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Jamaica_en.pdf
Jamaica_en.pdf

... In terms of wages, under an agreement in April 2009, public-sector wages were effectively frozen for three financial years, which will come to an end in March 2012, although scheduled increments to public servants have continued to be paid. In light of several rounds of price hikes last year, notabl ...
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... • 1. SURPLUS –INCOME > SPENDING ...
Jamaica_en.pdf
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... forestry and fishing. Meanwhile, positive growth in the services sector is expected to be broad-based. In the crucial hotel and restaurant sector, growth of no more than 2.6% is expected, as arrivals from the United States and Europe, the country’s two largest source markets, declined by 1.5% and 3. ...
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... The chapter contains selected statistical indicators, which provide an instrument for comparisons among economies of countries of the European Union and some other countries. These indicators are compiled by Eurostat from data transmitted regularly by national statistical institutions, some data are ...
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... down 0.25 percentage points on year-end 2012, an improvement attributable to an expected fall of 0.5 percentage points of GDP in the goods balance deficit. The latter will be partially offset by a 0.25 percentage point increase in the income account deficit. The expected US$ 210 million increase in ...
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... Population pyramids are a good way to get a breakdown of a country’s demographics based on age and gender. These demographics can then be used to determine what stage of the demographic transition a country is in. All data will be collected at the U.S. Census website: ...
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... contacting your financial adviser or Challenger by calling our Investor Services team on 13 35 66 or visiting our website www.challenger.com.au. All examples are hypothetical and for illustration purposes only. They are based on our understanding of current law, which may change at a future date. Al ...
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... as strengthening trade and investment links with other countries. Close ties were also forged during 2008 with Brazil and the Russian Federation, two very important emerging economies. With both Cuba signed cooperation agreements heralding enhanced economic links in the future. Full diplomatic relat ...
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... unauthorized aliens. Was that argument credible? Why or why not? [United States v. Tipton, 518 F.3d 591 (8th Cir. 2008)] Sample Answer: Conviction affirmed. The evidence was sufficient to support the convictions for hiring and harboring illegal aliens. Given the way the restaurant was run and the di ...
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... relaxes the constraint that the benefits received by any generation must be matched by its own contributions. Samuelson (1958) showed that with a PAYG scheme it is possible in principle for every generation to receive more in pensions than it paid in contributions, provided that the rate of growth o ...
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Pensions crisis

The pensions crisis is a predicted difficulty in paying for corporate, state, and federal pensions in the United States and Europe, due to a difference between pension obligations and the resources set aside to fund them. Shifting demographics are causing a lower ratio of workers per retiree; contributing factors include retirees living longer (increasing the relative number of retirees), and lower birth rates (decreasing the relative number of workers, especially relative to the Post-WW2 Baby Boom). There is significant debate regarding the magnitude and importance of the problem, as well as the solutions.For example, as of 2008, the estimates for the underfunding of U.S. states' pension programs range from $1 trillion using the discount rate of 8% to $3.23 trillion using U.S. Treasury bond yields as the discount rate. The present value of unfunded obligations under Social Security as of August 2010 was approximately $5.4 trillion. In other words, this amount would have to be set aside today such that the principal and interest would cover the program's shortfall between tax revenues and payouts over the next 75 years.Some economists question the concept of funding, and, therefore underfunding. Storing funds by governments, in the form of fiat currencies, is the functional equivalent of storing a collection of their own IOUs. They will be equally inflationary to newly written ones when they do come to be used.Reform ideas are in three primary categories: a) Addressing the worker-retiree ratio, via raising the retirement age, employment policy and immigration policy; b) Reducing obligations via shifting from defined benefit to defined contribution pension types and reducing future payment amounts (by, for example, adjusting the formula that determines the level of benefits); and c) Increasing resources to fund pensions via increasing contribution rates and raising taxes.
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