Thursday, August 22, 2019
Difficulties disabling growth of market oriented system in China Essay Example for Free
Difficulties disabling growth of market oriented system in China Essay Difficulties disabling growth of market oriented system in China Introduction            The total achievements of the ongoing social economic reforms in china are very astounding, China from among the poorest nations up to 1976 when Mao Zedong died. Since then, the economy of china has grown rapidly to assume the second position of the biggest economy in the. The rapid growth of the china’s economy has brought sufficient resources to the government to further development and also has rescued million citizens from abject poverty. It is amazing to see the success and speed of the china miracle. The rapid development in china has attracted attentions worldwide in the recent years. The consequences of various aspects of the rise of china ,starting from its military muscles and expanding influence to its expanding energy supply demand, are be mostly debated within china and the international community. Thus it is crucial to correctly comprehend the achievement of china and its wide path toward higher development (Harry J Waters, 1997).            China has continuously faced many challenges to accomplish its performance in developing as in other developed states. Since 2001, commercial banks have been poorly allocating its funds disorderly. This has been a severe problem in china. The Chinese banking system has been a problem on the way has allocated funds.. The private business has relied on the informal finance for a long time. This has affected the success of the private sector. This situation is caused not only by banking system but also is due to capital market. The banks could have solved this challenge if it had lent out loans to the private sectors enterprises with a reasonable interest rate. The lack of reliable corporate credit information made it difficult for commercial banks to assess the risk of lending the loans (Wang, 1990).            The china government improved the legal environment, which occurred remarkably. China made changes to this legal system in accordance with the country’s accession. Even though, the law was so good in the country did not mean that market system was in phase. In fact, the banking system was deteriorating on the way was performing their duties. The senior executive specified some issues basing his argument on banking sector such as absence of regulations and rules on credit registry, the underdeveloped businesses liquidation law, the inability in criminal investigation for financial theft and irregularities(Rotberg, 2008). The PBC senior executive also launched the study project with association of World Bank and other monetary financial institutions (Wang, 1990). The main task was to propose a series of reforms to attain a new framework on the market system. The private sectors concerning the law on the banking system proceeded to the court with an aim to get loans from commercial banks with reasonable interest rates (Wang, 1990). This did not even succeed as planned by the complaints.            Nowadays when the commercial banks require enforcing their bill of rights to the collateral, they face many challenges. This occurs when they try to register some projects system, which they have to intervene with the court. The banks lack motivation of reconciliation therefore has to intervene with the court. They usually face trouble enforcing court decisions due to local government interference (Rotberg, 2008).            China has faced numerous challenges affecting the whole government and even the development of the country. In china, there has been fraud reports and corruption in banking sector. It is not of necessity whether financial frauds are on the increase or whether more crimes are reported and uncovered. There are three main challenges facing the banking system in China, which are high-technologically financial offences; the use of criminally obtained money to corrupt officials in order to run away punishment and to keep away from regulation, and funds crimes report with a more sophisticated means, global focus. The Chinese government is increasing institutional mechanisms for exposing and eradicating financial crime. This has been a prolonged challenge of fraud and corruption affecting the banking system in China (Wang, 1990).            The Chinese commercial banks’ strength to vie with foreign banks was posed in the context of three areas. These areas are in the domestic financial markets, in the open and developed domestic markets for future, and in world markets. Therefore, this is not easy for foreign banks to enter into the Chinese market. Banks involve in local currency where its mission does not move forward. This is much more expensive than simply opening branches (Rotberg, 2008). This affected the market oriented system negatively.            China indeed has achieved most of the objectives it set in 1978.it has improved significantly the well being of the citizens although it’s economic development has often been uneven and narrow. The last twenty seven years of growth and reforms has presented to the world the size of its, labour force, purchasing, creativity, commitment to development and the level of national cohesion. The contribution of china to the whole world as a way of growth will be ground breaking after mobilization of all of its resources. China has struggled with economic development mostly because of its population since a small challenge in its social development or economic when spread over a vast population become a huge problem. The most important strategic choice the government of china has made was to accept the economic globalization instead of separating itself from it .during 1970s the great signs of economic globalization and technological revolu tion was unfolding with huge momentum when Beijing held the trend and overturned the practices of Cultural Revolution (Kiichiro Fakasaku et al , 1999).            Based on the judgment of the development, the president of china alongside other great leaders in the government chose to take up the historic chance and shift the focus of their undertakings on the domestic development and hence tapping in to the international ones .they enforced the system of household contracting in the rural areas hence opening up fourteen coastal cities thus bringing in the economic period take off. Once again, china invoked a strategic because of the financial crisis that was rampant in. Asia and the continued struggles against globalization the decision of china to take part in economic globalization that it was facing was a great challenge .by clearly considering the advantages and the disadvantages related to economic openness and getting lessons from the history, the leaders in china decided to expanded china even more by deepening home economic reforms and world trade organization            The leadership of china has been striving to improve the relation with the whole world as their pursue their objective of rising in peace despite the downs and up the relationship of china and the united states for many years together with other dramatic alterations in the worldwide politics like the death of the soviet union. The leader in china has stuck to the fact that there are more good opportunities than problems for china in the international market today.            With respect to the strategic plans of china, it will take 45 years from today before it can be termed a modernized, medium level grown country. China will encounter several challenges before it get to 2050 mostly because of it’s over population, environmental pollution and lack of coordination among the two key factors of economic and social development. Another great challenge chain must encounter is clearly shown in series of tension that the government officials must deal with. The most common one are the gross domestic product growth and also social progress, between increasing job opportunities and upgrading technology, also the leaders are not sure whether to foster urbanization or expanding agricultural areas and others .to be able to solve all these dilemmas successfully, several properly coordinated policies are required to foster development which is more balanced and faster.            