...Economic Impact Analyses analyze the economic effects of a particular project in a particular area. This analysis can cover a region as small as a neighborhood and as large as the world. The main variables analyzed include revenue, profits, wages, and jobs. They consider the direct impact the economic impact has on an area as well as indirect impacts. For instance, you can analyze the total number of employees a firm will hire if it builds a new factory. You can also analyze what this increase in employment will do to other non-related industries in the area. These newly employed workers will have more money to spend at a local store which will in turn create more profits and potentially more jobs. It typically analyzes activity before the project and after the compare the changes and the impact of the project. This is typically done by measuring the difference in economic activity assuming the economic event occurs and then assuming it does not occur. This is called the counterfactual case. An economic event can be defined as a new business moving into a region, a new policy or government program, or any other activity that produces some sort of profit. This is useful to determine if a particular project is worth investing in (Southwestern Oklahoma State University, 2012) . The main types of impact analysis include output impact, value added impact, labor income impact, and employment impact. There is also a property value impact. An output impact measure the total increase...
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...are several resources available to gather historical economic data as well as to forecast economic data. Six valuable and useful resources are addressed below. These resources are used to identify and evaluate Gross Domestic Product (GDP), Real GDP, Nominal GDP, the unemployment rate, inflation rate, and the interest rate. The Bureau of Economic Analysis The Bureau of Economic Analysis is a comprehensive resource that thoroughly defines the Gross Domestic Product. It explains the history and how it is used as a measurement of a country’s economic health. It explains what the current GDP is and goes into detail to explain and compare the changes in GDP from prior periods and what those changes can mean. The site has links that break the GDP down by individual states to quantify output by state. Additionally, the site provides advance estimates for qualitative forecasting. One link in the website refers to a paper that shows in detail how the GDP is used as a tool for “taking the pulse” of the economy (Bureau of Economic Analysis, 2013). Yahoo Finance Yahoo Finance is a resource that provides quantitative forecasting. There are links from basic to detailed providing current GDP information such as time, price, lows, highs, volumes, and charts for Real GDP. Real Gross Domestic Product is an economic assessment that involves qualifying the inflation adjusted market value of goods and services produced by an economic system during given time. A business may use the real...
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...PAF 3102 Economic analysis Student name: Student ID: Module name: Module code: Module tutor: Due date: Question one Part A Increasing taxes on cigarettes will lead to reduction of smoking among young men, low income earners, and pregnant women. This will lead to a reduction of house hold expenditures such as smoking healthcare costs. However, it is not a guarantee that the numbers of smokers will be reduced by 50%, this means that the city should not expect $90million revenue on tax. Part B NO, a permanent increase of $ 0.40 on a packet of cigarettes will not have any effect on smokers. This is because the economy is growing and with economic growth there is growth on salaries and wages. This means more population will be able to afford the cigarettes and this will lead to increase in demand. As prices decrease the demand increase, in 5years more people will be able to afford the product since the price will not be equivalent to the standard economic growth. Part C This is true, most of the students depend on their families and guardians. This means that if the price of the cigarettes is increased this will loser the demand of the commodity since most of the students will not afford the same commodity for a long period of time. On the other hand if the price lowers then it will increase the demand of the same commodity since it will be affordable. Question two Part A Subsidy products they affect the market by reducing prices in the market. Before introduction...
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...BOFIT Discussion Papers 15 • 2011 John Knight and Wei Wang China's macroeconomic imbalances: Causes and consequences Bank of Finland, BOFIT Institute for Economies in Transition BOFIT Discussion Papers Editor-in-Chief Laura Solanko BOFIT Discussion Papers 15/2011 20.06.2011 John Knight and Wei Wang: China's macroeconomic imbalances: Causes and consequences ISBN 978-952-462-711-5 ISSN 1456-5889 (online) This paper can be downloaded without charge from http://www.bof.fi/bofit. Suomen Pankki Helsinki 2011 BOFIT- Institute for Economies in Transition Bank of Finland BOFIT Discussion Papers 15/ 2011 Contents Abstract ................................................................................................................................ iii Tiivistelmä ........................................................................................................................... iv 1. Introduction ....................................................................................................................... 1 2. China’s macroeconomic imbalances ................................................................................. 2 3. China’s external imbalance ............................................................................................. 14 4. Reviewing the export surplus .......................................................................................... 22 5. The external surplus and foreign exchange reserves .......
