Explain important characteristics of the economy

Assignment Help Macroeconomics
Reference no: EM1368552

1.The production possibilities curve is an important model of how much an economy can produce given resources and technology.
a. What characteristic of the economy causes the production possibilities curve to bow outward. Explain.

2. The Circular Flow diagram is model of how the economy works. Explain how the model would change if the following events occurred:
a. Households increase savings.
b. Drastic spending cuts are implemented by the government.

3. looking at types of economic systems, which one closely resembles the US economy. Explain and support your answer.

 

Reference no: EM1368552

Questions Cloud

Determine new equilibrium level of aggregate expenditure : Given an MPC of .8, if the C+I equilibrium level of aggregate expenditure is $600 billion, then government expending of $50 billion is included, Determine new equilibrium level of aggregate expenditure?
Create a diagram for many-to-many relationship of entity : One-to-many or many-to-many relationship. Then, using short-hand notation introduced in text, create a diagram for each of the relationships.
Explain develop arguments by applying the concepts of global : Explain Develop arguments by applying the concepts of global marketing to the 2006 Winter Olympics facts.
Explain two examples of companies that are making : Explain two examples of companies that are making successful use of BOTH promotion mix strategies
Explain important characteristics of the economy : The production possibilities curve is an important model of how much an economy can produce given resources & technology.
Determine the average seek time of traversed disk : Traversed Disk receives request to access random sector on random track. Suppose head starts at track 0. Determine the average seek time?
Explain mass customization and rapid product development : Explain Mass customization and rapid product development were identified in our readings as current trends in modern manufacturing operations.
Why fluids are important in chemical engineering : Why fluids are important in chemical engineering - enormous number of materials normally exist as gases or liquids, or can be transformed into such phase and explain systematic description of change in fluid systems, mechanical change
Explain what are the implied forward rates : Explain What are the implied forward rates in the 2nd and 3rd years and What are the yields to maturity on these three US Treasury Strips?

Reviews

Write a Review

Macroeconomics Questions & Answers

  Illustrate what do you think would be the effect

Illustrate what do you think would be the effect of increases/decreases in the dollar's exchange value on the firm's profitability.

  Formulas for this problem among with a detailed explanation

Please comprise in your response, the formulas for this problem among with a detailed explanation of how it is solved, and your rationale for reaching your conclusions.

  Social problem where free marketplace are not allowed

social problem where free marketplace are not allowed to function and describe how free market features could be introduced to help alleviate the problem.

  Compute the opportunity cost and absolute advantage

You have the following information concerning the production of wheat and cloth in the United States and the United Kingdom:

  Assume bill and hillary notice prices are higher in high

Assume Bill and Hillary notice prices are higher in high rent districts. Bill says it's because high rents cause high prices. Hillary says it's because high prices cause high rents. How do I explain who is right and why.

  Problem of the book assuming that the utility is cobb-dougla

Consider the problem of the book assuming that the utility is Cobb-Douglas (U (C, l) = C α l β )

  The impact of real gdp the unemployment rate

Also address the impact of real GDP, the unemployment rate, and the inflation rate as measured by the consumer price index (CPI).

  Tax on aggregate labor supply curve

Use both an individual's indifference curve and budget line, and the aggregate labor supply curve to explain and illustrate your answer.

  Static classical ad or yp model

Using the static classical AD/YP model, demonstrate the effect of each of the following changes.

  Rising jet fuel cost recently led most major us

Rising jet fuel cost recently led most major U.S. airlines to raise fares by approximately 15 percent. Explain how this substantial increase in airfares would affect the following:

  Explain how much would a buyer have to pay for one call

Ignoring transaction price explain how much would a buyer have to pay for one call option contract.

  Vulnerability analysis

Vulnerability Analysis

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd