Macroeconomics

Running Head : NameUniversityCourseTutorDate technological advancement has been realized in virtually all aras of production . In the US the annexd exercising of computers has conduct to solid growth of productiveness . Productivity is the more or less valuable statistic used to determine the overall economic eudaimonia of a country . Growth in productiveness indicates that there is improvement in the brio standards of the citizens and also more subscriber line opportunities in the job market . Due to this effect , the agency role of computers in the US productivity is expected to summation in the near future . This is due to the fact that most(prenominal) citizens and specially those living below the poverty line would interchangeable to make love equal health standards as sanitary as living standards w ith the rich (Chi bella Flaschel , 2000In the orbitual shine diagram , prudence is dissever into two smashs . The first one deals with production of goods as well as services sequence the second dismantle deals with their consumption . Circular return diagram is used by the economics to determine economic growth . Leakages from the eyeshade current diagram is the income not spend on goods that are domestically produced . Examples of leakages allow savings , imports and taxes . Injections into the circular rich stop diagram are the expenditures that are added to the expenditure on the circular flow . Examples of injections allow in investment , exports and government exportsWhen the circular flow is at proportionality , the leakages from the circular flow equal the injections into the circular flow (Chiarella Flaschel 2000 . The circular flow therefore remains the same in surface . However if the injections into the circular flow exceed the leakages from the cir cular flow , thus economic prosperity is wi! tnessed while if the leakages exceed the injections then there is a recession in the prudence growthTechnological exchange in certain industries screw lead to unemployment . For instance , launching of computers and networking in banking industry can lead to departure of jobs by many tellers and cashiers .

miscellanea in technology can drive along reduction in the number of workers needed with item skills . other example is of car industry where car workers can loss jobs with introduction of robots . This leads to unemployment which is specifically know as scientific unemployment (Chiarella Flaschel , 2 000 . Change in technology can lead to increase in the rate of employment through increasing productivity . add-on in productivity creates a stable saving and more job opportunities where people can secure jobsChina is rank in the fourth position in the existence s economy while US takes the lead . Japan and German go with in the second and ordinal positions respectively ( HYPERLINK hypertext transfer communications protocol /www . chinadaily .com http /www .chinadaily .com . However , due to China s changes in flip rates , it is believed that China is likely to become the world s third economy , hence surpassing German . Technological advances claim contributed to an increase of or so 11 .4 of china s GDP and about 18 .5 industrial output rateIncreased productivity has however led to a slight rise in the degree of unemployment in China...If you want to get a full essay, order it on our website: BestEssayCheap.com

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