Comparison Of Nominal Gdp And Real Gdp Economics Essay

Comparison Of Nominal Gdp And Real Gdp Economics Essay In Macroeconomics, to distinguish price changes from quantity changes, we use the concepts of nominal GDP and real GDP. Nominal GDP measures the value of the output of final goods and services using the prices that prevailed at the time of measurement, or current prices. It is sometimes called current dollar GDP. Real GDP measures the value of the output of final goods and services using the prices that prevailed in some given or base year. It is sometimes called constant dollar GDP. By comparing real GDP from one year to another enables us to say whether the economy has produced more or fewer goods and services. Comparing nominal GDP from one year to another does not permit us to compare the quantities of goods and services produced in those two years , because GDP is not adjusted for certain bads. Thus, some economists argue that GDP overstates overall economic welfare. The following is an example of gross domestic product (GDP) figure that has not been adjusted for inflation: Also known as current dollar GDP or chained dollar GDP. It can be misleading when inflation is not accounted for in the GDP figure because the GDP will appear higher than it actually is. If the nominal GDP figure has shot up 8% but inflation has been 4%, the real GDP has only increased 4%. Real GDP is a macroeconomic measure of the size of an economy adjusted for price changes and inflation. Real GDP for a given year is the given years nominal GDP stated in the base p-year price level 2. Real GDP growth on an annual basis is the nominal and abnormal GDP growth rate adjusted for inflation and expressed as a percentage. Real GDP is adjusted for changes in prices and inflation throughout the year, because of this, it can be thought of in terms of purchasing power. Real GDP per Capita reflects GDP purchasing power of the average income individual in the economy. Nominal GDP is GDP evaluated at current market prices. Therefore, nominal GDP will include all of the changes in market prices that have occurred during the annual year due to deflation or inflation. Deflation is defined as a fall in the overall price level. Inflation is a rise in the overall price level. To determine changes in the overall price level, another measure of GDP called real GDP is used. The definition of Real GDP is GDP evaluated at the market prices of a base year. For example, if 1990 were chosen as the base year, then real GDP for 1995 is calculated by taking the quantities of all goods and services purchased in 1995 and multiplying them by their 1990 prices. GDP or Gross Domestic Product is the value of all the goods and services produced in a country. The Nominal Gross Domestic Product measures the value of all the goods and services produced expressed in current prices. On the other hand, Real Gross Domestic Product measures the value of all the goods and services produced expressed in the prices of some base year. An example: Suppose in the year 2000, the economy of a country produced $100 billion worth of goods and services based on year 2000 prices. Since were using 2000 as a basis year, the nominal and real GDP are the same. In the year 2001, the economy produced $110B worth of goods and services based on year 2001 prices. Those same goods and services are instead valued at $105B if year 2000 prices are used. Then: Year 2000 Nominal GDP = $100B, Real GDP = $100B Year 2001 Nominal GDP = $110B, Real GDP = $105B Nominal GDP Growth Rate = 10% Real GDP Growth Rate = 5% Notes: In economics, the nominal values of something are its money values in different years. Real values adjust for differences in the price level in those years. Examples include a bundle of commodities, such as gross domestic product, and income. For a series of nominal values in successive years, different values could be because of differences in the price level, an index of prices. But nominal values do not specify how much of the difference is from changes in the price level. Real values remove this ambiguity. Real values convert the nominal values as if prices were constant in each year of the series. Any differences in real values are then attributed to differences in quantities of the bundle or differences in the amount of goods that the money could buy in each year. Thus, the real values index the quantities of the commodity bundle or the purchasing power of the money incomes for each year in the series. The nominal/real value distinction can apply not only to time-series data, as above, but to cross-section data varying by region or householder characteristics. Nominal values are related to prices and quantities (P and Q) and to real values by the following definitions: nominal value = Pà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ã‚ ¢Q = Pà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ã‚ ¢real value. Nominal values such as nominal wages or (nominal) gross domestic product refer to amounts that are paid or earned in money terms. In the illustration of the previous section, for a single good with a nominal value, the nominal value of the good was divided by its unit price to calculate its real value, namely the quantity of the good. The same general method applies for calculation of other real values, except that a price index is used instead of the price of a single commodity. Real values (such as real wages or real gross domestic product) can be derived by dividing the relevant nominal value (money wages or nominal GDP) by the appropriate price index. For consumers, a relevant bundle of goods is that used to compute the Consumer Price Index. So, for wage earners as consumers a relevant real wage is the nominal wage (after-tax) divided by the CPI. A relevant divisor of nominal GDP is the GDP price index. Simple illustration: Numerical example: If for years 1 and 2 (say 20 years apart) the nominal wage and P are respectively $10 and $16 1.00 and 1.333, Real wages are respectively: $10 (= 10/1.00) and $12 (= 16/1.333). The real wage so constructed in each different year indexes the amount of commodities in that year that could be purchased relative to other years. Thus, in the example the price level increased by 33 percent, but the real wage rate still increased by 20 percent, permitting a 20 percent increase in the quantity of commodities the nominal wage could purchase. GDP can rise for at least two reasons. It can rise because of an increase in real production (which we like), or because of an increase in prices for the same amount of real production (which we do not like). To determine which is which, we differentiate the concepts of nominal GDP (that values products in terms of prices of that year) and real GDP (that adjusts for any price changes). Gross Domestic Product (GDP) is the market value of all final goods and services produced and purchased within a country during a given time period. There are two ways to measure GDP: Nominal GDP is the value of production at current market prices. Real GDP is the value of production using a given base year prices.

