Gross Domestic Products Essay Example | Topics and Well Written Essays - 1500 words

Gross Domestic Products - Essay Example When wage increases it would yield to higher production costs, thereby producing higher prices of goods and services and also increases the inflation rate. To station an equilibrium, unemployment rate must be consistent with the full employment rate. The interaction of supply and demand is a vital part of macroeconomics, consumer’s ability to adapt price changes and employers increasing the prices of the commodity may have several implications triggering the either inflation or stagflation. If consumers are cannot keep pace on the increasing price commodities, inflation may occur, however if employers are passing their labor cost index on consumers aiming to generate profit through price increase on commodities yet consumer can still cope up with the changes, stagflation occurs, where business did not gain anything and yet did not have any single loss. To illustrate further, we have to examine the country’s GDP of two of the world’s most prosperous nation, Austra lia, and United States. For over the past years, Australia’ economy has displayed worthily, however in 2006, it began to decline yielding only 2.5 % in real GDP. Drought, inflation, high oil prices, and economic deceleration attributed to the decreased in real GDP. (Economic and Social Survey of Asia and the Pacific 2007). Domestic demand brought for the country’s thrust. Domestic demand comprises of business investment. High capacity utilization and high corporate profits served as a catalyst for the growing business investment in Australia.... When wage increases it would yield to higher production costs, thereby producing higher prices of goods and services and also increases in the inflation rate. To station an equilibrium, unemployment rate must be consistent with the full employment rate. The interaction of supply and demand is a vital part of macroeconomics, consumer's ability to adapt price changes and employers increasing the prices of commodity may have several implications triggering the either inflation or stagflation. If consumer's are cannot keep pace on the increasing price commodities, inflation may occur, however if employers are passing their labor cost index on consumers aiming to generate profit through price increase on commodities yet consumer can still cope up with the changes, stagflation occurs, where business did not gain anything and yet did not have any single loss. To illustrate further, we have to examine the country's GDP of two of the world's most prosperous nation, Australia and United States . For over the past years, Australia' economy has displayed worthily, however in 2006, it began to decline yielding only 2.5 % in real GDP. Drought, inflation, high oil prices and economic deceleration attributed to the decreased in real GDP. (Economic and Social Survey of Asia and the Pacific 2007). Domestic demand brought for the country's thrust. Domestic demand comprises of business investment. High capacity utilization and high corporate profits served as a catalyst in the growing business investment in Australia. Capacity utilization refers to the amount pf physical capital available to firms that is in use. Firms are given ample stock of capital equipment such as machinery, office spaces, factories, computers and telecommunications as

Islam in America Essay Example | Topics and Well Written Essays - 750 words

Islam in America - Essay Example In early days of Islam in America people from Arab countries and Asian countries moved alone as well as with their families to America. They came purposely to have good earning from the America and planned to return to their home countries, but many of them had become the part of the land where they were earning. Muslim migrants were not able to make full conversation in English language in early days and preferred to work as labor and the peddling in their new living places of America. They worked as cheap labor for not having the proper skills and language barriers. In the early days of Islam in America, Muslims felt difficulties aroused from cultural differences, and low-level technical experience. American Muslims faced social challenges as their rituals differed from Native Americans. Muslims required religious institutions and prayer places. The Muslims were not entertained in educational institutes and business organizations to perform their daily prayers. The fasting in the month of Holy Ramadan has no accommodation for the American Muslims. The initial Muslim migrates tackled these problems with courage that maintained their identity as a Muslim in the community. The American Muslims were shifted from other countries, and they started their small businesses like coffee shops, restaurants, bakeries and small type of grocery stores. Traditional dishes of Muslims are well known among the communities living in America. With the passage of time, some of the famous Arabian dishes like Shawarma, and Tabular became famous among all communities o f The United States. The people other than the white Americans are commonly called ‘colored’ due to a little darker color. In the early 1930s, Muslims of Lebanese established a praying place called the Masjid or Mosque in the little Town Ross. It was the first Mosque built in America. The second Mosque was built in the Rapid City of Lowa. An Islamic center was constructed in 1914 in the Michigan City, Indiana.