Micro Economics in the Real World Term Paper Example | Topics and Well Written Essays - 1000 words

Micro Economics in the Real World - Term Paper Example The unrestricted mobility of resources and factors of production has made the unbalanced economic performance worse as the developed countries control and regulate economic activities of the lower tier economies at their benefits (Kunz, 56). As reported by the World Bank, the economic performance of India and Germany significantly vary. This can be measured by focusing on GDP, inflation, rate of employment and poverty index. HOW THE GPD OF INDIA COMPARE TO THAT OF GERMANY Being the largest economy in Europe, Germany benefits from a pool of technically gifted labour force, hence her dominance in chemical and machinery industry. GDP which is the key determinant of growth and development is defined as the â€Å"the total market value of all goods and services produced in a country during a given year† The GDP of Germany has been positive over a couple of decades. However, following the 2008-2010 global financial contagion, the steady gross domestic production of Germany significa ntly declined. In the first quarter of 2012, the GDP of Germany increased by 0.5%, while in the second quarter, it increased by 0.3%. Over the same period, government and household expenditure and exports increased. On the contrary, fixed investments reported a decline in real value. Private investment and consumption fell following the Euro financial crisis. Amid the global financial and economic crisis, in 2009 Germany posted purchasing power parity (PPP) of $2.182 trillion (Oecd Economic Surveys: Germany, 23). Even during the recession, Germany’s economy recorded positive returns with its GDP ranking sixth globally. 2009 reported the worst economic performance for Germany after posting a GDP of -5%. The economic growth rate and development (2007-2009) are as graphically represented above. Over the same period (2007-2011), India’s economy posted a positive return with a 5.5% GDP in 2011 and 4.1% in 2007. A report by the KPMG’s executive in India stated,  "Whether it (GDP growth) is 5-5.5 per cent or 7-8 per cent, the most important part is that the country is still growing. If you look at the rest of the world...India is still growing at 5-5.5 per cent, it’s a slower growth but it’s a growth† (Kajal, and Moore, 67) In the first quarter of 2012, the performance of the Indian economy slipped because of decline in mining, quarrying, and manufacturing sectors. This performance was much better than that of the world’s largest economy, United States which posted an economic growth of approximately 1.5% in the gross domestic production (Oecd Economic Surveys: Germany, 87). Measured in purchasing power parity (PPP), the GDP of India was US $2.996 trillion during the 2008 financial period. In official exchange rates, this represented $1.099 trillion. The real economic growth rate for 2008-2009 was approximated to be 9%. INFLATION RATE IN GERMANY AND INDIA Inflation is the persistent rise in the general price level of goods and services in economy measured as a proportion of the base period records. Inflation is measured using the consumer price index (CPI), which is the critical indicator of inflation. It therefore represents the changes in retail prices of commodities for a specific consumer basket. It is the measure of the purchasing power of the local

Comparison -contrast essay army vs airforce Example | Topics and Well Written Essays - 750 words

Comparison -contrast army vs airforce - Essay Example One of the main differences of course lies in the defence regulations of each branch. It is usually assumed that the air force is the only primary air defence whereas, it is often overlooked that the army also has a large number of defensive aircrafts. The basic difference is that the air force has more aircrafts devoted to research and development wherein new and latest technology is used to make more powerful aircrafts, while the army is always in preparedness and maintains constantly a battle ready fleet of aircrafts. The army when compared to the air force is capable of deploying its own massive air defence if required at anytime. The air force is however focused on maintaining a larger scope and geographically distributed air defence with its fleet, the army on the other hand concentrates on short range and more of emergency support which explains the functional designs of the aircrafts used by them. This reflects why the army uses short range aircrafts as opposed to the long range ones used in the air force, as they are mainly used for the in and out missions which does not require the long distance and high altitude defence strategies. This clearly defines each unit’s role in the defence function and its goals in general. When we take aircraft as the criteria the most general difference is the fact that aircraft focus or specialisation is a part of a very small function of these units when compared to the military as a whole. Stealth aircrafts are more for long range purposes which is why the airforce posses them while the army focuses more on maneuverability which is the main issue when it comes to the capabilities and functions of the aircraft. The airforce which concentrates on airpower therefore focuses on a combination of stealth, maneuverability and super speed with letahl exponents. Thus we can assume that the airforce jets don’t focus on the survivability factor while the the army tends to carry out more