China is continuously losing its ample due to economic development and erosion that has swept the most top layer which is essential for crop production. The government of china is looking forward to add more energy creation capacity from other sources apart from oil and coal and is shifting their focus more on alternative energy development and nuclear sources. The major problem which are associated with setting up nuclear facilities and to maintain them .they are charged with the responsibility of putting heavy boundary the prevent radiation leakage which otherwise would cause terminal diseases such as cancer. Several other factors are converging to decelerate the growth and development .the debt overhang resulting from the stimulus program, slow recovery of the partners trading with china and industrial overcapacity. The economic growth in china has benefited eastern and the southern region more than the region. This has led north to inc reased disparity between south and north .the agricultural activity in has been left behind. Many farmers are struggling to make cater for their daily bread. Consequently this kind of imbalance has favored migration of workers to south china. It is struggling hard to fix this regional inequality (Shahid Yusuf, 2008). References Fukasaku, K., Mello, L. R., Organisation for Economic Co-operation and Development, Decentralisation, Intergovernmental Fiscal Relations and Macroeceonomic Governance. (1999). Fiscal decentralisation in emerging economies: Governance issues. Paris: OECD. Waters, H. J. (1997). Chinas economic development strategies for the 21st century. Westport, Conn: Quorum Books. Yusuf, S., Saich, T. (2008). China urbanizes: Consequences, strategies, and policies. Washington, D.C: World Bank. Dorn, J. A., Wang, X., UniversiteÌ de Fudan (Shanghai, Chine), Cato institute (Washington, D.C.). (1990). Economic reform in China: Problems and prospects. Chicago: University of Chicago press. Rotberg, R. I. (2008). China into Africa: Trade, aid, and influence. Washington, D.C: Brookings Institution Press. Source document
Wednesday, August 21, 2019
Ethical Principles in Healthcare
Ethical Principles in Healthcare Introduction The Department of Health (DoH) (2003) highlighted the importance for all professions currently regulated by the Health Professions Council to demonstrate competence through continuing professional development (CPD). CPD is a systematic, ongoing, structured process that encourages the development and maintenance of knowledge, skills and competency that assists us in becoming better practitioners (Chartered Society of Physiotherapy (CSP), 2003). As a result of the Health Act (1999) and for registration with the Health Professions Council (HPC), CPD is a legal requirement (HPC Standards of Proficiency, 2007) that must be completed in accordance with the (HPC) Standards of Continuing Professional Development (HPC, 2006). This essay allows for demonstration of life-long learning using evidence from clinical practice and critical evaluation to contribute to my CPD. Learning outcome 5 will be demonstrated throughout this essay. Throughout this essay the reader is directed to the appendices to support theory with evidence of practice. I considered my motivations for undertaking CPD before writing this essay and reflected upon them again on completion (Appendix 1). Demonstrate professional behaviour with an understanding of the fundamental, legal and ethical boundaries of professional practice. Beauchamp and Childress (2001) identify four ethical principles; Autonomy, Beneficence, Non-maleficence and Justice. These ethical principles can be used to morally reason whether an action or decision is right or wrong when used in conjunction with a set of guidelines (Kohlberg et al, 1983). Professional codes of conduct are developed within moral, ethical and legal frameworks to help guide and regulate practice (Hope et al, 2008). Every practitioner has clinical autonomy, therefore they are professionally and legally accountable for their actions. The following will discuss the importance of consent and duty of care for both legal and ethical reasons with regards to case 1 (Appendix 2), encounterd on practice placement 6 (PP6). Rule 9 of the HPC standards of conduct, performance and ethics (2008) states you must gain valid consent from a patient for any treatment you may perform or else you could face trial for assault, battery or negligence under civil or criminal law (Hendrick, 2002). It is a fundamental ethical priniciple that every person has a right to exercise autonomy (Article 9; Human Rights Act, 1998) and is reflected in the Core Standards of Physiotherapy Practice (CSP, 2005). Performing a procedure without gaining consent, undermines the moral priniciple of respect for patients autonomy and human dignity (Sim, 1986). However, inability for Patient X to conform to the Mental Capacity Act (2005) meant he was treated in his best intrest in adherance to section 1.5 of this act and Rule 1 of the HPC (2008) standards of conduct, performance and ethics. Assuming the medical management of Patient X, a legal and professional duty of care was established (Rule 6; HPC, 2008). As part of this duty and in accordance with standard 2 of the CSP Core Standards of Physiotherapy, all interventions were explained to patient X despite his inability to consent. Had I not treated Patient X on the basis he had swine flu, this would have been failing to do justice to him, acting outside of the Disability Discrimination Act (2005) which states everyone should have equitable access to and utilisation of services regardless of disability and also Article 14 of the Human Rights Act (1998) in that no one should be discriminated against based on their health status. The Bolam Test (1957, cited in Dimond, 1999) states if duty of care to a client is breached and subsequent harm to the patient occurs, professional standards have not been kept and therefore negligence can be assumed. Although not legally binding, the CSP rules of professional conduct effectiv ely have the same status as law and failure to comply with them means they may not only be used in disciplinary hearings but also in legal proceeding as a civil case under the tort law of negligence (Dimond, 1999; Hendrick, 2002). In summary, a sound understanding of the legal implications surrounding consent and duty of care can help avoid unwanted litigation, however they should not undermine the ethical implications. Appendix 3 demonstrates how I have learnt from this experience. Assess the needs of a range of service users and, with reference to current professional knowledge and relevant research, apply, evaluate and modified physiotherapeutic intervention A service users is anyone who utilises or is affected by a registrants service (HPC, 2008). The complex needs of a service user encompass a range of issues including social, environmental, emotional and health related, the extent of which varies from person to person. For the purpose of this essay, the physiotherapeutic management of two patients treated whilst on PP6 with differing severities of chronic obstructive pulmonary disease (COPD) exacerbations (Appendix 4) will be discussed. The National Institue for Health and Clinical Excellence (NICE) guidelines (NICE, 2004) in conjuntion with the guidelines for physiotherapy in respiratory care (British Thoracic Society (BST), 2008) advocates the use of active cycle of breathing technique (ACBT) with expiratory vibrations on the chest wall for the treatment of COPD to help aid airway clearance. Inability for patient A to comply with ACBT indicated the use of manual hyperinflation (MHI) to passively inflate the lungs and aid mucocillary transport (Ntoumenopoulos, 2005). As identified by Finer et al (1979), atelectasis is a common problem observed in mechanically ventilated patients for which MHI has been found to be beneficial in reducing it in a well controlled clinical trial by Stiller et al (1996), scoring a PEDro rating of 6/10. Absence of a cough reflex in patient A, resulted in sputum retention and the increased risk of infection