question archive 1)How does volunteering help macroeconomic issues, like unemployment? 2)Macroeconomics: What is the difference between productive and non-productive activity? 3)What indicators should I use on a macroeconomic analysis of a country? 4)What are the main 4 macroeconomic objectives?
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1)How does volunteering help macroeconomic issues, like unemployment?
2)Macroeconomics: What is the difference between productive and non-productive activity?
3)What indicators should I use on a macroeconomic analysis of a country?
4)What are the main 4 macroeconomic objectives?
1)Volunteering plays a significant role in finding solutions to various macroeconomic issues, such as unemployment and economic growth. Ideally. Volunteering places the individuals concerned in a better position to improve their skills as well as making connections. Long periods of joblessness are often associated with mental and physical ill-health. Besides, Unemployed individuals have low self-esteem due to low confidence levels and lack of experience, making them reluctant to seek jobs. Volunteering programs improve the confidence levels and also enhances the development of skills, further improving the competency as well as the chances being employed.
Volunteering also improves economic growth as various programs such as engaging in strategic planning, educating the community, and blood drives help to improve public knowledge and skills to enable them to participate in productive economic activities such as starting small businesses. It is worth noting that blood drives play a crucial role in reducing mortality rate hence improving a country's population, which boosts the availability of labor for the production sector leading to improved productivity and economic growth.
2)The productive activities are referred to as an activity that contributes to gross domestic product of the country. It includes all the transaction that contributes to generation of money income in the economy. Productive activities are also called economic activities. Consumption expenditure, government spending, investments contributes to productive activity.
Non- productive activities are referred to as an activity that does not contribute to the formation of gross domestic product of the country. It includes non monetary transactions. These activities are also called non-economic activities. Non productive activities include love and care of parents for their children, all the household work done by mothers for their children are some of non productive activities.
3)The following indicators are the most significant when analyzing the macroeconomic performance of a country.
4)Macroeconomic objectives are;
a) To maintain price stability, where prices are effectively monitored to avoid inflation.
b) To attain full employment, where all productive factors of production are efficiently used in production to realize potential production levels of an economy.
c) A high rate of economic development which is sustainable over time.
d) Maintaining a balance of payments in equilibrium, where exports are equal to imports.