Macroeconomics Assignment Example | Topics and Well Written Essays - 1000 words - 1

Macroeconomics - Assignment Example The main difference between GDP and GNP is that GDP measures total income in a nation, while GNP measures total income by a nation’s residents. GDP is the more widely relied upon statistic by business, policy makers and the public. The change in GDP is used to calculate whether a nation’s economy is expanding or contracting. As the broadest measure of a nation’s economic activity it indicates the overall health in the economy. As the broadest measure it is heavily relied upon by business and policy makers to plan as well set monetary and fiscal policy. While the general public may not use GDP because of the effects of GDP on business and policy officials they are impacted as well. For business leaders the main use of GDP is in planning and investment. One way business leaders can use GDP and GNP in combination is to determine where revenue is being earned. By comparing GDP to GNP they can determine whether there is growth in income is coming from domestic or foreign sources. GDP and GNP are also traditionally used in business cycle forecasting. By looking at the trends and changes in GDP it can allow businesses to plan for turns in the business cycle rather than simply reacting. These decisions have an impact upon the general public in the form of job creation or cut backs by businesses. For policy makers GDP is a signal used in creating monetary and fiscal policy as well as measuring its effectiveness. If the economy is growing too quickly policy makers can apply contractionary policy such as raising interest rates and taxes to cool the economy. If the economy is contracting they can then use expansionary policy, such as low interest rates, tax reductions and government investment to boost the economy. Government expenditures are of particular importance as they are directly taken into account in GDP. By increasing expenditures the government can turn a recession into an expansion single handedly. This

ISMG Essay Example | Topics and Well Written Essays - 500 words - 1

ISMG - Essay Example We would ask our customers and employees to leave suggestions and comments in our suggestion boxes placed inside the cafà © and also on our websites in order to encourage an open line communication. With coming suggestions and comments we would be able to know our lacking and immediately start working to improve our services. We here in Broadway Cafe use e-business strategy to be in touch with our customers and also to attract new consumers. As we are working with online business services we keep our customers update with new offers. We will give opportunity to our customers to create an online account to give them opportunity to keep in touch with us. Our registered customers will get periodic offers and discount through email. We will use social media for promotions and customer attractions. There could be three easy ways for our customer to keep in touch with us easily. E-business strategies being very cheap advertising solution will help Broadway Cafe to attract customers and grow sales and providing encouragements for customers to visit the cafe. The advertisement will contain promotional discount coupons for encouraging more purchases which will also increase sales. Cafà © Broadway could take advantage by effectiveness metrics. Our website will get our name out to the general public, promoting special deals and offers, etc. With the use of effectiveness metric, we will be able to get feedback from our customers and to see how much consumers are satisfied with Broadway Cafe. We will use tracking options on our website to track the amount and number of time visitors spends on our website. We would use online ordering process to communicate the requirements to our partners and suppliers. Online website also give us an opportunity to setup an online ordering system for customers for online ordering. We can use email for communication with our partners and suppliers. Online communication is the easiest way for us to reach our