Essays on The European Union: Investigation of How Low Taxation Resulted In Higher Economic Growth Case Study

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The paper 'The European Union: Investigation of How Low Taxation Resulted In Higher Economic Growth' is a great example of a Macro and Microeconomics Case Study.   Every country seeks economic growth for it to be better placed economically against other countries in terms of size. Economic growth is a concept that is an integral part of achieving both the macro and microeconomic balance. It is defined in terms of production capacity and the consumption level of goods and services. Following this, it is generally an increase in the total production capacity and the consumption factor in a country.

Evidently, the term only focuses on the size of an economy, as opposed to how better off an economy is against different factors (Centre for the Advancement of the Steady State Economy, 2015). It thus measures the increased prosperity of a state. They characterize the absolute results of macroeconomic business objects. These indicators are also needed to compare the macroeconomic objects, with different quality characteristics such as national economies, which are at different levels of development, or societies that are the different structures of their productive forces.

Economic growth means a regular, steady expansion of the economic system, which is to increase the size of the applied social labor and manufactured product - goods, and services. Economic growth is the main problem of quantitative and qualitative development. Furthermore, economic growth is in the specific dynamics quantitatively increase and qualitative improvement of social productivity and the factors that produce it. There are two main types of economic growth extensive and intensive. Extensive type of economic growth - is expanding production based on a quantitative increase in its production factor in maintaining the preliminary technical and technological parameters and qualifying them.

Intensive type of economic growth is expanding production through qualitative improvement of its operating factors in improving organizational and economic relations of production (a division of labor, specialization, and cooperation of production, etc. ). This increase is achieved by increasing the employees who can develop their professionalism, the use of innovative tools and items of work, the use of more rational production potential. This increases the pro-labor productivity and efficiency.

References

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Romer, M., 2010. Economic Growth: Compound Rates of Growth. 2 ed. s.l.:Aplia Graduate

School of Business: Stanford University.

The EU Commission, 2012. Tax reforms in EU Memebr States:Tax policy challenges

foreconomic growth and fisca sustainabilityl. Taxation Papers, Volume 34, pp. 1-124.

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Domestic Product growth rates, with latest forecasts and historical data, GDP per capita, and GDP composition by sector.. [Online]

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[Accessed 18 April 2015].

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[Accessed 17 April 2015].

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