2) Based on reading the chapter and our lecture discussions, you should be able to identify an “error” in Figure 11.2 (page 247). Explain what the error is and re-draw the graph to fix it(just roughly to demonstrate the point). 3) The Labour Force Survey (LFS) conducted by the Australian Bureau of Statistics (ABS) counts someone who works as little as one hour per week as “employed”. What are the implications of this for the accuracy of the calculated rate of unemployment? The LFS limits the accuracy of the calculation of the unemployment rate because it results in the issue of “underemployment” or “underutilisation” meaning that people are able and willing to work more hours, however are unable to do so due to the lack of demand from firms for workers to work additional hours.
Because unemployment has straight effect on government spending, that new policies for taxes, reliefs and acts for job creation are set up. Firstly, Canon figures out the unemployment people’s living actuality, that purchasing power is decreasing, shortage of capital has impacts on the gross domestic product
Question number one asks if the participant has lost employment because of the economic downturn. This question provides nominal data allowing the participants to be split into two categories. Question number two asks the participant how long his or her unemployment period lasted. This question provides ordinal data allowing participants to be categorized by the length of their unemployment and provides the difference in the degree of unemployment. Question number three asks the participant to provide his or her plans for continuing education due to the downturn in the economy and unemployment.
One thing we can be sure of is that a business cycle affects different sectors of our community in different ways. Gross domestic product is a great measure of an economies growth. The chair of the Federal Reserve uses information gathered from GDP to assist with making necessary adjustments to keep a balance between inflation and unemployment.
D2: ‘Evaluate how future changes in economic, political, legal and social factors may impact upon the strategy of a specified organisation’ In the future, many aspects will change within the UK which may impact upon the strategy of an organisation such as Tesco PLC. In order for Tesco PLC to survive this demanding economy, they will have to adapt to the future changes in economic, political, legal and social factors, so that they (as a business) will be able to survive. Economic Quite recently, within the last 10 years, the UK has suffered from a major recession which caused an immense amount of disturbance to the general well-being of the economy and the majority of the population within the UK. Every business (providing either goods or services) was severely affected by this, especially Tesco PLC as they are a global organisation who has branches in America as they have also been hit with an upsetting recession therefore Tesco PLC have collectively decided to exit the American market (See Appendix 33). In order to avoid making a further loss, if another recession was to occur again in the future, I would suggest that a reduction in employees would be beneficial for the business.
A recent economic downturn has seriously affected the auto industry and your company, as well. Your company has merged with two other brake component companies in an effort to gain production efficiencies and lower unit costs. You are the lead HR person for the new entity. Based on your analysis of the three previous executive compensation approaches, you have decided with board approval to redesign the executive compensation for the new combined organization. Describe the components of an executive compensation plan.
Labour returned to power in March 1974. The Conservatives, led by Edward Heath, had been in office since 1970. Heath's government had faced many difficulties, including large-scale strikes, and at the time of the election being called, Britain was on a three day working week in order to save electricity. Heath dubbed the 1974 general election, "Who governs Britain?". He claimed it was time for the electorate to decide who runs the country, the democratically elected government or the trade unions?
Answer: D Diff: 1 Topic: Definition of Economics 3) Which of the following is a microeconomic topic? A) the reasons why a consumer buys less honey B) the reasons why the average price level in a country falls C) the cause of increasing unemployment D) the effect of the government budget deficit on inflation E) the reasons why the labour force in a country decreases Answer: A Diff: 1 Topic: Definition of Economics 4) The study of how wages are set for New Brunswick teachers is classified as A) a macroeconomic topic. B) a microeconomic topic. C) economics of social interest. D) economics of private interest.
For instance, the New Left and New Right, which began to form in the 1970s, often focused on the economy when analysing state welfare and what's more, at this very moment the debate over state welfare and benefits is intense due to the current economical climate. This abovementioned “divided society” refers to the differences in class,
To do this, we will look at trends in income distribution and whether there are any correlating trends in growth or poverty, until we have cross examined all three factors with each other and found how any relationships could be formed. By looking for any stable relationships between the three, we will determine what is the most important in regards to developing economies. To introduce the relationships, here are some definitions of the key factors. Income distribution is a measure of the degree of inequality of a country; growth is an increase in the capacity of an economy to produce goods and services, compared from one period to another; and poverty is the inability for people to attain a minimum