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...Economics Analysis: Obamacare One of the hottest topics right now on everyone’s mind is the issue of healthcare and just who’s responsibility is it provide it and who is entitled to receive it. Our system is broken. We have veterans going without proper care, facilities closing, the cost of healthcare rising, and the amount being paid to doctors is rising. Republicans do not feel it is the government’s right to force Americans to have healthcare and Democrats want it available to all and affordable. Christians are seen as conservatives and unwilling to compromise and unwilling to compromise. I questions whether or not people truly understand the meaning of a conservative. The main difference between liberals and conservatives is their attitude towards government. Conservatives begin with 1) the presupposition of the existence of God and, accordingly, believe 2) that man is of spiritual origin and nature and of infinite, eternal value. Additionally, although they draw their inspiration from a variety of intellectual traditions, their view of the institutions includes the view that 3) government should be limited in power (Martin, 2006, pp. 232-233). Our country was founded on biblical principles, but we have strayed away from those. We have become soft and accommodating. So what do Christians think of Obamacare and how we should be taking care of thy neighbor as God commands? The biggest contributors to increasing medical expenses currently are: 1) Government regulation,...
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...Economics Analysis of Saudi Arabia History of Saudi Arabia Saudi Arabia is a member of the Gulf Cooperation Council (GCC) (Bowen, 2008; Fasano and Iqbal, 2003). The country traces its origin back to the early empires of the Arabian Peninsula, which is an ancient trade centre. At present, Saudi Arabia serves a key role in the Islamic world, as it is the birthplace of Islam and the place where Mecca and Medina are located. Thus, the country frequently receives Islamic visitors during the annual Islamic Haj, as it owns the holy city of Mecca. The modern Kingdom of Saudi was established by King Abdulaziz Al-Saud, in 1932, and since then, the Kingdom has grown from a desert nation to a recent, classy state and a chief player on the global stage. Since time immemorial, Saudi Arabia has been an essential stake of the Arab world. Its huge supplies of oil and close links to America guaranteed its place, since the times of the cold war till when a wave of turbulence bust in Tunisia, during the month of January 2011, and touched the entire region. Currently, the ruling family in Saudi is experiencing a different world, anxiously. Early this month, Saudi Arabia pronounced the demise of Prince Nayef bin, who was a dedicated minister in the war against Al Qaeda and who was ignorant to change of democracy. After a few days, Prince Salman replaced him as the Crown Prince. Salman had served as a governor of Riyadh for almost 50 years ahead of his endorsement to the ministerial seat. Saudi...
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...Running head: HOW TO INTRODUCE CHANGE IN YOUR CHURCH How to Introduce Change in your Church Barbara Lockhart Indiana Wesley Seminary LEAD 540 Non-Profit Management Dr. Bob Whitesel Abstract In life a changes are made good one bad one. Sometime it just happen. How effective can church leaders obtain making changes and everybody will be please. Is this possible with church members? I will attempt to give some insight on making change in the church. These changes I will draw your attention to will be for the growth of the church and uplifting of the kingdom work. I know that everybody will not see the change in the present stage but the future will prove itself. One of the first strategy I would using in making changes in the church I would implement a survey with all the volunteer and group leaders, and mistrial staff. Upon receiving their feedback I would do a survey with the congration and the community. In changing you must consider individual difference in age group cultural. I would have a group of brainstorming committee. I would systematically collect fresh idea, look for creativity thinking people to remove themselves from traditional thinking. I decide a survey this week in since this paper is on implement changes. I was at one of the group meeting I belong to. I made a suggest to implement some new teacher for basic training...
