How to Reverse-Outline Your First Draft

Step by step instructions to Reverse-Outline Your First Draft Step by step instructions to Reverse-Outline Your First Draft Step by step instructions to Reverse-Outline Your First Draft By Mark Nichol You realize that delivering a diagram is a successful procedure for helping you compose your composition. Regardless of whether the substance is a novel, a meeting, a survey, or some other type of composition, going before the real composition with a system a various leveled vertical rundown, a shot rundown, an interconnected trap of words or expressions gives a basic plan. Yet, have you at any point utilized an opposite framework? A converse diagram is an evaluative device you make after you’ve composed the substance. Albeit any sort of diagram is reasonable for this undertaking, for your first opposite layout, utilize the customary roman numeral/roman letter set structure. In the event that you’re turn around laying out a novel or an article of in excess of a couple of pages, start with a solitary part or an area so you don’t overpower yourself. Number each passage. On a different piece of paper, or in another online record, list the central matter (I), trailed by the auxiliary focuses (A, B, C). Do this process again, on or in a solitary report, for each section. Once you’ve finished the blueprint, audit it and decide if a section is overloaded by more than one point, regardless of whether the focuses you’ve distinguished are the ones you need to accentuate, and whether any focuses are unnecessary or lost. What's more, consider whether the outline’s association, and by expansion the section or article’s association, mirror your expectations. If not, choose whether you have to reconsider your goal or the yield. (Clue: It’s a lot simpler to adjust a theme or a proposal proclamation to a bit of composing than the converse.) Invert laying out encourages you revamp passages as well as the whole work. On a section level, decide if you have to consolidate, partition, embed, erase, or move. For the work all in all, reexamine as important to fabricate a contention or convey an account. Rehash the procedure as important for a more drawn out piece and if, for instance, a broad article has five areas that you’ve invert laid out in the same number of steps, turn around layout the entire article also. Need to improve your English in a short time a day? Get a membership and begin accepting our composing tips and activities every day! Continue learning! Peruse the Fiction Writing class, check our well known posts, or pick a related post below:50 Idioms About Legs, Feet, and ToesComma Before ButHow Many Sentences in a Paragraph?

Compare and contrast the writers presentation of Gatsby and Heathcliff Essay Example For Students

Investigate the authors introduction of Gatsby and Heathcliff Essay He has a lady, Myrtle in New York, and self-admits that now and again I go off on a binge. This exemplified by the maidservant on their special night and Tom being God knows where when Daisy was conceiving an offspring proposing to the peruser that it was with another lady. In complete and conspicuous difference to Toms various issues, Gatsby is completely given to Daisy to whom he feels marry. Tom is a generally fabricated, conceited man with acquired cash and position, portrayed by Fitzgerald of having a merciless body that appears to mirror his character and disposition along these lines wherein Brontes scene reflects Heathcliffs. Fitzgerald guides us to have a negative and low perspective on Tom. This appeared by him being marked a prude and communicating supremacist conclusions: next theyll toss everything over the edge and have intermarriage among high contrast. Gatsby, in all out complexity, is held, delicate, from poor beginnings; who developed himself to his present high station. We are guided by Fitzgerald to favor Gatsby, who is depicted as having something lovely about him and it is by examination with Tom that Gatsbys really charming characteristics are underscored. There is additionally an incongruity among Tom and Gatsby in the way that despite the fact that Tom is very much reared and Gatsby is from the lower classes of America, it is Gatsby whom we see as the better man, unreasonably useful for the general public he has ascended into and which eventually turns into the passing of him. Heathcliff is stood out emphatically from Edgar Linton. They, much the same as Gatsby and Tom, share just their adoration for a similar individual, for this situation Cathy. Edgar is illustrative of the privileged society in the nineteenth century. He is taught, slight of bearing and with an affluent, advantaged legacy. Heathcliff is a conundrum, found in the city of Liverpool; he is exposed to brutality and hardship all through his childhood by Hindley and this (mentally typically) brings about a disturbed adulthood. Heathcliff, as his name recommends, is intently attached to the wild and is demonstrative of the Romantic development which underlined the characteristic, and dismissed society as a confining substance. Heathcliff, not at all like Fitzgeralds Gatsby, is