determines how goods and services are to be distributed, it determines how buyers and sellers are to relate by introducing a variety of goods and service, A lot of resources and competition to equalize the existence of economic actors. GDP Gross domestic product (GDP) is the value of finished goods and services produced within a country in a specific time period usually one year. It measure the national overall economy. Calculating GDP GDP = C + G + I + NX…
The Saudi Arabia economy is one of the most robust economies in the world. Saudi Arabia's growth in real domestic product {GDP} came in third after china. The rate of inflation has remained high comparing to other countries. The rate of inflation was 4.17% at an average. The problem of inflation is worse than what people think. When we look at the divisions like living cost, The non-governmental agencies have claimed that the real inflation in the country is much higher than the official rate.…
The American Healthcare System is a jumbled mess of privatization, bureaucracy, corruption, and greed. It’s rare to find an individual of the U.S who is actually a fan of the current system in place, so it gets you wondering why haven’t we changed it yet? Well, the answer is not as straightforward as one might think. In Michael Moore’s 2007 documentary, “Sicko”, Moore attempts to expose the root problems that plague our system, and while I truly do agree with his opinions, I must say out of…
This means the focus in on monetary policies and fiscal policies, seldom does the U.S. over commit to microeconomic policies that concerns the individual consumers. Economic policies strive to raise the level of gross domestic product (GDP) and increase inflation (Greenberg and Page 2007, p. 416). Government’s tools of fiscal and monetary policies are to manage government spending and money supply, which enables the government to manipulate interest rates and tax rates…
There are many countries in the world that represent high or low quality of life. Quality of life means a general well-being or happiness of a person or society, as measured by meeting basic needs. There are many aspects of a country that can be looked at to see if that country has a high or low quality of life. For example, seeing if everyone there is treated the same or people getting treated better than others, also known as equality or inequality. Also, finding information about their…
Empirical data, such as the Gini Index and the Gross Domestic Product (GDP) per capita, demonstrate the income inequality and total output of a country per person, respectively. The more equal a country’s income distribution is within its population, the lower its Gini Index, however the more unequal a country’s…
significant contribution to the global GDP growth, with the country contributing 51.3% of the global growth in nominal GDP (IMF, 2015). The country has adopted macroeconomic policies which have triggered a shrink in the current account surplus, making the domestic consumption to become the most important economic growth driver. The country has adopted policies which have been focusing on not just growth, but quality growth, which not driven by aggressive investment, but also effectiveness of…
government ushered in the era of globalisation in India. After the liberalisation, the economy witnessed a leap of growth in large industries and enterprises, but surprisingly the MSME sector, which contributes six percentage to the Indian Gross Domestic Product (GDP), 45% to total national export and employs around seventy million Indians, is still struggling to find its footing and reach optimum performance. Though MSME total working enterprises, employment and market value of fixed assets…
GDP. This immense transfer of goods and services to foreign nations is a pivotal backbone to both nations’ economies. Economists believe things will change in the future, while populations continue to grow, along with global demand for cheaper products, “India [is] projected to grow more rapidly than China over the next two to three decades…the Indian economy – which will soon boast the world 's largest workforce – is also expected to account for a rising share of global GDP” (Domínguez).…
5 most important economic variables (1) GDP (2) Interest rate (3) Personal income and consumption (4) Debt (5) Inflation 【GDP】The gross domestic product (GDP) is one of the most important indicators to evaluate the condition of a country 's economy. It represents the total dollar value of all goods and services produced over a specific time period; thus the size GDP would also indicate the size of the economy of the country. Normally, GDP is used to compare with the previous quarter or year’s…