It was not until the subsequent eight months that the revisions in the GDP data which revealed declining real GDP for the first, second, and also the third quarters of the year 2001." ("NBE's ecession Dating Procedure," 2003) the graphs showing Quarterly real GDP, eal Personal Income less Transfers and Payroll Employment is stated in Exhibit -I, Exhibit -II, and Exhibit -III repectively. ("NBE's ecession Dating Procedure," 2003)
VI. Economically driven recession v. Entrepreneurs and consumers perception of recessions:

Economically driven recession:

The U.S. recession following March 2001 and after the 9/11 incident is considered to have clinched the decision regarding recession marked by a sudden decline in economic activity. According to the indexed value of the "net agricultural payroll employment in the U.S., by March 2001, the official cyclical peak equals to 100." "The job losses were quite modest through the 3rd quarter, but took the turn for a decidedly negative…...

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References

Daly, Mary. (2002, Feb) "Profile of a Recession -- the U.S. And California" FRBSF

Economic Letter, Retrieved 4 June, 2008 at  http://www.frbsf.org/publications/economics/letter/2002/el2002-04.html 

Jacobe, Dennis. (2008, Apr) "Most Americans say now is the bad time to spend" Retrieved June, 2008 at  http://www.gallup.com/poll/106612/Most-Americans-Say-Now-Bad-Time-Spend.aspx 

Mills, Frederick C. (1936) "Prices in Recession and Recovery: A Survey of Recent Changes"

Economic Final Report
Types of economic systems

Economic systems vary from one nation to another. Traditional economic systems refer to an economic system founded by tradition. The services and goods that people provide through the work they do, how people exchange and use the resources are trends that follow permanent patterns. These are not dynamic economic systems because there are minimal changes. In this economic system, people live on static standards. They do not enjoy much occupational mobility and financial mobility (Gregory and Robert 19). However, it is possible to predict economic relationships and behaviors. People are aware of what they are expected to do, why they trade, they know what others should give to them. In traditional economic systems, the interests of the community are of great priority than individual interests. People collaborate at work and labor proceeds are shared equally. However, in some traditional economic systems, individuals respect some personal…...

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Work Cited

Conklin, David W.; Comparative Economic Systems: Objectives, Decision Modes, and the Process of Choice. Cambridge [England: Cambridge University Press, 2009. Print.

Gregory, Paul R, and Robert C. Stuartl; Comparative Economic Systems. Boston: Houghton

Mifflin Co, 2010. Print.

Keese, Mark, Pete Richardson, and Ge-rard Salou. The Measurement of Output and Factors of Production for the Business Sector in OECD Countries: (the OECD Business Sector Database). Paris: OECD, 2011. Print.

ECONOMICS
The industrial age was an age of giant, mega corporations that were often bogged down by inefficient and outdated distribution, innovation, and production techniques. y contrast, the information age of the past 20 years or so has brought forth a new business form, a fluid congregation of businesses, sometimes highly structured, sometimes amorphous, that come together on the internet to create value for customers and wealth for their shareholders. This phenomenon has been commonly referred to as "digital capital," "information technology revolution," or "new economy." However, as both the Dow Jones Industrial Average and the Nasdaq soared to historic highs and record volatility in just a few short years, a widespread and quite fundamental disagreement emerged concerning whether or not the high-tech boom was nothing more than one huge bubble.

This paper analyzes and examines the present condition of the United States economy. Part II discusses what phase of the business…...

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Bibliography

Bedroussian, Armen, Devol, Ross C., Fogelbach, Frank, Goetz, Nathaniel H., Gonzalez, Ramon, R., and Wong, Perry. "The Impact of September 11 on Metropolitan Economies." January 2002. Retrieved at Report.pdf on July 21, 2002.http://www.milken-inst.org/presrel/NationalMetroImpact

Jordan, Meredith. "Economists: Turnaround in Early 2002." Retrieved at   onJuly 21, 2002.http://atlanta.bizjournals.com/atlanta/stories/2001/07/09/story5.html .

Moore, Geoffrey H. Business Cycles, Inflation and Forecasting, 2nd edition, 1983. Ballinger Publishing Co., Cambridge, MA.

