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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 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?
Cheryl and Gunther wish to place into a retirement fund an equal amount each year for 20 consecutive years to accumulate just enough to withdraw $24,000 per year starting exactly one year after the last deposit is made. The fund has a reliable ret..
Which are some of the assumptions about an indifference map, and what reasoning lies behind them?
You will be drafting a power of attorney giving this person the right to act as your "agent" on your behalf for all matters involving the listing, sale and closing of your house. Make a list of the provisions and considerations you want to be cert..
This week we also discussed pricediscrimination. Can you give an example of a product in which you observedprice discrimination? If yes, what typeis it? Explain.
how do education and heathcare impact the economy externally? make sure that you show the relationships between
Suppose in an overlapping generations model, two goods are produced. The young can produce both goods while the old can produce none. a) Assuming that both goods depreciate completely at the end of each period and there is no money in the econ..
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Explain the shape of this curve using the expectations hypothesis, the segmented markets hypothesis, and the preferred habitat hypothesis.
What single sum of money at t = 4 is equivalent to receiving $5,000 at t = 1, $5,800 at t = 2, $7,300 at t = 3, and $8,200 at t = 4 if money is compounded at a rate of 11.5% per time period?
explain the relationship among household disposable income consumption and savings. what is marginal propensity to
Determine the price elasticity, and income elasticity of demand and where Q denotes passengers in thousands per year, P the (average) ticket price, and I US national income.
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