seen in a for the most part pessimistic light by the peruser; in spite of the fact that it could be contended that we have sympathy towards him due to what he has endured a damaging youth and the loss of the main individual he genuinely cherishes. The extreme desolation and sorrow of detachment is evident all through the novel, coming about, toward the end, with Heathcliff practically willing himself to kick the bucket. Then again, his demonstrations of viciousness and noxiousness are practically reprehensible. Heathcliff controls Isabella Lintons expressions of love for him, in the end eloping with her, to hurt Edgar for taking his Cathy. Another case of the dash of vindictiveness in his character is the place he naturally gets Hareton when he is dropped by Hindley and communicates the intensest anguish at having made himself the instrument of upsetting his own vengeance. This demonstration could appear in any case, that Heathcliff has an inborn level of humankind avoided the world since he instinctually connected with get Hareton. This is a region of complexity between the two creators introduction of Gatsby and Heathcliff. Fitzgerald decides to make his hero well seen by the peruser, both through his activities and by being coordinated to help him by Fitzgerald through Nick. Bronte decides to introduce Heathcliff as a severe, oppressive Imp of Satan whom we are coordinated to not charm to. Fitzgerald fuses the utilization of gossip in his introduction of Gatsby. This is rather than presentational methods utilized by Bronte. Gatsby, all through the novel is portrayed as a nephew or cousin of Kaiser Wilhelms, a German government operative during the war and is believed that he slaughtered a man once. The plenty of gossipy tidbits about Gatsbys life and past adds to the confounding impression we get of him. While Heathcliff is additionally a conundrum Bronte decides not to uncover or even guess (through characters in the novel) about the wellspring of his riches or his natural legacy, anyway Nelly suggests, trying to cheer Heathcliff that Who knows yet your dad was Emperor of China and your mom an Indian sovereign. The Wild Honeysuckle Poetry Analysis EssayIn the course of this quarrel there is a case of how we are guided as a peruser by Fitzgerald to favor Gatsby. Tom is portrayed to be Flushed with his enthusiastic rubbish, practically inciting Nick to be enticed to giggle. Fitzgerald additionally names Tom a prude while in Gatsby Nick encounters one of those reestablishments of complete confidence in light of Gatsbys admission that he didnt go to Oxford. Looked at the Brontes Heathcliff we experience nothing of the sort. In Wuthering Heights the books significant encounter is the place Edgar Linton hails Heathcliff at Thrushcross Grange. Edgar depicts Heathcliffs nearness as an ethical toxic substance that would defile the most upright, Bronte here introducing Heathcliffs character through exchange and relationship with different characters. This statement gives us a knowledge into Heathcliffs nature as a toxin that could degenerate any individual, regardless of whether they are idealistic. Bronte further investigates Heathcliffs character in this encounter when Heathcliff counters that Cathys sheep (Edgar) is at risk for parting its skull against my knuckles showing Heathcliffs savage and enthusiastic nature. This encounter additionally serves to show Brontes utilization of account gadget in having the storyteller, Nelly, present in significant occasions of the novel as when she is approached to get help for Edgar, she is frustrated in leaving by Cathy. It is in this scene that Bronte presents the trademark among Heathcliffs qualities of him being a ruining impact. It is Heathcliff who is normally connected with savagery however during this frequency it is Edgar who strikes Heathcliff full on the throat a blow that would have leveled a slighter man. Both Fitzgerald and Bronte use encounter as a way to create Gatsby and Heathcliffs character. Taking everything into account both Bronte and Fitzgerald utilize an assortment of procedures in their introductions of Gatsby and Heathcliff. Regardless of the way that the two books were composed hundreds of years separated there are numerous likenesses in the writers introduction. Then again the periods where the books were composed run over obviously, for example, the Romanticism impacts in Wuthering Heights and the experiences into the jazz time in The Great Gatsby. Gatsby is introduced to be a character of respectable heart, unreasonably useful for the general public into which he raises himself up to and who is at last, and heartbreakingly, crushed by it. Heathcliff is introduced as a despot, fit for mercilessness and perniciousness that is offset by the staggering sorrow experienced by him. Vital to the two books is the subject of adoration and the tremendous demonstrations of human capacity and experiencing that can stem it. They likewise investigate love as an all-devouring power that can go about as, in Gatsbys case an explanation behind living and bettering himself, or in Heathcliffs case a purpose behind passing on.

