Discuss How Rising Oil Prices Might Affect the...

Discuss how rising oil prices might affect the macroeconomic performance of an economy. (25 marks) There are four main macroeconomic objectives of the government it wishes to achieve in order to maximise the welfare of the society, they are: low and stable inflation, a favourable current account position on the balance of payments, low unemployment and sustained economic growth. One macroeconomic objective that might be affected by rising oil prices is the current account of the balance of payments. The current account is a record of the trade in goods and services, income flows, and current transfer. The balance of payments is a record of the financial transactions over a period of time between a country and its trading partners.†¦show more content†¦As consumption is a component of AD, the AD curve will shift leftwards from AD1 to AD2.With inflation devaluing money, workers will likely ask for higher wages so that their real disposable incomes will be the same as previously before prices rose. This would also mean firms’ costs of production will rise causing the SRAS curve is shift leftwards, this will likely lead to a fall in investment from firms into research and development due to the lack of business confidence, so less new products will be created and produced, potentially slowing down economic growth. This will shift the LRAS curve a nd AD curve leftwards, as investment is a component of AD and economic growth is represented by LRAS (factors of production). However, in the economy of an oil-exporting country, AD will likely be high due to high profits when exporting oil to foreign consumers. This would mean that there will be an increase in the balance of trade due to an increase in (X-M) causing the AD curve to shift rightwards causing demand pull inflation. In order to produce more output to meet the increased demand, firms are forced to bid for increasingly scarce resources, raising their costs. They therefore require a higher price to be willing to supply more. With exports rising, the price elasticity of demand is low and there is a relatively small decrease in quantity demanded for oil. Therefore export revenue will probably rise, resulting in an improvement on the current account. Overall theShow MoreRelatedFluctuating Price of Oil and How It Affects the Global Economy5248 Words   |  21 PagesFluctuating price of oil and how it affect the global economy Abstract: The oil prices have started rising significantly since the initiation of the twenty first century. Theoretically, one can judge the impact of an oil price shock. The immediate effect of the oil price shock is the increased cost of production due to increased fuel cost. This creates an inflationary effect (mainly cost push inflation which is accompanied by a situation of unemployment). 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Essay about Qualitative Analysis Discussion - 856 Words

DISCUSSION: Qualitative analysis is used to determine the presence of cations or anions present within a sample and their impurities. Information known, such as chemical and physical properties, about cations and anions can be used to determine what steps should be used to separate the sample into one, specific ion. Qualitative analysis involves forming and decomposing complex ions. Qualitative tests are very sensitive, allowing to detect a very small amount present in sample. Due to sensitivity, cleaning utensils and accurate observations are essential to results. Many basic principles are applied to determine the impurities or cations. To determine which impurities are present, scheme or flow chart is followed. Scheme is used†¦show more content†¦In every step, there was a precipitate and supernatant liquid. This lead to students being able to determine which exact ion is present in solution. A solution containing three unknown ions (#3) was then tested. Procedure was carried out accordingly to lab manual. Determined ions present in solution were Fe3+, Cr3+, and Cu2+. The confirmatory test for Fe3+ that was used was , K4Fe(CN)6 add to a precipitate containing Fe3+. A dark blue precipitate formed which is a positive result, Fe3+ is present in this solution. Continuing procedure, Cr3+ presence was confirmed in step 9 by dissolving the precipitate with HNO3 then adding 5 drops of diphenycarbazide (dcp) solution. The supernatant was yellow then a sudden change to pretty, dark pink/purple after the first drop confirmed chromium presence. The reason for the color change is because chromium is reduced and dcp is oxidized. Further, along in the procedure, another positive test revealed the last ion present, Cu2+. The confirmatory test of copper revealed a positive result. This test was actually performed a couple of times to get a positive test due to skipping of a solut ion. Copper was confirmed by adding K4Fe(CN)6 to supernatant. 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Personailty Disorders in the Workplace Free Essays

