Reference no: EM131110225
Economics
ANSWER THE FOLLOWING QUESTIONS IN AT LEAST 100 WORDS PER QUESTION, USE TEXT AS A REFERENCE NO OUTSIDE SOURCES ARE NEEDED. THE REFERENCE TO THE TEXT
IS: Sexton, R. L. (2013). Exploring Economics (6th ed.). South-Western Cengage Learning.
1. Compare and contrast the three types of unemployment, (frictional, structural, and cyclical). If you were a policy maker which type of unemployment would be most bothersome to you?
2. What costs are associated with inflation? Explain at least 3 different costs that individuals or businesses experience when inflation rises.
3. Explain why transfer payments are not included in GDP.
4. Using the components of GDP covered in section 22.1 of your text, explain which component would be affected by the following (only one component should be chosen for each scenario):
a. You buy an Italian purse.
b. You buy a new house.
c. New lanes are added to Interstate 40.
d. You buy groceries.
e. You buy a new washer and dryer.
5. Suppose the economy is at a macroeconomic equilibrium as is shown in section 25.6 of the text. The government decides to give every taxpayer a $500 tax refund.
a. What happens to the aggregate demand curve after the refund?
b. What happens to the price level after this change?
c. Is real wealth increased or decreased as a result of the refund?
6. Review Section 22.7 in your text. Compare and contrast the results of the Classical Model and the Keynesian model after an expansionary policy. Keep in mind that the economy is in a recession and not at full employment. Address the following:
a. The shape of the aggregate supply curve in each model in both the long-run and short-run.
b. The effect of an expansionary policy on aggregate demand in both the long-run and short-run.
c. The effect of an expansionary policy on the price level in both the long-run and short-run.
|
Multitasking computer systems
: Why do so many people believe they can think about more than one thing at a time? What effect do fast, multitasking computer systems like Unix have on such beliefs? Is this healthy or unhealthy?
|
|
Created during the installation process
: Some Linux distributions are set up so that a root userid is not created during the installation process. In such cases, your regular password serves as the superuser password. Why would a distribution be set up in this way? What are the advantage..
|
|
The most expensive metal in the world
: The element lutetium is a very heavy, rare, silvery white metal. It is considered to be the most expensive metal in the world. The Maharaja of Gaipajama wants you to babysit with his son.
|
|
Creation of the integration layer
: Creation of the integration layer - E-R diagram of your integration layer and Insert the same records in the schema of local DB2
|
|
What happens to the price level after the change
: What happens to the aggregate demand curve after the refund? What happens to the price level after this change? Is real wealth increased or decreased as a result of the refund?
|
|
Prepare a schedule of cost of goods manufactured
: Prepare a Schedule of Cost of Goods Manufactured in good form for 2016 with the proper heading. Be sure to double rule where necessary.
|
|
Create a title sequence for an existing alice world
: The list of effects on the animations schemes or custom animations on the Slide Show menu in PowerPoint might give you some ideas for your title sequences in Alice.
|
|
Compute the second years depreciation expense
: Compute the second year's depreciation expense: 160,000 times 20% equals 32,000. Compute the first year's depreciation expense: 200,000 times 20% equals 40,000.
|
|
Playing a gui-based game on his linux laptop
: What is a run level? At this very moment, Fester Bester tester is sitting at the back of a lecture hall listening to a boring lecture on animal husbandry. To keep himself awake, Fester is playing a GUI-based game on his Linux laptop. What is the r..
|