Running The British Economy Essay - 1495 Words

Running The British Economy Introduction ============ A study of economics in terms of whole systems especially with reference to general levels of output and income and to the interrelations among sectors of the economy is called macroeconomics. Macroeconomics is concerned with the behavior of the economy as a whole—with booms and recessions, the economy’s total output of goods and services and the growth of output, the rates of inflation and unemployment, the balance of payments, and exchange rates. Macroeconomics deals with the increase in output and employment over long period of time—that is economic growth—and with the short-run fluctuations that constitutes the business cycle. Macroeconomics focuses on the economic†¦show more content†¦Tax Rate -------- â€Å"A compulsory contribution to state revenue, levied by the government on personal income and business profits or added to the cost of some goods, services, and transactions.† Oxford Dictionary This includes just income tax. Which is a tax levied directly on personal income. Value added Tax =============== A tax on the amount by which the value of an article has been increased at each stage of its production or distribution. For example if we go out in market and buy some thing we pay some amount of tax on our purchase that is called value added tax. The Money Supply ================ It means that how much government is floating cash in the economy from its stock. Governments usually increase the cash flow in order to attain the high economic growth. Because when government float cash in the market, it means that people can get the cash at low interest rates, so they can borrow in order to achieve their financial goal and this all activity results in a boast in economy. In order to understand the results we must know what all the used symbols and abbreviations means, so here is the chart: Before Taking Over ================== Before I took over economy inflation was high and was on the rate of 4.35, and whole economy’s actual production was on 446, which is less then the expected production. And unemployment was on 6.47. There was generally distrust among people on theShow MoreRelatedHow successful have the British Government and the Bank of England been in running the British Economy over the last 2 years?2349 Words   |  10 Pagesï » ¿ ECONOMICS FOR GLOBAL BUSINESS Question (Part A) How successful have the British Government and the Bank of England been in running the British Economy over the last 2 years? Introduction This essay will demonstrate the measures of success that the British Government and Bank of England have delivered for the periods of 2010 and 2011. In order to achieve this outcome it was first necessary to briefly describe some background to how the Bank of England became so involved and how theirRead MoreEssay The Role of African Americans in the Revolutionary War697 Words   |  3 Pagesfrom the North, to believe that the Souths economy would collapse without slavery due to the use of slaves on the front lines. However, only a small percentage of the slave population enlisted in either army. The concept of using slaves as soldiers was hardly revolutionary. Blacks had served our country with honor and bravery since the countrys earliest days. Not only did the black troops fight for the United States, but also for England. The British crown used their heads and made an agreementRead MoreThe Role of African Americans in the Revolutionary War Essay727 Words   |  3 Pagesfrom the North, to believe that the Souths economy would collapse without slavery due to the use of slaves on the front lines. 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