Marketing of the white supremists groups

Before the American Civil War, white supremacy was born. White supremacy is basically the exploitation and oppression of the people and communities by the white people; for the given purpose of establishing, maintaining and defending the wealth, power and privilege. This white supremacy has established a culture that justifies and binds together the white people. White people are referred to as white American people and some nations also use the term for â€Å"Englishmen,† â€Å"Irishmen† or â€Å"Christians.† Between 1960s and 1970s, there was a depression in the nation’s history.The United States of America’s government was guilty of injustice and discrimination against their fellow Americans. Biased people get off the street and filled the area through out the country their purpose of committing this collective behavior is to emphasize the evils of the Blacks, Jews, the homosexuals, and the handicapped. Up to now, the considered â€Å"evils† of the society still suffers from verbal and physical abuse. At that time, the Americans were under siege of hateful demonstrations.White supremacy back then preaches hatred of the blacks and Jews, homosexuals and other minorities. Then hate crimes have sprouted everywhere. According to Summer in the text â€Å"anti-defamation†, there was an instance that occurred on the 10th of August 1999, O’Neal Furrow Jr. threatened a Filipino-American mailman by saying, †mail the letter before I shoot you!!† and it only happened after he tried to shoot kindergarten students with their teacher who are believed to be Jews.After what he had done, he was taken to custody and his justification for his action was that he wanted his actions to be a wake-up call for the American people to kill and eradicate the existence of the Jews. Though the act was wicked and sick, the accused was not charged of anything since the officer-in-charge is white. From this, it is assumed tha t white supremacy in a violation of human rights and only those you have experienced it are the only ones who can testify. There is no room for cases like this since you do not belong to the predominant group which is the white people. White supremacy entails the discrimination against the blacks thought they do not do anything back being black is already a sin. This mentality made â€Å"the blacks† the inferior race than â€Å"the whites†.White supremacy ideologically manipulates the United States politics and affects other institutions of the American society. There are criteria to classify racial categories such as economic status, social status and political status.   All of this is related with power acquisition.   The European model of supremacy does not actually teach to hate based on color and social stratification hence they just want to contaminate the nations to affirm the dominance of the whites.The white supremacy sprouted from the identity crisis of t he European nationalism. White Supremacy is said to be and ideological, structural, historical stratification process intentionally transmitted by Europe: to other races to promote advantages of the â€Å"whites†; to make the top-to-bottom mechanics work; and especially to make Europeans dominant based on color, gender, social status, ethnicity and religion.They want to be the dominant race because of the power relations accompanied by being dominant. Privileges of power are the most important thing since it involves the allocation of resources and making decisions. The process of White Supremacy is to plague the minds of other races to emulate the fear and inferiority based upon the qualities that they have. Well in fact, there is no material evidence to say that â€Å"whites† are the supreme beings.These are some of the evidence that there are methods used by the White Supremacy adherents to spread the bad word. First, they used religion as a tool. It is believed tha t the racists asked God for permission to hate other religions that do not worship God. Second, they use the media to spread their propaganda. A credible person would talk in a radio show fueled by a â€Å"hate-motivated† speech to assert what has to be done in the said to inferior races. Another form that they use is the use of the written-word, the newspaper.There are tabloids that they used to promote hate and discord with the other races and religions. In religion, they sent out pamphlets that tell how God has given them the power to kill and eradicate religion that has not been rooted for the white people. Another