NIAGA ENGLISH TASK 1

ASSIGNMENT 1

Nama : Mirza rezia Litsbarki

NIM : 018559767

Fakultas : Ekonomi

Jurusan : Manajemen

Semester : 1

UPBJJ : Samarinda

Answer the following questions briefly!

1. In brief explanation, what is meant by business cycle?
2. Mention the economic indicators used to determine the state of general economic activity, especially in the future!
3. What does Federal Reserve System consist of? Explain it briefly!
4. Mention who can trade gold for currency?
5. In your own words, how do you define GATT?

Good Luck!

Answer :

1.      Business Cycle is sequence of economic activity typically characterized. They are recession, fiscal recovery, growth, and fiscal decline.

2.      Economic Indicators is a statistic used for judging the health of an economy, such as GDP per head, the rate of unemployment or the rate of inflation. Such statistics are often subject to huge revision in the months and years after they are first published, thus causing difficulties and embarassment for the economic policymakers who rely on them.

3.      Federal Reserve System consist of  12 reserve district, each with its own regional federal reserve bank. These are overseen by the federal reserve board, consisting of seven governons based in washingthon, DC Monetary policy is decided by its Federal Open Market Committee. 

4.      Goverment, and investor can trade gold for currency but for now, everybody can trade gold for currency because gold is very limited. Generally, goverment and investor which trade gold for currency.

5.      GATT is an agreement signed in 1947 whose purpose was to promote global trade between members through a reduction in tariffs. GATT is the vehicle for promoting internaional free trade, through a series of rounds of negotiations between the goverments of trading countries. The first GATT round began in 1945. The last led to the establishment of the world trade Organization in 1995.

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