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How did Gnp Change From 2008



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Question
Are we really in a depression disguised as a recession?
I'm really not understanding the difference these days, were pulling back on wages, resources and spending, yet there aren't any jobs, people are desperate-including the Duchess of York, and GOING OUT OF BUSINESS signs are everywhere. Taxes are being creatively weaved into mundane purchases like soda's, and anything they can think of in that respect.

Answer
There is an old joke among economists that states "A recession is when your neighbor loses his job. A depression is when you lose your job." The difference between the two terms is not very well understood for one simple reason: There is not a universally agreed upon definition. The Business Cycle Dating Committee at the National Bureau of Economic Research (NBER) provides what is probably the best way to find out if a recession is taking place. This committee determines the amount of business activity in the economy by looking at things like employment, industrial production, real income and wholesale-retail sales. They define a recession as the time when business activity has reached its peak and starts to fall until the time when business activity bottoms out. When the business activity starts to rise again it is called an expansionary period. By this definition, the average recession lasts about a year. So how can we tell the difference between a recession and a depression? A good rule of thumb for determining the difference between a recession and a depression is to look at the changes in GNP. A depression is any economic downturn where real GDP declines by more than 10 percent. A recession is an economic downturn that is less severe. Roy Smith, a professor at NYU's Stern School of Business, said,"We have no other modern experience of [a depression] and will likely not have any, because we've installed safeguards that didn't exist then [1929 - 33] to prevent such a catastrophe." Looking at GDP in this current state, the U.S. wasn't off to a bad start this year. According to the Bureau of Economic Analysis, real U.S. GDP rose 0.9 percent in the first quarter of 2008 and 2.8 percent in the second quarter. The problem with such a simple definition, according to James Poterba, president of the National Bureau of Economic Research (NBER), the official arbiter of when recessions begin and end, is that it "omits the possibility that you see two very tiny declines in two quarters, and [it also] doesn't look at other information for the rest of the economy, which may suggest that what is happening is not a broad decline." To give an example using just unemployment, lets compare to the Great Depression. The unemployment rate sat at 25% ; while the current unemployment rate at it's peak in this recession was 12%. The average unemployment rate before the recession was about 9% depending on the region. I know it seems like more when you talk to people, but it actually isn't. To quote Robert Gordon, member of the NBER committee responsible for determining the beginning and end dates of recessions, "Right now, we've had a 1.7 percent increase in unemployment. On historical precedence, absolutely this is a recession. All we have to do is figure out when it began."



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The government of the UK spent £4823 on international aid in the year 2004/2005 It comes 11th in a league of aid donors when the money donated is presented as a percentage of GNP (I believe Norway is first) By 2007/2008 The UK Government aims this ammount to be meeting the UN target of spending 0.7% of Gross National Income (GNI) on official development assistance (ODA). Total UK official development assistance will rise to almost £6.5 billion by 2007/08. These additional resources will be used to increase UK bilateral aid to Africa to at least £1.25 billion a year by 2008, spend at least £1.5 billion on HIV/AIDS related work over the next three years, and ensure that more children in the world’s poorest countries are able to go to primary school. Around the would these are the main countries the UK donates to £millions per year. India 259 Bangladesh 128 Tanzania 97 Sudan 84 Afghanistan 80 Ghana 72 Ethiopia 62 Uganda 61 Malawi 56 Iraq 49 Mozambique 48 Nigeria 47 Rwanda 42 Vietnam 40 China 36 Kenya 35 Nepal 35 Pakistan 31 Republic of South Africa 31 Zambia 31 Here are some current examples of aid projects BRAC Afghanistan was registered as an international NGO in Afghanistan in May 2002 and opened its office in Kabul in the same year. With support from the Afghan government and donors like DFID and USAID, BRAC Afghanistan has been working in 19 provinces to work towards "alleviation of poverty and empowerment of the poor". Microfinance is considered worldwide as an effective tool for enabling the poor to develop their own sources of income and to improve their ability to provide for their families. But the lack of banking services and infrastructure is a big part of why many Afghanis struggle to get out of poverty. Without access to financial services, poor Afghanis can't borrow, save or invest. To change this, DFID provides £20 million over three years (2004-2008) to the Microfinance Investment and Support Facility for Afghanistan (MISFA), which provides essential credit and other financial services to help Afghans set up small businesses -------------------------------------------------------------------------------- £70 million for post-earthquake reconstruction in Pakistan is to be pledged by the UK at a high-level aid conference in Islamabad this weekend, the Secretary of State for International Development Hilary Benn announced today. The pledge, to be made by International Development Minister Gareth Thomas who will attend the conference for the UK, will be paid out over 3 years to help fund rebuilding in quake-affected areas. The new pledge brings the UK’s total support to Pakistan, for both relief and reconstruction, to over £100 million, to date. Encouraging other countries to follow suit with substantial reconstruction pledges of their own Gareth Thomas said: “Round-the-clock relief work continues as winter sets in and we try to prevent further suffering and loss of life. But we must also help Pakistan begin to rebuild the schools, hospitals and homes which were destroyed by the quake. The UK is giving generously – it urges others to do so too. “We will continue to monitor needs as they arise and respond as part of the international community.” Discussions at this weekend’s conference in Islamabad will centre on an assessment of reconstruction priorities made for the government of Pakistan by the Asian Development Bank and the World Bank. The UK is to date the second largest bilateral donor of post-earthquake relief funds (after the US). An innovative television drama series, produced with DFID funding, is educating rural people in East Africa about issues that matter to them. Called Makutano Junction, it aims to entertain and educate English-speaking millions of East Africans with access to television, using accessible storylines which deal with malaria prevention, safe sex, parental involvement in schools, how to look after donkeys and more. The opportunity to reach previously unattainable audiences through television, in more remote parts of Kenya is enormous. Makutano Junction has reached 5 million regular viewers in Kenya alone, broadcasting through the Kenya Broadcast Corporation (KBC). There are also many British charitees that provide aide such as Oxfam and Save the children. LiveAid which is also British.



Question
Do you ever notice how every few years there's a word that becomes popular?
Four years ago the word was GRAVITAS. Eight years ago it was DETENTE. This year the word seems to be CONCIERGE? Is it my imagination or is this word springing up too much lately?

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And now.....STAGFLATION is the word for 2008. This is an economic condition where there is high inflation and downward or very low GNP (Gross National Product) growth. And one more word that will be new for 2009.....DTV!!! DTV means, of course, "digital TV" or "digital television." Even if you are Uncle Ben, we cannot escape the change to digital that will take place on all broadcast TV on February 18, 2009. So, new words will pop up with this federally-mandated television change, like..... "digital tuner", and "digital converter box".




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