indicating the use of suctioning (Pryor and Prasad, 2002) by which, copious amounts of viscous secretions were cleared. Shorten et al (1991) supports the use of saline instilation to loosen secretions prior to suctioining however, conflicting arguments by Blackwood (1999) and Kinloch (1999) question its effectiveness. Patient Bs compliance with ACBT replaced the need for MHI and suctioning. Patient A developed bilateral shoulder subluxations due to his lengthy intubation for which subluxation cuffs were applied, as suggest by Zorowitz et al (1995) with positive effect. Despite this study being on stroke patients, the results can be generalised to other patient groups as proved. The importance of mobilising patients with regards to respiratory function is highlighted by Ciesla (1996), however mobilisation of critically ill patients is restricted as they are often non-ambulatory. A high quality, randomised control trial using fifty-six participants by Mackay et al (2005), identified mobilisation as superior to other respiratory techniques, therefore Patient B was encouraged to sit out and treated using a graduated walking program. In the case of Patient B, mobilisation constitutes any change in position therefore the use of postural drainage positions and positioning into the cardiac chair setting on the bed were used (BTS, 2008). The range of problems service users present with means practitioners need to be adaptable, drawing on current evidence, professional knowledge from different fields of physiotherpy practice and experiences through CPD to deliever indiviualised patient-centred care. Appraise self management of a caseload and modify practice accordingly, demonstarating effective teamwork and communication skills Caseload management typically refers to the number of cases handled in a certain timeframe by an individual for which they have a duty of care towards (Scottish Executive, 2006). It is the management of time effectively through appropriate priority-setting, delegation, and allocation of resources to meet the service demand of its users (Curtis, 2002). Self-management of a caseload and adaptability to changing circumstances is expected of a registrant (HPC, 2008). Well developed time management skills can make a workload more manageable and improve the effectiveness of treatments and quality of time with patients. Prioritising patients to the order in which they will be seen based on their needs is encouraged by SARRAH (2010), however Nord (2002) argues whether it can be justified to prioritise those in most need if their potential benefit may not be as great as those in less need. In my experience prioritisation is dependant on a variety of factors for example, the trust where PP6 was completed, enforced protected meal times which did not run alongside staff meal times. Therefore, to prevent there being a void in the day, patients were still prioritised according to need but considertation had to be given to see patients that would be eating first and treat those that would not be during protected meal times. It is essential to consider that a therapists workload includes not only patient care, but also admistrative and research tasks in which delegation to others can be a valuable stratergy to assist with workload mangement. Curtis, (1999), identifies the need for practioners to show greater awareness of other disciplines competancies so delegation can be more effective. Feedback systems should be enforced to ensure task completion and objectives are being met (Curtis, 2002). Inter-professional collaboration refers to the process by which different disciplines work together to improve healthcare (Zwarenstein et al, 2009). Poor collaboration amongst healthcare professionals contributes to problems in quality of patient care and consequently poorer outcomes (Zwarenstein and Byrant, 1997). Liaison with members of the multi-disciplinary team (MDT) is encouraged by Shortell and Singer (2008) as practitioners are less likely to work off their own autonomy, ensuring patient safety, as demonstrated during handover in (Appendix 5). The learning objectives on PP6 to develop MDT collaboration and caseload management have been achieved as demonstrated in the feedback from my educator (Appendix 6) which identifies that improvement in self confidence will allow further development of the skills discussed. Demonstrate partnership with more junior students and/or appropriate others through the development of mentoring skills Mentoring is a process aimed at transfering knowledge, skills and psycological support from a more experienced person to a less experienced person, where the desired outcome is for both persons to achieve personal and professional growth (Anderson, 1987). An effective mentor facilitates, guides and empowers the mentee in becoming an independent learner (Coles, 1996) in which the relationships developed are based upon mutal respect, trust, confidentiality and shared beliefs and values (Lyons et al, 1990). The CSP (2005) acknowledges the importance of intergrating mentorship into CPD, in which the mentor develops a range of skills transferable to other CPD activities. This section focuses on peer mentoring as a concept, its practice and clinical application on an informal basis. Having identified the characteristics of a mentor (CSP, 2005), a SWOT analysis (Appendix 7) was completed to assist recognition of my personal learning needs. There are four stages to the mentoring life cycle (Appendix 8), in which the mentor needs to adopt and develop new skills to accommodate the mentee and guide them through the process. A qualitative study using a moderate sample size by Chan and Wai-Tong (2000) encourages the use of learning contracts (Appendix 9) to help establish rapports and facilitate autonomous learning which aids progression to stage two of the cycle. This is further supported in a recent review of the literature by Sambunjak et al (2009). Gopee (2008) recognises the importance of analysing the mentees needs. Foster-Turner (2006) states that different people approach the learning process in different ways therefore, matching the learning styles of the mentor and mentee will produce a more productive and successful relationship (Mumford, 1995; Hale, 2000). Honey and Mumford (1992) suggested people tend to have a predominant learning style and can be classified as activists, reflectors, theorists or pragmatists (Appendix 10). Boud (1999) identifies raising self-awareness as an essential tool used in lifelong leaning and through analysis of learning styles using Honey and Mumfords (1992) questionnaire, this allowed for reflection on the style of learning that would best suit the mentee to help meet their learning needs (Foster-Turner, 2006) (Appendix 11). As identified by the learning style inventory, the mentee and myself were both reflective learners, therefore we arranged sessions where we could dreflect on a clinical experience and discuss how new learning could be applied to future events. A feedback form from the mentee (Appendix 12) an a SWOT analysis (Appendix 13) demonstrates how through increased self-awareness and review of the literature, I have developed a better understanding of the mentoring process, the skills required and its application in into clinical practice. Developing others is central to current and desired practice (DoH, 2000a, 2000b, 2001, 2002) in which mentorship offers all the key attributes to the process. Preparation of an individual for this role, through self assessment, is central to its success, in which the skills developed are lifelong and can enable development into management and leadership roles later on in life. Demonstrate skills of career-long learning Lifelong learning is used synonymously with CPD and is concerned with practitioners critically reviewing their skills and knowledgebase with the ultimate goal of providing a better standard of care to all service users (French and Dowds, 2008). A recent inquest into a practitioner who did not maintain his competencies, demonstrates the possible consequences of poor CPD (Appendix 14). Appendix 15 details a range of formal and informal activities that can be undertaken to contribute towards CPD, evidence of which can be documented in a portfolio. The importance of staff development is recognised by the DoH documents (2000a, 2000b, 2001, 2002) which sets out the Governments vision of an NHS that prepares allied health professionals with the skills to take advantage of wider career opportunities and realise their potential. By using the competency based framework; The NHS Knowledge and Skills Framework (2004), physiotherapists can participate in development reviews which identify development opportunities and contribute to the fulfilment of personal development plans. References Anderson, E. (1987) Definitions of Mentoring; Unpublised Thesis, cited in; Anderson, E. Shannon, A. (1988) Towards a Conceptualisation of Mentoring; Journal of Teacher Education. 