyers who can let you get out of this trouble. If you're in Los Angeles, then it won't be hard for you to find a reliable Los Angeles DUI Attorney. At the exact same time, it's also necessary that you need to be eager to answer all the questions your attorney may ask you. You must be honest so the attorney will be able to help you in the best way possible. Your attorney may also ask you in case you have any pending judgment. The Fight Against Dui Essay Topics The main reason is there are basically only two key things you should write about in your problem and solution essay, making it so much simpler to research info and structure the paper. Since you can see, a number of the topics listed are new and handle the present issues happening in the World today. Now that you've selected your subject, you can proceed to learning the issue and solution essay format and structure. When picking your topic, select the one you're passionate about. Before writing an essay on drinking you will need to study the topic and gather enou gh info. A drinking essay will function as a fantastic guide for many based on its content. Your drinking essay needs to be right for your audience. A drinking age essay could have a look at the way the legal age for drinking was revised over time and the significance of a legal age limit.