Macroeconomics Notions

Macroeconomics Notions Supply and Demand Supply and demand are the economic model of determining prices in a competitive market, wherein supply refers to the quantity of commodities available in the market and demand refers to the quantity demanded by consumers. The law of demand states that the higher the costof the good or service, the less people will demand it, while the law of supply states that the higher the price of a commodity, the higher the quantity required (Supply and demand, 2012).Advertising We will write a custom essay sample on Macroeconomics Notions specifically for you for only $16.05 $11/page Learn More Macroeconomic Equilibrium Macroeconomic equilibrium is a condition of a nation’s economy wherein aggregate demand is met by aggregate supply (Macroeconomic equilibrium, 2012). The total demand of a final good or service in the economy is called its aggregate demand, while the total supply of a final goods and services the economy plans to sell is called t he aggregate supply. Significant changes on demand or supply will affect prices, employment, and resources of a nation. How Aggregate Demand and Aggregate Supply Determine Equilibrium Price and Output In The Short- and Long-Run Macroeconomic equilibrium is computed by relating national price level with national output. The market is in equilibrium when price and output are equal. Changes in the price or output of a commodity prompts shifts in its aggregate demand and/or aggregate supply. In general, expansionary policies shift aggregate demand to the right while contracting policies shift it to the left. Looking at the diagram below, when aggregate demand shifts to the right, equilibrium will occur at a higher price level and a higher output in the short-run and at a higher level in the long-run. When aggregate demand shifts to the left, the opposite, will occur. Figure 1. Macroeconomic Equilibrium Shifts in the aggregate supply are usually prompted by shifts in aggregate demand. W hen aggregate supply shifts to the right, aggregate demand dictates that equilibrium will occur at a lower price level and a higher output in the short-run.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More When short-run aggregate supply shifts to the right, aggregate demand dictates that equilibrium will occur at a higher price level and a lower output in the short-run. In the long-run, when aggregate supply shifts to the right, a lower price level and higher output is required for equilibrium. When it shifts to the left, a higher price level and lower output is required. Gross Domestic Product, Unemployment, Inflation Three ways to measure a country’s economy is through its GDP, unemployment rate, and inflation rate. GDP or Gross Domestic Product is the measure of total value of commodities by a country for a specific period (Gross Domestic Product, 2012). Unemployment is the state of a person who is looking for employment but is unable to find or does not have one (Unemployment, 2012). Inflation is the rate of increase of the general level of prices of commodities in a country. As inflation occurs and prices go up, purchasing power of people fall (Inflation, 2012). Business Cycles and Economic Growth Business cycles are series of patterns affected by employment, industrial productivity, and interest rates that show the expansion and contraction of economic activities. There are five stages on a business cycle, namely, growth, peak, recession, trough, and recovery (Business Cycle, 2012). Economic growth is the measure of an economy’s increase of commodity and capacity to accommodate its population within a period of time (Economic Growth, 2012).Productivity, inflation, population growth and introduction of new commodities in the economy are factors of economic growth. Multiplier Concept Multipliersare factors that quantify the changes of capit al investment to total income of an economy. They are used to measure the effects of government spending on income. Multipliers are calculated by dividing the marginal propensity to save to one (Multipliers, 2012). John M. Keynes was made the second father of economics after Adam Smith because of his contribution on multipliers. The limitations of the multiplier concept include its restriction to economies (It is only for closed economies.), its lack of social factors, and its low adaptability to change.Advertising We will write a custom essay sample on Macroeconomics Notions specifically for you for only $16.05 $11/page Learn More Fiscal Policy Fiscal policy is a government policy that deals with the spending activities of the government that influences macroeconomic conditions. These policies are concerned and implemented in taxation, interest rates, transfer payments, and borrowing (Fiscal policy, 2012). Two tools of fiscal policy are the Automatic Stabi lizers, attributes of fiscal policy that smooth instability in consumption over the business cycle, and the Discretionary Fiscal Policy, the conscious manipulation of implementation of taxation, purchases, transfers, and borrowings. An example of this is the Federal Income Tax (Kelly, n.d.). Macroeconomics in Contemporary Economic Issues As previously mentioned, business cycles have five stages, namely, its growth, peak, recession, trough, and recovery. In recent years, however, the flow of the stages in the cycle is unsteady, not following the regular cycle. This is because of the impact of improbable events not forecasted (or were not heard of) by economist. One significant event in recent time is the sharp decline in housing prices, resulting in a recession in the economy. This event in economy happened in 2007. Before the year, housing prices grew rapidly and collapsed by nearly 20 percent over the next two years, due to low interest rates in the 2000s, and lowering lending stan dards. Another macroeconomic event in recent times is the rise of prices of oil and other basic commodities, such as natural gas, steel, corn, wheat, rice, and coal. Oil consumption in the United States lessened in the first half of 2008 (Jones, 2008). This was offset, however, by the oil consumption of China, India, and the Middle East, which resulted in an outward shift in demand. This occurrence created a chain of price increases on basic commodities. Reference List Business cycle.(2012). Investor words. Retrieved from investorwords.com/625/business_cycle.html. Economic growth.(2012). Investopedia. Retrieved from investopedia.com/terms/e/economicgrowth.asp#axzz1lE9rwRPm.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Fiscal policy.(2012). Investopedia. Retrieved from http://business.baylor.edu/tom_kelly/2307ch12.htm. Gross domestic product.(2012). Merriam-webster online. Retrieved from merriam-webster.com/dictionary/gross+domestic+product. Inflation.(2012). Investopedia. Retrieved from investopedia.com/terms/i/inflation.asp#axzz1lE9rwRPm. Jones, C. I. (2008). Current macroeconomic events. W. w. Norton. Retrieved from wwnorton.com/college/econ/chad- update/CurrentEvents2008.pdf. Kelly, T. (n.d.).Chapter 12 fiscal policy. Baylor business. Retrieved from http://business.baylor.edu/tom_kelly/2307ch12.htm. Macroeconomic equilibrium.(2012). Business dictionary. Retrieved from businessdictionary.com/definition/macroeconomic-equilibrium.html. Multipliers.(2012). Investopedia. Retrieved from investopedia.com/terms/m/multiplier.asp#axzz1lE9rwRPm. Supply and demand.(2012). Encyclopà ¦diabritannica. Retrieved from britannica.com/EBchecked/topic/574643/supply-and-demand. Unemployment.(2012). Investopedia. R etrieved from investopedia.com/terms/u/unemployment.asp#axzz1lE9rwRPm.