EconEd Link." Retrieved at   21, 2002.http://www.econedlink.org/datalinks/index.cfmonJuly 

Not only are they crucial for the movement of people, but they are crucial for the rapid movement of time-sensitive goods. Therefore the government has an interest in the survival of the industry. Government can and has involved itself through monetary policy in sustaining or resuscitating struggling airlines in order to maintain the overall strength of the industry.
Taxation is another area where governments affect the industry. This again relates to the tight margins, as taxation represents a key expense for airlines. Changes in the tax regime directly affect airlines' after tax profits. The government can encourage or discourage the industry based on its taxation policies. The IATA believes the airline industry to be more heavily taxed than some of its substitutes, and has an entire program to deal with the issue of taxation, highlighting taxation's relevance to the industry.

Another way in which fiscal policy can impact the industry is…...

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Works Cited

Pearce, Brian. (2008). Financial Forecast. IATA. Retrieved June 29, 2008 at  http://www.iata.org/NR/rdonlyres/DA8ACB38-676F-4DB1-A2AC-F5BCEF74CB2C/0/Industry_Outlook_Briefing_March08.pdf 

No author. (2008). The Industry Handbook: The Airline Industry. Investopedia. Retrieved June 29, 2008 at  http://www.investopedia.com/features/industryhandbook/airline.asp 

Flint, Perry. (2008). 2008 Forecast: Will the Luck Hold? Air Transport World. Retrieved June 29, 2008 at  http://www.atwonline.com/channels/dataAirlineEconomics/article.html?articleID=2174 

No author. (2008). Chief Characteristic of the Airline Business. Air Transport Association. Retrieved June 29, 2008 at http://members.airlines.org/about/d.aspx?nid=7955

Economics
hile the U.S. is only showing the first signs of recovery from the global economic crisis, other nations such as Australia and China have recovered much more quickly. There are a number of factors that have contributed to the disparity in economic performance in the past three years in these different nations. In particular, three factors will be considered. The first is the situation in each country at the outset of the crisis. As the crisis was largely precipitated by a credit crunch, the differences between the structure and regulation of the banking sectors in each country will be given particular attention. The second factor will be the response on the part of each federal government to the crisis. The third factor will be the nature of the different economies -- the degree to which different structures have impacted the recovery process. Lastly, policy implications will be drawn for the…...

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Works Cited:

BEA. (2011). National income and product accounts table. Bureau of Economic Analysis. Retrieved March 4, 2011 from  http://www.bea.gov/national/nipaweb/TableView.asp?SelectedTable=1&ViewSeries=NO&Java=no&Request3Place=N&3Place=N&FromView=YES&Freq=Year&FirstYear=2007&LastYear=2010&3Place=N&Update=Update&JavaBox=no#Mid 

Chinability.com. (2010). GDP growth in China 1952-2009. Chinability.com. Retrieved March 4, 2011 from http://www.chinability.com/GDP.htm

Jones, F. (2011). Krugman: Stimulus didn't fail because it never happened. Moneynews.com. Retrieved March 4, 2011 from  http://www.moneynews.com/StreetTalk/paul-Krugman-Stimulus-Didnt/2011/02/16/id/386333 

Maiden, M. (2009). Australia's banking sector is as strong as a brick outhouse. The Age. Retrieved March 4, 2011 from  http://www.theage.com.au/business/australias-banking-sector-is-as-strong-as-a-brick-outhouse-20090506-avdj.html

Economic Challenges Canada Faces
In recent years, the challenging economic condition in Canada has emerged as a concern for citizens, policy makers and the government alike. Canada faces challenges in terms of creating a more innovative society, as the country continues to experience a significant productivity gap compared to other advanced industrial economies. The Canadian industry appears to be slower in successfully developing, applying and marketing innovative products, processes and services than a majority of other nations. This lack of innovation is the cause of Canada's low productivity growth and competitiveness, and therefore must be addressed in order to increase employment growth, a higher standard of living and an improved quality of life for all Canadians.

