that Gross Domestic Product (GDP) is an inadequate measure of societal well-being and should be replaced by the Human Development Index (HDI). Do you agree with them? Essay: One of the most controversial economic issues today is the role of Gross Domestic Product (GDP) and Human Development Index (HDI) in a country’s economy. There is a question about a particular aspect of the macro economy and societal well-being: Some people believe that Gross Domestic Product (GDP) is an inadequate measure
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The articles are talking about Inflation and the effects of it on the GDP of the United States compared to China. The first article is called “Catching the Eagle”. In December 2010‚ the Economist introduced a chart that made prediction of when China’s economy will overtake America’s economy. When the chart was first introduced in 2010‚ the Economist included a set of default assumptions for the decade ahead. They assumed that growth would average 7.75% in China over the subsequent ten years and 2
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A Surplus of Violence Leads to Destruction Sometimes violence can be a positive thing in a culture derived on strength and aggression‚ but at what point will that violence cause a man to unravel and lead to his destruction? In the novel Things Fall Apart written by Chinua Achebe‚ the characters live in a culture that is based around the strength of a man as the “head of the household”‚ and the honor a man can bring his family with a certain degree of aggression and violence. The protagonist Okonkwo
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INTRODUCTION This report examines the increasing trends in the amount of debt students are graduating with. The purpose of this report is to prove why these trends need to be stopped‚ and how they can be stopped. After viewing the statistics from 1993 to the present it will be obvious that student debt is not rising at a steady pace‚ but that its growth is leading to large financial burdens by many students. Recommendations are given about the actions that can be taken by not only students
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individual to a point where issues of self-esteem and morality become secondary. In a sociocultural study on factors fuelling the spread of HIV/AIDS in Lesotho conducted in 1998‚ prostitutes interviewed stated that whereas a clerk earns SAR 500 (US$ 70) per month‚ they can earn that much in a weekend (Otti PN‚ Rasekoai M. Factors influencing the spread of HIV/AIDS in Lesotho‚ 1998). Most developing countries are still busy with awareness campaigns to convince
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Theory of Surplus Value and Cycles of the Capitalist Production Process In Karl Marx’s‚ “The Theory of Surplus Value” is a reinforcement that illustrates the exploitation of laborers in a capitalist society. Although his theory is just an expansion of David Ricardo “Labor Theory of Value”‚ it is a contribution that simplifies the meaning of use value‚ exchange value and value. Surplus value is‚ in essence‚ the money form of social product excess or‚ just as same‚ the money produced by surplus labor
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Causes of a Trade Deficit. – 10 Marks The balance of trade (or net exports) is the difference between the monetary value of exports and imports in an economy over a certain period of time. If a country is importing more than exporting‚ this is known as a trade deficit. The deficit equals the value of goods being imported minus the value of goods being exported‚ and it is given in the currency of the country in question. For example‚ assume that the United Kingdom imports 800 billion British
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India’s Fiscal Deficit and related issues: * India’s fiscal deficit is 5.2 % of India’s GDP. * Reduction in government expenditure allowed central banks to loosen monetary policy and effectively stimulate private investment and consumption. * Challenges in fiscal deficit- the existing fiscal deficit leaves no space for extra govt. spending on areas of social priority. It reduces the growth of human and physical capital. * It reduce the private sector’s ability to obtain bank financing
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Lang Tiffany Post 29 October 2013 Media Bias And Its Effect On Us: Should We Be Concerned? The existence of media and its prevalence in our every day lives has become increasingly common and‚ as a result‚ is something about which Americans should be concerned. Countless studies have been conducted in order to determine the effects of media bias on the formations of one’s opinions and values on a variety of topics. Most of these studies have displayed a correlation between the views of news providers
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1. Why do economists use real GDP rather than nominal GDP to gauge economic well-being? Real GDP is the production of goods and services valued at constant prices. Nominal GDP is the production of goods and services valued at current prices. Real GDP rather than nominal GDP to gauge economic well-being because real GDP is not affected by changes in prices‚ so it reflects only changes in the amounts being produced. If nominal GDP rises‚ you do not know if that is because of increased production or
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