Macro Mechanics Essay Example for Free

Macro Mechanics Essay The first chapter â€Å"Introduction† provides detailed overview of the book content. The author discusses the scope of the book, its goals and objectives, and special attention is paid to chapters’ content. David Ashby, the author of the book, argues that the key task of economy is â€Å"to coordinate the kinds and quantities of goods and services produced with the kinds and quantities that buyers want†. (p. 1) Central government planning is assumed to deal with coordination among monetary capacity and demand for output, whereas the book’s goal is to present how this process is being accomplished in market-oriented economy and in private enterprises. Ashby stresses that, for example, in the USA coordination process is automatic process meaning it doesn’t need government involvement; coordination process has evolved through the changes in interest rates, employment levels, prices and output. Ashby discusses the disturbances that trigger coordination process and highlights peculiarities of the macroeconomic coordination process. Actually, he defines macroeconomics as the study of policy methods for manipulating levels of coordination process; moreover, macroeconomics is the study of key determinants of employment levels, interest rates, prices and outputs. In this respect, the book offers original approach to modern macroeconomic analysis. The author recommends three aggregative magnitudes for examining coordination process: GDP that represents annual rates of national produced goods and services; APE that represents current rate of demand; and ASF that represents the limit imposed on annual purchase of current output. Further, Ashby stresses the importance of studying macroeconomics because it gives an excellent opportunity for becoming more informed choices instead of a voter. Thus, modern person should be able to assess quickly what he future employment prospects are, what the current macroeconomic situation is, and what actions the government can take in crisis situations. The book consists of 16 chapters and several tables that illustrate the nature of economic coordination process and its dependency on twenty-four fundamental relations. Chapter 2 provides extended definition of GDP, how it is measured why it is important for macroeconomic coordination process. Chapter 3 discusses the concept of GDY stressing that it equals GDP, but its key goal is to measure the incomes produced during the national output production. The next chapter highlights the concept of APE and discusses its dependency on employment, output, interest rates and prices. Chapter 5 provides definition of ASF and explains its key fundamentals and its relations with income and interest rates. Chapter 6 discusses the third aggregative multitude – ADF – and examines its relations with ASF. Their interplay is funding adjustment. Chapter 7 and 8 examine the â€Å"microeconomic foundations of the output-price adjustments that commence whenever APE and GDP are unequal†. (p. 6) employment levels, interest rates, prices and output make coordination process function effectively through changes and restoring equality. Chapters 8 and 9 discuss the causes and reasons of inequalities among ASF, APE and GDP identifying inequality situations. Chapters 11 and 12 concentrate on the monetary and fiscal policy used for manipulating the macroeconomic coordination process. Chapter 13 and 14 address induced business cycles, international and foreign trade, income policies. Special attention is paid to policy hurdles that may lead to liquidity traps, macroeconomic inconsistency or timing lags. Chapter 15 examines trade impacts and trade restrictions. The final chapter draws relevant conclusions about macroeconomic coordination, and provides fresh look at exchange rate regimes and exchange rate determination in relation to domestic fiscal and monetary policies. Chapter 2: Summary The second chapter â€Å"Output† provides extended definition of GDP or Gross Domestic Product, prices level indexes, and discusses the ways how to adjust Gross Domestic Product. Ashby writes that a nation has three limited factors of production – resources/and, labor and capital. Firstly, resource/land includes not only the land itself, but also animals, mineral resources, vegetables that are obtained from the land. Secondly, labor resource is human work effort. Thirdly, capital includes everything that refers to producing goods and services as, for example, machines, buildings, tools, processed ingredients and manufactured parts. Ashby writes that production processes â€Å"combine quantities of resources/land, labor, and capital to create a wide variety of goods (i. e. , merchandise) and services†. (p. 10) Nevertheless, the negative moment is that existing technologies and availability o factors limit what the nation is able to produce. Therefore, Gross Domestic Product or GDP is very important for macroeconomic coordination process as it helps to calculate what the nation can produce and what benefit it will give to the nation. GDP is defined as â€Å"the value of the total output of goods and services produced within a country during a year’s time†. (p. 11) The market values are added together for calculating the GDP. In particular, the Department of Commerce puts together the actual average selling prices and the number of units produced. Nevertheless, it is necessary to remember that the Department of Commerce has to deduce cost of any foreign materials and services, as well as materials and services that have been measured as GDP of other producer. Ashby writes that â€Å"price shall refer to