Current research predicts that although Canada's economic performance will gradually strengthen out of the recent mild slowdown into a better pattern of growth in 2004, Canada's economy still faces the longer-term challenge of increasing productivity growth…...

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Bibliography

Department of Finance Canada. (2004). The Economy in Brief. Retrieved March 8,

2005, from the Department of Finance Web site: 12e.htmlhttp://www.fin.gc.ca/ECONBR/ecbr04-

Economic Survey Canada. (2004). Building Partnerships for Progress. Retrieved March 8, 2005, from the Economic Survey Canada Web site: http://www.oecd.org/document/24/0.02340.en_2649

Environment Canada, Informing Canadians on Pollution. (2002) Highlights of the 2002 National Pollutant Release Inventory, Environment Canada.

Economic Depression of Europe
An economic depression is more severe than a recession due to the fact that a depression involves drastic decline in a national or international economy, characterized by decreasing business activity, falling prices, and high levels of unemployment.

There were economic depressions in Europe that were experienced before and after the 1870 but with a remarkable difference, being that those that were experienced before the 1870s were less costly in terms of life and resources and took relatively lesser period. Indeed it was a commonplace that every part of Europe experienced one sort of economic depression or the other.

One such economic situation before 1870 was the "little ice age" which began in the late 16th century till around 1950s as indicated by Big Site of History (2011). This was a time when a severe cold that could not be withstood by most crops set in most part of Europe.…...

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References

Big Site of History (2011). Social Trends in 17th Century Europe: The Problem of Divine-Right

Monarchy. Retrieved July 18, 2011 from  http://bigsiteofhistory.com/social-trends-in-17th-century-europe-the-problem-of-divine-right-monarchy 

Historic UK, (2011). The Great Plague 1665. Retrieved July 18, 2011 from http://www.historic-

uk.com/HistoryUK/England-History/GreatPlague.htm

It is when the market reaches this point that the system begins to unravel. Once prices start to drop, borrowers start to default on their loans causing prices to fall even further (Buttonwood, 2009).
When this situation happens the Government must step in and take action. When the banking and finance sector hit crisis mode it causes deflationary destruction, because capital is essentially eliminated. Businesses, investors and consumers begin to lose confidence and borrowers find it hard to repay their lenders. When financial times are good, government revenues in the form of taxes on capital gains, bonuses, corporate profits and property sales tend to be strong. But as governments are now discovering, such revenues collapse very quickly when the bubble bursts and things fall apart (Buttonwood, 2009). The financial sector in this country plays a very important role and can make or break depending on the mode that it is…...

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References

Buttonwood. (2009). Minsky's moment. Retrieved April 13, 2009, from Economist.com Web

site:

 http://www.economist.com/research/articlesBySubject/displaystory.cfm?subjectid=34891 

8&story_id=13415233

Increases in manufacturing reveal benefits early, one can track the benefit at all stages and report the benefits to the public quickly. According to a statement released by the Center for American Progress, "solar panels don't install themselves. Wind turbines don't manufacture themselves. Homes and buildings don't retrofit or weatherize themselves. In our industrial society, trees don't even PLANT themselves, anymore. eal people must do all of that work." The public wants a quick fix, they want to start hearing that the economy is doing better and a focus on manufacturing will accomplish this. Additionally, there has been increasing pressure on the White House to focuses on alternative energy sources. Such a policy would gain favor with democratic and liberal environmentalists.
4. Do you consider your views to be more aligned with a classical or Keynesian approach to economic thinking? Explain. (There is no right or wrong answer). See module…...

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REFERENCE LIST

Chea S., (2010). "Manufacturers' Orders as an Economic Indicator." Associated Content February, 2010. Retrieved from  http://www.associatedcontent.com/article/2685879/manufacturers_orders_as_an_economic_pg2.html?cat=3 .

Federal Reserve bank of New York. Durable Goods. Retrieved from  http://www.newyorkfed.org/education/bythe.html#durgoods .

Hoexter, M., (2009). "Cap and Trade: An Unserious Policy Framework.. Towards a Serious Climate Policy -- Part 2."Climate Policy, Energy Policy, Sustainable Thinking, December 2009.

