Members of the strategic planning committee

Assignment Help Business Economics
Reference no: EM131414277

Original Material please!

The purpose of this is assignment is for students to review the basic principles of economics and the concepts of the circular flow model, showing the connectivity of society's economic players and the flow of goods and money within an economy. Students will learn how society allocates its scarce resources and how economists are both scientists and policymakers. Students will define GDP and CPI and how they are calculated. 

Assignment Steps

ResourcesNational Bureau of Economic ResearchPrinciples of Macroeconomics: Ch. 1, 2, 3, 4, 5, 6, and 7

Scenario: 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 a report to introduce some of these thoughts and principles.

Develop a 1,050-word report to the members of the strategic planning committee explaining the following information:

  • 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.

Reference no: EM131414277

Questions Cloud

What was the bond’s conversion premium on that date : what was the bond's conversion premium on that date? (Assume no change in the exchange rate from that given in the vignette.)
Create a pricing policy for the selected client and scenario : Create a pricing policy for the selected client and scenario. Analyze the best price setting process used to establish sustainable and profitable prices for the client.
Market forces of supply and demand : Explain how the economy coordinates interdependent economic actors through the market forces of supply and demand?
What percentage of the total votes do the wrigleys control : The Wrigley family owns directly or through trusts about 22.1 million shares of common stock and about 12.9 million shares of class B stock. What percentage of the total votes do the Wrigleys control?
Members of the strategic planning committee : Scenario: 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 a report to introduce some of these thou..
What is the flat price full price and accrued interest : What is the flat price, full price, and accrued interest of the bond on June 9, 2001?
Define the problem in the scenario that you have chosen : Define the problem in the scenario that you have chosen. Analyze the problem in the scenario. Generate options for solving the problem in the scenario. Evaluate the options for solving the problem.
Determine the effect on aggregate supply : For each of the following scenarios, determine the effect on aggregate supply. 1) There is an unexpected decrease in oil prices. a)This will cause an increase in aggregate supply, shifting the aggregate supply curve to the right.
Explain identification what hr services would be retained : A brief outline and justification of your view of HR service delivery. Identification and justification of what HR services would be retained and what HR services would be outsourced.

Reviews

Write a Review

Business Economics Questions & Answers

  What happens to total revenue

What happens to total revenue if the price of sugar rises from $3 to $7 per kilogram.

  Consumption in order to increase her total utility

Tom consumes positive quantities of both jam and juice. the price of jam is 5 cents per unit and the price of juice is 10 cents per unit. Her marginal utility of jam is 10 and her marginal utility of juice is 55. Without changing her total expenditur..

  Assuming cost conditions in the industry remain constant

Suppose that initially the price is $20 in a perfectly competitive market. Firms are making zero economic profits. Then the market demand shrinks permanently, some firms leave the industry, and the industry returns to a long-run equilibrium. What wil..

  What do you think about this feature of market system

“Who will get the output” is that the people who are willing and able to pay the existing market price get the output. If you cannot pay for the product or service, you do not get to have the product or service. This is true for all products and serv..

  Drawback of nationalized health care or? single-payer system

Which of the following is not a potential drawback of nationalized health care or? single-payer systems relative to privately delivered and financed health? care?

  Cartel agreements tend to break down

Cartel agreements tend to break down: Dominant price leadership tends to break down:

  Strategies survive rationalizability

Each of the players chooses an (integer) amount between $180 and $300. Both players receive the lower amount. Five dollars are transferred from the player who chose the larger amount to the player who chose the smaller one. Which strategies survive r..

  Demographic trend that has caused dramatic increases

Currently in the US there is a demographic trend that has caused dramatic increases in the number of students attending universities¾the children of Baby Boomers have grown up and are ready for college. Campus housing is a fixed good (in the short ru..

  An industry consists of three firms

An industry consists of three firms. All three have identical variable costs VC(q) = 5q + q2, but whereas Firms 2 and 3 have fixed costs of $2,000, Firm 1’s fixed costs are $3,000. Market demand is Q = 335 – p and the firms play Cournot. What is the ..

  What is the level of private investment in this economy

In a country, private savings equals 600, the government budget surplus equals 200, and the trade surplus equals 100. What is the level of private investment in this economy?

  Qanthony figueroa is a cpa who works for an accounting

q.anthony figueroa is a cpa who works for an accounting consulting firm. his annual salary income is 70000. anthony is

  What is actuarially fair premium for each type of policy

Chimnesia has two equally sized groups of people: smokers and nonsmokers. Both types of people have utility U = √C where C is the amount of consumption that people have in any period. So long as they are healthy, individuals will consume their entire..

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