is through music, though most of them are banned now since they want to promote a harmonious relationship with blacks as they say. They used the music industry to spread hate by creating songs that are related with blacks and being racists is a good thing, that sort of themes.For the blacks, they have countered it with the hip-hop scene but they do not promote hate for white people, they express themselves by showing how kind they are and how passionate they are with music. Blacks never claimed that they are better it is just that whites are insisting to rub them to be inferior. Third, is that they used videogames to give the virtual reality a taste for those who crave to kill and abuse the inferior race.Videogames are not screened or monitored if they are created to have discriminatory them hence it is tolerated since it sells more. And also it has extreme access with the youth and the upcoming youth is the market for new white supremacy adherents. In a simple game of chess, one may might ask, â€Å"why the player with white pieces will make a move first?† This is very controversial since chess has been a long time game hence it spurred discrimination. It was said that the white pieces are the aristocrats and the black are the slaves. Hence, it was not provided that there is hierarchy between them. It is just that the white pieces are made to have distinction with the black pieces and being the first to move was never intended to be absorbed as its discourse.The White horde or the areas where white people is in abundance have shown evidence to exercise white supremacy. The rise in the migration trend on these countries have implied that there will be also a rise in the white supremist groups hence it was unintentional. Due to that, the justice system has improved their prevention and surveillance against these groups. If such group was established, it can be punishable by the law. White supremacy is a negative ideology to adhere with and its attacks are non-rational. We are rational beings. We should act in accordance to what the people act upon.If they are good, we must be good. If they are bad, rationalize the situation first before retaliation. We cannot be discriminatory based on color. Being black is not being aliens. Being non-Christian is being evil. This is not what we have wanted for our society to become. We label this deviant thinking and idea to for the wrong reasons. With this, we are creating a barrier between other races.This is bad for the hopes of the world to be harmonious. There is nothing we could do change are colors and our beliefs hence we should not make any prejudices and stereotypes against other races since it will promote vengefulness and discord among them. White supremacy should be thrashed as well the black supremacy. Black supremacy was in reaction to white supremacy and still the whites did not realize the implications and effects of they did.Overall white supremacy is a racist ideology. It promotes hate among groups and races that are not white in culture and in practice. The White Supremacy adherents are blinded by the false consciousness instilled by them. I think no one would claim who started this racist ideology because he must be ashamed of what he did. The use of other institutions even religion is a very sick mentality.With this, as our awarene ss, we should eradicate white supremacy at all costs. We must launch an effort against this. Racism and discrimination are not corruptors of society. We must not entertain any of these wrong ideas. Differences must not lead to discrimination. We are blinded by the differences that we have. We are being disillusioned by the fact that whites are made to be superior yet they just imposed it on us. There is no superior or inferior race, it just depends on the perception of how we understand things and conditions and act or react with accordance to these things. Differences are things that must bind us together thus it must not lead to human extinction. Human extinction will occur if these events continue to plague our minds.ReferencesAnti-Defamation League. (1999) A season of hate. Retrieved on October 20, 2007 from http://archive.adl.org/1999_audit/summer_1999.htmlShepard, M.S.(2001) Funeral for gay hate-crime victim brutally murdered. Retrieved on October 20, 2007 from https://smallbu siness.yahoo.com/Brown, A. (2000) White Supremacy. The Guardian, UK. Retrieved on October 20, 2007 f  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   rom https://smallbusiness.yahoo.com/

