November 20, 2012
The Employment Situation in September- October 5, 2012
This article explains the unemployment rates and tax increases going on in America with Obama being president. It states that our economy has been increasing since the devastating Great Depression in the 1920s.
Back in October the Bureau of Labor Statistics (BLS) shows that private sector establishments added 104,000 jobs last month. Meaning overall employment rose by 114,000. Creating perfect competition. Perfect competition is an industry structure in which there are many firms, each small relative to the industry, producing identical products and in which no firm is large enough to have any control over prices. In perfectly competitive industries, new competitors can freely enter and exit the market. This means there is hope for new companies arising from citizens in America wanting to start their own business. Which is what America is all about. Now Obama wants to cut the taxes for small business owners and such. This brings great opportunities to small business owners; it is hard enough to have to worry about the fixed cost, variable cost, and total cost when starting a business. It is hard to be an entrepreneur but with Obama's help hopefully it'll be easier and go far.
Fixed cost is any cost that does not depend on the firms' level of output. Variable cost is a cost that depends on the level of production chosen. Total cost is the total fixed costs plus total variable costs.
Obama also wants to cut down the taxes for middle class families. This he says will prevent families from having to have a $2,200 tax increase for next year. In my opinion this country's economy is bound to go down the hill. It may sound really negative but by the way things are going for example the United States helping their "allied" countries out in difficult times yet having a war of their own toward terrorism just makes me think of...
Please join StudyMode to read the full document