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Economic questions on GDP, unemployment and CPI

1. Gross Domestic Product equals the (Points: 1) total output of all goods and services produced by resources located in the U.S. market value of all goods and services produced by resources located in the U.S. market value of all final goods and services produced by resources located in the U.S.

Metrics for Evaluating Argument Papers

Paper The following questions are based on the book The Economics of Integrity, by Anna Bernasek. (1) What is the author's argument about the relationship between integrity and economic performance? (2) What examples does she present to support her argument? (3) Since the book has been published are there examples of compa

Poverty Today and in the Past

Go to the following website, www.census.gov, and select Poverty. Then use the information on this site to answer the following questions: What is the official poverty line? Is the number of people higher or lower than it was last year? Ten years ago? Why? How many states had an increase in the poverty rate compared to

Macroeconomics Test Preparation 4

I'm requesting assistance with the below questions in order to prepare for an exam. The course is "Macroeconomics" author: Robert J. Gordon 11th edition text. I'd appreciate any assistance with these questions? 23) As an individual, you cannot participate in the financial markets to issue new stock or sell new bonds becau

Macroeconomics Test Preparation 3

I'm requesting assistance with the below questions in order to prepare for an exam. The course is "Macroeconomics" author: Robert J. Gordon 11th edition text. I'd appreciate any assistance with these questions? 17) Supply siders argue that policies pursued by the Reagan administration after 1981 undermined the effect of th

Macroeconomics Test Preparation

Need assistance with the below questions. 6) What is the growth rate of multifactor productivity if b = 0.20, k = 3, n = 1, and y = 4 a) 2.4 b) 0.4 c) 2.8 d) 1.0 16) Which of the following beliefs is not part of supply-side economics? a) A sharp reduction in corporate income taxes would discourage U.S. corp

Calculating the Effect of Removing Tariff

Question 1: (a) Suppose that the government of Arcadia, a small country, is considering the removal of a 20% tariff on denim jackets. Currently 100,000 jackets are imported per year, out of a total annual consumption of 200,000 jackets. The import cost (i.e. without the tariff applied) is $25 per jacket. At that price it

Implications of Implementing a Legal Minimum Wage

The implementing of minimum wage is similar to the creating of a price floor for a product or service, but in setting a minimum wage there is an important factor, which is the market equilibrium rate or ideal per hour wage for unskilled labor.

Real GDP

1 What is the February 2010 unemployment rate in the U.S.? 2. What is the most recent quarterly Real GDP for the U.S.? 3. Is the U.S. still in a recession according to your answer for #6? 4. What is the January 2010 Consumer Price Index for All Urban Consumers (seasonally adjusted) in the United States?

News industry notes

The bank is looking for new clients in high-growth industries. Until a few years ago, if a consumer wished to purchase music, he or she would have to buy a recording of it at a store, but there is only a limited supply of compact discs, tapes, or records at any given store. Because of advancements in technology, consumers can no

Unemployment rate

The size of the labor force in a community is 800, and 720 of these folks are gainfully employed. In this community, 200 people over the age of 16 do not have a job, and are not looking for work. In addition, 100 people in the community are under the age of 16. The unemployment rate is:

Supply and demand of a winery

1. Suppose you are the manager of a California winery. How would you expect the following events to affect the demand and/or the quantity demanded for your product? Briefly explain. a. The price of comparable French wines decreases. b. One hundred new wineries open in California. c. The unemployment rate in the US decreases

Should the government minimize unemployment rate

1.Should the government minimize unemployment rate? What will happen if the unemployment rate is too low? Share your opinion with the class. 2. In your opinion, what is the most common reason for hyperinflation? How hyperinflation can affect standard of living? Share your ideas/opinion.

Understanding Macroeconomic Conditions

What is macroeconomics? What role does macroeconomics play in your personal financial decisions and the decisions that your organization makes? What are the resources that are available to you in your efforts to understand current macroeconomic conditions?

Economic questions

1. What determines price in a free market? 2. What are the conditions of perfect competition. Name each and explain with an example how the real markets can violate one of more of these conditions. Finally, and this is important, why would a firm want to violate them. 3. What is the relationship between inflation and un

Normative versus Positive statements

4) Identify whether the following statements fall into normative or positive economics. Explain: (3 marks each) a) An increase in price causes a decrease in quantity demanded. b) Lowering unemployment through government job creation creates inflation as well. c) The best way out of the recession is through budget cuts

labor force participation rate

Using the information in the following table, answer the following questions: Component Number of people (millions) Total population 246 Working-age population 207 Labor force 139 Employed 133 Unemployed 6 - What is the unemployment rate

Forecasting/Policy

1. What is the current business cycle situation in the U.S. today (Fall 2009)? Discuss each sector of aggregate demand (C+I+G+X), interest rates, and inflation. 2. What macroeconomic policy mix do you anticipate that the President and the Federal Reserve FOMC will set for 2010? Where would you find the formal statements of t

Assess

1.) Assess the overall economic health of our nation and the economic health of the federal government. 2.) Given your response to the above as it relates to the federal government...what strategies do you believe the government should pursue (given the projected future state of our economy) to better position itself give

Question

Discuss the income and consumption relationship make sure to define marginal propensity to consume. If you received an extra dollar, how much of it would you spend? Why is the aggregate demand curve downward sloping? Specify how your explanation differs from the explanation for the downward sloping demand curve for a sing

ECON_Q2

Please see attachment. -------------------------------- 1. The purchase of financial assets such as stocks and bonds is not included in GDP because a. taxes are paid on them. b. brokerage firms don't want them to be included. c. they are too expensive. d. when households buy stocks and bonds, they are making lo

asymmetric impact of monetary policy

Although the US economy might be in even worse shape at the present time if the Fed had not reduced its Fed funds target between August 2007 and January 2009 from 5.25% to .25%, the unemployment rate has risen to almost 10% and we have officially been in a recession since January 2008. Why have the Fed's rate reductions not had

Questions for Micro Paper

I want to answer the following question to incorporate in my paper with about 150 to 200 words and at least two references, one from Colander: Economics,Seventh Edition. Using the following professional information: I currently work as a Assistant Director of Admissions (college recruiter) for an online university, enro

A Society's Economy

1. If a bus company adds a third daily bus between two cities, the company's total costs will increase from $500 to $600 per day, and its total revenue will increase by $150 per day. should the company add the third bus or not? 2. List the three basic questions we can ask about a society's economy

Macro Question

The recently passed (Winter, 2009) "American Recovery and Reinvestment Act" contains a mix of tax rebates, tax credits and increases in various transfer payments (such as extension of unemployment compensation). It also contains funding for a large number of infrastructure spending projects and some funding for scientific resear

Calculating Unemployment and Participation Rate

Using the information in the following table to calculate the unemployment rate and the labor force participation rate. Component Number of people (millions) Total population 300 Working-age population 258 Employed 145 Unemployed 10.

Keynesian general theory

Analyze the effects of an increase in the money supply within the Keynesian model where the price level and money wage is fixed. Include in your answer the effects on real income, the price level and the interest rate. Discuss any three reasons why Keynesian assume the money wage is fixed and in particular, rigid or inflexible d

Managerial decision making: Market Structures

I need help answering the following questions: 1) Creat a solution using strategic variables available to you to sustain the economic profits a business can earn. 2) What are some of the pricing strategies that you would recommend? 3) What are some of the non-pricing strategies that you would recommend? 4) What kind of inno

Two Articles Relating to the Principles of Economics

Identify two of the Ten Principles of Economics. I need help finding 2 articles from website http://www.economist.com about the economy that have been in the news lately. For each story, identify 2 Principles of Economics which are current, and identify one unique principle for both articles. The Ten Principles of Economics ar