Monday, April 18, 2011
Term 2 Progress Test 2 Revision Sheet
Thursday, March 10, 2011
Thursday, January 13, 2011
Saudi unemployment hits half a million
Wednesday, January 12, 2011
LEBANON'S ECONOMY
Lebanon's economy and markets are one of the best developing economies in the world. The private sector contributes to around 75% of aggregate demand,and is a major pillar for growth and recovery. The Lebanese economy is also considered as a typical open economy with a large banking sector equivalent to more than 2.5 times its economic sector and provides an important support to aggregate demand.
Lebanon recorded a Human Poverty Index of 7% in the 2009 HDI report which ranks it in the 33rd place in the world.
Macro-economic trend
This chart calculated by the International Monetary Fund with figures in millions of Lebanese Pounds describes the product of Lebanon at market prices :
(the following list is copy pasted)
Year | Gross Domestic Product | US Dollar Exchange | Inflation Index (2000=100) |
---|---|---|---|
1980 | 14,000 | 3.43 Lebanese Pounds | 0.071 |
1985 | 59,329 | 16.41 Lebanese Pounds | 0.21 |
1990 | 1,973,000 | 695.20 Lebanese Pounds | 18 |
1995 | 18,027,607 | 1,621.33 Lebanese Pounds | 81 |
2000 | 25,143,000 | 1,507.46 Lebanese Pounds | 100 |
2005 | 33,243,000 | 1,507.48 Lebanese Pounds | 106 |
Effects of the Late 2000s Economic Crisis
Lebanon's stock market increased in 2008.And it is considered one of the only seven countries in the world in which the value of it's market is increasing. The Lebanese economy grew 8.5 percent in 2008 and seven percent in 2009. Since Lebanon enjoyed solid economic performance despite a global recession, the World Bank expects continued growth as the global economy improves in 2010. According to a report by the World Bank,Gross Domestic Product (GDP) growth in 2010 should remain steady at seven percent.
Saudi economy to grow 4.2 percent in 2011
(Copy Paste)
While on paper a budget shortfall of 40 billion riyals (10.7 billion dollars) is forecast for 2011,and that high spending will not prevent the government from running a budget surplus around 6% of GDP and that it will require an oil price of nearly 70 dollars per a barrel.
http://en.news.maktoob.com/20090000540796/Saudi_economy_to_grow_4_2_percent_in_2011_bank_/Article.htm
Tuesday, January 11, 2011
Money In The U.S Economy
During the later year of the 20th century, the US financial plan was important but managing the overall economy was transferred from economic policy to monetary policy, which is the province of the Federal Reserve System. The federal system includes twelve regional banks and 25 Federal Reserve System branches. Legally, all commercial banks are obligated to be members of the Federal Reserve System with an exception of the state chartered banks.
A bank that is a member of the Federal System uses the Reserve Bank in its region in the same way that a person uses a bank in his community. The Federal Reserve System is administered by the Board of Governors. Its seven members, who serve overlapping 14 year terms, are appointed by the president. Its monetary policy decisions are made by the Federal Open Market Committee, which consists of the seven governors. The governors are, by law, independent from congress and the president.
The Federal Reserve System must report on its actions to the congress. The important policy decisions are conducted in privacy and often disclosed only after a period of time has elapsed. Its operating expenses are generated from investment income and fees.
For maintaining control over the supply of money, the Federal Reserve adopts three tools. The most important tool is relevant to open market operations or buying and selling of government securities. The Federal Reserve buys government securities from banks, other businesses, or individuals, to increase the supply of money.
New reserves are created when the federal checks are deposited. The bank can lend or invest some of it. Government securities are sold to the banks to reduce money supply. When banks have lower reserves, they must reduce their lending, and the money supply drops accordingly.
http://economics.about.com/od/monetaryandfiscalpolicy/a/money.htm
December jobs report: Unemployment rate at 9.4%
December jobs report: Unemployment rate at 9.4%
New York CNN reports that the unemployment rate is at 9.4%, which is the lowest rate since May 2009. Even though this sounds good, it is actually bad for the economy even though 103,000 jobs were added in December of 2010. According to John Sivia, Wells Fargo’s economic chief, he suggested that this is either good or bad. A lower unemployment rate is a mixed blessing, but it is bad for the long term.
Who’s fault is it, the people or the businesses? According to CNN, it is the people. Facts are, about 260,000 adults are discouraged from seeking employment!
Fact show that the economy has improved greatly in 2010 with 1.1 million jobs added, which has been proven the best since 2007.
Monday, January 10, 2011
Less worried about layoffs, jobholders spend more
This article talks about how consumer spending has significantly increased lately which signifies an increase in confidence. It seems that jobholders are now less worried about getting laid off which explains the increased spending.
Most people feared losing their jobs during the recession, which ended in June 2009. But now, despite 9% unemployment, Americans are breathing much easier.