Great Strong Essay Topics

Great Strong Essay TopicsSometimes a powerful essay topic can be written from the standpoint of a desire to help other people. It is not a subject for one who seeks to understand what others see, but it can often be an important motivation for an essay writer as well.Commonly the examples of great strong essay topics are those that relate to the need to protect the environment, or to the belief that family is best when it is made up of committed parents and children. The former is one that is familiar to many, but not all. The latter theme may well be more popular with the older generation, but it is certainly not that of the majority of writers.There are several other great strong essay topics. Often they relate to someone's desire to reduce their carbon footprint, or to have less household waste, or simply to buy food that is grown locally or in the farm supply. In each case the aim is to find something good to say about what we value and believe. This may be something as small as a desire to learn a few useful tips, or something as large as something as simple as having children be treated as human beings.These are some of the more popular subjects to write essays about, but some other examples of powerful essay topics include work-life balance, religion, and the creation of a sustainable future. If we look at religion, we find an extremely important topic that has been around for many years. It is probably the one that we most want to research ourselves, so finding ways to tackle it is important.There are many other areas of interest that can be great strong essay topics, including environmental issues, so if you feel that you have something to say, don't be afraid to seek the help of others. There are certainly so many people interested in making the world a better place, that there is no doubt that it will get done, no matter what the challenges may be. The key is to be sure that you are not only positive about what you want to say, but also that you put a lot of thought into the topic and keep yourself from letting others influence your writing. This can be very difficult to do when you are overly influenced by those who will provide feedback, but it can be done.Of course it is important to know what to write about in order to make your topic useful. Whether you are writing about something you want to write about yourself, or you are writing about something you believe to be important, it is always a good idea to choose a topic that you really want to research and write about. People who are normally reliable sources for information often have strong opinions about what they think is important. It is usually helpful to them to help guide you to the right topic.For many of us the topic of great strong essay topics is likely to be something related to writing the best possible essay. By taking the time to research and prepare the topic you can not only write an exceptional essay, but you can also give voice to those values that are i mportant to you.

Tax Deduction Tips for Classroom Teachers

In a perfect world, school budgets would overflow with cash for the classroom. Teachers could buy all the supplies they need to optimally instruct their students. The words taxes, deductions, and receipts would apply only to our personal finances. Welcome to reality, teachers. Teaching in the 21st century means you are most likely cash-strapped and scrounging for even the most basic supplies. But if you spend even a dime of your own money to teach your students, you simply must save receipts and claim the costs on your taxes as a deduction. Even the IRS itself reminds teachers each year to claim their classroom expenses on their tax forms. How Teachers Can Minimize Their Personal Taxes You must work in public or private elementary or secondary schools for at least 900 hours as a teacher, instructor, counselor, principal or aide.You may deduct up to $250 of qualified expensesIt is recommended that you keep all of your receipts and documentation in a folder labeled Educator Deductions and the applicable year.Eligible supplies must be ordinary and necessary and they include unreimbursed costs for books, computer equipment including software and services, supplies, and other materials used in the classroom.You do not need to explicitly itemize the expenses. As you can see, its not particularly difficult or time-consuming to save a little money on your taxes with these education deductions. The hardest part is remembering to save receipts and immediately filing them in a single, well-labeled location that you will be able to easily find at tax time. If you have a hard time staying organized and managing the paper piles that come along with the teaching profession, check out these practical tips for winning the paper war in the classroom. Disclaimer: Consult your local tax professional to verify current tax laws in your state.

