Relation Between Inflation Rate and Unemployment - 1776 Words

Eurozone unemployment and inflation both rise 01 March 2012 by Daniel Mason Eurozone unemployment rose to a record high in January, while inflation in the currency bloc has also continued its upward trend - a combination described by economists as unpalatable and a double whammy of bad news. The jobless rate in the 17-member currency bloc was 10.7 per cent in January, up from 10.6 per cent in December, according to statistics published today by Eurostat. It means that, in January, there were 16.9 million people out of work in the eurozone. Meanwhile in the European Union as a whole, unemployment increased from 10 per cent in December to 10.1 per cent in January, leaving 24.3 million people without a job. Spain continued to†¦show more content†¦A rise in income will create increased purchasing power. Thus, the demand remains high as it reaches a point where the supply can no longer meet the demand, inflation occurs. However, at the same time, when unemployment is high, workers are unable to ask for better wages. This means that prices can fall, since businesses are not having to pay their employees better wages. Therefore, in many cases, when there is low unemployment, there is high inflation and vice versa. It has been observed that there was a stable and inverse relationship between rate of inflation and the rate of unemployment in an economy. In other words, a lower unemployment rate could be had by tolerating a higher rate of inflation. However, since the simultaneous occurrence of high inflation and high unemployment in the United States and other countries during the 1970s, there has been general agreement that this econometric relationship is unstable. Indeed, the instability has been so great that Lucas and Sargent characterized it as econometric failure on a grand scale.(1) As is known to all, widespread joblessness in Greece and Spain pushed the unemployment rate in the eurozone to the worst level since 1999. Coupled with the pitched unemployment rate, the economy has suffered from fluctuation. Take the example of the news released in recent time, which is concerned with the financial situation in Eurozone. As what we can see in the news report, during the businessShow MoreRelatedInflation And Its Effect On The International Market853 Words   |  4 PagesInflation means continuing rise in the overall price level. General inflation or a decline in purchasing power of the currency devaluation, and devaluation of the currency is relative reduction between the two economies. General inflation used to describe of the national currency, which is used to describe the added value on the international market. Unemployment means any paid work status is not obtained. In economics category, a person willing and able to get the reward for the work, but theRead MoreThe Positive Relationship Between Inflation And Inflation1067 Words   |  5 Pagesthese examples can be observed when we compare inflation and unemployment rate. To establish this comparison in a short-run period of time, it will be beneficial to use the Phillip Curve. This curve can be used as a tool to represent the positive relationship between inflation and unemployment in the short-run. In order to comprehend the positive relationship between inflation and unemployment first, we must know what inflation is, how we define unemployment, and how we can use the Phillip Curve to makeRead MoreEconomic Growth Between Emerging And Developed Economics Essay1181 Words   |  5 PagesCanada, Australia, New Zealand and Japan. Emerging countries can be identifying with rapid growth rate and development but lower per capita than develope d countries, namely Brazil, Russia, India, and China, Ireland, Italy, Greece, Spain. The economic growth of countries can be measured by gross domestic product (GDP) per capita. This essay is going to find out â€Å"What are the main reasons behind different rate of economic growth in emerging and developed economics in last 15 years?† In hear I selectedRead MoreMacroeconomic Variables Of The Stock Market974 Words   |  4 Pagesstock agents find the critical importance but the government to implement macroeconomic policy; the solid finding of this relation will enable policy makers to efficiently and effectively control the economy as well as the capital market. We aim to cover some relationship between macroeconomic indicators, including consumption, interest rate unemployment rate and inflation rate, and with stock price. Stock price or return and consumption Consumption has been viewed as one of the most fundamentalRead MoreThe Relationship Between Inflation And Unemployment1662 Words   |  7 PagesThe relationship between inflation and unemployment is a topic, which has been debated by economists for decades. It is this debate that has made the opinions about it evolve. In this essay, the controversial topic will be discussed by viewing different economists’ opinions on that according to time sequencing. Inflation is an increase in price levels within an economy. Basically it means that you will have to pay more for the same goods. Unemployment is even more straightforward. It means thatRead MoreFiscal and Monetary Policy 946 Words   |  4 Pagesgovernment therefore to keep inflation