the market value per unit of the product minus any multiple counting of costs as well as any costs or profits owed to entities outside of the country†. (p. 12) Of course, data problems are immense as calculating GDP is a complicated process even for professionals. No errors are allowed as GDP reflects national stability and economic growth. For example, one of the problems is lack of data and, therefore, some of the products may not be included into GDP calculations. Further, the author writes that cost and market values are not the same. The key difference is profits meaning that market value equal cost value plus profit. This peculiarity should be remembered to avoid errors in calculations. Moreover, problems are associated with unit price as well because for defense, fire, education and policies services no unit price is provided. There is no surprise that the Department of Commerce isn’t allowed to determine the values of either goods or services produced for own use. The Department of Commerce has also to measure the value of the output using prevailing prices. As far as the level of prices and costs are changing, the magnitude of prevailing prices is changing as well challenging accuracy of the calculations. Ashby indicates that â€Å"a suitable measure for the volume of domestic output must change only when the volume of domestic output changes and must change in the same direction and by the same percentage as does the output value†. (p. 14) Finally, price level indexes are used for removing the influence of cost and price changes. It is know that GDP represents the volume of goods and services produced within one year; otherwise, GDP represents the annual the annual rate displaying country’s produced output. Of course, it is necessary to remember that GDP is adjusted value meaning that changes in level prices result in changes in the value of the output. Chapter 3: Summary The third chapter stresses the differences between gross domestic product and gross domestic income. The only source of income is, actually, production. The author mentions that one should not misuse ‘gross domestic product’ and ‘gross domestic income’ as they different concepts. In particular, gross domestic product is the measurement of production, whereas the gross domestic income is the measurement of income. One more moment to remember is that their magnitudes are equal: if gross domestic product is changing, gross domestic income is changing as well in the same amount and in the same direction. Ashby underlines that â€Å"there can be no change in gross domestic income without a matching a change gross domestic product†. (p. 24) Further, the author discusses three important notions in the chapter. Firstly, it is necessary to understand that gross domestic product is measured as the output is produced, and it identifies the values of the products that are expected to be sold either at domestic or foreign markets. It means that some products may appreciate in market values, whereas other may deteriorate awaiting the sale. Therefore, matching adjustments should be definitely made for identifying both gross domestic income and gross domestic product. Secondly, money and income are two different notions; they are not the same thing. Income is defined as the result of money, and money is argued to be a messenger that delivers humans the income. Nevertheless, income can also be received in non-money form as, for example, insurance policies, retirement packages, etc. Interestingly, Ashby recommends distinguishing between ‘people earning income’ and ‘people earning money’. Income is generated by producing goods and services, but income doesn’t generate money. New income is often generated by the old money. Thirdly, Ashby underlines the role that credits are playing in modern economies. The role of credits is critical to economic development and country’s prosperity. Credits give producers an opportunity to produce goods and services, to sell their goods before they are to pay the bills, etc. The chapter highlights the concepts of shared incomes and shared sales. In particular, the author discusses the shares of gross domestic income that are received for producing gross domestic output. The role of specialization is underlined as well. Ashby writes that modern economies of well-developed countries enjoy high standards of living due to specialization. Actually, specialization involves â€Å"structuring production processes in ways that enable workers and machines to restrict their efforts to a small number of tasks for which they are particularly well suited†. (p. 26) However, the key negative moment is that specialization may result in reduced self-sufficiency. Specialization requires earnings to be paid in money form for purchasing goods and services. The author defines federal debt as â€Å"the total of all Treasury securities that have been issued but have not yet matured†. (p. 43) For example, the federal debt of the USA in 2008 was more than $9 trillion. Of course, the debt is huge and the country has to develop fiscal policies to reduce federal debt and to prevent its re-occurrence in the future. Budget deficits may be avoided by levying sufficient tax increases and generating adequate national revenues. Ashby blames federal government for doing nothing to reduce debt balances. As far as the government never pledges collateral, it may borrow any necessary time. Therefore, sovereign federal government can’t go bankrupt. As far as the US is able to borrow, its national debt is increasing and increasing. The tendency is negative because when the time to pay credits comes, what will the government do?

Essay --

Executive summary This report discusses how management prepares them to anticipate change in the business environment in the long run and short run too. Change is very important for each and every organization in today’s world because world today has become a daily changing place and in order to keep pace with the changing world we need to bring about a constant change in our organizations, too. There are certain methods by which the senior management can prepare them for anticipating the need for change. The first method is by doing a detailed research and studying for the change. The second method involves having the awareness about the ever changing needs of people and the change process. The third method discusses about having a complete understanding about the compulsion and urgency for change. Lastly, being mentally tough for the change process is the fourth method to prepare the management for anticipating change in the short and long run. Introduction: Change is a constant and ingoing process in an organization. Change can be defined as one of the many characteristics of organization development. The change efforts are based on the analysis of particular problems and their purpose is to attain specific goals. Change is not an easy thing to implement and anticipate. It is a difficult and a challenging process; therefore the management has to take certain steps in order to prepare them for antedating the change in business environment. The senior management can prepare themselves for a change through studying and researching about change, by having a sound awareness about the change process and by understanding the necessity of change and by being mentally tough about the change process. All in all, a constant change is ... ...reparing them for anticipating the need for change that will be necessary for the organization. This is most applicable for the long run change because if the senior management is working for the environment today they will be efficient to keep a check on the long range changes too, that are being forecasted for the future. Conclusion: Change is required for all types of organizations and in every field. Whether the change is long range or short range the senior management will have to prepare them for the change process. The factors that can prepare the senior management to anticipate change are consciousness about the change, research and study, identifying the necessity for change and the mental toughness for change process. The senior management must possess these factors in order to prepare them for anticipating the long range as well as the short range change.

Charlotte

From the ginning of the story, it was already manifested how friendship and love became the foundation fifths novel, due to Fern's love for Wilbur he was saved from the hands of Mr.. Arable who intends to take the life of Wilbur. Despite Fern being only a little girl, she thought of Wilbur as her own child, whom he cared for and love so much. Aside from this, one of the greatest proofs of how important friendship is was depicted between Charlotte and Wilbur. Without Charlotte help, Wilbur would be butchered in the slaughterhouse.In addition, it is exhibited in the story, that even though Charlotte life was nearing its end, she still thought of helping Wilbur, together with Templeton, in the fair to provide moral support for her friend. Although Charlotte passed away in the end, her life became more meaningful and happier by helping Wilbur. Wilbur was not only saved from being killed, but what Charlotte woven words did was more than that, she proved to Wilbur that he is important and that he is loved which I believe is the best feeling anyone could experience.Lastly, before Charlotte die she entrusted her egg sac to Wilbur since she cannot make it back to the barn anymore, and s a loyal and grateful friend, Wilbur not only took the egg sac back to the barn but even cared for the three spiders who were left behind and their succeeding eggs. Setting This story took place in rural America at the Seersucker's barn. The story involved many seasons, although Wilbur was called a spring pig meaning he was born during springtime, most of the story happened during summer and fall. The barn was old yet very large as described in the story.This barn feels very welcoming and comforting as it smelled mostly of hay. Wilbur new home was at the lower part Of the barn, beneath the cows. Since according to Mr.. Seersucker's viewpoint, manure pile is great for pigs as they need mud to keep them warm and comfortable. Characters Wilbur – He is the main character in the book Ch arlotte Web. He is born as a runt of his litter, which caused Mr.. Arable to kill him. Fortunately, he was saved by Fern's love for him. He is very sensitive and vulnerable, yet, with the love from his friends, he was able to live life again better than before.Most of the times he feels insecure and emotional but with his friend Charlotte, he was able to move on to this and gain a little faith in himself. He undergo life's as and