The History of the Brassiere - Mary Phelps Jacob

The History of the Brassiere - Mary Phelps Jacob The first modern brassiere to receive a patent was the one invented in 1913 by a New York socialite named Mary Phelps Jacob. Jacob had just purchased a sheer evening gown for one of her social events. At the time, the only acceptable undergarment was a corset stiffened with whaleback bones. Jacob found that the whalebones poked out visibly around the plunging neckline and under the sheer fabric. Two silk handkerchiefs and some pink ribbon later, Jacob had designed an alternative to the corset. The corsets reign was starting to topple. An unhealthy and painful device designed to narrow an adult womens waist to 13, 12, 11 and even 10 inches or less, the invention of the corset is attributed to Catherine de Mà ©dicis, wife of King Henri II of France. She enforced a ban on thick waists at court attendances during the 1550s and started over 350 years of whalebones, steel rods and midriff torture. Jacobs new undergarment complimented the new fashion  trends  introduced at the time and demands from friends and family were high for the new brassiere. On November 3, 1914, a U.S. patent for the Backless Brassiere was issued. Caresse Crosby Brassieres Caresse Crosby was the business name Jacob used for her brassiere production line. However, running a business was not enjoyable to Jacob and she soon sold the brassiere patent to the Warner Brothers Corset Company in Bridgeport, Connecticut for $1,500. Warner (the bra-makers, not the movie-makers) made over fifteen million dollars from the bra patent over the next thirty years. Jacob was the first to patent an undergarment named Brassiere derived from the old French word for upper arm. Her patent was for a device that was lightweight, soft and separated the breasts naturally. History of the Brassiere Here are other points in the history of the brassiere worth mentioning: In 1875, manufacturers George Frost and George Phelps patented the Union Under-Flannel, a no bones, no eyelets and no laces or pulleys under-outfit.In 1893, a woman named Marie Tucek patented the breast supporter. The device included separate pockets for the breasts and straps that went over the shoulder, fastened by hook-and-eye closures.In 1889, corset-maker Herminie Cadolle invented the Well-Being or Bien-à ªtre, a bra-like device sold as a health aid. The corsets support for the breasts squeezed up from below. Cadolle changed breast support to the shoulders down.World War I dealt the corset a fatal blow when the U.S. War Industries Board called on women to stop buying corsets in 1917. It freed up some 28,000 tons of metal!In 1928, a Russian immigrant named Ida Rosenthal founded Maidenform. Ida was responsible for grouping women into bust-sized categories (cup sizes). Bali WonderBra The Bali Brassiere Company was founded by Sam and Sara Stein in 1927 and was originally called the FayeMiss Lingerie Company. The companys best-known product has been the WonderBra, marketed as The One And Only WonderBra. Wonderbra is the trade name for an underwired bra with side padding that is designed to uplift and  add  cleavage. Bali launched the WonderBra in the U.S. in 1994. But the first WonderBra was the WonderBra - Push Up Plunge Bra, invented in 1963 by Canadian designer Louise Poirier. According to Wonderbra USA this unique garment, the forerunner of todays Wonderbra push-up bra had 54 design elements that lifted and supported the bust to create dramatic cleavage. Its precision engineering involved three-part cup construction, precision-angled back and underwire cups, removable pads called cookies, gate back  design for support  and rigid straps.