low as well as keeping unemployment rate down. Philips curve gives the probability of having both a low unemployment and inflation hence providing the stakeholders in the sector in the short run a tradeoff between unemployment and inflation (Mark Asmaa, 2012). Unemployment can be kept under control by the government while at the same time allowing inflation OR to keep controlling prices and not controlling unemployment. This compromise between the two is shown as aRead MoreDeveloped Countries and Economically Developed Countries Essay examples927 Words   |  4 Pagesdone on the relationship between inflation rate and unemployment rate in developed country such as by Hogan (United State), Sackâ€℠¢l en (Sweden) and Andrei (Romania). They are done the same research with different method to get same objective. The most of the study is use a VECM method in their research. While, there is a few of the study was used a VAR method. 2.1.1 United States Related to the topic research which is relationship between inflation rate and unemployment rate, the developed countryRead MoreEconomic Policies Of Every Country Essay964 Words   |  4 Pages(increase in output (GDP) growth), price stability (inflation targeting), high employment etc. The policymakers have different tools to manage these issues, primarily by influencing the aggregate demand and supply, such as interest rates, requirements to the bank reserves, tax rates etc. Therefore, this is crucial to understand how these macroeconomic indicators are interconnected, such as for example output and unemployment, unemployment and inflation, and the mechanism of policy actions in each caseRead MoreThe Effect Of Inflation On The Economy822 Words   |  4 Pagesto represent the inverse relationship between inflation and unemployment in the short-run. In order to comprehend this inverse relationship, we must first know what inflation is, how we define unemployment, and how these two variables are connected using the Phillip Curve. If we understand the meaning of each one of these variables in the economy, it will be easier to comprehend the logic of a short-run tradeoff between unemployment and inflation. Inflation, in the economic, can be described asRead MoreMacroeconomic Policies And Regulate The Healthy Operation Of The National Economy1243 Words   |  5 Pagesgrowth and balance of international payments. In addition, inflation, unemployment and economic growth are the big macroeconomic issues of our time. In this essay we focus on inflation and unemployment. Unemployment occurs when a person who is actively searching for employment is unable to find work. Unemployment is often used as a measure of the health of the economy. The most frequently cited measure of unemployment is the unemployment rate. This is the number of unemployed persons divided by the

Human Cloning Essay - 1608 Words

Imagine a future where humans are manufactured, a future where humans are created by science, a future where humans are the new lab specimen. Human cloning is like opening Pandoras Box, unleashing a torrent of potential evils but at the same time bringing a small seed of hope. No matter how many potential medical and scientific benefits could be made possible by human cloning, it is unethical to clone humans. Before the ethics of human cloning can be discussed, the mechanics of cloning must be understood first. Cloning is the process of making an exact genetic copy of an organism by a method called nuclear transplantation which is a process of removing a nucleus (the center of a cell which contains all of the biological information)†¦show more content†¦Human cloning is not always copying and creating a full organism; that is reproductive cloning. Cloning just an organ or tissue is called therapeutic cloning, and is a technology that is not possible yet but scientists feel t hat it is only a matter of time (Tierney). With that technology, many patients could be cured of previously life-long conditions such as paralysis, chronic heart attacks, and leukemia. A long-term â€Å"disease† such as infertility could be cured as well by creating a clone of the female and then transplanting that clone’s eggs into the female and then the children the couple has will be their biological children! Even amputees could have limbs regenerated in a lab and reattached (Smith). These medical advances seem like a cure-all, but they are not possible at the moment because we do not know enough about the human genome to see which genes code for certain proteins which shape the function of the cell. With our current technology, we cannot direct a cell to specialize into a kidney cell to transplant into a patient needing a new kidney. Current technology doesn’t allow for the creation of â€Å"spare parts† but it is possible to create fully functional humans (after many attempts), and then the human that was â€Å"created† could then be grown and disemboweled for â€Å"spare parts† (Dudley 30). The idea of creating a â€Å"Caliban† or a human specifically to actShow MoreRelatedThe Cloning Of Human Cloning1449 Words   |  6 Pagesto live up to 1,000 years old is alive today. However, many humans have a fear that this power of creation is fashioning an earthy trinity of man, science, and technology. Many of those who believe and fear this