downs but with his friends, especially Charlotte, he was able to surpass it all and be happy in the process. He is forever thankful for Charlotte?s love and as a form of showing gratitude for this he looks after her kids. Charlotte A. Cavity – She is a barn spider who lives above Wilbur pigpen, and often portrayed as a heroine of the story. She is cool, collected, practical, talented, clever and loyal to her friends.She played an important part in Wilbur life, often perceived as a mother of Wilbur. She gave all her best effort even in her last day ju st to save Wilbur life and show people who Wilbur really is. Mr.. John Arable – He is Fern's father, who wants to kill Wilbur at first but due to Fern's objections, he spared Wilbur life. He let Fern take care of Wilbur but greatly stand with his decision to sell Wilbur at five weeks old. He is a practical man but at the same time loving especially when it comes to his daughter.Fern Arable – She is an affectionate little girl who saved Wilbur life from an untimely death and the only human being who can understand what animals say. She became a mother to Wilbur until it was time to sell him to his uncle. Despite this, she still visits Wilbur a lot and even kittens to the stories of barn animals. As, the story progresses, she grew up and moved away from the barn where she became more interested with Henry Fussy than Wilbur. Avery Arable – He is Fern's elder brother who is boisterous, aggressive, adventurous and carefree. Unlike Fern, he often wants to kill animals and rule nature.He is also a performer, somewhat like a clown at some point, and works hard in the story. Mrs.. Arable – She is the mother of Fern who at most times is overreacting especially when it comes to her daughter. She is very worried on how Fern thinks that animals can talk and hat most of her time is spent with the animals in the barn. She always try to push Fern to mingle with persons of his own age rather than visiting the barn. Mr.. Homer Ackerman – He is Avery and Fern's uncle and the proprietor of the farm near Rabble's residence. He raises animals for a living. Moreover, he bought Wilbur for six dollars from Fern.He is the saw and believed the words woven by Charlotte about Wilbur and decided not to take him to the slaughterhouse. He benefited from this, since Wilbur became famous and in return he cared more than ever for his animals. He entered Wilbur at a intention in the fair and won twenty-five dollars when Wilbur was granted with a special award. Mrs.. Edith Ackerman – He is the wife of Homer Ackerman who spends her time mostly in the kitchen. She is also the only person who thought that the spider, Charlotte, is the one who is truly amazing than the pig, Wilbur, described by the woven words.Luray – He works at Ackerman who also depicted what a very industrious person truly is. He was the first to see the web of Charlotte and when Wilbur became famous, he then took care of him extra carefully. He is very sensitive with Wilbur especially he does not eat his food. Dry. Dorian -? He is the family doctor of the Rabble's family. He told Mrs.. Arable that Fern might really hear animals talk because there are a lot of things that could not be explained by Science. He even attributed Charlotte web as one of the proofs of how wondrous the nature is. Minister – He is the first person to whom Mr..Ackerman shared the story regarding the writings in the web. He did not really believe him and even thought of Mr.. Acke rman as unusual. Henry Fussy – He is not really a very active character in the story' but was described s one to whom Fern is very fondled of. Templeton -? He is a rat that lives in Wilbur trough. He is portrayed as rather selfish who is also a glutton. Moreover, he would only help Charlotte and Wilbur when they would offer food in return. Nevertheless, he played an important role in finding words to describe Wilbur and in retrieving Charlotte egg sac.Lamb – He is an insensitive Lamb who refused to play with Wilbur and continued to humiliate him by belittling Wilbur saying that pigs mean less than nothing to him. Goose – He likes to tell Wilbur what he should do which most often sends Wilbur into ruble. She is a great mother to her kids and suspicious of the intents of Templeton, so she never lets him near her young ones. Gander – He is the partner of Goose, who like her is also protective of his children. He is brave and strong but quite into violence wh en it comes to Templeton and his goslings. Uncle – He is the large spring pig who competed with Wilbur in the County Fair. He also received a medal for his big size. Joy, Arena and Nellie – They are some of the children Of Charlotte from its egg sac. These spiders are the ones that stay with Wilbur on the barn and became friends with him. Lot Exposition: A new litter of piglets is born on Mr.. Rabble's farm, however one of them is a runt which is deemed to small and weak to be kept on a farm. Fern, the daughter of Mr.. Arable, pleads his father to let the pig live and let her keep it as a pet. Mr..Arable, who loves