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...prevailed: MRSAom = 4 and MRSKom = 3. Keya can offer one orange to Apu for 3 mangoes and 3 mangoes can give her the same satisfaction as before and the exchange make her better off than before, because she has 1 more mango left. This means the initial situation was not Pareto efficient. Answer no. 06 Suppose in the initial resource allocation, MRSAom = 4 and MRTom = 3. Apu can reduce mango production by 3 units and gain 1 unit of orange. He can exchange 1 orange for 3 units of mangoes and can improve his situation because he gains 1 unit of orange in the process. This again implies that the initial allocation was not Pareto efficient. Answer no. 07 We need government intervention even if the First Fundamental Theorem of welfare economics is satisfied because the initial allocation of resources can lead to a point on the grand utility possibility curve, which sustains a very unequal distribution of income and puts the economy on a lower social indifference curve. The government can change the initial allocation of resources such that the distribution of income can be made socially desirable without affecting the Pareto efficiency condition. Answer no. 08 The situation in which price becomes greater than marginal cost, as in a monopoly market, cannot be Pareto efficient because marginal valuation of the consumer for the commodity as expressed by MRS exceeds MRT and in this situation the society’s total welfare can be increased by increasing the production of the commodity...
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...Compare and contrast McDonald's strategies in China with those of Wal-Mart in Mexico? McDonald’s strategies in China: If we look at the McDonald’s strategic plan in China we can find that the company mainly focused on core menu extensions, convenience and value creation. In China McDonald’s is continuously trying to increase its brand value through different range of products. It is trying to attract the Chinese customer by providing their traditional taste and preference in its product in order to pull them from the traditional restaurants within the country. Also offering drive-through restaurants in china is one of the best and convenient strategies of the company that provides a competitive advantage. Wal-Mart Strategy in Mexico: Wal-Mart entered in Mexico through joint venture with the local leading retailers and then acquired that partner completely. This helped the company to capture a large market share with ease. Also providing discount retailing and a building proper infrastructure according to the requirements of Mexican people had made the company favorite in Mexico. So we can say that here both the companies are trying to attract customers by offering desired products without compromising with the traditional Chinese taste in case of McDonald’s and infrastructure and convenience in case of Wal-Mart. McDonald’s entered china directly where as Wal-Mart entered in to Mexico through Joint Venture and acquisitions. What role did the policies of various governments...
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...QUESTION :Explain Individual Demand Schedule and Market Demand Schedule ? ANSWER : Demand schedule is the tabular statement of different quantities of a good bought of different prices of a particular moment of time. Demand schedule exhibits the relationship between the amounts of a commodity at different possible prices. Thus a demand schedule shows two columns namely amount demanded of a commodity and their corresponding prices. Demand schedule shows the functional relationship between price quantity combinations. A man never buys a commodity in different amounts at the same prices. He buys more at fewer prices and less at high price. This fact is revealed by demand schedule. A demand schedule is of two types : Individual demand schedule and market demand schedule :- Individual Demand Schedule:- An individual demand schedule shows deferent quantities of a commodity bought by an individual consumer at different possible prices. The reaction of an individual towards the commodities at their corresponding prices is reflected by an individual demand. Figure above showing Individual Demand Schedule and Curve. Market Demand Schedule:- A market demand schedule is the summation of innumerable individual demand schedules for a definite commodity. Each individual consumer has got his own quantity at a particular going price. Thus we can arrive at market demand schedule by combining different schedule of individuals in the market. An Example of a market demand...
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...Student name: Victoria Pursley Name of author and title of reading: The Relation Between Economic Freedom and Political Freedom Please note: journal entries should be recorded on the supplied form as a Word document and submitted to Turnitin no later than the start time for the corresponding class session. You must answer ALL questions to receive full credit. You may include references to direct quotations, but all answers should be in your own words. In order to help you with class discussion, I would suggest printing out a copy of the journal and bringing it to class. You may also use this printed copy in class for recording additional observations and analysis. 1. Author Background/Context: Who (briefly) is the author & in what historical...
