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Journal entry questions are related to the application of the key concepts you learn to the real-world economic issues. The questions contain key economic principles and ideas related to the Macroeconomics topics you are learning. Please feel free to express your perspectives and state how the economic principles and ideas affect your economic decision making process. You should note that there is a limit to the number of words for the Journal entry. You can only enter the maximum 400 words.
Journal
Illustrate what is your forecast of the future value of the domestic currency. Explain.
Suppose the demand for a product is given by P = 30 – 3Q. Also, the supply is given by P = 10 + Q.
Suppose that technophiles are willing to pay $400 now for the latest iPhone, but only $300 if they have to wait a year. Normal people are willing to pay $250, and their desire to purchase does not vary with time. Ignore the time value of money a..
Suppose a consumer buys 10 units of good X and 20 units of good Y every year. The following table lists the prices of goods X and Y in the years 2005-2007. Assume that these two goods constitute the typical market basket. Calculate the price indices ..
Illustrate what is the effect of an import quota on the supply and price of domestic sugar. How many units of sugar will domestic produces supply after the quota is imposed.
Discuss the cyclical behaviour of the budget deficit in South Africa and provide an explanation for this behaviour. (half a page with references)
Illustrate what are the dominant industries and or corporations, and who controls them. What is the trade relationship between your country and the United States.
The data contained in the following table shows the tradeoffs that occur in an economy that produces only two types of products: pharmaceutical and computer-related technological products. Use the data given in the table to graph the production po..
Illustrate what technology is used to catch them. What's wrong with America's economy, and is America's economic problem short term or long term.
In a situation in which a gift certificate leads a consumer to purchase a greater quantity of an inferior good than he or she would consume if given a cash gift of equal value. Is this always the case? Explain.
As an employee of the World Bank, you have been asked to research 1 economic concern in a South American country and write a report on your findings.
Airline travels (good X) and driving interstates (good Y) are known to be substitute goods. suppose that a leading airline offers a steep discount on all routes. In the context of the market quantity supplied and quantity demanded diagram.
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