Republican vs. Democrat Studies show at the national level there is a difference on spending and taxing between parties, democrats generally spend more, republicans save more. States level party control does not make a significant difference between parties and policy instead policy differences are based on economic difference among the states. Dawson and Robinson in 1963 published a paper, Thomas dye in 1966, Lewis and beck in 1977, and hwang and grey in 91 A study in 1985, by James gerent, focused on spending priorities between 45-68 in American states, showed that no short term impact occurs but it does have a long term effect. Partisanship might have little impact on overall state spending; it does have an impact on specific areas especially those that are redistributable. For example: Welfare More partisan competition you have the broader the appeal for voter support.
As of the April 2011 first quarter reporting, the United States has produced 28.3 mmt, which is up 6.8% from the same period last year [ (Leybovich, 2011) ]. “In a report earlier this month, the Organisation for Economic Cooperation and Development (OECO) forecasts that global demand for steel would increase 6 percent in both 2011 and 2012. Growth over the next few years is expected to be considerably faster in emerging markets than in developed ones [ (Leybovich, 2011) ].” Nucor is the second largest steel producer in the United States, only behind U.S. Steel. Nucor is considered a low-cost steel producer in the U.S. and the most efficient and technologically advanced steel producer in the world [ (Thompson/Strickland/Gamble, 2010) ]. Nucor is North America’s largest recycler, 17 million tons in 2010, and uses the scrap steel as the raw material to produce steel and steel products [ (SEC filings Nucor Corporation Form 10-K, 2011) ].
There was a bill passed by the United State Senate which increased the minimum wage to $7.25 in 2009. Although the minimum wage has increased, a family of three who earn minimum wage would still fall below the federal poverty level. A full time minimum wage earner, based on a 52 week
Yes, Wal-Mart provides many uneducated Americans with job however it isn’t a job from which can make livable wage. Wal-Mart pays all their employees besides management minimum wage. With prices on the rise like they are today it is hard for a person to live off minimum wage which is currently 7 dollars and 25 cents in New York. Not to mention if you have kids it is virtually impossible to live off minimum wage and if you do it’s an unpleasing struggle. Another problem is that there is no growth in your field if you work at Wal-Mart.
However, even with these additional costs, net profit under level production is projected to be $520K, which is a 48% increase over the seasonal production estimate of $351K. Debt - Seasonal Production Seasonal production does not have the cash flow issues that occur under level production. The cost of level production of finished goods will be $543K each month; sales from January to July
Data Exercise 1 UMUC November 9, 2013 ECON 201 The relationship between unemployment and Gross Domestic Product (GDP) is referred to as Okun's law. The relationship was named after Arthur Okun who was the first person to propose the relationship. Okun’s law states that for every 1% increase in unemployment, GDP will be approximately 2% lower than its potential (Knotek, 2007). Figure [ 1 ] Figure 1 reflects the relationship between quarterly changes in unemployment and GDP from 1947 through 2002. The pattern holds true, as one can see a 1% in unemployment corresponds with approximately 2% negative growth.
Putting price differences into the PPP equation we can calculate the expected spot rate for peso for 2005: St20 = (180/50)(140/70) St20 = 1.8 St = 36 PPP rate for peso in 2005 is 36/$. Because there is no data for consumer price levels for 2006, inflation rate differentials between two countries can be used to predict peso spot rate for 2006. PPP says that currencies with a high inflation rate should depreciate relative to currencies with a lower inflation rate (Shapiro, 2006). By March 2006 the inflation rate in Costaguana was two times higher that the inflation rate in the US. Assuming that inflation rates for the US and Costaguana are 5% and 10% respectively, 2006 spot rate for peso can be calculated as below: StSo = 1+Pcp1+P$ St36 = 1+0.11+0.05 St = 37.71 Even though PPP does not hold true in its pure sense, relative PPP has been widely used by banks and companies’ management to forecast future exchange rates, especially in the long-run.
Not only do Americans work more hours but also they get the least amount of vacation. “They put us Americans at 1,841 “average” hours a year and the Germans at 1,473 hours in 2000 – and then put us at 1,804 hours a year and the Germans at 1,436 hours in 2006” (New York Times). That means that Americans work a total of 368 more hours than Germans in 2000, and exactly the same in 2006. There has been a decrease in hours worked in America, but we are still working more than Germans. 368 hours turns into fifteen and one third days.
In order to counter this, government issues a minimum amount in which a business is allowed to pay their employees. The concept of minimum wage not only goes against everything it means to be a “free society”, but it is also completely illogical according to a vast majority of economists. If the government can control the real wages of millions of Americans by simply passing legislation that says so, then why stop at $9.04 per hour? Why not make it $15 per hour? Isn’t $100 per hour more compassionate to the average entry level, unskilled employee than $9.04 per hour?
The federal minimum wage provisions are contained by the Fair Labor Standards Act (FLSA). The federal minimum wage of $7.25 per hour was effective July 24, 2009, and to date by January 2015 it will be $10.10 per hour. States also vary by minimum wage laws. Some state laws provide better employee protection; employers must comply with both. The FLSA doesn’t provide (WPCP) wage payment collection procedures for an employee’s usual and/or promised wages, commissions in true excess of those required by the FLSA.