Macro & Microeconomics Questions Assignment Example | Topics and Well Written Essays - 1000 words

Macro & Microeconomics Questions - Assignment Example In nominal terms, the projected gross domestic product would either be above the projected value or below the value. This where an output gap exists in the difference between projected gross domestic and the actual gross domestic product or actual output. If all calculations and estimations were right, then output gaps that produce positive or negative values should be of great concern to economists and be the basis for decision making. They should also give a source of concern to economists and predict the trend of macro and micro economic growth. On the whole, an inflationary gap, which is a representation of positive output gap measure, is an indication of growing demand over supply and subsequently an indication of inflation (Lipsey and Chrystal, 2007, p. 423). A recessionary gap, which is on the other hand a representation of negative output gap, indicates deflation in the economy (Lipsey and Chrystal, 2007, p. 423). For the year 2011 and 2012 therefore, the output gap cannot be brushed over easily without concern for worry. This is especially because in most jurisdictions of global economic giants such as the United States and United Kingdom, the output gap was said to be negative, indicating a recessionary gap (Thoma, 2012). In fact apart from deflation, there is the concern over unemployment when a recessionary gap is experienced. Unemployment should be a major cause for concern for a number of reasons. In the first place, the recessionary gap is an indication that because a lot of people were not in employable positions, the State could not make good of their input into the economy and so their part of the ratio of input in gross domestic product to balance the output gap was missing. The government is denied fiscal inputs from unemployed citizens because due to their lack of jobs, the government is denied important tax revenue from them. So apart from the fact that unemployment affects the lives of the unemployed by making his living conditions extrem ely difficult; the government also has a resulting effect. One other cause of concern is for government to be forced to repackage future budgets in such a way that aims at attracting and creating more jobs. What this means is that other government expenditure are always affect by output gap values when they create negations. A major justification in the relationship between recessionary gap and unemployment is given in the Okun’s Law, which states that â€Å"It states that for every one percent increase in unemployment above a "natural" level, that GDP will decrease by anywhere from two to four percent from its potential† (Hill, 2012). REFERENCE LIST Hill A, 2012, What is Okun’s Law? Wise Geeks. [Online] http://www.wisegeek.com/what-is-okuns-law.htm [May 17, 2012] Thoma B, 2012 The Zero Lower Bound and Output Gap Uncertainty [Online] http://economistsview.typepad.com/economistsview/2012/05/the-zero-lower-bound-and-output-gap-uncertainty.html [May 18, 2012] Richa rd G. Lipsey and Alec Chrystal. Economics. Oxford University Press. 11th edition. January 2007. 2. Examine whether the allure of the developing world to multinational enterprises has been affected events over the period 2011/12? In recent times, economic statistics show that there has been a developing situation whereby most developing nations are aligning themselves to international enterprises in terms of economic trade (quote). Generally, when there is such an enterprise, we have the formation of a multinational ent

Consumers' experiences of stigma Essay Example | Topics and Well Written Essays - 2000 words

Consumers' experiences of stigma - Essay Example The same research also found out that at least 450 million people in the world suffer from mental health problems (Thompson and Thompson 1997, p.6). Another research also established that at least one in every 12 people suffer from depressive disorders. Like any other disease, a majority of those suffering from mental health disorders are capable of recovering fully when subjected to the right treatment and management and live a normal life like any other person. However, this is only possible when such people are helped at early stages. However, since people with mental illnesses cannot make rational decisions regarding their life, it is important that they receive the best care and physical and moral support from friends and families to enable them manage their health conditions. Nevertheless, research indicates that a majority of those experiencing mental health problems tend to experience strong social stigmatization from those who help them manage their health conditions because of their mental status. Byrne (2000) defines stigma as a sign, discredit, or disgrace, which separates a person from the rest. In other words, stigma is the negative view of someone based on his or her condition or status. Stigma is always accompanied by discrimination, since those who are experiencing stigma experience discrimination at the same time. Stigmatization is not good as everyone irrespective of mental status need equal treatment from others (Pande 2009). This is because stigmatization is likely to worsen the condition of the person thereby hindering recovery. Research has also shown that stigmatization of people with mental illness has many effects on the person being stigmatized (Thompson and Thompson 1997, p.8). This paper will explore the sources and effects of stigma for people experiencing mental health problems. To begin with, Corrigan and Watson (2002, p.16) argues that patients with mental disorders suffer doubly. This is because whereas they struggle to cope wi th the symptoms and disabilities occasioned by their health status, they also face the challenge of stigmatization that results from misconception regarding their mental illnesses. Research indicates that stigmatization effects adversely affects people with mental illness and acts as one of the chief barriers to their recovery process. Study has also shown that stigmatization against people with mental illnesses is real in the society (Thompson and Thompson 1997, p.6). This is after a research found out that millions of people with mental disorders experience stigmatization. The research found out that close to nine out of ten individuals with mental health disorders reported having been stigmatized and discriminated because of their mental health problems. Such people also reports having suffered negative consequences as a result of stigma and discrimination. To make matters worse, Coubrough (2008) also found out that stigma is being extended even to those taking care of people wit h mental health problems. As a result, this has made people shy away from taking care of people with mental health disorders. During the research, Coubrough (2008) noted that stigma originated mainly from immediate family members of the mentally challenged, which stood at 36%. This was followed by employers at 35%, 31% from neighbors while friends posted the least at 25% (Coubrough 2008). This is a clear indication that the mentally chal