What legal protection is given to archaeological sites in Britain To Essay

What legal protection is given to archaeological sites in Britain To what extent are these measures effective in safeguarding their future - Essay Example ise in order to preserve the heritage of the country because it understands that it is the only evidence of the pre-historic periods that existed and ensures that the legislation to meet these needs are properly carried out. The Ancient Monument Protections Act of 1882 was first imposed by the British parliament as a protective measure for all archaeological sites in Britain. The sites include ancient buildings, monuments, caves etc. The Protection for Military Remains Act of 1986 takes care of vehicles, vessels and other aircraft. The Archaeological Heritage Management also known as the Archaeological Resource Management is instrumental in conserving and managing the ancient archaeological sites of Britain. Their chief focus relates to the preservation, age and the use of the different archaeological resources available to us. In lieu of modern planning and development that poses a threat to the archaeological sites, the Archaeological Source Management Department devise ways and means of mitigating the adverse impact it could have on archaeological sites. In assessing the physical condition of any archaeological site, modern methodology and techniques are used to analyze, monitor and document the exte nt of deterioration and try to find the best means to preserve or conserve these ancient sites. In this essay we will attempt to look at the legislation that governs the conservation of archaeological sites and monuments so that we gain a better understanding of how important such laws are to the cause of preserving them. In Scotland alone, there are about 70,000 monuments and sites that are presently preserved under the Ancient Monuments and Archaeological Areas Act 1979. The Secretary of State for Scotland plays a major role in the planning system. The local authorities are also responsible for the preservation and safeguarding of such archaeological sites and contribute towards the economy by helping with landscaping and other amenities for development of

Success of Russian Multinational Corporations Essay

Success of Russian Multinational Corporations - Essay Example The organisation of the Soviet Union explains why the Russian MNCs adopted the export strategy before the establishment of subsidiaries. The other reason for Russian MNCs choice of internalisation strategy was seeking markets for their products and a gaining a good understanding of the market before committing more resources in the form of purchase of subsidiaries. Russian MNCs had to have a feel of the market in terms of profitability and market conditions through export of products, the success in these goals allowed for further investment in terms of purchase of assets and set up of subsidiaries. The need to reveal shareholder structure and ensure transparency in operations affected the ability of Russian MNCs to set up new subsidiaries early in the internalisation strategy owing to the effects of â€Å"cowboy capitalism† (Filippov, 7). However, a better understanding of the market after exports and success in the market allowed the MNCs to purchase subsidiaries. The other reason for the choice of the above-mentioned internalisation strategy was the need to exploit efficiency through seeking channels for economies of scale in production. Producing locally for a large market and supplying through exports was the initial manner in which the Russian MNCs achieved this goal. Understanding the global market and gaining access to resources in the host countries allowing for cheaper production resulted in the acquisition of assets and the subsequent set up of subsidiaries in these markets.