People with personality disorders characteristic tend to have chronic inflexible styles of perceiving themselves, and interacting with others varies. (Ward, 2004) Personality disorders are typically some of the most challenging mental disorders to treat, because they are part of an individual and their self-perception. Treatment according to Ward, (2004), most often focuses on increasing coping skills, and interpersonal relationship skills. We will write a custom essay sample on Personailty Disorders in the Workplace or any similar topic only for you Order Now This paper will discuss a few of these disorders, such as Antisocial Personality, Borderline Personality disorders, and Insomnia. I will attempt to describe the various disorders and how they affect employer/employees in the workplace. We will look at the symptom logy observed by co-workers and/or supervisors for those with the different disorders. I will provide similarities and difference in how supervisors or co-workers would intervene with people with these disorders. The end result will be to provide appropriate organizational intervention strategies for those living with these disorders. Antisocial Personality Disorders (APD) According to (Babiak, and Hare. 2006).Personality disorder behavior, is like a disease, is antiquity, and nothing about it changes. Antisocial personality disorder (APD) is one of the disorders describe in the Psychopath in the Workplace: A Cautionary Tale, written by Paul Babiak and Robert D. Hare. The authors describe how a common misconception is that antisocial disorder refers to people who have poor social skills. On the contrary, the opposite is often the case, instead, APD is characterized by a lack of conscience people with this disorder are prone to criminal behavior, believing that their victims are weak and deserving of being taken advantage of. Babiak, and Hare, 2006) Antisocial tend to lie and steal according to the authors. Often, they are careless with money and take action without thinking about consequences. They can sometimes become aggressive and are much more concerned with their own needs then the needs of others. â€Å"They may appear to be superior. † Candidates for business leadership position and many of them rise to the positions of power and influence in business community. † (p. 2) The authors express how a socially facile psychopath may expertly deceive the average person. Snakes in suits† is the term the authors used to describe an antisocial person. (p. 2)They give descriptive lucid, richly detailed guide for corporate business professionals who are interested in understanding how important and often unrecognized behavior syndrome is acted out in the workplace. They believe this knowledge and information they give in their book Snakes in Suits: When Psychopaths Go To Work is essential if â€Å"socially responsible and ethical individuals are to protect themselves and their organization against ruthless, fraudulent, manipulative behavior. (P. 2. ) It’s imperative that leaders and employees become aware and knowledgeable of this behavior if they are to protect themselves and their resources from exploitation. (Babiak, and Hare, 2006) These individual may appear impressive, because of their motivated ambitiousness, social charm, and self-confidence, yet closer observation of their behavior and inspection of their motives reveals that they posses qualities of ruthless exploitations deceitfulness, pathological lying, and a wiliness to use antisocial and even criminal behavior to achieve their goals. Babiak, and Hare, 2006) According to Babiak, Hare (2006) the symptoms that antisocial personality disorder display, and should be observed by leaders, and employees are as followed:  ·Disregard for the feelings of others  ·Impulsive and irresponsible decision-making  ·Lack of remorse for harm done to others  ·Lying, stealing, other criminal behavior  ·Disregard for the safety of self and others Borderline Personality Disorders Borderline personality disorders are described by Babiak, Hare,(2006), characterized by mood instability and poor self-image.This disorder, according to the authors was named because it was originally thought to be at â€Å"borderline† of psychosis. The disorder is relatively common, affecting 2% of adults. Women are more likely to suffer borderline than men. Nearly 20% of psychiatric hospitalizations are due to this disorder. (Babiak, and Hare 2006) People with this disorder are prone to having mood swings and or bouts of anger. Often taking anger out on themselves, causing pain and injury to their own body. They are suicidal, and think in black and white terms, which often form intense, conflict-ridden relationships.They are quick to