Podesta, J., Stern T., (2007). "Capturing the Energy Opportunity: Creating a Low-Carbon Economy." The Center for American Progress, Nov. 2007. Retrieved  http://www.americanprogress.org .

A negative consequence, however, would be increased volatility in the value of the dollar. Imports would become more expensive as well, increasing inflation and potentially compelling the restructuring of the economy. Increased currency risk -- transaction and translation -- would also create difficulties for U.S. companies operating abroad. I do not support such a proposal. Attempts to jury-rig a global currency are as impractical as enforcing Esperanto as a global language. Such a currency would be inherently unstable, as the Euro example has shown us. The constituent communities would be committed to enforcing controls on each other in order to maintain the integrity of the currency. If at some point the currency of another economy overtakes that of the U.S., it will be because that economy is stronger, larger and more stable -- fundamental market forces -- rather than as the result of a political decision.
3. a) The Fed…...

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Works Cited:

Google.com. (2010). Unemployment rate. U.S. Bureau of Labor Statistics. Retrieved April 23, 2010 from  http://www.google.com/publicdata?ds=usunemployment&met=unemployment_rate&tdim=true&dl=en&hl=en&q=U.S.+unemployment+rate

Economics
Growth The retailer sector was lately affected by the back-to-school shopping season, which did not start so well, as midprice department stores, discounters and specialty-apparel retailers announced disappointing sales results during August, which reinforced the already much debated concerns that consumers are not comfortable with the current state of the economy and are reluctant to consume, considering the shaky and uneven economic recovery.

However, luxury department-store chains managed to post significant earnings, as they benefited from the help of an important number of upscale shoppers. Still, the effects of higher gas prices and the rising value of grocery bills, combined with lackluster job growth were severely felt by moderate- and lower-income shoppers.

Michael Niemira, chief economist and director of research at the International Council of Shopping Centers feels that "There's weaker-than-expected performance," due to the fact that "there was a slowdown in spending, but some results are exaggerated by other factors,." Mr.…...

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References

1. Higher energy prices depress overall economy. Charles Stein.

Knight Ridder Tribune Business News. Washington:

Aug 6, 2004. On the Internet at  http://gateway.proquest.com.libproxy.unm.edu/openurl-url_ver=Z39.88-2004&res_dat=xri:pqd&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&genre=article&rft_dat=xri:pqd:did=000000674708321&svc_dat=xri:pqil:fmt=text&req_dat=xri:pqil:pq_clntid=2877 

2. Retailers' Sales Come In Weaker Than Expected; Soft Results Reinforce Fears About Consumer Confidence; Discounters Saw Biggest Hit. Kortney Stringer.

Economics in China (Manufacture)
There is a time and stage for all types of manufacturing and what may be seen to succeed in China is not likely to succeed in many other countries like the United States. Chinese economy has developed very fast and that has attracted attention from all over the world in the business community. This has led to a rapid increase in their foreign direct investment and share in international trade. There are continuously new businesses coming into China, trade agreements are being finalized, and a lot of foreigners are rapidly coming into China. The point where the foreign managers and the Chinese managers are meeting is being studied by many consultants. Some reasons for the growth of business in china are also due to their culture, and that is one of the oldest cultures in the world. Their culture has always had a system of client and…...

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References

Eric Wahlgren; "Street Wise" November 19, 2003 Retrieved at  http://www.businessweek.com/technology/content/nov2003/tc20031121_1964_tc121.htm 

Einhorn, Bruce. "Online Asia" October, 6, 2003 Retrieved at http://yahoo.businessweek.com/technology/content/oct2003/tc2003106_9749_tc058.htm

Newsmaker Q&A." November 21, 2003  http://www.businessweekeurope.com/bwdaily/dnflash/nov2003/nf20031119_2463_db014.htm 

Roberts, Dexter. "Is China's Boom in Danger?"

Making the punishment for such offenses an inability to access the Internet, however, begins to deprive citizens of their rights. The Internet may hold access to illegal movies and music, but it also holds a wealth of information, including blogs, news, educational information, and personal information. Depriving a person of the use of the Internet is essentially depriving him or her of access to libraries, to free speech, and to freedom of information. People who steal money from houses are not barred from living in them, nor are those who steal books forbidden from libraries. The punishment for copyright crimes via the Internet should be the same as these crimes have ever been, a fine. If one person steals another's property, the thief should have to pay; he or she should not be deprived of the right of speech and information.
eferences

"Trois strikes and you're out." (2009, April 16). etrieved…...