29 (1); 38-42. BBC News (2010) Patients inquest focuses on overseas locum care [online]. Available from http://news.bbc.co.uk/1/hi/health/8455971.stm [Accessed 15th February, 2010] Beauchamp, T. Childress, J. (2001) Principles of Biomedical Ethics 5th Edition. Oxford: Oxford University Press. Belbin, M. (1993) Team Roles at Work. Oxford: Butterworth Heinemann Blackwood, B. (1999) Normal Saline Instillation with endotracheal suctioning: primum non nocere (first do no harm); Journal of Advanced Nursing. 29 (4); 928-934. Boud, D. Cohen, R. Sampson, J. (1999) Peer Learning in Higher Edcation: Learning From and with Each Other. Kogna Page Limited: London. Ciesla, N. (1996) Chest Physical Therapy for Patients in the Intensive Care Unit; Physical Therapy. 76 (6); 609-625. Chan, C. Wai-Tong, C. (2000) Implementing contract learning in a clinical context: report on a study; Journal of Advanced Nursing. 31(2), 298-305. Coles, C. (1996) Approaching Professional Development; Journal of Continuing Education in the Health Professions. 16; 152-158. Curtis, K. (1999) The Physical Therapists Guide to Health Care. New Jersey; SLACK Inc. Curtis, K. (2002) Physical Therapy Professional Foundations: keys to success in school and career. New Jersey; SLACK Inc. Department of Health (2000a) The NHS Plan: a Plan for Investment, a Plan for Reform. London: The Stationary Office. Available from http://www.dh.gov.uk/en/publicationsandstatistics/ publications/publicationspolicyandguidance/dh_4002960 [Accessed 13th February 2010]. Department of Health (2000b) Meeting the Challenge : a strategy for the allied health professions. London: The Stationary Office. Available from http://www.dh.gov.uk/en/Publications andstatistics/Publications/PublicationsPolicyAndGuidance/DH_4025477 [Accessed 14th February 2010]. Department of Health (2001) Working together, learning together: a framework for lifelong learning for the NHS. London: The Stationary Office. Available from http://www.dh.gov.uk/en/ Publicationsandstatistics/Publications/PublicationsPolicyAndGuidance/DH_4009558 [Accessed 29th January 2010]. Department of Health (2003) Allied health professions project: Demonstrating competence through continuing professional development (CPD). London: The Stationary Office. Available from http://www.dh.gov.uk/en/Consultations/Closedconsultations/DH_4071458 [Accessed 24th January 2010]. Department of Health (2004) The NHS Knowledge and Skills Framework (NHS KSF) and the Development Review Process. 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The dynamics of mentoring as a route to personal and organisational learning; Continuing Professional Development. 3; 88-101. Holbeche, L. (1996) Peer mentoring: the challenges and opportunities; Career Development International. 1 (7); 24. Honey, P. Mumford, A. (1992) In; Honey, P. (Ed.), The Manual of Learning Styles, Maidenhead. Hope, T. Savulescu, J. Hendrick, J. (2008) Medical Ethics and Law: The Core Curriculum 2nd Edition. London: Churchill Livingstone. Kinloch, D. (1999) Instillation of normal salineduring endotracheal suctioning; effects on mixed venous oxygen saturation; Americal Journal of Critical Care. 136; 717-422. Kohlberg, L. Levine, C. Hewer, A. (1983) Moral Stages; A Current Formulation and a Response to Critics. New York: Karger. Kolb, D. (1984) Experiential Learning. Prentice-Hall, Englewood Cliffs; New Jersey. Leonard, M. Graham, S. Bonacum, D. (2004) The Human Factor: The CRitical Importance of Effective Teamwork adn Communication in Providing Safe Care; Quality and Safety in Healthcare. 13 (1) 85-90. Lyons, W. Scroggins, D. Rule, P. (1990) The Mentor in Graduate Education; Studies in Higher Education. 15 (3); 277-285. Mackay, M. Ellis, E. Johnston, C. (2005) Randomised clinical trial of physiotherapy after open abdominal surgery in high risk patients; Australian Journal of Physiotherapy. 51 (3); 151-159. Mumford, A. (1995) Managers developing others though action learning; Industrial and Commercial Training. 27 (2); 19-27. National Institue for Health and Clinical Excellence (2004) Chronic obstructive pulmonary disease; Management of chronic obstructive pulmonary disease in adults in primary and secondary care. London: National Institue for Health and Clinical Excellence. Available from http://guidance.nice.org.uk/CG12/NiceGuidance/pdf/English [Accessed 13th February 2010]. Nord, E. 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London: Office of Public Sector Information. Available from http://www.opsi.gov.uk/acts/acts2005/ ukpga_2005 0013_en_1.htm [Accessed 10th February 2010]. Office of Public Sector Information (2005) Mental Capacity Act Chapter 9. London: Office of Public Sector Information. Available from http://www.opsi.gov.uk/ACTS/acts2005/ukpga_200500 09_en_1 [Accessed 3rd February 2010]. Pryor, J Prasad, S.A. (2002) Physiotherapy for respiratory and cardiac problems: adults and paediatrics. London: Elsevier Health Sciences. Sambunjak, D. Straus, S. Marusic, M. (2009) A Systematic Review of Qualitative research on the Meaning and Mentoring in academic Medicine; Journal of General Internal Medicine. 25 (1); 72-78. SARRAH (2010) Workload Management. Australia: Services for Australian Rural and Remote Allied Health. Available from http://www.sarrahtraining.com.au/site/index.cfm?display=144625 [Accessed 15th February 2010]. Schofield, R. Amodeo, M. (1999) Interdisciplinary teams in healthcare and human service settings: are they effective?; Health and Social Work. 28 (4), 228-234. Scottish Executive (2006) Allied Health Professions; Workload Measurement and Management. Edinburgh: Scottish Executive. Available from http://www.sarrahtraining.com.au/ site/index.cfm?display=144625 [Accessed 3rd February 2010]. Shortell, S. Singer, S. (2008) Improving Patient Safety by Taking Systems Seriously; The Journal of the American Medical Association. 299(4); 445-447. Shorten, C. Byrne, P. Jones, R. (1991) Infant responses to saline instilations and endotracheal suctioning; Journal of Obstetric, Gynecological and Neonatal Nursing. 20; 464-469. Sim, J (1986) Informed Consent: Ethical Implications for Physiotherapy; Physiotherapy. 72; 584-587. Stiller, K. Jenkins, S. Grant, R. et al (1996) Acute lobar atelectasis: a comparison of five chest physiotherapy regimens; Physiotherapy Theory Practice. 12: 197-209. 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Available from http://www.csp.org.uk/uploads/documents/ csp_cpd35 _2005.pdf [Accessed 20th January 2010]. The Health Professions Council (2006) Your Guide to our Standards of continuing professional development. The Health Professions Council: London. Available from http://www.hpc-uk.org/registrants/cpd/ [Accessed 16th February 2010]. The Health Professions Council (2008) Standards of Conduct, Performance Ethics. The Health Professions Council: London. Available from http://www.hpc-uk.org/aboutregistration/ standards/standardsofconductperformanceandethics/ [Accessed January 26th 2010]. Zorowitz, R. Idank, D. lkai,T. et al (1995) Shoulder subluxation after stroke: A comparison of four supports; Archives of Physical Medicine and Rehabilitation. 76 (8); 763-771. Zwarenstein, M. Bryant, W. (1997) Interventions to romote collaberation between Nurses and Doctors; Cochrane Database of Systematic Reviews. Issue 2. Zwarenstein, M. Goldman, J. Reeves, S. (2009) Interprofessional collaboration: effects of practice-based interventions on professional practice and healthcare outcomes; Cochrane Database of Systematic Reviews. Issue 3.