anger when their expectations are not met. The symptoms that employers/employees may observe are: Self-injury or attempted suicide Strong feelings of anger, anxiety or depression that last for several hours Impulsive behavior Drugs or alcohol abuse Feelings of low self-worth Unstable relationships with friends, family, and boyfriends/ girlfriends and co-workers Treatment could involve therapy in which the patient learns to talk through his/her feelings rather than unleashing them in destructive and self-defeating ways.Medication may be helpful, and treatment of any alcohol or substance abuse issued should be required. Insomnia We have looked at Antisocial Personality Disorder (APD), and Borderline Personality Disorder (BPD). However, now I would like to prevent Insomnia, a disorder that is profound and many people suffer everyday because of it. According to authors of Handbook of Mental Health, Insomnia in the workplace is characterized by many different behaviors. People who suffer from insomnia call into work more because they are sick more.Insomnia can have a negative affects on the workplace, reducing the ability of affected employees to maintain adequate productivity and safety on the job, impairing their overall quality of life. (Thomas, and Hensen, 2002 p. 351) People who suffer from insomnia are slower to complete assignments and short attention spans. Some people even put themselves and co-workers into dangerous situation if they are driving or working heavy machinery. Treatments for insomnia is commonly bought at most grocery stores. Sleep aid like â€Å"SleepyTime† can be purchased easy to help sleep.However, using medication can cause addiction, and cover up what’s really the problem. Psychological treatment can aid in getting to the â€Å"root† of the problem. (Thomas, Henson, 2002 p. 358). Durand, Barlow, (2010), created a list of psychological treatments for insomnia, which are; cognitive, guided imagery relaxation, graduated extension, paradoxical intention, and progressive relaxation. (Durand and Barlow, 2010, p 332) Leaders and employees who need to recognize the symptoms and behavior that an Insomniac may display: Lateness Absent Sleeping on the jobPre occupied Unmotivated Bosses and co-workers who are aware of each other â€Å"normal’ work habits can observe and offer intervention, and resources that can help people with this disorder strive for effective treatment. (Thomas, Henson , 2002, p. 363). Supervisory Intervention When considering intervention, Employee Assistance Programs (EAP’s) maybe one of the more comprehensive means of addressing psychopath in the workplace. (Thomas, Hensen, 2004). Organizational leadership can play a tremendous role in the implementation of treatment modalities in the workplace.The members of the Leadership should make as many attempts as needed and possible to maintain and environment with minimal stressors. Leaders and organizations that have the holistic well-being of everyone involved, should implement healthy, well being programs, that are designed to improve productivity for everyone involved. Supervisors must observe, and realize the impact of unhealthy behavior to the organization, like cost, law suits, accidents, violence, and decrease of production and increase in expenses due to sickness / work compensation.Supervisors need to focus and observe behavior respectful approach the situation, without alienating or making the person feel as if gossip or singling out is not the goal. Leaders need to be empathic, and genuinely concern with ones well-being; excellent communication skills and being well informed coul d enhance the probability of the person with the disorder agree to intervention. EAP programs are designed to address a multitude of issues that plague the workplace. The programs and find alternative resolution, to help elevate stresses that prevent productivity.Furthermore, employees have an obligation to themselves, as well as their employers. Telling someone that a problem exists could save time, money, and mental illnesses. Observing a fellow employee who is having difficulties should be reported to supervisors, and not gossip about amongst fellow employees Subsequently, we all must become responsible for the healthy well-being of ourselves and find balance in our personal lives, in order to live stress free and well- rounded.References 1) Durand V. M, Barlow D. H. , (2010) Essential of Abnormal Psychology , Belmont, CA, Wadsworth, Census Learning 2) Hare, R. D, Newman, C. S. (2006) , Handbook of Pschopathy , New York Gulford Press 3) Illinois Institute for Addiction Recovery, (2005-2009), Proctor Hospital 4) Thomas, J. , Hensen, M. (2002), Handbook of Mental Health in the Workplace. Thousand Oak, CA: Sage Publication. 5) Ward, K. R. (2004), American Family Physicians, Leawood. How to cite Personailty Disorders in the Workplace, Papers