http://www.canada.com/Technology/Facebook+users+names+profile+addresses/1685792/story.html
Summary
The popular online networking website, Facebook, will start allowing users to use their full name as part of the online addresses for their profile pages. Every member will be given a personalized URL that will be in the format facebook.com/ followed by the user’s name. This new method allows for friends to easily find each other. According to Facebook designer Blaise DiPersia, “Your new Facebook URL is like your personal destination, or home, on the web.” Having user names as part of the URLs will make it easier while browsing friends’ pages as well as online search engines such as Google. Facebook’s competitor MySpace has been using personalized user names for close to five years now.
Connection
Facebook is a very popular website that connects friends from all over the world. Since the beginning, when it had just started in 2004, Facebook’s competitor was MySpace. Chapter 10 teaches us the different types of competition that exists , which include: perfect competition, monopoly, oligopoly, and many differentiated sellers. The last category, many differentiated sellers is the circumstance which Facebook and MySpace is competing in, which means that there are a large number of competitors, but each product is unique and there are differences that make it possible to distinguish one product to the next. Facebook and MySpace are very similar in terms of the purpose of the website: an online social network. But their features and what they have to offer are different and that’s what attracts their users. Since MySpace has been using personalized URLs for quite some time now, Facebook has decided that it’s time that they jump in and allow users to have that choice. By doing so, they’re hoping to attract new users to their already growing community of 200 million users worldwide.
Reflection
Just like any other typical teenager, I have already been attracted to this popular online social network. During February of this year, Facebook was ranked as the largest social networking site. I would understand why. Facebook allows childhood friends to reconnect even after they’ve been separated for twenty some odd years. While travelling and meeting new friends, Facebook will easily minimize the distance between the two friends. What I love about Facebook is that there’s a security feature that allows the user to set their privacy level. Whether they would like to only have their friends be able to see what’re they’re up to or allowing the whole world in on the details. This will keep away all unwanted predators, so users will not be unsafe while using this online social network. MySpace on the other hand, does not have this feature, and anyone will be able to access a user’s page. This could be one of the reasons why Facebook has surpassed MySpace as the largest social networking website.
Saturday, June 13, 2009
Tuesday, June 9, 2009
Chapter 8: Fall in Jobless Claims Not Strong Enough
http://network.nationalpost.com/np/blogs/tradingdesk/archive/2009/06/04/fall-in-jobless-claims-not-strong-enough.aspx
Summary
Initial jobless claims have dropped in the United States by 4,000 resulting 621,000 reported for the last week of May. The overall unemployment numbers dropped 15,000 to 6.74 million, which is the first time the numbers looked favourable since the start of the year. This circumstance suggests that our economy is improving. According to economist Robert Gordon, “the four-quarter average of jobless claims is a very consistent predictor of economic recovery in past recessions”. These jobless claims provide insight as to whether or not the economy is going to improve or worsen. The jobless claims started to rise when the US economy stalled in 2007. During the middle of that year, the claims were roughly 325,000 workers, but now the numbers have doubled.
Connection
Employment or rather unemployment in this article relates to the unemployment and inflation trade-off as well as the automatic stabilizers, one of which includes employment insurance. When it comes to unemployment, it cannot be simultaneously related with inflation. When unemployment becomes a problem, the government will attempt to increase the level of spending. This increase in spending appears to be good since it will result in a higher demand for workers while lowering the level of unemployment, but at the same time, it increases prices that in return increase inflation. If attempts were made to decrease the rate of inflation, cutting back on spending must be achieved first. This, unfortunately, will result in more unemployment. When graphing the inverse relationship between unemployment and inflation, we can determine that we stand at the high unemployment rate and low inflation area. Since the economy is not doing well, it’s obvious that unemployment numbers are up. In attempt to stimulate more spending, the inflation rate is low as well. Automatic Stabilizers are government programs that are run to react automatically to help adjust the level of aggregate demand when economic conditions change. When workers are out of job, like in the article, the income becomes 0, which results in less spending. Employment insurance exists so that the unemployed citizens can still have some income and be able to spend. This will limit the negative results of unemployment on the economy.
Reflection
When given the figures from the article on unemployment, I cant help but think that this will be bad for our economy. But then I realize that these higher unemployment numbers are actually positive for citizens, because it would means less inflation. This is very good for the average consumer who is still employed. Since they are still getting the same income and prices aren’t increasing rapidly, they will not have to be worried, even in times of recession, like now. Despite the high unemployment numbers, I am not worried because there are automatic stabilizers. With the governments help, the unemployed citizens will be able to receive employment insurance that will help them pass by these tough times.
