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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wealth of a country‚ it is necessary to have a way to measure the size of an economy such as Gross Domestic Product (GDP). Economists usually measure the size of an economy by the amount of stuff it produces. This makes sense in a lot of ways‚ mainly because an economy’s output in a given period of time is equal to the economy’s income‚ and the economy’s level of income is one of the main determinants of its standard of living and societal welfare. GDP is the most closely watched economic statistic because
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Keomorokod‚ Im Meng and Chuop Vichet INFLATION Course Title: Fundamentals of Economics Professor: Meng Channarith April 09‚ 2013 CONTENTS Acknowledgement .....................................................................................................................ii Introduction .............................................................................................................................. iii Chapter One: Nature of inflation ....................................
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Control of Dot Matrix and 7-Segment MDA-8086 Kit – PPI Application Birzeit University Information Technology Faculty Computer Systems Engineering Department Abstract This experiment aims at understanding and testing the dot matrix structure‚ and the principle of display using the 82C55 Programmable Peripheral Interface devices. The MDA 8086 subsystem will be used to control the display of patterns‚ digits‚ and characters. The display elements are: - An 8x8 LEDs dot matrix - A single 7-segment display
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GDP and GNP as economic indicators Gross Domestic Product (GDP) and Gross National Product (GNP) are key figures in accessing the status of a country’s economy. These numbers are also used to gauge the competency of the administration in steering the economic wheels of the country. By definition: Gross Domestic Product (GDP) is the total market value of a country’s output. It is the market value of all final goods and services produced within a given period of time by factors of production within
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GDP should really stand for Grossly Deceptive Product” The Economist What does GDP actually measure? When discussing about the economy of one country‚ people often talk about “Gross Domestic Product (GDP). However‚ there are a number of disagreements among economist about the value of GDP. Therefore‚ this essay will discuss whether or not GDP is an ideal measurement of the development of a nation. It first explores the term GDP and ways to measure it. The essay then compares GDP with Gross National
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Q: Identify the alternative performance (operating) measures presented in the statement of comprehensive income and document your conclusion with regard to the appropriateness of the various performance measures. IAS 1 paragraph 82 states that the statement of comprehensive income shall include specific line items for the period. Paragraph 85 states that an entity shall present additional line items‚ heading and subtotals in the statement of comprehensive income… Paragraph 88 states that an entity
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Chapter 7 Measuring a nation’s income The economy’s income and expenditure GDP measures two things at once: the total income of everyone in the economy and the total expenditure on the economy’s output of goods and services. GDP can perform the trick of measuring both total expenditure because these two things are really nearly the same. For an economy as a whole‚ generally‚ income must equal expenditure This is true because: An economy’s income is the same as its expenditure because every
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Distinguish between microeconomics and macroeconomics • Identify the broad macroeconomic policy objectives of governments • Define the terms inflation‚ deflation and disinflation • Explain the calculation of the CPI • Examine the accuracy of the CPI as a measure of inflation • Discuss the causes and effects of inflation • Explain the policies for controlling inflation Micro and Macro Economics • Microeconomics is the branch of economics that concerns itself with the study and behaviour of consumers and
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Unit 6 - Inflation & Economic Growth Inflation As prices for goods and services that we consume increase‚ inflation is the result. The inflation rate is used to measure the rate of change in the overall price level of goods and services that we typically consume. While inflation is a regular annual occurrence in modern economic systems‚ it only becomes a policy concern when reaching unacceptably high levels. As we shall see‚ many modern economic policymakers have developed a short fuse for
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