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Descriptive statistics of GDP and median ageThe economists have a growing interest in Social And Political Environment. Moreover, the data given is collected for 125 countries in the year 2000. On the other hand, the regression has been carried out on variables like gdp, urbanization rate, median age of populations and political right index As per the question, descriptive statistics of the gdp and medage has been given as: g...

Description on MaybankBusinesses operate in an environment. Understanding the environment in which the company operates is essential for the success of the organization. The business environment is complex, dynamic and multifaceted in nature and has an enormous impact on the growth and survival of a firm. Usually, an enterprise is confronted by the internal and external environmental factors. Internal environment factors take place within the ...

Measuring GDP and Economic GrowthMeasuring GDP and Economic Growth (a) The value of the produced output at the given market price is: $ [(3,000,000 * 1) + (50,000 * 20) + (20 * 50,000) + (50,000 * 20) + (1 * 1,000,000) + (2 * 50,000)] = $ (3,000,000 + 1,000,000 + 1,000,000 + 1,000,000 + 1,000,000 + 100,000) = $ 7,100,000 = $ 7.1 million (b) Mark’s annual wage at Pizza hut = $15,000. His income from selling pizzas = $5 * 4000 = $20,...

Steps to reduce real GDPIn that case, the real GDP is more than the potential GDP that means the economy is in the boom phase. Now, one of the direct consequences of using the monetary policy is the impact on the output and inflation of the economy as can be justified by the quantity theory of money. Now, in order to keep the GDP at the potential level, The output needs to be reduced, That means, MV=PY where M= Money supply, Velocity of circ...

Questions:Nike Company deals in the production and sale of athletic footwear and clothing. The company has a wide international market due to engagement in global marketing strategies that have created mass awareness. The company faces stiff competition in the market, which requires a quick and appropriate response to the different economic conditions to ensure continued sales. Nike prides in the production of high-quality products that have enh...

Factors contributing to declining wage growthDiscuss about the Monetary Fiscal Policy Interaction & Fiscal Stimulus. IMF has warned that Australia’s target for wage rate growth is weak with its inflation below target range (Jacobs & Rush, 2015). In the past Australia had experienced dynamic economic performance attributed to its mining boom from the year 2000s. Recently the country has not been able to return to full employm...

Objectives of Macroeconomic PoliciesDiscuss about the Evolutionary Macroeconomic Explanation System. Through the implementation of macroeconomic policy framework the government setup broad objectives for the betterment of the entire economy as well as the policy frameworks are used in order to achieve the desired objectives of the government. The macroeconomic objectives which are generally set by the government through the policy frame...

What is Inflation? Question: Discuss about the Sacrifice Ratios and Inflation Targeting. Inflation is defined as the rise in the general level of the prices for the goods and services within a country over a period of time. According to Mankiw (2014), inflation represents the fall in the value of the currency. When the general price level rises, each currency unit purchases fewer amounts of goods and services. Hence, inflation represents a dec...

Overview of the macroeconomic eventsDiscuss about the Macroeconomics for Principles of Economics Influence. Principles of economics influence the market and impact the economy nationally and globally. The main purpose of the assignment is to critically analyze the article titled ‘Singapore productivity growth sluggish: Nomura’ published in October 2015 by Grace Leong. The author in the report presents the overview of a mac...

What is GDP and how is it calculated?Write an essay on Gross Domestic Product. Gross Domestic Product a measure  of the wealth  of a country. It is calculated as  thef final value  goods and services produced in a country . some of the elements calculated  on are  GDP are investment; government expenditure;  consumption by private individuals  and exports less imports.,thus total  GDP= Investme...

Governing principleDescribe about airbags: Momentum and the rate of change of momentum principle is used in several real time applications. Airbag is one such application where the rate of change of momentum and subsequent reduction in impact force-principle is used for the safety of the passenger in automobile cars. Whenever the car is moving at high speeds there exists very high momentum associated with the car body. When a braking fo...

Calculate GDP and GNEQueston 1. a). Suppose the following are national accounting data, for a fictitious country for the year 2013. Calculate GDP and the country's gross national expenditure (GNE) using the expenditure approach. 1 a) GDP Using the Expenditure approach   Amount (billions of dollars) Consumer spending Household consumption expenditures 3120 Government consumption expenditure...

Price Elasticity of Demand Question 1-Define price elasticity of demand. How you will use to define an "inferior good". Give two examples of an inferior good? The price elasticity of demand is one of the economic measures for showing the responsiveness of the changes in demanded quantity as a result of the price change. The price elasticity of demand refers to the responsiveness of the quantity demanded as the price changes when all other facto...