Prospero’s Abuse of Power in Shakespeares The Tempest Essay examples -

Prospero’s Abuse of Power in The Tempest      Ã‚  Ã‚   In William Shakespeare's The Tempest, Prospero lives with his daughter Miranda on a deserted island.   On the surface, he appears to be a benevolent leader doing his best to protect and care for the inhabitants of the island, especially for Miranda.   On closer inspection, however, Prospero plays God, controlling and creating each individual to fit the mold he desires.   He takes advantage of his authority over the people and situations he encounters while wearing a facade of integrity and compassion to disguise his wily intentions and to retain love and respect.   In Act I of the play, Prospero finally tells Miranda the woeful story of how she and he arrived on the island.   From the beginning, Prospero plays his subjects and his sympathetic audience as pawns in his game of manipulation.   He explains that twelve years ago he was the Duke of Milan, but being enthralled with his studies, he left most of the governmental responsibilities to his brother Antonio.   Antonio, hungry to be "Absolute Milan" himself (1:2, p.6), proceeded to betray him with the help of King Alonso of Naples.   When Miranda asks why they were not killed, Prospero sighs, "Dear, they durst not,/ so dear the love my people bore me" (1:2, p.7).   From the beginning, Prospero portrays himself as a distinguished scholar and beloved leader unjustly victimized by his power-hungry brother.   Who would suspect such a humble man of being psychologically manipulative?   Prospero succeeds in deceiving many with this credible guise. Prospero's control of Miranda is evident throughout The Tempest, even from their first conversation.   He says, "Canst thou remember/ A time before we came unto this cell?/   I do not think th... ...hey have chosen each other, when in fact Prospero orchestrated their falling in love from the outset.   By using reverse psychology to make the couple think he does not approve of Ferdinand, Prospero catalyzes a rebellion against himself with the purpose of bringing the couple together.   In the end, Prospero reveals himself to King Alonso and his men.   He frees Ariel, pardons Caliban, and plans to return to Milan where Miranda and Ferdinand will be married.   Prospero gets everything he wants--his dukedom, a powerful son-in-law, and a return to society. Works Cited and Consulted Corfield, Cosmo. "Why Does Prospero Abjure His 'Rough Magic,'" Shakespeare Quarterly. 36 (1985): 31-4 8. Mowat, Barbara A. "Prospero, Agrippa, and Hocus Pocus," English Literary Renaissance. 11 (1981): 281-3 03. Shakespeare, William.   The Tempest.   Mineloa, NY: Drover, 1999. Prospero’s Abuse of Power in Shakespeare's The Tempest Essay examples - Prospero’s Abuse of Power in The Tempest      Ã‚  Ã‚   In William Shakespeare's The Tempest, Prospero lives with his daughter Miranda on a deserted island.   On the surface, he appears to be a benevolent leader doing his best to protect and care for the inhabitants of the island, especially for Miranda.   On closer inspection, however, Prospero plays God, controlling and creating each individual to fit the mold he desires.   He takes advantage of his authority over the people and situations he encounters while wearing a facade of integrity and compassion to disguise his wily intentions and to retain love and respect.   In Act I of the play, Prospero finally tells Miranda the woeful story of how she and he arrived on the island.   From the beginning, Prospero plays his subjects and his sympathetic audience as pawns in his game of manipulation.   He explains that twelve years ago he was the Duke of Milan, but being enthralled with his studies, he left most of the governmental responsibilities to his brother Antonio.   Antonio, hungry to be "Absolute Milan" himself (1:2, p.6), proceeded to betray him with the help of King Alonso of Naples.   When Miranda asks why they were not killed, Prospero sighs, "Dear, they durst not,/ so dear the love my people bore me" (1:2, p.7).   From the beginning, Prospero portrays himself as a distinguished scholar and beloved leader unjustly victimized by his power-hungry brother.   Who would suspect such a humble man of being psychologically manipulative?   Prospero succeeds in deceiving many with this credible guise. Prospero's control of Miranda is evident throughout The Tempest, even from their first conversation.   He says, "Canst thou remember/ A time before we came unto this cell?/   I do not think th... ...hey have chosen each other, when in fact Prospero orchestrated their falling in love from the outset.   By using reverse psychology to make the couple think he does not approve of Ferdinand, Prospero catalyzes a rebellion against himself with the purpose of bringing the couple together.   In the end, Prospero reveals himself to King Alonso and his men.   He frees Ariel, pardons Caliban, and plans to return to Milan where Miranda and Ferdinand will be married.   Prospero gets everything he wants--his dukedom, a powerful son-in-law, and a return to society. Works Cited and Consulted Corfield, Cosmo. "Why Does Prospero Abjure His 'Rough Magic,'" Shakespeare Quarterly. 36 (1985): 31-4 8. Mowat, Barbara A. "Prospero, Agrippa, and Hocus Pocus," English Literary Renaissance. 11 (1981): 281-3 03. Shakespeare, William.   The Tempest.   Mineloa, NY: Drover, 1999.