Tuesday, August 20, 2019
strategic analysis of mcdonalds in india
strategic analysis of mcdonalds in india McDonalds vision is to be the worlds best quick service restaurant experience. Being the best means providing outstanding quality, service, cleanliness, and value, so that we make every customer in every restaurant smile. Values. Our values summarized in Q.S.C V. Provide good quality, services to customer. Have cleanliness environment when customer enjoys their meal .The value of food product makes every customer is smiling. Executive Summary. This documentation is mainly about the business strategies of McDonalds in India how it applies their strategies to interact with external environment. This discussed the following Porters models to imply the companys strategies in detail; Porters Generic Strategy analysis.(Use to identify the strategies to select) Porters Value Chain analysis. (Use to identify the value chain activities to support the strategy.) As a fast food company, the rivals that it has faced in the Indian economy during the implementation the strategies they applied, and the strategy changes according to different situations reports from this document. Porters generic strategy analysis of McDonalds is mainly on its unique characteristic applied in India, companys commitment dedication driven to reach the success in the Indian market. It shows McDonalds Business strategies that took place during the banking crisis which lead to global economy recession how it affected the Indian economy. Through Porters Value Chain Analysis this document tries to highlight McDonalds primary activities support activities of their production process, applied in India. Through this analysis, it shows the factors influencing the company performance, coordination between firms in the industry their quality support services as well. Also, report tends to discuss the situation of other competitors in the industry, their performance and position in the Indian market. Finally, this report implies that low cost focus strategy can keep a company to survive in the recession. Also, it can achieve low cost focus strategy through their logistic systems, reducing food wastes and increasing effectiveness of employees. Introduction. Mc Donalds, was originated in USA (California) in 1954, and has become one of the successful fast food chains in the world. Also one of the most recognized and established brands in the world. To such a development it helps some successful business strategies which lined to its external environment (Macro environment) and the industry environment (Micro environment). This document discussed the success of McDonalds especially in India and the strategies that they followed to reach the current position. Also, this provides a discussion of an analysis of why the company selects those strategies in response to the changing external environment to reach the goals. The company was able to establish around 30,000 franchising stores in 119 countries, targeting around 47 million people each day and it generates about $ 15 billion revenues annually. In India, McDonalds is a 50-50 joint partnership business between McDonalds corporations [USA] and two Indian businessmen. It took them six years with an investment of 4 billion to build up their supply chain properly in the Indian market. Their first restaurant in India was opened in 1996 at New Delhi. By introducing differentiated menu products according to the Indian taste, improving logistics systems with better supplier relationships it began to spread all over the country rapidly. Now the company expanded in 34 cities in India by covering 132 outlets. N. Jadhav A.Shaikh 2010, Supply chain management, Perishable products (Restaurant chain)[Presentations], viewed [ 19/12/2010], http://www.slideshare.net/sunilmbsingh/mcdonalds-final (Diagram 1) Porters Generic Strategy Analysis: Porters generic strategies framework provides a major contribution to the development of the strategic management the company can achieve to their competitive advantages by differentiating their products and services from its competitors through low costs. Mc Donalds targeted their products and services by a broad target through covering most of the market places. Also, it attains competitive advantage through market segmentation using Porters differentiation focus strategy. 8.1 Differentiation strategy of McDonalds: In differentiation strategy, fast food chains need to be more selective in which products to offer more creative in their promotion strategy. McDonalds offers specialized (Regionalized) version of its menu. This leads to differentiate the products from other competitor products as well. Mc Grilled sandwiches in US Canada. Mc Chicken Premiere Zesty chicken in UK, France, Italy Belgium. To overcome their healthy issues Mc Donalds added salads other lighter options to its menu encourage people to visit more often. Product adaptation in India- Vegetarian selections, No beef or pork items, McMasala Wide variety of menu items according to the Indian menu items; Vegetable non vegetable products. Health conscious items. Local flavors. Food preferences India B. Craig K. R. Dickson, 11th December 2007, Supply chain management, Mc India ppt[Presentations], viewed [ 19/12/2010],http://www.slideshare.net/KRDickson/McIndia-Final-ppt (Diagram 2) Mc Donalds premium line: They have introduced a group of products in early 2000s. It includes McDonalds larger chicken sandwich, salad line coffee products. Grilled chicken sandwiches are targeted different demographic markets. Mc Cafes located in Australia within the McDonalds restaurant. Types of restaurants: Counter service drive through (With indoor outdoor seating in Delhi.) McDrive locations near highways offer no counter services or seating. McCafà © restaurants within the same McDonalds restaurants. (They increased sales by 60% from this strategy.) Expansion for the following locations as well; More distribution centers within 500 km radius. Satellite cities near Mumbai Delhi. Cities with tourist appeal and eating out culture. Petrol stations, railway bus stations in around Delhi. Shopping malls and movie complexes (Delhi Mumbai) Differentiating promotion programs: McDonalds focused on superior price performance during the time of economic crisis. Point of sales (POS) promotion programs. Combo meals. (Customers get more discounts through this.) Lottery for winning its products. Sampling activities to taste their products to a discount price. Internet promotions. TV and other media promotions. To differentiate with their competitors McDonalds tried to focus on its unique campaign. Im lovin it campaign to attract family. Feature artists to attract teenagers. Introduces wireless technology platform, by allowing their customers to access internet by creating an innovative environment. 