Against Animal Experimentation Essay - 1700 Words

Against Animal Experimentation Imagine having a headache and not having aspirin to take, or being diabetic and not being able to take certain types of insulin (Williams 3). It seems impossible that these drugs could be unavailable to humans, but they would not be attainable had scientists not tested these drugs on non-animal subjects. Contrary to what many people believe, testing drugs on animals often give defective results. â€Å"More than 205,000 new drugs are marketed worldwide every year, most undergo the most archaic and unreliable testing methods still in use: animal studies† (PETA 1). Although animals may seem the like ideal specimens for testing new drugs, the experiments are untrustworthy and can cause unknown side effects.†¦show more content†¦Furthermore, animal experimentation can keep effective drugs off of the market. It’s very possible that many drugs that have been tested on animals were found to be deadly or involved serious side effects but if tested on humans could have b een found to successfully cure or treat a specific disease. Even though animals sometimes have the same reactions to a disease or drug as humans do, usually the animals experience much different effects. There is also no way for experimenters to notice psychological effects on the animals; and the animals can’t tell experimenters how they feel and what they are experiencing. Animals cannot communicate through words so their frightened voices go unheard. Brettner -3- Physical side effects can be different because humans and lab animals are different species. Animal testing fails to forecast the majority of human adverse drug reactions, which in turn causes almost 5% of all hospital admissions and occur in 10-20% of hospital in-patients (PETA 3). These inaccuracies in animal experimentation can be blamed for many deaths. For example, milrinone, a drug that raises cardiac output, increased survival of rats with artificially induced heart failure. But humans taking this drug who had severe chronic heart failure had a 30% increase in death (PETA1). A rat is different than a pig, which is different than a human. Since every species has their own differences, it is hard to predict any side effects that will occur in allShow MoreRelatedArgument Against Animal Experimentation : Peter Singer And Tom Regan1035 Words   |  5 PagesExperimentation on animals has been a controversial issue for hundreds of years and is still a major issue today. However, we have continued to experiment on animals to test the effects of products such as makeup. Both Peter Singer and Tom Regan would have strong opinions against this experimentation, but they would also have different ways of expressing their view on the topic. They have expressed that animals should be considered to a certain extent that humans and other animals should be treatedRead MoreAnimal Experimentation And Its Effects On Human Life And Survival965 Words   |  4 PagesInstructor Miguel Marrero English 1302 September 18, 2014 Animal Experimentation The various experiments are performed on living animals especially to test the effects of chemical compounds such as new drugs, cosmetics, food additives and pesticides. The application of animals to test a large number of products from household compounds and cosmetics to pharmaceutical has been considered to be a normal strategy for many years. Animal experimentation has existed since ancient times and contributed to humanRead MoreThe Use Of Scientific Testing On Animals1503 Words   |  7 Pageshumans have used animals as means of learning more about the world. The first known vivisection was done by a Greek philosopher, Alcmaeon, in 450 B. C. E (â€Å"Animal Testing† NP). 