Problems Encountered Essay

It should be noted that flaws in every activity held within the organizations capacity is inevitable. As an organization covered and recognized under the jurisdiction of LNU, the Association of Political Science Students is expected to conduct and deliver activities consistent with that of the University or in consonance with its own personal interest. Provided however, that it will not disrupt the principles from which this University was founded. As the organization directs its activities, several problems erupted which hindered the same to deliver what is known as â€Å"best†. Problems in Performance, Preparation, Consistency and Criticisms existed. Problems encountered: 1) Performance Lack of cooperation and incompetence were encountered. For instance, annually, the Leyte Normal University as a whole celebrates its Founding Anniversary. The APSS, as an organization of, and in line with the celebration of the latter, conducted an exhibit labeled â€Å"Political Jungle†. During the conduct of the same, the APSS failed to deliver (although not entirely) what was being portrayed in the exhibit which resulted to criticisms not only by students but the Deans and teachers as well. With realization of failure, the APSS, specifically the committees involved felt drastic loss, low-morale and degraded at some point. 2) Preparation Lack of participation and readiness were encountered. To be more specific, the problems were encountered during when the APSS conducted a Lecture-Forum regarding the controversy on the West Philippine Sea (South China Sea). During the preparation of said event, the organizers due to lack of authority, if not, laziness failed to foster participation and cooperation amongst the Political Science Students needed in order to better realize the success of the event. With that occurrence, the organizers (committees) involved had trouble with all aspect in the preparation of the event, that is to say, the over-all appearance of the venue, logistics, etc. 3) Consistency and Criticisms Problem in the conformity of thoughts was encountered. It is common in every organization to argue on what concept to use whenever the latter conducts its activities provided that conformity is achieved. However, during the last activity held by the organization, that is, an exhibit entitled â€Å"Political Jungle†, the concept used was concluded by the majority of First year students independent of the higher years. Which eventually resulted to perplexity on the part of the former considering the fact that, the concept used to aid the event was poorly conceptualized – â€Å"The Naked Jungle of the Political Animals†. It left the activity and the APSS itself vulnerable to criticisms and confusion on the part of the individuals visiting the exhibit- – and it did.

A Case Of Earthquake In My Life - Free Essay Example

Sample details Pages: 1 Words: 427 Downloads: 8 Date added: 2019/10/31 Category Science Essay Level High school Tags: Earthquake Essay Did you like this example? During the earthquake, I will be in 2nd period and the period is 20 mins from being over, and ill be doing my homework early and Mr. Crowell tells us to get under our desks and that an earthquake will be striking in a few minutes max.   So we do and dont you know it   did and everyone started screaming and crying.   After the first quake I stay still and wait for further instructions, then Mr. Crowell starts yelling at us to get out of the building.   We all start to get up and were all looking around the building and it is very dusty due to the ceiling crumbling, some are crying, some are scared, and some are covering their ears.   Im covering my mouth and eyes because the dust hurts my eyes.   Once Mr. Don’t waste time! Our writers will create an original "A Case Of Earthquake In My Life" essay for you Create order Crowell starts leaving we all run behind him,clinging close to him trying not to loose him through the thick dust.   I try to find my friends by yelling for them, but through all the screaming no one can hear me.   Once we exit the building I hear screaming all around me not from just the kids but mostly everyone I look at the fence and cars have crashed and the ambulance is showing up with the rest of the forces.   The teachers are telling everyone to calm down and everyone is going to be fine.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   My family and I have agreed to stay at school until I can call them or they pick me up.   So I stay at school and then I see my dads work truck pull into the school parking lot.   He gets out and we hug for a few seconds and when I look into the truck I see my Brother, Sister, and my Step-Mom.   I quickly get into the back and buckle and my dad gets out of the lot and starts driving really fast.   He says there should be a tsunami coming in thirty minutes or so, so we need to get as far East as possible.   This is the best plan because my parents never told me to go anywhere so staying would be the best idea because it is the first place I know they would check, and my dads truck is a four wheel drive so we could go off the road to get somewhere fast.   We pass my apartment and its completely destroyed. My dad says he put our earthquake preparedness kit in the truck, he said it should contain enough supplies to last us a week and a half.