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(Part A) Suppose your local Congress representative suggests that the federal government intervenes in the gasoline market to stop runaway price increases. Would you say that this view basically supports the Keynesian or the Monetarist school of thought? Why? What position would the opposing school of thought take on this issue? (Be brief—you can answer this in two or three brief paragraphs.)
(Part B) Any change in the economy’s total expenditures would be expected to translate into a change in GDP that was larger than the initial change in spending. This phenomenon is known as the multiplier effect. Explain how the multiplier effect works.
(Part C) You are told that 80 cents out of every extra dollar pumped into the economy goes toward consumption (as opposed to saving). Estimate the GDP impact of a positive change in government spending that equals $200 billion.
Gomez runs a small pottery firm. He hires one helper at $15,500 per year, pays annual rent of $5,500 for his shop, and spends $21,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth) t..
Val-lok Industries manufactures miniature fittings and valves. The company bought a new machine with $8,000 to improve process efficiency. After 3 year useful life, it will be sold out for $2,500. Prepare a table showing the depreciation expense and ..
Equipment purchased 2 years ago for $70,000 was expected to have a useful life of 5 years with a $5,000 salvage value. Its performance was less tha expected and it was upgraded for $30,000 one year ago. If replaced the existing equipment will be sold..
There have been a number of papers in the literature emphasising the role and importance of network structure in economics, the equilibrium arising therein and the relationship between the topology and other graph properties and the equilibrium.
Tell the story of your firm. What is the name of the firm? What do you produce? Where is your market? You must have a minimum of 10 employees and output of at least 100 units per month. What are your inputs (capital, labor and materials) and your ..
The money multiplier equals 1/R, where R represents the quantity of reserves in the economy. If the money multiplier is 2 and the Fed buys $50,000 worth of bonds, what happens to the money supply? What does the Fed auction at the Term-Auction ..
A business has launched a new product line that has resulted in significant business and related data growth. A database/TPS application is facing issues with using too much disk storage. It is becoming critical and the organization may need to buy a..
Suppose that it costs $15,000 per year to obtain a four-year college education. Assume that the real interest rate is 5% and that there are 45 years beyond college graduation during which an individual will work. What after-tax returns on the investm..
Explain why does this happen. Research the recent history of gasoline pricing in your area, and attempt to relate any fluctuations you observe to documented supply and demand factors.
In no more than 250 words, please (1) describe how you feel this course has helped you to improve your economic knowledge and analytical skills, and (2) assess the course objectives you still do not understand and suggest how to improve the course..
A press release is a story that will be interesting to the readers. Identify a current event that has taken place in the last six months, and calls for a press release. Then, write a press release that incorporates your knowledge of the audience and ..
Define scarcity and opportunity cost. How manager can apply these two concepts in management decision making?
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