8.2 Cost leadership strategy: Under Porters competitive strategies, McDonalds uses an overall low-cost leadership strategy to reduce cost increase sales. Higher profits resulting from sales through lower prices than competitors as the unit cost is lower. Mc Donalds is having a biggest market share out of completive fast food restaurants. Therefore, they increase sales by reducing price than competitors. Food Items McDonalds Subway KFC Pizza Hut Dominos Burgers Pizzas Rs 20- Rs 70 Rs 65- Rs 135 Rs 25- Rs 175 Rs 55- Rs 175 (Regular) Rs 35-Rs 140 (Regular) Combo Meals Rs 49- Rs 119 Rs 45- Rs 175 Rs 55- Rs 150 Rs 120- Rs 250 Rs 120- Rs 230 Beverages Rs 25- Rs 50 Small- 300ml Rs 35- Rs 45 Small 300ml Rs 30- Rs 55 Small 300ml Pet beverage MRP 600ml Rs 30 600 ml Deserts Rs 12-Rs 25 Rs 20- Rs50 Rs 15- Rs 65 Rs 40- Rs 60 Rs 25 100 ml Cup of Baskin Robbins (Diagram 3) Market share (worldwide): Company Stores Countries Market share McDonalds 31108 120 33.06% Burger King 11455 58 13.68% Wendys 8811 22 11.69% Hardeess 3295 15 2.78% Jack in the Box 2000 1 3.67% (Diagram 4) McDonalds India: Network competitors Company Outlets (No.) Cities Covered McDonalds 132 34 Pizza Hut 137 34 Dominos 220 42 Subway 131 32 KFC 34 09 (Diagram 5) Bruce Craig, Keith R. Dickson, International Business Management, Network competitors [Online], available at: http://www.slideshare.net/KRDickson/McIndia-Final-ppt [20/12/2010] Through adding 700-900 restaurants annually, McDonalds enter new markets through lower prices. It shows a great barrier to entry for competitors to enter the industry. Through its strong centralized authority tight control, standardized procedures McDonalds takes most an efficiency approach. Key elements of McDonalds business strategy; Adding 700-900 restaurants annually. Giving low price products, Extra offers through new menu items. Highly selective in granting franchises. Selects most convenient places to customers. Focused on limited product lines through maintaining the quality. Extensive advertising. Proper HR management through equitable wage good training. McDonalds cost leadership strategy growth strategy is based on; Adding new restaurants. Maximizing sales sales in existing restaurants. Improving profitability (globally) Success behind their business lies in the maximum of Think global, act local. They ensure that their structure fits with the international environment, but also have internal flexibility geographically. McDonalds has twice the market share of its closest competitor, Burger King. :
Monday, August 19, 2019
Wicca Vs. Paganism Essays -- essays research papers
Wicca versus Paganism      Wicca and Pagan are two religions, which have many similarities as well as many differences within each area. Wicca is a sect of Pagan in which each has their own variations on the religion. A good way to put it; all Wiccans are Pagan, but not all Pagans are Wiccan. Witch is a term used for any practitioner of Wicca. The Webster's II Dictionary defines witch as 1. A woman who practices sorcery or is believed to have dealings with the devil, 2. An ugly, vicious old woman; hag. Wicca is described by the American Heritage Dictionary as the cult of witchcraft. Pagan is the religion under which many different religions are practiced. Webster's II Dictionary defines pagan as one who does not acknowledge the god of Christianity, Islam, or Judaism; heathen. Most parts of these definitions are wrong. Wicca is a sect of Paganism, in which different practices are learned, worshipped, and taught. One form of Wicca is Solitary Practitioners the other is Coven Practitioners. The forms of Wicca that are practiced vary in most uses. Solitary Practitioners usually 'pray';, read, meditate, and cast magik and spells alone. Whereas Covenants practice these familiar things amongst a group of anywhere from two people up to thirteen people. In Pagan practices, these things are practiced normally within a group setting of anywhere from two people to hundreds of people. Both practices use a magik circle which is either drawn imaginary or with the use of a broom or sea salt. This is to keep out any negative energy from entering the circle while any type of practice is being done. This keeps the practitioner(s) from any harm or wrongdoing. Both of these religions are nature-based and usually have one of three belief systems in common: polytheism, pantheism, and animism. Both of these religions use many objects in their practices or studies. Both Wiccans and Pagans will use what is called Magikal tools. These are known to include, incense, candles, athames; usually known as a black handled knife, the broom; used to 'sweep'; away negative energies, the cup or chalice; used to hold such things as blessed water, wine and other fluids, the cauldron; used as an instrument in which to cook and for brew making, also used for scrying, and most importantly, the pentacle. The pentacle is usually a flat piece of brass, gold, silver, wood, wax... ...ifferent. Many Pagans prefer to worship within a coven or group. Each person would take on a different aspect within the group. Each person plays a different part within the circle. There is a group of teachers, called the High Priestess and High Priest. The High Priestess and Priest would control any and all worship sessions, much like the Christian churches. Each person thereafter might control a corner, or element, and the less powerful of them all would worship and watch the ceremonies take place. Pagans do not have a Book of Shadows, in which to worship. This religion is an oral based religion, passed down from mouth to mouth. Pagans may rely upon any natural force, such as a body of water, or a natural rock formation. They use these to help them focus energy upon their gods or goddesses. Both, Pagans and Wiccans, have varying religious practices; however, many of them are also similar. Pagans focus more on the group aspect of tradition and the 'old times';, whereas, Wicca is based primarily upon the needs and wants of the witch. This could even include practicing Christianity on the side. Both religions do; however, have in common many uses of tools, spells, and 'prayers';.
Sunday, August 18, 2019
Can One Believe Simultaneously In God And The Big Bang? Essay -- essay
     Where are the boundaries of our mind and soul? Is there a point beyond which we cannot look anymore, where our sights become dim and vaguely disappear in the forever darkness and quietness of eternity? Has our limited knowledge and, at the same time, undeniable need to be able to explain everything, become so obvious and intense that we have to have the answer to every question out there? Religion sometimes may present the answer to our questions, but can one sincerely search for our beginnings by strictly following His word?      Anyone who has ever gazed at the bright summer sky at night, even just for a while, can’t help not to ask himself – Where do we come from? How did all this happen? Who did this and why? Those are the essential questions to which no one up to this date knows the answer. Curiosity of our nature has launched us to the skies in search for those answers. Countless hours of sitting behind the telescopes around the world lurking for that one signal they need to reveal the grand secret and take a peek into those very first seconds of creation - what is known as the Big Bang. Nowadays there is well established idea that whole universe as we know it became from one little tiny spot and in the split of a second it inflated to enormous size and it keeps expanding ever since. How do you explain that to someone who has been raised whole his life in a belief that there is a God up there beyond the sky and th...
Saturday, August 17, 2019
Can We Know When to Trust Our Emotions in the Pursuit?