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Scientists fight for the cures needed to help man kind, but struggle to do so as people fight against their work in progress. But as Jennifer A. Hurley stated, â€Å"History has already shown that animal experimentation is not essential to medicalRead MoreEssay on Save the Animals: Say No to Animal Experimentation!1218 Words   |  5 Pagesfor animals before prescribing them to human beings. However, would it feel good to know that every year, hundreds of thousands of animals are captured from the wild and die just because of these said experiments? For many years now, scientists have been using animals for their laboratory experiments to produce new medicines. Although scientists have been using this proces s for many decades in the field of medicine, it is still a controversial issue for those who are pro animal experimentation andRead MoreEssay about The Good, the Bad and Ugly of Animal Experimentation1197 Words   |  5 PagesThe Good, the Bad, and the Ugly of Animal Experimentation Animal experimentation plays an important role in today’s medical and pharmaceutical advances, but many question the morality of such a use of animal life. Whether one argues that testing different products and drugs on animals is necessary or not, this has become an integral part of developing products. From that Tylenol we pop to get rid of our headache to that perfect shade of pink lip gloss, animal testing is used in order to produceRead MoreThe Annual Yulin Dog Meat Eating Festival1018 Words   |  5 Pagespopular topic of discussion for Animal Rights Activists in the last few months. This festival consists of thousands of dogs ... be[ing] butchered, beaten to death, skinned alive and eaten, every June, a tradition that has happened for many years ( STOP THE YULIN, 2014). This petition on Change.org has raised over 4,355,743 signatures as of today, even though the festival for this year has already occurred. This type of support is monumental, but what about the anima ls that are tested on in UnitedRead MoreAnimal Experimentation Is Cruel And Needs1100 Words   |  5 PagesFreshman Seminar, Per. 1 4 May 2015 Animal Experimentation Animal experimentation is cruel and needs to be banned. It is another form of animal abuse. The animals are locked in cold, tiny cages in laboratories waiting in fear of what might happen next. The animals are being treated cruelly and being injected with substances that the scientists do not know if it will harm the animals. â€Å"Right now, millions of mice, rats, rabbits, primates, cats, dogs and other animals are locked inside cold barren cages

Technology Impact free essay sample

Some of these twentieth century tools include: the adding machine, slide rule, and calculator for performing calculations, the typewriter and word processor for processing text, ND the telephone, radio, and television for communicating. (www. CSS. Princeton. Du/ -?ukulele/theses. HTML) The report will examine how advances in constructing and designing these mechanisms have affected the general society. The second definition is of the way we work. The elements of this phrase can be split up into two main considerations, e. . What we mean by the way and how we define work. The war will be defined for the purposes of this report as the processes that are used by Individuals or organizations. Work shall be defined as when we apply the processes to accomplish some arbitrary task. The third definition is of general society. Society can be defined as a community, nation, or broad grouping of people having common traditions, institutions, and collective activities and Interests. We will write a custom essay sample on Technology Impact or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page (www. M;w. Com. cal;bal/nettled? Ocelot) The report will examine how the technological developments which have occurred in information technology have influenced a broad grouping of people in their common traditions, Institutions and/or collective activities. This broad grouping of people will primarily be those In the Industrialized world of where Information technology is commonly available. The fourth and final working definition in this Introduction Is technological developments. For the purpose of this report this phrase has been defined with a reference to the previous definition of information technology.A development in information technology is any improvement to the mechanism used to store, manipulate, distribute or create information. This report alms to provide a brief summary of these developments. This will be achieved by highlighting only those developments that have influenced general society. Having provided a few working definitions for some of the words in the initial arcograph the aim and scope of the report has been more clearly delimited. How the report will achieve the alma 1 OFF the last thirty years of information technology.

Microeconomics Research Paper Example

Microeconomics Paper Looks at how individual economic agents (I. E. Consumers/ households and producers/firms) make their day-to-day decisions. Macroeconomics: Looks at the overall behavior of the entire economy of a country. So in addition to households and firms, it also looks at the government and frequently at the rest of the world. The four target variables that all macroeconomicss are concerned about are: (1) Gross Domestic Product (GAP): This looks at how much goods and services are being produced in the country (or how much is everyones income taken together). They try o maximize this. (2) Unemployment: This has to do with how many people have Jobs and how many dont. They try to minimize this. (3) Inflation: This looks at how the prices of goods and services are changing. They try to Meltzer this. (4) Economic Growth: This looks at the rate at which GAP Is going up or down. They try to maximize this. Gross Domestic Product (GAP) Goods: Tangible things firms produce and consumers buy. An example is a Philly cheese steak. Services: Intangible castles firms provide and consumers buy. An example Is a haircut. Definition of GAP: It is the value of new final goods and services intended for the racetrack produced within a country in a given period of time. (Note: We will concentrate only on gross domestic product in this class. The book also talks about the related concepts of gross national product, net national product, national income, personal Income, etc. You do not need to study them. ) Keynoters in the definition: Value: This refers to the market price. New: Only newly produced goods and services are counted as part of the GAP. We will write a custom essay sample on Microeconomics specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Microeconomics specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Microeconomics specifically for you FOR ONLY $16.38 $13.9/page Hire Writer So if you buy a second hand 2010 Toyota Campy, then that will not be counted as a part of the GAP for the year 2014. The reason is that this car had already been counted once n the GAP for the year 2010 and to count your purchase again would be counting It twice. In other words, the good Is being sold twice, but It was produced only once. Final: A final good is intended for consumption in the form it is in, whereas an intermediate good is a good that is often used to make other goods. Intermediate goods should not be confused with capital, which is a good that is manufactured for the sole purpose of making other goods. For example, If you buy an ice cream shake, then the Ice cream Is an intermediate $2, the milk and the chocolate sauce is worth $1, the labor is worth $0. 0 and the shop wants to keep a profit margin of $0. 50, then the price of the milkshake to the consumer is $4. So when you buy the milkshake, which is a final good as it is consumed in that form, the GAP goes up by $4. But if we had also counted intermediate goods, then we would also have counted the $2 worth of ice cream and the GAP would have gone up by $6, which would again have lead to double counting. What if you dont purchase an ice cream shake but purchase two scoops of ice cream instead? Then ice cream would be a final good as you are consuming it in that form. Intended for the Marketplace: We only count as part of the GAP goods and services that are produced for the market. So we will not count home production, because when you prepare dinner for yourself in the kitchen then you dont go to the market to sell it. But if you are a gourmet cook and start a take-out business from your home, then your cooking will be counted as a service in the GAP as you are selling your culinary skills to others. We will also not count illegal transactions as part of the GAP as when we talk about markets we dont mean black markets. So money spent on buying pot in Old Town East in Columbus ill not be a part of the U. S. GAP. Even if someone buys recreational marijuana in Colorado or medical marijuana in California (both of which are legal at the state level), the transactions will not be a part of the U. S. GAP as they are not legal at the federal level. Within a Country: The good or service has to be produced within the geographical boundaries of the country. Hence exports will be a part of your countrys GAP whereas imports will be a part of the other countrys GAP. In a Given Period of Time: This is usually a quarter or a year. We only count the good ND services that were produced in that quarter or year, as those produced in other periods will be counted as part of the production in those respective periods. Stock: A stock is a variable whose quantity is measured at a particular point in time. For example, capital is a stock, and so is wealth. Flow: A flow is a variable whose quantity is measured per unit of time. For example, investment is a flow, and so is GAP. A few other flow variables are consumption, government purchases and net exports. Measuring National Income / GAP There are three ways of measuring the GAP of a country. All three methods give us the same final result. (1) Expenditure Approach: GAP is the sum of the total amount spent on new goods and services in an economy over a period of time. GAP = Consumption + Investment + Government Purchases + Net Exports Therefore GAP consists of four