Macroeconomics

Running Head : NameUniversityCourseTutorDateTechnological advancement has been realized in virtually all aras of production . In the US the increased practice of computers has conduct to solid growth of productivity . Productivity is the approximately valuable statistic used to determine the overall economic wellbeing of a country . Growth in productivity indicates that thither is improvement in the brio standards of the citizens and also more stemma opportunities in the job market . Due to this effect , the theatrical role of computers in the US productivity is expected to increase in the near future . This is due to the fact that most citizens and specially those living below the poverty line would like to make love equal health standards as well as living standards with the rich (Chiarella Flaschel , 2000In the orbitual shine diagram , economy is dissever into two smashs . The first one deals with production of goods as well as services sequence the second part deals with their consumption . Circular return diagram is used by the economics to determine economic growth . Leakages from the circular flow diagram is the income not spend on goods that are domestically produced . Examples of leakages allow savings , imports and taxes . Injections into the circular flow 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 equipoise , the leakages from the circular flow equal the injections into the circular flow (Chiarella Flaschel 2000 . The circular flow therefore remains the same in coat . However if the injections into the circular flow exceed the leakages from the circular flow , thus economic prosperity is witnessed while if the leakages exceed the injections then there is a recession in the economy growthTechnological metamorphose in certain industries can lead to unemployment . For instance , presentation of computers and networking in banking industry can lead to departure of jobs by many tellers and cashiers .

miscellanea in technology can get along reduction in the number of workers needed with specific skills . other example is of car 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 in technology can lead to increase in the rate of employment through increasing productivity . add-on in productivity creates a stable economy and more job opportunities where people can secure jobsChina is ranked in the fourth position in the world s economy while US takes the lead . Japan and German follow in the second and ordinal positions respectively ( HYPERLINK hypertext transfer protocol /www .chinadaily .com http /www .chinadaily .com . However , due to China s changes in flip rates , it is believed that China is likely to become the world s third economy , hence surpassing German . Technological advances claim contributed to an increase of or so 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 full essay, order it on our website: Ordercustompaper.com

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