Macroeconomics

Running Head : NameUniversityCourseTutorDateTechnological advancement has been realized in estimable slightly all areas of production . In the US the increase role of computers has guide to solid process of productivity . productiveness is the nigh valuable statistic used to determine the overall stinting public assistance of a country . Growth in productivity indicates that there is improvement in the life-time standards of the citizens and also more(prenominal) employment opportunities in the job market . Due to this effect , the piece of computers in the US productivity is expected to increase in the near future . This is due to the fact that most citizens and in crack upicular those living below the poverty line would kindred to screw equal health standards as well as living standards with the rich (Ch iarella Flaschel , 2000In the pecker light draw , economic system is separate into two parts . The first one deals with production of goods as well as services musical topic the second part deals with their consumption . Circular light diagram is used by the economics to determine economic growth . Leakages from the poster issue diagram is the income not spend on goods that are domestically produced . Examples of leakages imply savings , imports and taxes . Injections into the vizor diminish diagram are the expenditures that are added to the expenditure on the circular flow . Examples of injections include investment , exports and government exportsWhen the circular flow is at remainder , the leakages from the circular flow equal the injections into the circular flow (Chiarella Flaschel 2000 . The circular flow therefore remains the kindred in surface . However if the injections into the circular flow outdo the leakages from the circular flow , therefore econo mic prosperity is witnessed plot if the lea! kages exceed the injections then there is a recession in the economy growthTechnological remove in certain industries behind depart to unemployment . For instance , mental home of computers and networking in banking industry can hap to bolshie of jobs by many tellers and cashiers .

transform in technology can reason reduction in the subprogram of workers needed with specific skills . another(prenominal) example is of gondola industry where car workers can loss jobs with introduction of robots . This leads to unemployment which is specifically know as technological unemployment (Chiarella Flaschel , 2000 . Change i n technology can lead to increase in the rate of employment through increase productivity . ontogenesis in productivity creates a perpetual economy and more job opportunities where people can set jobs china is ranked in the fourth position in the mankind s economy while US takes the lead . Japan and German follow in the second and ordinal positions respectively ( HYPERLINK hypertext bump off protocol /www .chinadaily .com http /www .chinadaily .com . However , due to China s changes in exchange rates , it is believed that China is likely to move the world s third economy , hence surpassing German . Technological advances lose contributed to an increase of about 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 plentiful essay, order it on our website: OrderCustomPaper.com

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