Economic Growth and Poverty Gap Essay

The efficiency of the U.S. economy is affected by productivity. According to Miller, “if everything else remains constant, improvements in labor productivity ultimately lead to economic growth and higher living standards” (192). The subject of labor productivity and costs interests me because of how changes in labor productivity affect the overall economy. The U.S. Bureau of Labor Statistics attributes advances in productivity – the ability to produce more with the same or less output to…

Chile, as one of the most significant countries in South America, has been known for its extreme geographic diversity. As one of the narrowest nations around the world, Chile extends from a latitude of 17 degree south to Cape Horn at 56 degree between Andes and the Pacific Ocean. (Smith, 1904). The country extends more than 4,000 km from north to south while only around 170 km from east to west. According to the data, around 80% of the country’s interior land is covered by mountains, with the…

several changes that taking place in the United States economy in the 1990s. The country began to move out of the recession. The economy began in growing slowly. The economy continued in improving until 2001. Also, President Clinton established an economic plan. That plan helped in reducing interest rate and inflation. Also, it helped in the decreasing of the deficit and increasing trade. All of these things led to encouraging businesses investment. So, the effects for that business investment…

shares borders with ten other South American country and covers almost half the continent. Brazil has a primarily tropical climate and is rich in natural resources. As a BRICS country, Brazil is one of the worlds emerging economic powers and contributors to global growth(CIAworldfactbook). Brazil accounts for almost…

While the immigration rates were falling, emigration rates were rising. Both of these challenges were due to a financial crisis that Iceland was subsisting with that began in 2008, and continued on until 2011. Anyhow, after the resolution of the economic crisis, immigration rates began to increase again. As of the beginning of 2017, immigrants in Iceland accounted for 10.6% of the population. Though it was only for a period of time, immigration rates were not the only rates beginning to fall in…

companies are beginning to set their sights on Africa for new business because of the improved political environments. Africa now is above average GDP growth rates and there is promise of more natural resources in a continent where everything still needs to be developed. Most of their growth has come from natural resources such as gas and oil. But growth has been slow to the economy. Doing business in the Sub-Saharan regions will still take time to development. There are still challenges that…

commercial goods. This is something which various individuals such as environmental activist David Suzuki, (Suzuki et al, 2007) mentioning the rise of a consumerism worldview. Other fellow thinkers like, Victor mentions how the unprecedented economic growth leads to rapid changes in benefits and costs with respect to the environment or in general the planet. (Victor, 2010) This thought of a consumerism worldview in my personnel opinion is something that is already present in our society today,…

“A completely new configuration would be at stake” (p. 127). New, bigger and stronger conglomerate required economic reforms and many economists of 1990s were…

In The Stages of Economic Growth: A Non-Communist Manifesto (1960), Walt Whitman Rostow inspires terminology that still sticks in our minds after 55 years. In his work, Rostow uses the terms “underdeveloped” and “developed” to explain the stages of economic development that all countries need to go through. In Rostow’s time, he observes that the United States, Western Europe, and Japan were exemplar nations which have passed the test of development and maturation. According to Rostow, countries…

Macroeconomics is the growth of the GDP, for that reason it quantifies production— market value of final goods and services sold in a country during a specific time frame. As a result, the key drivers of GDP in the long run are consumers, government, business, and financial organization’s spending. Wealth growth has influence on the U.S. economy, lower interest, lowers cost and effects aggregate demand. This shocks effects wealth growth, interest and exchange rates. As a result, the overall…