What is actual definition of emotion? There is no actual definition even though the Oxford Dictionary defines it as: â€Å"The part of a person’s character that consists of feeling†. Emotions are one part of the Ways of Knowing. Primary emotions are: * Happiness * Sadness * Fear * Anger * Surprise * Disgust those emotions are not learnt, they are inborn, because even born blind or deaf people show these emotions. So how did emotions help us in getting knowledge during the history? I think, that the best example of this will be war, as it’s always full of emotions, such as fear, pain, hope, sorrow, loss and others.All of them makes people’s minds unclear and spoiled so they can’t perceive the reality properly. For example, there is a story about the Second World War. One German soldier was in a special group of people who was walking through the villages gathering supplies. Once they have been ambushed by Russian partisans, they split. After some tim e passed, this soldier saw a house burning and a woman who was crying inside. He ran into house and saved her, but on the way back to safe place he has been shot by a Russian soldier. The great misunderstanding happened that day.The heroism of the German soldier was understood as an attempt to kill a woman but not to safe. It happened because Russian soldier was over full with the feeling of hatred and anger to a German and couldn’t think clearly. The other example of the influence of emotions on our knowledge and its gaining is art and what we feel about it. Mainly those feelings which we experience, for example, in front of a painting or while reading a book. In my opinion, a good attempt to explain this would be an example from real life situation. Once I was in the art gallery, and it was a modern art exhibition there.The pictures were pretty weird (that’s what I thought) and I couldn’t understand what they showed. I was thinking about the meaning for a few hours but didn’t get it. So when my parents asked me about how was it I answered them that I didn’t like it. Next time I was there with my father and it was the art exhibition of the scenery paintings. I liked them and I understood the exact meaning of them. I felt warmth of the sunny day, cold of the windy winter and sadness of the autumn just because of the emotions they incident to me.Compare to the modern art exhibition where I didn’t understand anything because paintings didn’t incident any feelings in me that one was much better and it is only because of the feelings inside me – emotions. In conclusion, I would say that even though emotions make our minds unclear and make it much more difficult to understand the reality properly, they also help us to understand the unknown things such as paintings or music due to the emotions they are keeping inside them. What is actual definition of emotion?There is no actual definition even though the Oxfor d Dictionary defines it as: â€Å"The part of a person’s character that consists of feeling†. Emotions are one part of the Ways of Knowing. Primary emotions are: * Happiness * Sadness * Fear * Anger * Surprise * Disgust those emotions are not learnt, they are inborn, because even born blind or deaf people show these emotions. So how did emotions help us in getting knowledge during the history? I think, that the best example of this will be war, as it’s always full of emotions, such as fear, pain, hope, sorrow, loss and others.All of them makes people’s minds unclear and spoiled so they can’t perceive the reality properly. For example, there is a story about the Second World War. One German soldier was in a special group of people who was walking through the villages gathering supplies. Once they have been ambushed by Russian partisans, they split. After some time passed, this soldier saw a house burning and a woman who was crying inside. He ran int o house and saved her, but on the way back to safe place he has been shot by a Russian soldier. The great misunderstanding happened that day.The heroism of the German soldier was understood as an attempt to kill a woman but not to safe. It happened because Russian soldier was over full with the feeling of hatred and anger to a German and couldn’t think clearly. The other example of the influence of emotions on our knowledge and its gaining is art and what we feel about it. Mainly those feelings which we experience, for example, in front of a painting or while reading a book. In my opinion, a good attempt to explain this would be an example from real life situation. Once I was in the art gallery, and it was a modern art exhibition there.The pictures were pretty weird (that’s what I thought) and I couldn’t understand what they showed. I was thinking about the meaning for a few hours but didn’t get it. So when my parents asked me about how was it I answered them that I didn’t like it. Next time I was there with my father and it was the art exhibition of the scenery paintings. I liked them and I understood the exact meaning of them. I felt warmth of the sunny day, cold of the windy winter and sadness of the autumn just because of the emotions they incident to me.Compare to the modern art exhibition where I didn’t understand anything because paintings didn’t incident any feelings in me that one was much better and it is only because of the feelings inside me – emotions. In conclusion, I would say that even though emotions make our minds unclear and make it much more difficult to understand the reality properly, they also help us to understand the unknown things such as paintings or music due to the emotions they are keeping inside them.
Macroeconomics and Government Essay
How are presidential election outcomes related to the performance of the economy? 2. (7 points) Discuss the difference between Microeconomics and Macroeconomics. 3. (10 points) Use the concepts of gross and net investment to distinguish between an economy that has a rising stock of capital and one that has a falling stock of capital. â€Å"In 1933 net private domestic investment was minus $6 billion. This means that in that particular year the economy produced no capital goods at all. †Do you agree? Why or why not? Explain: â€Å"Though net investment can be positive, negative, or zero, it is quite impossible for gross investment to be less than zero. †4. (7 points) What are the major factors that have affected U. S. household consumption since the recession in 2001? 5. (7 points) Briefly explain how the following would shift the IS function to the right. a. A change to lump-sum taxation (Specify whether increase or decrease is needed to shift IS curve to the right. ) b. A change to government spending (Specify whether increase or decrease is needed to shift IS curve to the right. ) 6. (7 points) Explain briefly how a change to the following MS, MD, or P (ceteris paribus) would shift the LM function to the right. Include in your discussion whether the variable would have to increase or decrease to cause the rightward LM shift. Discuss which of these the FED exercises control over. a. MS. b. MD (money demand). c. P (price index). 7. (7 points) By how much will GDP change if firms increase their investment by $8 billion and the MPC is . 80? If the MPC is . 67? 8. (10 points) Suppose that private sector spending is highly sensitive to a change in interest rate. Compare the effectiveness of monetary and fiscal policy in terms of rising and lowering real GDP 9. (10 points) Assume that a hypothetical economy with an MPC of . 8 is experiencing severe recession. By how much would government spending have to increase to shift the aggregate demand curve rightward by $25 billion? How large a tax cut would be needed to achieve this same increase in aggregate demand? Why the difference? Determine one possible combination of government spending increases and tax decreases that would accomplish this same goal. 10. (7 points) What are government’s fiscal policy options for ending severe demand-pull inflation? Use the aggregate demand-aggregate supply model to show the impact of these policies on the price level. Which of these fiscal policy options do you think might be favored by a person who wants to preserve the size of government? A person who thinks the public sector is too large? 11. (10 points) Explain why relatively flat as opposite relatively steep labor demand curves are more consistent with the empirical observation that there are relatively minor changes in the real wage rate over the course of the business cycle. 