Summary
Initial jobless claims have dropped in the United States by 4,000 resulting 621,000 reported for the last week of May. The overall unemployment numbers dropped 15,000 to 6.74 million, which is the first time the numbers looked favourable since the start of the year. This circumstance suggests that our economy is improving. According to economist Robert Gordon, “the four-quarter average of jobless claims is a very consistent predictor of economic recovery in past recessions”. These jobless claims provide insight as to whether or not the economy is going to improve or worsen. The jobless claims started to rise when the US economy stalled in 2007. During the middle of that year, the claims were roughly 325,000 workers, but now the numbers have doubled.
Connection
Employment or rather unemployment in this article relates to the unemployment and inflation trade-off as well as the automatic stabilizers, one of which includes employment insurance. When it comes to unemployment, it cannot be simultaneously related with inflation. When unemployment becomes a problem, the government will attempt to increase the level of spending. This increase in spending appears to be good since it will result in a higher demand for workers while lowering the level of unemployment, but at the same time, it increases prices that in return increase inflation. If attempts were made to decrease the rate of inflation, cutting back on spending must be achieved first. This, unfortunately, will result in more unemployment. When graphing the inverse relationship between unemployment and inflation, we can determine that we stand at the high unemployment rate and low inflation area. Since the economy is not doing well, it’s obvious that unemployment numbers are up. In attempt to stimulate more spending, the inflation rate is low as well. Automatic Stabilizers are government programs that are run to react automatically to help adjust the level of aggregate demand when economic conditions change. When workers are out of job, like in the article, the income becomes 0, which results in less spending. Employment insurance exists so that the unemployed citizens can still have some income and be able to spend. This will limit the negative results of unemployment on the economy.
Reflection
When given the figures from the article on unemployment, I cant help but think that this will be bad for our economy. But then I realize that these higher unemployment numbers are actually positive for citizens, because it would means less inflation. This is very good for the average consumer who is still employed. Since they are still getting the same income and prices aren’t increasing rapidly, they will not have to be worried, even in times of recession, like now. Despite the high unemployment numbers, I am not worried because there are automatic stabilizers. With the governments help, the unemployed citizens will be able to receive employment insurance that will help them pass by these tough times.
Chapter 7: Canadians cutting their renovation spending
http://www.canada.com/business/fp/Canadians+cutting+their+renovation+spending/1667362/story.html
Summary
Researchers at Altus Group reported that it is expected that renovation spending will decline 5% this year. “Even with a new tax credit, Canadians have cut their renovation spending after 10 years of steady growth” The federal government has introduced a tax credit of up $1,350 on $10,000 spent in renovation that was completed before February of 2010. According to the Altus Group, most of the renovations would have occurred even without the tax credit. Last year the renovation spending was $21.3 billion which was $1.6 billion higher, compared to the year before. The housing sector, which is hugely dependent on the renovation industry, had a value of $53 billion last year. Altus Group says that it’s not all pessimistic. With reasons such as the aging houses with There hope in the sector after all!
Connection
The topic that Chapter 7 covers is “Money and the Canadian Banking System” and when citizens are given a tax credit, it acts as money for them. First off Canadians would spend money on renovation, then they would get a tax credit off their income tax. Even though they're not actually getting actually money back in return, they are getting some type of currency. Having this tax credit, reduces the amount of income tax that they would have to pay. This is extremely good if the family is making a lot of income.
Reflection
Knowing that the government offers a tax credit for citizens when they spend on renovation, I would strongly suggest to my parents to fix up the house! This move that the government has decided on will act as an incentive for families just like my own. Although my parents have been thinking of getting some work done on the house, they've just been too lazy to getting around to it. But now that they're aware of the tax credit, and the deadline of February 2010, that should be able to motivate them.
Summary
Researchers at Altus Group reported that it is expected that renovation spending will decline 5% this year. “Even with a new tax credit, Canadians have cut their renovation spending after 10 years of steady growth” The federal government has introduced a tax credit of up $1,350 on $10,000 spent in renovation that was completed before February of 2010. According to the Altus Group, most of the renovations would have occurred even without the tax credit. Last year the renovation spending was $21.3 billion which was $1.6 billion higher, compared to the year before. The housing sector, which is hugely dependent on the renovation industry, had a value of $53 billion last year. Altus Group says that it’s not all pessimistic. With reasons such as the aging houses with There hope in the sector after all!
Connection
The topic that Chapter 7 covers is “Money and the Canadian Banking System” and when citizens are given a tax credit, it acts as money for them. First off Canadians would spend money on renovation, then they would get a tax credit off their income tax. Even though they're not actually getting actually money back in return, they are getting some type of currency. Having this tax credit, reduces the amount of income tax that they would have to pay. This is extremely good if the family is making a lot of income.
Reflection
Knowing that the government offers a tax credit for citizens when they spend on renovation, I would strongly suggest to my parents to fix up the house! This move that the government has decided on will act as an incentive for families just like my own. Although my parents have been thinking of getting some work done on the house, they've just been too lazy to getting around to it. But now that they're aware of the tax credit, and the deadline of February 2010, that should be able to motivate them.
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