her daughter so much, gave in to the wish of his daughter and spared the pig. Fern was able to keep his pet, which she named Wilbur, for a few weeks until it was sold to his uncle, Mr.. Homer Ackerman, for six dollars. Rising Action: Although Wilbur felt lonely upon leaving Fern, he soon adjusted in the farm ND made some friends, especially Charlotte whom he mostly depends on. Fern, despite selling Wilbur to his uncle, still cares for the pig and visits him often. Fern, like Wilbur, also made some friends and even listens to their stories.Wilbur became very happy and carefree. He was constantly taken care of and fed slops that he wanted. Until, one day, he received a news. Climax: The lamb then tells Wilbur that Mr.. Ackerman is fattening him up for Christmas dinner. Much to Wilbur dismay, he will soon be brought to the slaughterhouse. This news cause distraught to Wilbur who is already so pappy in the barn and does not want to end up killed for Christmas. Falling Action: Charlotte then assured that she, together with some of their friends, will do anything to save Wilbur.She then weave words into her web, describing Wilbur greatest qualities and praises to him such as â€Å"SOME PIG! ,† ‘TERRIFIC,† â€Å"RADIANT' and so on. This gained attention from people all over the county, which made Mr.. Ackerman rethink of w hether Wilbur should still be brought to the slaughterhouse. Mr.. Ackerman then promised that if Wilbur wins the blue ribbon in the County Fair, he would never be turned into a ham for Christmas. Charlotte became worn out due to this work but still decided to go to the County Fair and help Wilbur win the contest.She then weaves the last word for Wilbur and then goes to work on her egg sac which will hold over five hundred eggs. Resolution: Wilbur anxiously waited to see who won the prize. Unfortunately, his rival, uncle, won the blue ribbon for being the biggest pig. But to everyone's surprise, Wilbur received a special prize for being a terrific and radiant pig! Unfortunately, Charlotte reached the end of her life span and was not able to be with Wilbur after his triumph nor see her children grow. As a sign of irritated for everything that Charlotte did for Wilbur, he vowed to take care of her children.To honor Charlotte, Wilbur hangs his medal on the nail in the doorway where Char lotte web used to be. When the egg sac hatched, most of the new born spiders flew away to find their own homes, but three of them, Joy, Arena and Nellie, stayed on the barn with Wilbur. Wilbur became good friends with them, much to his delight. Year after year new spiders are born to replace the old one but no one was able to match and replace Charlotte in Wilbur heart. Us Mary One morning at the breakfast table, eight year Old Fern sees her father leave he house With an axe and asks her mother where he's going.Her mother delivers the shocking news that Mr.. Arable is going out to kill a runt that was born the night before. Fern chases her father down and persuades him to spare the runt, telling him that it is unjust to kill a piglet just because it is small. Moved by his daughter's plea, Mr.. Arable decides to give the runt to her to look after. Fern names the piglet Wilbur and looks after him like a baby, pushing him in her pram alongside her doll and feeding him with a bottle. At five weeks old Mr.. Arable insists that Wilbur is sold and he goes to live in theAckerman barn down the road. Wilbur initially struggles at the barn because he misses Fern so much but soon he becomes acquainted with new friends, the best of whom is a lady grey spider called Charlotte. Wilbur is fascinated by Charlotte, although to begin with he is slightly suspicious of the way she catches her food – he doesn't like the idea that she spins bugs in her web and sucks their blood. He soon realizes that Charlotte is everything but cruel and bloodthirsty and that her method of eating is entirely necessary for a spider.Wilbur is complete happy during the summer days – Fern comes to visit and is new friend tells him exciting stories and has the patience to try and coach him about how to spin a web (although she knows fine well he will never be able to) but one day he gets some terrible news that puts an end to his carefree attitude. The sheep tells Wilbur that Mr.. Ackerman is fattening him up for Christmas dinner and Wilbur is distraught – he is so happy on the farm and doesn't want to die. Charlotte calms him down and promises him that she won't let him be killed. She hasn't worked out how to save him yet, but she is determined that she will.One morning as Curvy pours Wilbur slops, e notices Charlotte twinkling spider web in the morning fog. The words ‘SOME PIG' have been weaved into the web. Luray is gob smacked and utters a prayer. He quickly tells Mr.. Ackerman who is equally amazed and soon the news spreads near and far. Worried that people may be getting bored of ‘SOME PIG', Charlotte asks Templeton the rat to aid her in finding more words to write in her web. Knowing that if Wilbur is killed he won't have access to his