idea are apprehensive of various upcoming technological advances. After the first successful cloning experiment of a sheep, Dolly, scientists have looked into human cloning and the benefits it would offer humanity. Cloning of humans would give parents who are infertile the possibility to haveRead MoreThe Cloning Of Human Cloning1332 Words   |  6 PagesCloning Science today is developing at warp speed. We have the potential to do many things, which include the cloning of actual humans and animals. The question no longer seems to be if we will clone humans, but when? Somewhere, sometime, a human clone will be born. This fact has exploded the world into a global debate. Will large armies of soldiers be raised to fight our wars? Or perhaps we will create a race of slaves to do our dirty work. Cloning is becoming more credible and concrete idea ratherRead MoreThe Cloning Of Human Cloning1006 Words   |  5 PagesTwins? Or is it clones? It has been known that identical twins are natural clones. The question is, what is cloning? Cloning is the process of making a genetically identical organism through the use of a DNA sample. There are three different types of artificial cloning: gene cloning, reproductive cloning and therapeutic cloning. Dolly, the sheep, was the first mammal to have been successfully cloned from an adult cell. There is a spe cific procedure that has to be followed for a clone to be madeRead MoreThe Cloning Of Human Cloning1774 Words   |  8 PagesIntroduction- Cloning is defined as two organisms having identical genetic DNA and has been around since the early 1800s. When people think of the word ‘cloning’ many think of Dolly the sheep; however, the first organism to ever be cloned was a sea urchin in 1885. When scientists created Dolly, they took a cell from the mammary gland from an adult Finn Dorset sheep and an egg cell from a Scottish blackhead sheep. Dolly’s white face was the first sign that she was genetically modified because if sheRead MoreCloning And Its Implications On Human Cloning1497 Words   |  6 PagesCloning and Its Sociobiological Implications Picture this: walking down a street and seeing someone who looks exactly like you. They do the same things as you, act the same way you do, and are exactly alike in several ways. But have people ever considered the consequences of human cloning if it becomes permitted? Human cloning might seem like something out of a science-fiction novel, but it may someday be possible with advances in science and technology. This will result in the creation of severalRead MoreThe Human Of Human Cloning2049 Words   |  9 PagesHuman Cloning Nowadays, in the twenty-first century, advances in medical sciences are being more and more common. As people become sicker, scientist try to find the way to solve that prob-lem. There are many series of medicaments, surgeries, and machines that have been develop to satisfy the necessities of modern society. However, all these techniques and options are not enough to cure many diseases or other types of problems such as amputations, transplants, and so on. As a result, scientists tryRead MoreThe Prospect Of Human Cloning1295 Words   |  6 Pages The prospect of human cloning was introduced in February 1997 when an embryologist was able to produce a lamb through the process of cloning. Once the lamb was cloned, the question of whether research for human cloning came into being. Society and researchers have feuded over whether human cloning should be banned or allowed for research and reproduction purposes. Each side has reasonable ideologies to continue their stance towards the oppo sing argument. Pro- cloners believe that the research developedRead MoreThe Ethics Of Human Cloning918 Words   |  4 Pages and human cloning. The idea of human cloning is most interesting because it is most mysterious and very complex. The topic of human cloning inclusively brings up issues also raised in the mentioned technologies. Human cloning is of two types: therapeutic and reproductive. Therapeutic cloning aims to produce tissues or organs from cells of a cloned embryo, whereas reproductive cloning aims to further develop the cloned embryo into a human being (Glannon 89). Motivations for human cloning are therapeuticRead MoreThe Problem Of Human Cloning1034 Words   |  5 PagesThroughout this paper, I will be talking about the topic of human cloning. However, there are many who have concluded to different definitions. To clarify, and use a specific definition, the American Medical Association defines the method of cloning as the production of genetically identical organisms. In summary, the process of cloning is producing a child, with completely identical genes, or parent. It is important to realize that cloning does not necessarily produce an exact replica of the individualRead MoreHuman Cloning Is Justified?1295 Words   |  6 PagesResearch Paper: Human Cloning is Justified Imagine a world where disease was non-existent, long term injuries could be healed in half the time, a world where our life spans could be greatened to an extent never seen before by man. This could be achieved with the cloning of humans, artificial cloning is the next evolutionary step for mankind.Although many would claim human cloning is unethical and dangerous, there are procedures at hand currently that are far from that. The act of human cloning allows for