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References

"Trois strikes and you're out." (2009, April 16). Retrieved 21 April 2009, from The

Economist. Web Site:  http://www.economist.com/business/displayStory.cfm?story_id=13496729&source=hptextfeature

Conclusion

Each of the four economies studied suffered somewhat from the economic downturn. The differences between the severity and length of recession in each country will inevitably be affected by the structure of that nation's economy and its relationship with the international monetary system. As such, it is important that we analyze the differences between these nations and the ways in which the current economic crisis impacts their economies. e can learn why some countries are comparatively successful at mitigating the impacts of recession, while others suffer more than they probably should given their links to the root of the problem. This insight can help the players in the international monetary system to develop a system in future that is better able to manage the downside impacts of recession.

orks Cited:

Zakaria, F. (2009) the Canadian Solution. Newsweek. Retrieved October 23, 2009 from http://www.newsweek.com/id/183670

Flynn, D. (2008). Greece did too little to avoid recession.…...

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Works Cited:

Zakaria, F. (2009) the Canadian Solution. Newsweek. Retrieved October 23, 2009 from http://www.newsweek.com/id/183670

Flynn, D. (2008). Greece did too little to avoid recession. XPat Athens. Retrieved October 23, 2009 from  http://www.xpatathens.com/news/19157 

Bahree, M. (2009). Mongolia rolls with the recession. Forbes. Retrieved October 23, 2009 from  http://www.forbes.com/2009/09/22/mongolia-mining-rio-markets-emerge-elbegdorj.html 

No author. (2009). Is India recession proof? Vilekhari.com. Retrieved October 23, 2009 from  http://www.vilekhari.com/business/is-india-recession-proof/

Most economists feel that if China's currency were allowed to trade freely, it would be a whole lot more. No one can know for sure how much more, but leading economists put it in a range of 10 to 40% higher value than it is now (Davidson 2006),
By keeping the Yuan artificially low in value, China is effectively giving the U.S. consumer a discount on all Chinese exports. By doing this they are discounting their own exports. This is good for many U.S. consumers because it allows them to buy cheaper clothes and electronics along with many other items. But on the other had it is bad for U.S. manufacturers who can't compete with low Chinese prices in the end. Some U.S. manufacturers have adapted by buying many component parts at a lower cost from China. The ability of a manufacturer to adapt depends on the company and the…...

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References

Amadeo, Kimberly. 2009. "China Economy." Available at:

 http://useconomy.about.com/od/worldeconomy/p/China_Economy.htm 

Borjas, George J. And Ramey, Valerie a. 2000. "Market Responses to Interindustry Wage

Differentials." Available at:

The 2008 financial crisis had a significant and widespread impact on global economies and banking systems. Some of the key impacts include:

1. Economic recession: The crisis led to a global economic recession as financial markets collapsed and lending froze, leading to a sharp decline in GDP growth and widespread job losses.

2. Banking system failures: Many banks around the world collapsed or required government bailouts to survive, leading to a crisis of confidence in the banking sector. This also led to increased government regulation of the banking sector to prevent future crises.

3. Stock market crash: The crisis caused stock markets to....

Key Events Preceding the Wall Street Crash of 1929:
1. Post-World War I Economic Boom (1918-1929):
Unprecedented economic growth fueled by wartime production and consumer spending.
Rapid expansion of industries such as automobiles, construction, and manufacturing.
High levels of speculation and investment in the stock market.
2. Easy Credit and Speculation (1920s):
Federal Reserve's expansionary monetary policy made credit widely available.
Brokers encouraged investors to buy stocks on margin (borrowing money).
Speculation became rampant, with stocks being bought and sold rapidly for quick profits.
3. Stock Market Bubble and Overvaluation (1927-1929):
Stock prices soared to record highs, fueled by speculation and easy credit.
....