Plans After Graduating Essay

My primary purpose of applying for the distance learning program is to further my studies by undertaking a Master’s degree course which is in line with my Bachelor’s degree. As a graduate of sociology I am aware that my expertise is in line with studying society in general and also studying specific aspects of our society. However since this is only a Bachelor’s degree it is imperative for me to pursue further studies and I feel that a more focused degree like MPM can benefit me the more as it has more theories in a specific strata of society. My secondary goal is to assure me of a long-term career in education as I am currently a college instructor in STI College Santa Rosa. It is a prequisite for any budding educator to always pile up on one’s credentials to attain not just the knowledge but also an assurance of better opportunities both in the academic world but also in government agencies as well. Upon completion of said degree I see myself continuing in the academe and also go into research on government policies and possible ways of improving the country’s state in terms of governance. My background in sociological studies is a tool that can help me be effective in research and MPM will enhance my skills and my knowledge in terms of public management. I also plan to take up my PHD inside the next 5 years depending on how long it would take to finish up my master’s degree. I am also looking forward for a possible opportunity to work for my alma mater if not Open University perhaps UPLB either a researcher or a professor. It is also my goal that through the program that I am applying for I could impact the lives of my students by sharing with them what I have learned both from the program and also from whatever research materials are already available. If I would be able to do this, the impact will be tremendous both intellectually and also in the lives of my students. From their ranks are future leaders of this country or perhaps citizens that would help improve the lives of their countrymen their different contributions.

Ethical Decision Making and Behavior - 13474 Words

7 Ethical Decision Making and Behavior As we practice resolving dilemmas we find ethics to be less a goal than a pathway, less a destination than a trip, less an inoculation than a process. —Ethicist Rushworth Kidder WHAT’S AHEAD This chapter surveys the components of ethical behavior—moral sensitivity, moral judgment, moral motivation, and moral character—and introduces systematic approaches to ethical problem solving. We’ll take a look at four decision-making formats: Kidder’s ethical checkpoints, the SAD formula, Nash’s 12 questions, and the case study method. After presenting each approach, I’ll discuss its relative advantages and disadvantages. U nderstanding how we make and follow through on ethical decisions is the first step to†¦show more content†¦A number of factors prevent us from recognizing ethical issues. We may not factor ethical considerations into our typical ways of thinking or mental models.4 We may be reluctant to use moral terminology (values, justice, right, wrong) to describe our decisions because we want to avoid controversy or believe that keeping silent will make us appear strong and capable.5 We may even deceive ourselves into thinking that we are acting morally when we are clearly not, a process called ethical fading. The moral aspects of a decision fade into the background if we use euphemisms to disguise unethical behavior, numb our consciences through repeated misbehavior, blame others, and claim that only we know the â€Å"truth.†6 Fortunately, we can take steps to enhance our ethical sensitivity (and the sensitivity of our fellow leaders and followers) by doing the following: †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Active listening and role playing Imagining other perspectives Stepping back from a situation to determine whether it has moral implications Using moral terminology to discuss problems and issues Avoiding euphemisms Refusing to excuse misbehavior Accepting personal responsibility Practicing humility and openness to other points of view In addition to these steps, we can also increase ethical sensitivity by making an issue more salient. 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