components. Net Exports: Net Exports = Exports Imports. So if Chevrolet sells an Impala worth $25,000 to a Mexican living in Cacao, then the transaction is going to raise U. S. Net exports by $25,000 and reduce Mexican net exports by $25,000. (2) Income Approach: GAP is the sum of the total income paid to economic agents in GAP = compensation of employees (wages, salaries, perks) + rent + interest + profit + indirect taxes (why not direct taxes too? ) + depreciation (3) Value-added Approach: Well look at this with the help of an example. (a) Suppose cotton is harvested in Alabama. The bale of cotton is priced at $2. This means that there has been a value added of $2 into the cotton by the seeds, fertilizer, pesticides, (b) A factory in Los Angles purchases that bale of cotton and manufactures cloth with it. The cloth is priced at $6. This means that there has been a value added of $4 n this round by the machinery used, the electricity consumed, the labor used and the profit margin retained by the factory owner from the sale of the cloth. (c) An American Apparel plant in Los Angles then purchases that cloth and manufactures a shirt with it. The shirt is priced at $24. This means that there has been a value added of $18 in this round, once again by the machinery, buttons and threads, labor, profit margin, etc. So the total value-added in the three rounds put together is $(2 + 4 + 18) = $24. So the value-added in the production of one American Apparel shirt is $24. Multiplying this y the total number of American Apparel shirts produced in the U. S. And repeating this exercise for every other good and service produced, the total number that we get the GAP. In the absence of statistical errors, the three methods should give us the same answer. In reality, no country uses the value added method as it is extremely cumbersome. Unemployment Determining a persons status in the labor market: Working Age Population In the Labor Force Employed Not in the Labor Force Unemployed Working Age Population: The number of people 16 and over who are not in Jail, hospital, or some other form of institutional care. Labor Force: Labor force is composed of people who are employed and people who are unemployed. Employed: These are the people who have either a full-time Job or a part-time Job. Unemployed: These are the people who are: and one of the following: (IA) are without work but have made specific efforts to find a Job within the previous four weeks (bib) are waiting to be called back to a Job from which he or she has been laid off. (ICC) are waiting to start a new Job within the next 30 days. Not in the Labor Force: These are the people who dont satisfy the criteria for either employed or unemployed. Examples are stay-at-home parents, retired people, college students and discouraged workers (I. E. Unemployed people who gave up looking for a new Job at least four weeks ago). Labor Market Indicators: We use three main indicators to measure the health of the labor market: (1) Unemployment Rate: Percentage of people who are in the labor force who are unemployed. This tells us how many people want Jobs but cant find one. OUR = (No. Of Unemployed / Labor Force)*100 (2) Labor Force Participation Rate: Percentage of working age population who are members of the labor force. This tells us how many people of working age are willing to take a Job. LEAF = (Labor Force / Working Age Population)*100 (3) Employment-to-population Ratio: Percentage of working age people who have Jobs. This tells us about the availability of Jobs and how well Jobs are matching the peoples skill sets. DEPT = (No. Of Employed / Working Age Population)*100 For the U. S. , according to the 2011 census, the civilian non-institutional population 16 and older was 239,618,000, the labor force was 1 and the number of employed was 139,869,000. Hence the number of unemployed was 13,747,000 and he population that was not in the labor force was 86,001 ,OHO. The unemployment rate would then be 8. 95%, the labor force participation rate 64. 11% and the employment-to-population ratio 58. 7%. Inflation Price level is the average price for all goods and services in the economy. Inflation is an increase in the price level. What if we dont have inflation? We can then have two other possible situations: (1) Deflation: This is the case when prices are falling. (2) Disinflation: This is the case where there is no movement in the price level. Measuring the price level and the inflation rate: Inflation is measured by calculating the percentage change in the price level. Hence, in order to measure inflation, we need to be able to measure the price level. The three most common ways of measuring the price level are: (1) Consumer price index (ICP) or Cost of living index: This measures the change in prices of goods used by consumers. In order to construct the ICP, the U. S. Bureau of Labor Statistics monitors the spending habits of consumers over a certain time period (which is currently 1993-1995) and prepares a basket of the goods consumers commonly buy. It chooses basket in that period. It then adds up the individual prices of all these goods to get the total price of the basket in the base period. Let us suppose that the base period price of the basket comes out to be $210. Next they find the prices of all goods contained in the basket in the current period (say