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Economics
Your organization's CEO is concerned that members of the strategic planning committee are not familiar with current economic thought and principles. The CEO has assigned you the task of developing an 875-word report to introduce some of these thoughts and principles. Use Chapters 1, 2, 3, 4, 5, 6 and 7 in Principles of Macroeconomics as your only source.
Explain the following information in your report to members of the strategic planning committee:
• How economists are both scientists and policymakers and what principles society uses to allocate its scarce resources• Using the circular flow model, explain the flow of money and goods in an economy.• How the economy coordinates society's independent economic actors• A country's gross domestic product (GDP) and how it is defined and calculated• How the consumer price index (CPI) is constructed and why it is an imperfect measurement of the cost of living?
What economic principles can be applied to the event or issue and Identify and briefly describe a specific principle that we have covered in one or more of the modules.
what is the underlying message of the following lyrics from keynes?keynes public works digging ditches war has the same
Assume that Dawn is barely scraping by and spends 70% of her income on food so that she can feed her family. Mark this point on the budget constraint.
What countries are involved in the trade dispute? What product (s) are involved and Describe the trade dispute. Who filed the case? What were the circumstances
Discuss informally what you would expect to see in a model of the housing market like the one presented in class, but in which people form expecta- tions of future house price changes by extrapolating from price changes in the recent past.
Draw the payoff trees of each assets
Choco Delite is a manufacturer of fine chocolates. Its monthly rental expense is $1,000,000. It also has $2 million in fixed labor costs. Its marginal costs are $.70 per chocolate bar.
Why is it possible to change real economic factors in the short run simply by printing and distributing more money? Explain why a stable 5% inflation rate can be preferable to one that averages 4% but varies between 1-7% regularly.
How does the U.S. department of agriculture calculate the official poverty level? What government assistance programs does the census bureau consider when calculating household income? What programs are ignored?
Suppose an economy of two firms and two consumers. The two firms pollute. Firm 1 has a marginal savings function of MS1(e) = 5-e where e is the quantity of emissions from the firm.
Suppose you bought a ticket to a football game for $30 and that you place a $35 value on seeing the game. If you lose the ticket, then what is the maximum price you should pay for another ticket?
Which of the following is a correct statement about an organizing campaign? Which of the following is a false statement regarding cross-cultural preparation needed during the phases of an international assignment?
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