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...investors of a possible first half-year, $91 million loss (Johnston 2012). Application of concepts The recent decision by the BoQ to rise capital funding relates to the economic component of the PEST model. The significant performance fluctuations between last year’s profits as compared to this year’s potential loss, which is approximated to be $91m, can be explained to be consequential of the highly unstable economic environment (Johnston 2012). Factors such as post GFC strains including significant drops in consumer confidence and credit shortages are still prominent in many different sectors of the market (Reuters. 2011). For BoQ in particular, it was it’s adverse exposure to the ‘property market bust in the tourism hot spots’ that unfavourably affected its profitability (Johnston 2012). However, fortunately for the bank institutional investors were able to raise $284 million and pick 92% of the banks entitlements (Johnston 2012). This strong support can be seen as a direct result of the bank’s diverse CSR operations. The bank’s diversification into programs such as carbon pollution reducing activities for the environment and ‘Banking on our kids’ programs to raise money for hospital foundations greatly assist in aligning BoQ’s business sector operations with profound community values (Bank of Queensland). Analysis Increasing a bank’s capital reserve not only allows the company to absolve any underlying debt obligations by increasing...
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...Economic Analysis Exercise I. Discuss how the two cases in this chapter illustrate the major theme of this text: Changes in the macro environment affect individual firms and industries through the microeconomic factors of demand, production, cost, and profitability. Drawing on current business publications, find some updated facts for each case that support this them. Drawing on current business publications and the two cases in this chapter it is prevalent that several changes in the macro environment have had an effect on the profitability of individual firms and industries. The text states that (Farnham, 2010 page 459), downturns in economic activity forced all the fast-food companies to develop new strategies. During this economic downturn McDonald’s was one company in particular that has developed strategies that were influenced by microeconomic changes. A great example is when McDonald’s entered the Chinese market they had to take into consideration consumer taste and acceptance in China. They had to decided whether or not to have the menu in Chinese or English and whether or not to take on the American menu or add more Chinese influenced menu items. Cost also played a part in the China market. Beef was much more expensive and so therefore could only reach a certain percentage of the people. Half of McDonald’s sales in China had been of chicken product with beef only making up 35 percent (Farnham, 2010). II. Compare and contrast McDonald’s strategies in China with...
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...Economic analysis Russia has the 9th largest economy in the world by nominal GDP (2097 billion USD) and the 6th largest by purchasing power parity. Since the end of Soviet Union in the early 90’s, Russia had developed a high-income economy with abundant natural resources, particularly oil and natural gas. The state has strengthen his dominance in the aerospace industry, mining, and oil and gas industries, but the budget remains heavily dependent on exports of natural resources, especially hydrocarbons which represents more than 16% of the national. Russia is also the 6th biggest producer of oil with Gazprom and finally the 2nd largest oil export of the world. As we can see on this map, actually oil and gas is brought from many part of the territory by pipeline and is routed in many countries of Europe and near East. According to the Us Energy Information Administration, in 2011 France imported more than 200 thousands barrels per day, and Germany about 700 hundreds of barrels per day, which represent one third of the German consumption in oil and gas. The independence of much European country into Russian gas and oil is one of the main strength of this new economy, it lead to an positive exchange balance and better and strong relationships as we know, with country like Germany, Netherlands and finally China. It is essential in order to analyze Russian economy, to understand that the labor force is not only based on industry force because this last sector represents 37...
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...Dropbox: Novel Innovation or Economic Genius? A Comprehensive Analysis on Electronic Storage. University of California, Los Angeles Engineering 110, Fall 2012 1 Introduction to the File Sharing Industry and Dropbox In an era in which the large majority of information is stored electronically, companies that specialize in online file sharing and cloud storage services feast upon massive consumer demand for remote data storage. By 2011, many of the largest technology companies had already created storage services: Amazon Cloud Drive by Amazon, iCloud by Apple, and Google Drive by Google. Other companies providing similar consumer and enterprise services include Scribd, Mozy, Box, and Carbonite. However, none of these services could have hoped to mirror the success of Dropbox. Founded by Drew Houston (an MIT computer science graduate) in 2007 as a Y Combinator startup, Dropbox was considered “a late entrant to the fiercely competitive online backup and storage services space.” (Eisenmann et al., 2012, p. 2) Y Combinator, a California LLC that financially seeds promising startups in exchange for a small amount of the company’s equity, provided $15,000 to Dropbox. Houston’s endeavor soon grew at an astonishing rate. As of 2011, according to a Dropbox engineer, the company backed up 1 million files every 15 minutes, much more than what storage services created before could achieve. From the outset, Dropbox has been immensely successful. In fact, Dropbox was so promising that Apple’s Steve ...
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