slops, Templeton reluctantly scavenges for newspaper clippings to help Charlotte.The next word she writes is ‘TERRIFIC' and after that, ‘RADIANT. ‘ Meanwhile, Mrs.. Arable is concerned that Fe rn is spending too much time down at the barn and becomes even more alarmed when her daughter tells her about Charlotte and the stories Charlotte tells. Mrs.. Arable decides to go and see Dry. Dorian to ask him what he makes Of Fern thinking the animals can talk and what he makes of the mysterious writing in the web. Dry Dorian is very calm and rational and says that the real miracle is not the writing in the web but the fact that a spider instinctively knows how to build a web without any tuition.He says that it is quite possible that animals can talk and that the season that adults cannot hear them might be because they talk too much to hear what is going on in nature. With the news of Seersucker's famous pig spreading, the Ackermann and Arable decide to take Wilbur to the County Fair. Charlotte agrees to go too although she is feeling tired and soon has to build a sac to hold her eggs. At the fair, Charlotte is disappointed to see that beside Wilbur pen is a much larger spring pi g called Uncle. Knowing he is fierce competition, Charlotte decides to spin another web and once again Templeton is sent off to find a word.The adults and children enjoy homeless at the fair and Avery and Fern are particularly excited that they are allowed to go off without their parents all afternoon. Fern spends all afternoon with Henry Fussy and they go on the Ferris wheel together. For months after, Fern will look back nostalgically at her time on the Ferris wheel with Henry. Before nightfall Charlotte weaves her web with the new word ‘HUMBLE' written into it and throughout the night she makes her egg sac. In the morning the Ackermann and Arable See the web but they also notice that uncle has a blue tag on his pen – he has already won first prize.Mr. Ackerman ignores the tag and tells everyone to buck up and give Wilbur a buttermilk bath. Everyone who comes to Wilbur pen has something good to say about him. Suddenly, over the loudspeaker a voice is heard asking Acke rman to bring his famous pig to the judges' booth for a special award. Wilbur is awarded a medal for being phenomenal and completely out of the ordinary and Mr.. Ackerman is given $25. Since the writing first appeared in the web, the miracle has been on everyone's mind. After the press photos and the commotion, Wilbur is returned to his pen. Wilbur notices thatCharlotte is quiet and looks unwell. She tells him that she is content now that she knows he is safe – she knows Mr.. Ackerman will never harm him now, but she tells Wilbur that she is failing and will be dead in a day or two. Panicked and distraught Wilbur races around the pen, begging Charlotte to come home with him, but she hasn't enough energy to move. Wilbur decides to take Charlotte egg sac and promises Templeton first choice of his slops if he retrieves the sac. As Wilbur carries the sac in his mouth and is led into the crate, he winks at Charlotte and she musters all the energy she can to wave dobby.

Foster Care Essay - 852 Words

Foster Care System Many people, sometimes, identify foster care as an unsuccessful attempt to help a problematic child. Many people judge foster children because the children have had unacceptable parenting, or other events in their lives that affect their behavior. There are some people whose thinking process about the foster child will turn out the same exact way as their parents. Foster care has its good benefits, as well as its bad ones. People may say foster care is a bad things because it affects the child emotional and possibly physically. The child may start to develop an act of abandonment, doubtfulness, and lack of self ­confidence, due to the fact he/she is being taken away from his/her mother/father or have been through a†¦show more content†¦Although the option of getting his/her child back home is a good one, some parents do not like to recover, so that leaves the option of adoption. The thought of adoption has generally given the natural parent motivation to want to bring his/ her child back home (Fein, 156). The reason why parents get motivated is due to the fact of the thought of losing his/her child. I know if I was a parent and had my child in foster care, that I would do anything and everything to get my child back. People get this thought and they think about what they can change even if it has to do with sacrifices, and they change their life around for their daughter/son. Also with adoption, it â€Å"can provide a permanent home for a child† (Fein, 156). While having a permanent home to live in also helps the child with adversity. https://pwc.pearsoncmg.com/pwc-ui/feedback.html?sids=urn:udson:pearson.com/xl/highered:user/39485651 1/2 11/10/2017 Pearson Writing Center - Student Content People face adversity every day, and the main things behind that are having someone to help the child get through it. 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