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ECONOMICS ASSESSMENT
Workshop Question1 -
What are the arguments for and against using GDP as a macroeconomic indicator (measure) of economic well being?
Workshop Question2 -
Select a country that has experienced a recession in the past and explain what caused the recession and briefly describe its impact on that economy.
Your source for the information required should be the central bank of the country you select.
Please cite the source at the bottom of the page under references. Avoid direct quotation from the source and in-text citations are not required.
Workshop Question3 -
Free trade is beneficial to developing nations.
Critically analyse the above statement with reference to one specific developing nation.
Please answer each question in your own words. The three questions above are from topics1-4 that may be explaining theory or applications of theory or critical reflections on theory. In each case, students will be required to develop a thesis statement and write 350 words for each question to defend their thesis. In total what you submit must not exceed 1050 words.
Your answer, application or critical reflection should include a thesis statement that answers or responds to the topic by giving your position, or stating your argument, clearly and concisely. The thesis statement tells the reader what to expect from the rest of your written work and should relate to the theory discussed in the lectures. The thesis statement should be followed by a coherent and logically argued defense of the statement. Ensure that your writing is as clear, concise and precise as possible. Ensure that you proofread your writing and that it is free from spelling and grammatical errors. You will lose marks for poor spelling and grammar and for blogs that have not been adequately proof read and edited. 350 words for each of three topics.
Consider a two-country model. Assume that the Current Account Balance is initially positive for one country. Assume that a permanent positive shock to production affects the country which initially had a positive current account balance.
Many would consider the US Postal Service a publically good. Is this assumption valid.
Assume the marginal cost of production is greater than the average variable cost. Can you determine whether the average variable cost is increasing or decreasing? Explain.
Interferences such as rent controls and farm value supports reduce efficiency of markets. In terms of the balance of Qd and Qs, explain why do they do this?
Explain how does the Concept of Comparative Advantage actually "prove the advantages" of free trade to both countries involved in a transaction.
Common contracts take place in the daily flow of commerce transactions, and in cases with sophisticated or expensive promises may involve extensive negotiation and various conditions precedent requirements?
1. Poverty in the USis defined as having insufficient resources to meet one's basic needs. A. In your view, what are the five most important basic needs? B. Did you include health care/medical care among them? Explain why or why not.
Suppose a natural real output in the economy of Eudemonia grows at a steady rate of 3 percent per year. In the past, velocity has been approximately constant, and the Eudemonia Central Bank (ECB) has maintained a target rate of growth of 4 percent
How independent is the Federal Reserve? Based on the experiences of the Fed in the U.S., as well as other central banks, do you believe that the Fed should be independent?
Initially, suppose A is an incumbent monopolist (i.e., B is currently not in the market), what is the monopoly price, quantity, and profit? Invoking the Sylos Postulate, how much would B want to produce (i.e., B enters the market) if A stuck to t..
Suppose that, other things remaining unchanged, the price of X falls to $1. What quantities of X and Y will you now purchase.
However, because the market is so new, reputations for quality have not yet developed, and consumers cannot tell the quality difference between an Ajax digital and a Knockoff digital just by looking at them.
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