Whitney Armstrong Econ 2301 May 7‚ 2011 1973 Stagflation In 1973 the president was Nixon and OPEC had only been around about 13 years. Now the demand for oil in the US was increasing steady with the demand for cars increasing and central heating and air conditioning becoming more popular. In October the Middle East became uproar and wars began to break out. Soon after OPEC announced a change in the oil prices that
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made it such a remarkable year in history. 1975 was a year that had a remarkable impact on the world by forever changing it in the aspects of technological advancements‚ music publications‚ and shaping the acceptable culture of society in today’s world. The year 1975 brought the beginning of a new era. The technology industry began to takeoff in ‘75 as many major computer/software companies were breaking technological barriers everyday. For one example in 1975 the notorious company Microsoft was established
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Impact of Recession on IT industry in India Author : Dr. Kotkar S.N. Abstract A recession is a contraction phase of the business cycle. The effect of recession is on all sectors but the main effect is on IT industry. In that mainly related to lob loss and unemployment. There are also some remedies on recession which helps to become a stable in the market. This paper presents the reasons of recession‚ impact of recession on IT industry in India and remedies on recession. Keywords: recession‚ Job
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Recession One of the most commonly used term nowadays is “recession”. We read about it in newspapers an year ago‚ then heard about it in television 3-4 months back and now we are getting a feel of what exactly it is. Recession is not a new phenomenon‚ it last happened in America during 2002-2003 and many times before that also. But what makes this recession so fearsome is its magnitude and the countries which are being affected by it. What started out as a bursting of housing bubble soon crippled
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India during the ’great recession’ India during the ‘Great Recession’ Introduction: Economists called the financial crisis of the 2007 - 2009 as the “Great Recession”‚ since it is a critical factor and vital cause for the failure of many businesses and significant influencer that has worsened many economies. After US busted out the housing bubble‚ this raised the rates of sub-prime and mortgage rates. India‚ the country which is fully an export driven economy like many other countries‚ the GDP
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In economics‚ a recession is a business cycle contraction‚ a general slowdown in economic activity. Macroeconomic indicators such as GDP‚ employment‚ investment spending‚ capacity utilization‚ household income‚ business profits‚ and inflation fall‚ while bankruptcies and the unemployment rate rise. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). This may be triggered by various events‚ such as a financial crisis‚ an external trade shock‚ an adverse supply
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Many U.S. companies are reporting better-than-expected earnings for the most recent fiscal quarter‚ but once again the profits generally stem from anything but an economic turnaround. Cost-cutting‚ restructuring‚ improved technology‚ focused product lines‚ low interest rates‚ cheap raw materials - steps taken to combat the slow economy of the past two years are paying off for many companies. "They are adjusting to a period of lower growth‚" said Wayne Stevens‚ president of Duff & Phelps Investment
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The end of the Revolutionary War brought about many changes in America. The abandonment of the colonizers by the British government left them with many new dilemmas. They had to basically start new societies from scratch. They had to figure out what type of governing system they would have‚ and what kind of society they would become. According to the information presented in historical documents about Wethersfield‚ Connecticut‚ as well as my own outside knowledge‚ American society became more
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ARTICLE XV General Provisions Section 1. The flag of the Philippines shall be red‚ white‚ and blue‚ with a sun and three stars‚ as consecrated and honored by the people and recognized by law. Section 2. The Interim National Assembly may by law adopt a new name for the country‚ a national anthem‚ and a national seal‚ which shall all be truly reflective and symbolic of ideas‚ history‚ and traditions of the people. Thereafter the national name‚ anthem‚ and seal so adopted shall not be subject
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The 1973 Oil Crisis By Sarah Horton In October of 1973 Middle-eastern OPEC nations stopped exports to the US and other western nations. They meant to punish the western nations that supported Israel‚ their foe‚ in the Yom Kippur War‚ but they also realized the strong influence that they had on the world through oil. One of the many results of the embargo was higher oil prices all throughout the western world‚ particularly in America. The embargo forced
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