January 2014). Adding up, suppose the current period price of the basket comes out to be $250. Price of the basket in the current period occupancy 2014 the base period 250 = _ * 100 210 = 119. * 100 Price of the basket in How do we calculate the inflation rate from this? The inflation rate is simply the argental change in the price level. occupancy 2014= 119 suppose ICP January 2013 = 109. occupancy 2014 occupancy 2013 Inflation rate = 119-109 * 100 109 * 100 ICP January 2013 ICP for the base period is equal to 100 by definition. Recently the government has switched from using the ICP-W (ICP for urban wage earners and clerical workers) to the C-ICP-U (chained ICP for all urban consumers). The C-ICP-U takes substitution effects into account (for example, if the price of pork goes up then pork is now more expensive but consumers might switch to less pork and more beef to keep their expenditure on meat at around the same level); ICP-W does not. As a result, C-ICP-U increases more slowly than ICP-W (0. 3% less per year according to the COB). This saves the government money as it slows cost of living adjustments given to social security payments. 2) Producer price index (PIP): This measures the change in the prices of goods used by producers. The PIP leads the ICP. The PIP measure price change from the perspective of the seller. This contrasts with other measures, such as the Consumer Price Index (ICP), that measure price change from the purchasers perspective. Sellers and purchasers prices may differ due to gover nment subsidies, sales and excise taxes, and distribution costs. Pips measure average changes in prices received by domestic producers of commodities in all stages of processing (I. E. For both intermediate and final goods). Because producer price indexes are designed to measure only the change in prices received for the output of domestic industries, imports are not included. The U. S. Bureau of Labor Statistics conducts surveys and releases approximately 10,000 Pips for individual products and groups of products each month. Pips are available for the products of virtually every industry in the mining and manufacturing products of industries in the transportation, utilities, trade, finance, and services sectors of the economy. The PIP and the inflation rate based on it are calculated in exactly the same way as with the ICP. 3) GAP deflator: This is the third way of measuring the price level. Distinction between nominal and real variables: Nominal means that the variable has not been adjusted for inflation. Real means that the variable has been adjusted for inflation. Whenever we need to meaningfully compare between two time periods, we need to invert the variables into real terms. Otherwise we will end up with erroneous results. To see why, consider the following example. Let us consider an economy that only produces books. In 2012 it produced 10 books, while in 2013 it produced 12 books. Hence book production grew by: 12 10 10 Now lets bring prices into the picture. Suppose the price of a book in 2012 was $5 and it increased to $7 in 2013. Hence the nominal GAP in 2012 was = $50 and the nominal GAP in 2013 was = $84. Hence the growth rate of nominal GAP was: 84 50 50 Obviously this number is wrong. The reason because of which this number is so high s that we did not adjust it for the increase in price. The right way to compare the situations in 2012 and 2013 is to use the same price level to calculate the value of the GAP for the two different years. For example, if we use the base period (I. E. 2012) price, then the real GAP in 2012 would be = $50 and the real GAP in 2013 would be $(5*12) = $60. If we now compute the growth rate, then it comes out to be the correct number: 60 50 Nominal GAP GAP Deflator = Real GAP ___*OHIO Unlike a price index, the GAP deflator is not based on a fixed basket of goods and services. The basket is allowed to change with peoples consumption and investment patterns. Therefore, new expenditure patterns are allowed to show up in the deflator as people respond to changing prices. However, the disadvantage of this approach is that the GAP deflator measures changes in both prices and the composition of the basket, and so should not be used as a measure of pure price changes in the economy. In practice, the difference between the deflator and a price index on the same set of goods and services is relatively small. The GAP and GAP deflator are both calculated by the Bureau of Economic Analysis (SEA). Economic Growth short period of time in which producers can only vary the labor they employ, and not the capital stock. Long run: A longer period of time, in which both labor and capital stock employed in a firm can be changed. The long run trend in the GAP represents economic growth. This trend is positive for most countries, but can be negative (as is the case with some sub-Sahara African countries). The short run fluctuations around the trend represent business cycles. There are often business cycle downturns around a positive trend. If the GAP goes up from one ratter to the next, then we say that we are in the expansionary phase of the business cycle. If the GAP goes down from one quarter to the next, then we say that we are experiencing a contraction. If the GAP goes down for at least two successive quarters, then we say that the economy is in a recession.