Demand and Supply of Labor in Australia-myassignmenthelp.com

Question: Discuss about theDemand and Supply of Labor in Australia. Answer: Introduction Labor is an important resource in the production of goods or services in an economy (Rouse, 2011). It is therefore essential for the policy makers to ensure that there is sufficient supply of labor. The Australian economy has been challenged with the issue of bringing its unemployment level to manageable level since it is very high (Valenzuela, 2013). This means that the demand for labor in Australia exceeds its supply. Demand for labor is given by the workers who are looking for both full time and part time employment; the number of unemployed persons in Australia is high. Despite the fact that the economy is experiencing growth in the current years, this has not been reflected on the labor market; businesses are not expanding and thus are not demanding additional labor (McGrath, 2014). In this paper, some of the factors that are responsible for increasing the labor demand will be identified and also some factors that are discouraging supply. In the article Unsustainable labor chall enges leave Australia's vegetable supplies to rot obtained from the Sydney Morning Herald written by Anna Patty in 2017, the writer is showing us that wage is one of the factors that discourages supply of labor. This report will thus be important to the unemployed people to understand the reasons for the persistence of unemployment. It will also help the employers in making wise employment decisions as it will acquire knowledge on how to improve the workers productivity. The government will also be able to make policies towards addressing some of the problems that will be identified to accelerate the unemployment problem. Economic Analysis The article notes that labor is an important resource for promoting production. In this article, it is noted of the many farmers that have experienced great losses owing to the insufficiency of laborers. The losses have been incurred because the workers who are supplied in these farms are lower than the labor demand. The sustainability of the agriculture industry is at risk because they will not be able to produce more as they will be afraid that they wont be able to get enough laborers to pick, package and get the fruits to the market. The productivity is also undermined because the businesses cannot expand as additional workers may be required for the same. One of the major solution introduced to help solve the challenge of low labor supply is that of facilitating the Working Holiday Maker (Martin, 2017). These young people from countries neighboring Australia are allowed to offer their low skilled labor in an industry like the horticultural industry (Moir, 2017). The reliance of this Working Holiday Maker is becoming a major challenge as some of the farmers are unable to recruit the low-skilled workers and end up leaving their fruits unpicked. The duration period for such visas is 88 days and these workers are not willing to be committed to continue working after these days are over. The article noted that these workers are not willing to extend their visas as it leads to exploitation. This industry is an important contributor to the Australian GDP, insurance on food security and the earning of foreign exchange from the exportation of these products (Patty, 2017). The most important factor for inadequacy of laborers in this industry is payment of low wages and difficult working conditions. The Australians thus claims that this is a low status job that they cannot engage in. they also notes that there is no job security from involvement in such a job. The article also noted that even the Working Holiday Makers are not enough; the reason given was that these workers are limited to flow from certain countries and restrictions on others. It is proposed by the horticultural farmers that the government should lower such restrictions and allow more laborers to from many countries to give a sufficient supply. The policies by the government are also discouraging the flow; the government has increased tax on these workers; farmers argue that the tax should be lowered so as to attract more workers. Fig: Underutilization of labor in Australia Source: Somasundaram: Business Insider Australia (2017) Fig: Australian Unemployment Rate Source: Somasundaram: Business Insider Australia (2017) According to Jacobs (2017), underutilization of labor is experienced in the Australian labor market in addition to the high unemployment rate as shown in the two graphs above respectively. Recommendation Unemployment problem has been a major challenge for this economy. There are many workers without jobs in Australia, thus, the idea of promoting the flow of Working Holiday Makers is not a good idea. The government should address the problem facing the horticultural industry and improve their working conditions; regulation of this industry would help in addressing these problem. The increment in tax for this workers should be raised since the importation of labor add to the labor force and this explains the high unemployment rate. The government should also ensure that wages offered in this industry