12. (7 points) Is sustainable long-run equilibrium always reached when the AD and SAS curves intersect? Why or why not? 13. (7 points) If the equilibrium real wage remains constant, what happens to the nominal wage when the actual inflation rate exceeds the expected inflation rate? 14. (7 points) â€Å"In the steady state, the government benefits from inflation. †Explain. Answers Question 1. Studies have proven that presidential election outcomes are definitely related to the performance of the economy. The winning presidential party retains the office of presidency while personal income grows at a faster, higher rate than the long-term rate. The incumbent presidential party will be voted out of office when income grows at a rate lower than the long term rate. Question 2. Microeconomics meaning small, is a branch of economics that studies the behavior of individual households and firms by making decisions on the allocation of limited resources. Normally, it applies to markets where goods or services are bought and sold. Macroeconomics meaning large, is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy in a whole, rather than individual markets like in Microeconomics. This includes national, regional, and global economies. Question 3. Depreciation + Net Investment = Gross Investment if I rearrange it, it will say; Depreciation – Gross Investment = Net Investment Since capital stock of an economy only rises when net investment is positive, that is when gross investment exceeds depreciation. So naturally the capital stock falls when net investment is negative, that is when gross investment is less than depreciation. In 1933 net private domestic investment was minus $6 billion. This does NOT mean the country produced no capital goods: what it means is that the production of capital goods was less than what was lost due to wear and tear, thus the net impact was an overall loss in capital stock. Gross private investment in most cases cannot be negative, since you can decide not to invest in new factories, but how do you decide to make a negative investment on an economy wide scale. Question 4. Household consumption has been diminishing or is flat to be honest. Income and employment rates have slowly been declining or stays in one particular place. Energy producers have increased the percentage of household budgets for fuel and electricity. According to economics, it shows minimal growth since 2001. Question 5. The IS function is the investment-saving function. A shift to the right implies that for any given level of output the interest rate has gone up, and vice versa. Now for the examples: (a) A change in lump-sum taxation: A lump-sum reduction in the tax rate has the same effect as increased government deficit with people and firms increasing their spending, pushing out the IS curve. (b) A change in government spending: Increased government spending will have the same impact as lower savings, and will push the IS curve to the right Question 6. The LM function is liquidity preference minus the money supply. It tells that real money balances are a primary function of the interest rate and real income. This is usually represented as M/P = L(r, Y), which states real money balance M/P, where M is nominal money balance and P is price level, depends on the real interest rate r and real output Y. An increase in money supply will cause the LM curve to shift to the right, thus lowering the equilibrium interest rate and increasing the equilibrium output. An increase in the demand for money should have the same impact: shift the LM curve to the right. If the price level falls the LM curve will shift to the right since real money balances will increase in such a case. The Fed has control over the nominal money supply but not on money demand and price level. Money demand depends on the transaction demand of money and the Fed cannot influence the prices (they are determined by the market and customers) so as powerful as the Fed is they cannot influence demand for money. Question 7. If MPC = 0. 67, multiplier = 1/1-0. 67 = 1/0. 33=3. Income should increase to 3Ãâ€"8 so it would end up at $24 billion. If Mp = 0. 8, Multiplier = 1/1-0. 8=1/0. 2=5, income should increase to 5Ãâ€"8 so it would end up at $40 billion. Question 8. Ok, if the private sector spending is highly sensitive to changes in interest rates then the monetary policy will be more effective in determining the movement of real output. This is due to the fact that a small rise in interest rates then a small reduction in money supply will quell any demand-pull inflation and therefor bringing the economy back to the long-run equilibrium. While a small reduction in interest rates should push up the aggregate demand in similar measures. Government policy has a bigger impact on the autonomous part of aggregate expenditure and hence will have a lower impact in such a scenario. Question 9. MPC = 0. 8, we can say that the multiplier, which is defined to be Multiplier = 1/MPS = 1/(1-MPC) then is equal to 5. So, we increase AD by $25 billion the government has to increase spending by $5 billion. A larger tax cut would be needed to achieve the same goal since people do not want to or wish to spend everything they get. Given that people are spending 80% of each additional dollar if the government provides a tax cut of $5 billion I would say people would only spend $4 out of that. Thus the final impact will be 4Ãâ€"5 = $20 billion. To get people to spend $5 billion, the government has to lower taxes by $6. 25 billion (6. 25Ãâ€"0. 8 = 5 if the formula I used). Any combination that hopes to achieve the $25 billion raise in AD will have to increase initial spending by at least $5 billion. Suppose the government increase spending by G and provides a tax cut T, then any combination that satisfies: G + 0. 8T = 5 will serve the purpose. Question 10. The government has two options when it wants to influence the macroeconomic: A. it can change taxes or B. It can change its spending patterns. If economics is facing a demand-pull inflation it means AD is rising quicker than expected. The four components of AD are; 1. household consumption (C), 2. gross private investment (I), 3. government expenditure (G), 4. Net exports (NX). Normally we would take I, G and X to be exogenous variables. Soto curtail a demand-pull inflation the government has to work on somehow curtailing consumption (C) and imports (M), or we can also cut down its own personal spending. The two options with the government in such a case then would be: (a) Cut down government spending: a reduction in G will then also make a reduce in AD. (b) Increase taxes: This would bring down the disposable income and will then also bring down both C and M. For a person who wants to preserve the size of the government the second option I think would be a better choice, since the government is retaining its size and is still able to bring the requisite change in AD. A person who thinks public sector is too large will opt for the first move, reducing G, since that will immediately mean the government has become smaller. Which I personally would vote for, out government could use a little trimming. Question 11. The simplest way for me to look at it is like this; If the demand curve is flat, then a reduction or an increment in labor demand does not alter the price at all. But on the other hand, if the demand curve is, then an equivalent change in demand has much bigger change in the wage rates. Empirical results suggest that wages are sticky, and the steep labor demand curve cannot explain this observation. Question 12. When the AD and SAS intersect it is called a â€Å"short-run macroeconomic equilibrium. †This is NOT sustainable unless it the intersection point falls on the LAS curve. The reason is any such intersection to the left of the LAS curve will not be using any resources, and companies will have an incentive to increase production without putting too much pressure on the costs, while an intersection to the right will put too much inflationary pressure therefor making it unsustainable. Question 13. Inflation- Nominal Wage Rate = Real Wage Rate So therefor, Expected inflation- Expected Nominal Wage Rate = Expected Real Wage Rate. It can also be written as; Expected Real Wage Rate + Expected inflation = Expected Nominal Wage Rate. If the equilibrium real wage rate remains constant, meanwhile inflation exceeds expected inflation then the nominal wage rate has to rise, there is no other choice. Question 14. In the steady state, the government benefits from inflation. I assume that the steady state here means the long-run macroeconomic equilibrium. The economy would like some small inflation at some point since with a small inflation the real costs for companies always fall and they have to have an incentive in order to increase production. To see why consider the contracts that companies set up, They are all based on nominal variables. A small inflation will reduce the real value of these contracts, and keeping with the domino affect the firms have an incentive to increase real output at lower real costs. Total output will rise in this particular case, pushing out the LAS curve. The government would also benefit with higher tax earnings.
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