I found it interesting that places such as Japan and Vietnam had a higher Gini Index than the United States. It was shocking what I found and it was kind of unexpecting in a way. What this says about America is that we are not as equal and as powerful as so many think that we are.
Three American Groups Fighting Poverty:
FOCUS North America
Fundacion En Via of Oaxaca
Oxfam America
For Northern Burlington, the best place to donate money to fighting poverty in my opinion would be oxfam because of the support in America and globally. They help and fight poverty not only in the United States but oxfam also helps other countries such as Haiti and other countries. This would help the oxfam community grow and make donations possible to help those in need. You donate monthly and your money goes toward a good cause. "And after the earthquake in Haiti, Oxfam purchased the peanut butter and cornmeal from her group to help feed 10,000 surviving families." (oxfamamerica.org) Therefore, I would pick oxfam to be the place of donation for Northern Burlington.
Scenario #1 (Frictional)- I am fired from my job as being a civil engineerer and I am will be searching for another job dealing with computers. So I am basically going from one job to another and in the period of looking for another job I am in frictional unemployment.
Scenario #2 (Structural)- I lost my job as being a oil miner since technology has changed and oil is no longer used. Now instead of oil and gas as fuels, we have solar and wind fuel for the future. So because of the shift in techonology I had lost my job.
Scenario #3 (Cyclical)- I had a job with General Motors and because of the recession and economic fall in 2038, I lost my whole job and had to be laid off. Due to the recession I lost my job and now face the challenge of being unemployed.
Scenario #4 (Seasonal)- I am one of the few farmers left in the year 2020 and right now is the coldest winter that I have ever experienced. Because of the winter months, my job is greatly affected by this and I am currently unemployed. I lost my job because I can not produce anything in 5 feet of snow and this forces me to be unemployed until the spring, summer, and then the fall again. So, I am seasonally unemployed.
national income accounting- the bookkeeping system that a national government uses to measure the level of the country's economic activity in a given time period.
gross domestic product- The monetary value of all the finished goods and services produced within a country's borders in a specific time period, though GDP is usually calculated on an annual basis
output-expenditure model- The output expenditure model tend to depreciate the currency and only temporarily raise gross domestic product and the current account surplus, although permanently raise the domestic price level
personal consumption expenditure- A measure of price changes in consumer goods and services. Personal consumption expenditures consist of the actual and imputed expenditures of households
gross investment- A measure of additions to the capital stock that does not subtract depreciation of existing capital.
nominal GDP- A gross domestic product (GDP) figure that has not been adjusted for inflation
real GDP- An inflation-adjusted measure that reflects the value of all goods and services produced in a given year, expressed in base-year prices
price index- Percentage number that shows the extent to which a price (or a 'basket' of prices) has changed over a period (month, quarter, year) as compared with the price(s) in a certain year (base year) taken as a standard.
underground economy- refers to both legal activities, such as often found in construction and services industries where taxes are not withheld and paid, and illegal activities
gross national product- is the value of all the goods and services produced in an economy, plus the value of the goods and services imported, less the goods and services exported.
business cycle- The recurring and fluctuating levels of economic activity that an economy experiences over a long period of time
expansion- The phase of the business cycle when the economy moves from a trough to a peak
peak contraction- The highest point between the end of an economic expansion and the start of a contraction in a business cycle
recession- A significant decline in activity across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade
depression- A severe and prolonged recession characterized by inefficient economic productivity, high unemployment and falling price levels
trough- The stage of the economy's business cycle that marks the end of a period of declining business activity and the transition to expansion
leading indicators- Leading indicators are indicators in economics and finance used to predict the future
coincident indicators- Economic and financial marketindicators which tend to move in step with (1) general economic trends such as gross domestic product (GDP), employment levels, retail sales, and/or (2) financial market trends such as interest rates and stockmarket prices.
lagging indicators- are indicators in economics and finance used to measure past performance
real GDP per capita- A country's real GDP per member of the population. This may be calculated using the total population.
labor productivity- Rate of outputper worker (or a group of workers) per unit of time as compared with an established standard or expected rate of output.
productivity growth- is a measure of output from a production process, per unit of input. For example, labor productivity is typically measured as a ratio of output per labor-hour, an input
capital-to-labor ratio- The ratio of capital to labor employed in a process, a firm or an industry
capital deepening- is a term used in economics to describe an economy where capital per worker is increasing
I chose this link to use on the midterm because it talks about everthing ranging from government spending to GDP and prices. It also mentions income and gives information on the government in general.
I chose this link to use on the midterm because it is basically a dictionary. You just type in the term you want to know and it gives you the definition. (Really helpful and easy!)
This chart is very good for dipicting the business cycle by going recession and depression all the way through boom and inflation. This is a good chart but is not a visual that is too appealing because of the vagueness.
I think that this is a great graph because of all the information its presents to the reader and shows the phases that the business cycle goes through. However, I don't like because it can be confusing to the reader if they are looking at it for the first time.
This graph is very good along with all the others. I like this graph because its very concise; it shows the cycles and depicts and explains each spot where something is occuring. This is the most simple and easiest to look at and understand. There is nothing I could find to say anything bad about this graph.
I give the "BEST GRAPH OF THE ECONOMIC SEMESTER" award to graph number three for being short, sweet, and to the point. This graph is very concise and can still hold a lot of information that can be easily understood by any reader. It's also very colorful and that helps appeal to the reader as well.
The business cylce is the recurring and fluctuating levels of economic activity that an economy experiences over a long period of time. There are five stages of the business cycle which inlcude growth (expansion), peak, recession (contraction), trough and recovery. Business cycles today they are widely believed to be irregular, varying in frequency, magnitude and duration.
The business cycle is the periodic but irregular up-and-down movements in economic activity, measured by fluctuations in real GDP and other macroeconomic variables.
Contraction: A slowdown in the pace of economic activity
The lower turning point of a business cycle, where a contraction turns into an expansion
Expansion: A speedup in the pace of economic activity