are fair so as to stimulate the Australians to work in this industry. This could be achieved by lowering the corporate tax for the horticultural farmers to lower their production costs and thus facilitate a payment of higher wages. The personal tax on Australians working in the industry should also be lowered. Discouragement of the Working Holiday Makers will also create a shortage of supp ly and thus the horticultural farms will accept the Australian workers at a higher wage. Conclusion Australian economys unemployment rate is high and thus the policy makers are expected to find a solution. The flow of workers from other countries to Australia is contributing to an excess supply of labor. These workers are in most cases underpaid so as to improve the profit level for the firms. The ability to import workers who can work at lower wages is at a disadvantage to the economy as it discourages the domestic workers from these industries and contributes to the rising unemployment rate. It is unfair to employ an alien whereas there are unemployed domestic workers. Further research should be carried out as the factors discouraging labor supply and demand are many. References Jacobs, S. (2017). The RBA minutes show it's thinking differently about the labor market. Business Insider Australia. Retrieved 29 August 2017, from https://www.businessinsider.com.au/the-rba-minutes-show-its-thinking-differently-about-the-labour-market-2017-5. McGrath, P. (2014). Labor shortage predicted to hamper economy. ABC News. Retrieved 29 August 2017, from https://www.abc.net.au/news/2014-08-04/labour-shortage-predicted-to-hamper-australian-economy/5647196. Moir, A. (2017). Don't expect backpackers to do backbreaking work without fair wages. The Sydney Morning Herald. Retrieved 29 August 2017, from https://www.smh.com.au/comment/smh-letters/dont-expect-backpackers-to-do-backbreaking-work-without-fair-wages-20170514-gw4tos.html. Martin, P. (2017). Citizenship rules make no sense since most of us come from somewhere else. The Sydney Morning Herald. Retrieved 29 August 2017, from https://www.smh.com.au/comment/citizenship-rules-make-no-sense-since-most-of-us-come-from-somewhere-else-20170725-gxir3d.html. Patty, A. (2017). Unsustainable labor challenges leave Australia's vegetable supplies to rot. Smh.com.au. Retrieved 29 August 2017, from https://www.smh.com.au/business/workplace-relations/unsustainable-labour-challenges-leave-australias-vegetable-supplies-to-rot-20170512-gw3bjt.html. Rouse. (2011). The Australian Economy: The labor market. Mrrouse.com. Retrieved 29 August 2017, from https://mrrouse.com/2011/05/24/labourmarket/. Somasundaram, N. (2017). It's tough times ahead for Australia's labor market. Business Insider Australia. Retrieved 29 August 2017, from https://www.businessinsider.com.au/its-tough-times-ahead-for-australias-labour-market-2017-5. Valenzuela, R. (2013). Wages down to supply and demand. The Sydney Morning Herald. Retrieved 29 August 2017, from https://www.smh.com.au/national/education/wages-down-to-supply-and-demand-20131004-2uyno.html.

The Scream

The Scream- analysis of painting Essay The drastic use of color has been used to depict the mood of the subject, with greens and intense reds contributing to a sense of chaos and disorder, which helps to reinforce the expression of the figure The lone emaciated figure stands on a bridge clutching his ears, his eyes and mouth open in a wide scream of fear, anguish and confusion. The green hue of the characters face and his grey clothing is symbolic of sickness and death in regards to his psychotic mental State. The red sky creates a sense Of alarm, and highlights the intensity Of the characters experience. Munch employs wavy brushstrokes to emphasis the situation that the character is feeling. Bold, curved strokes in the sky and river, make the viewer experience a sense of nausea. It gives the impression that the character is experiencing emotional agitation, and that his perception of the world may not be a true one. Contrast between the bright colors of the background and the dull, dark colors of the character create a sense of detachment. We will write a custom essay on The Scream- analysis of painting specifically for you for only $16.38 $13.9/page Order now We are able to see that although he is standing amidst a normal environment, he feels disconnected from reality. The figure is juxtaposed with the people on the bridge blurry and vague- giving a sense of segregation and isolation. The character feels alienated from those around him and from the real world. Munch uses a shallow pictorial space, and has utilized frontal figures, These poses produce the most convincing images of psychological conditions, adding to the paintings monumental and static quality. The composition, colors and dramatic use Of perspective, the undulating curves of the landscape and hollow figure personify alienation and anxiety. Munch described the event, Which took place on a trip to Gabardines in his diaries: l stood there trembling with fright and felt a loud, unending scream piercing nature. It reflects upon human emotions, and how our relationships With Others, and with our environment can affect us. The visual also deals with the human need to be acknowledged, and need for a sense Of belonging.