Essays on Government

a. Gross Domestic Product refers to the worth of all the products and services that a state produces within a given time. Based on the definition, the GDP of a country represents a market value of the final goods and services excluding intermediate products and services...

Inverse Relationship between Inflation and Unemployment There exists an inverse relationship between inflation and unemployment in the short run. In economics, this relationship is referred to as Philip's curve. However, it is not a permanent tradeoff and ceases to exist in the long run. Policy makers have a tough choice to...

Since education forms one of Texas' largest expenses, I think it is time to reform Texas' education/ budgeting system. Education forms the foundation of an informed democracy like Texas and the key to lifelong opportunities. Therefore, Texas relies on its education system to promote shared responsibility, as well as create...

Low Voter Turnout in Texas Low voter turnout has become one of the most common problems in the United States politics. In fact, it is admissible to indicate that less than a half of the country citizen vote in most elections. In particular, Texas has been of the most affected state...

Since the reestablishment of diplomatic relations between the United States and China trade transactions between the two countries have steadily evolved leading to the signing of multiple bilateral trade treaties. These treaties are meant to guide and improve trade agreements. China has undertaken significant economic reforms which have been complemented...

Agriculture refers to the art of science of cultivating the ground, including the harvesting of crops, and the rearing and management of livestock in order to sustain and enhance life. Over the years, agriculture has evolved from the basic forms of using simple tools of farming and keeping a few...

Reduction in the number of employed populations has become a major problem in most of the African, American and Asian countries. In most cases, the federal governments and the private sectors are responsible for the changes in the economy which lead to unemployment. In most cases, the primary causes of...

The Organisation for Economic Co-operation and Development (OECD) The organisation for economic co-operation and development (OECD) has the objective of making improvements in the social well-being and economic growth of people across all regions in the world. OECD partners with different government bodies to determine the best policies to implement in...

A public good is a product or service that is freely offered to all the members of a given society or nation in such a manner that no individual can be denied access to the product or service whiles its availability cannot be reduced for other people as a result...

Inflation tax is the financial loss of value incurred by a holder of cash. For example, if you hold a $1000 bill for one year, then it will purchase on what $980 would have bought a year ago. Inasmuch as excess bank reserves attract nominal interest, the value is still...

International Monetary Fund (IMF) refers to an international organization of countries with its headquarters in Washington, D.C.  Its objectives are the promotion of financial stability global monetary cooperation, growth in employment international trade, economic growth as well as to reduce the poverty level around the globe.    ‘The International Monetary Fund...

Minimum wage refers to the price in which it is illegal to buy or sell labor. Minimum wage is normally set by governments and tend to be above the market wage. Under normal conditions, the price of wage will be set by an interaction between the supply of labor and...