Workers who survived the job cuts of the recession have begun to conclude: ''If they haven't fired me by now, they're not going to'' says Michael Koskuba, portfolio manager with Victoria Capital Management. But people shouldn't get their hopes up too much. Higher spending and growth don't mean the unemployment rate will fall significantly this year. Economists think it will remain at around 9% by year's end.
12 Fastest Growing Economies of 2011
Many, well most, poeople say that China is the fastest growing country in the world, but that isn't how its measured, it is the fastest growing larger economy, and as we will see that is a different thing.
(the following list is copy pasted)
GDP Growth Value
Ghana 20.146 %
Qatar 14.337 %
Turkmenistan 12.178 %
China 9.908 %
Liberia 9.003 %
India 8.43 %
Angola 8.251 %
Iraq 7.873 %
Ethiopia 7.663 %
Mozambique 7.548 %
Timor Leste (East Timor) 7.4 %
Laos 7.395 %
Deloped countries usually don't appear in the top 12 and almost half of
the top 12 come from Africa. Ghana went from 4.5% in 2010 to a
remarkable 20.146% in 2011. four countries from the list are from the
Far East, China from Central Asia, andQatar with Iraq being only ones in
the Middle East, . In 2010 there was only 1 G20 nation in the Top 12.
For 2011, India sure made some remarkable changes. This is the beginning
of a larger trend.
Sunday, January 9, 2011
Apple's Co-Founder takes a salary of $1 .... AGAIN !!
Apple Inc. chief Steve Jobs and co-founder of the company is taking an annual salaray of $1 .
Without Steve Jobs , Apple Inc. wont be able to be the the world's most-valuable technology company based on market capitalization, mr.Steve was the one who made the idea of iPod digital media player, followed by the iPhone, plus the iPad early last year .
Mr.Jobs known for taking a salary of $1 since 1997 . and he owns 5.5 million share of the company and hasn't sold any shares since 1997 .
And in the same time , it seems that the company's operating chief, Timothy Cook, taking a salary of $800,000 in 2010 along with other bonus money and bonds awards .
http://online.wsj.com/article/SB10001424052748704739504576067693546859346.html
The business cycle
The business cycle is the irregular changes that
business go thriugh ecinomically.
it is made of a)peak, b)expansion, c)trough, d) contraction.
Peak is the highest part of the business cycle ,Expansion is the part of the bussiness cycle in which economic activity is growing, Trough is the lowestb part of the business cycle,Contraction is lowest part of the business cycle,,, some economists count depression which is a major slowdown in economic activity.
Some causes of business fluctuations are
1) Business Investment: made of the innovations of business
2)Government activity : policies of spending and how to use taxes as well as its control over money.
Some indicators of business are GDP which helps to find out the condition of countries as well as if there are any inflation or recession , Employment which is how much people are employed ; the more the people are employed the more the economy increases and vice versa ,, and last: personal income ; the more peoplle have money the more they spend and vice versa.
Saturday, January 8, 2011
Teens and blacks face highest unemployment
Revision List for End of Term
Friday, January 7, 2011
Saudi Arabia Economy Expanded 3.8% in 2010
Saudi Arabia's economy performed very well in 2010 , with the steady increase in the price of oil. Indicators point to the Saudi economy has expanded by around 3.8% in 2010. This increase saw the kingdom's budget post a surplus of 28 billion dollars compared to the deficit of 20 billion forecasted at the beginning of the year.
These measures will continue to grow into the new year and beyond hopefully. The government hopes that the GDP for 2011 will expand by 4% or more, while raising the activity in main sectors such as construction and logistics.
http://www.english.globalarabnetwork.com/201101068556/Economics/saudi-arabia-economy-expanded-38-in-2010.html
Wednesday, January 5, 2011
Japan Keeps a High Wall for Foreign Labor
Tuesday, January 4, 2011
Pakistan GDP
Economical condition of Pakistan is not developed as it suffrs from internal crisis at a few levels such as economy, low foregin investments and so on. However, Pakistan economy is showing trends of growth. This will lead to growth in GDP of Pakistan. Various measures were taken by federal government to maintain and speed up current trend of economic growth in GDP of Pakistan which will also will also lead to greater employment opportunities, increase in per capita income, and much less poverty, as was confirmed by Dr Ashfaque Khan, finance minister of Pakistan.
Monday, January 3, 2011
The War Over Spending
Tax reform is the process of changing the way taxes are collected and managed by the government. Income rates can be greatly decreased if the hundreds of tax breaks in the code are streamlined with some being reduced in value and many being eliminated together. This first round of this Debate will take place on January 5. So what will happen, will they raise the the debt limit/ceiling or will they cut spending. If they decide to cut spending, hundreds of firefighters could lose their jobs. The economy will increase in the unemployment rate and will affect everyone.
Follow This Link: The War Over Spending
Summarized By Talat Zaitoun 10B1