Eco 372 Week 2 Team Assignment Contract

Fundamentals of Macroeconomics 2 Economics Economics can be used to explain human decisions in everyday life. Whether on a micro or macro level, different aspects of the economy affect how individuals make decisions and interact with others. This paper will explain some of the key terms in economics as well as discuss different types of activities that affect government, households, and businesses. Key Terms in Economics First, GDP refers to gross domestic product. It refers to the total values of goods and services produced within an economy in a certain period of time. In general, GDP is measured on a yearly basis. The main components of GDP will be consumption level, government spending, investments, as well as net exports minus imports. For most states, it is ideal to have a high GDP because it indicates a growing economy and a higher standard of living for the people. Next, GDP can either be real or nominal. Real GDP is inflation-adjusted GDP that reflects the value of goods and services in that particular year based on a base year. On the other hand, nominal GDP is non-inflation-adjusted GDP. This means that the value of goods and services is expressed in current prices (Mofatt). Unemployment rate refers to the percentage of individuals who are unemployed and searching for work in the current workforce. In all states, the government will try to reduce unemployment rate because unemployment can bring about other social problems such as poverty and homelessness. However, it is important to note that unemployment is never at 0% due to natural unemployment. In the United States, the current unemployment rate as of December 2012 is 7.8% (U.S. Bureau of Labor Statistics).

ECO/372 Week 5Principles of Macroeconomics

 

Major Debates over Macroeconomic Policy

Option #1: 1,297 words! A+ Work!

Option #2: 1,238 words! A+ Work!

This week requires the student to address six unresolved issues in macroeconomics, each of which is central to current political debates. Students are required to use information and tools that they have accumulated in their study of the text and evaluate both sides of those issues, determine which side they can support for each issue, and defent their positions.

Assignment Steps

Select two subjects from the following list of topics and write a 1,050- word analysis:
      • Active monetary and fiscal policy
      • Increased government spending to fight recessions
      • Reducing federal government's discretionary powers
      • Zero-inflation target
      • Balanced government budget
      • Tax incentives for saving
Evaluate both the advocates' position and the critics' position.
Determine which position you support and defend your position.
Cite a minimum of 3 peer-reviewed sources not including your textbook.
Format consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.

Final Examination

(3 Different Final Exams with Correct Answers Included)

Included 3 Different Final Exams for this class! 

NOTE: Questions may be in a different order, but they should all be included.
Complete the Final Examination. You are allowed one attempt to complete the examination, which is timed and must be completed in 3 hours. Results are auto graded and sent to your instructor.

 

Final Exam Set#1

1.  Suppose farmers can use their land to grow either wheat or corn. The law of supply predicts that an increase in the market price of wheat will cause:

2.  According to Keynes, market economies:

3.  If banks hold excess reserves whereas before they did not, the money multiplier:

4.  The law of demand states that quantity demanded of a good is inversely related to the price of that good. Therefore, as the price of a good goes:

5.  What would make foreigners want to buy more from the United States?

6.  Between 2007 and 2009, the U.S. unemployment rate rose from under 5 percent to over 8 percent. A Keynesian economist would most likely blame this increase in unemployment on:

7.  Macroeconomics is: 

8.  Which of the following is the path through which contractionary monetary policy works?

9.  Quotas and tariffs can:

10.  According to the Classical growth model, an economy that increases its saving will grow:

11.  If a country wants to prevent its exchange rates from falling, it could: 

12.  If income increases more rapidly than expected, then:

13.  Which of the following types of unemployment is considered to be the most controllable through demand-side macroeconomic policy?

14.  Using the expenditure approach, gross domestic product equals:

15.  Which of the following topics is best characterized as a macroeconomic issue?

16.  In which of the following situations is a budget surplus most likely to occur?

17.  How do investment in technology and investment in capital differ?

18.  Suppose that consumer spending is expected to decrease in the near future. If output is at potential output, which of the following policies is most appropriate according to the AS/AD model?

19.  Central banks are responsible for:

20.  The interest rate is the price paid for use of a:

21.  The largest expenditure component of GDP is:

22.  The government of Crossland wants to influence its exchange rate. It will do so by buying and selling:

23.  Globalization that allows governments to pursue expansionary policies can be dangerous because it can lead to:

24.  The depreciation of currency will:

25.  When interest rates rise, people are:

26. As a country develops economically, what changes usually take place in the goods it exports?

27.  News Story: Workers at a car-manufacturing plant in Flint, Michigan are laid off because the economy is weak and GM cars aren't selling well. GM isn't sure when the plant will reopen. What type of unemployment describes the workers' situation?

28.  If the reserve requirement is 20 percent, and banks keep no excess reserves, an increase in an initial inflow of $100 into the banking system will cause an increase in the money supply of:

29. According to Keynes, why might deflation create problems for an economy?

30. U.S. imports involve an:

 

Final Exam Set #2

1.  News Story: Workers at a car-manufacturing plant in Flint, Michigan are laid off because the economy is weak and GM cars aren't selling well. GM isn't sure when the plant will reopen. What type of unemployment describes the workers' situation?

2. Globalization that allows governments to pursue expansionary policies can be dangerous because it can lead to:

3. Macroeconomics is:

4. Which of the following types of unemployment is considered to be the most controllable through demand-side macroeconomic policy?

5. If banks hold excess reserves whereas before they did not, the money multiplier:

6. Using the expenditure approach, gross domestic product equals:

7. How do investment in technology and investment in capital differ?

8. The interest rate is the price paid for use of a:

9. If the reserve requirement is 20 percent, and banks keep no excess reserves, an increase in an initial inflow of $100 into the banking system will cause an increase in the money supply of:

10. Suppose farmers can use their land to grown either wheat or corn. The law of supply predicts that an increase in the market price of wheat will cause:

11. According to Keynes, why might deflation create problems for an economy?

12. When interest rates rise, people are:

13. According to the Classical growth model, an economy that increases its saving will grow:

14. Suppose that consumer spending is expected to decrease in the near future. If output is at potential output, which of the following policies is most appropriate according to the AS/AD model?

15. Which of the following topics is best characterized as a macroeconomic issue?

16. If income increases more rapidly than expected, then:

17. In which of the following situations is a budget surplus most likely to occur?

18. The largest expenditure component of GDP is:

19. Which of the following is the path through which contractionary monetary policy works?

20. As a country develops economically, what changes usually take place in the goods it exports?

21. What would make foreigners want to buy more from the United States?

22. The depreciation of currency will:

23. The government of Crossland wants to influence its exchange rate. It will do so by buying and selling:

24. If a country wants to prevent its exchange rates from falling, it could:

25. Central banks are responsible for:

26. Quotas and tariffs can:

27. Between 2007 and 2009, the U.S. unemployment rate rose from under 5 percent to over 8 percent. A Keynesian economist would most likely blame this increase in unemployment on:

28. U.S. imports involve an:

29. The law of demand states that quantity demanded of a good is inversely related to the price of that good. Therefore, as the price of a good goes:

30. According to Keynes, market economies:

 

Final Exam Set #3

1.  the market where business sell goods and services to households and the government is called

2.  Real gross domestic product is best defined as

3.  Underemployment includes

4.  The bureau of economic analysis is responsible for which of the following

5.  The federal reserve provides which of the following data

6.  Consider if the government instituted a 10% income tax surcharge. In terms of the AS/AD model this change should have

7.  The largest source of household income is in the U.S. is obtainedstock dividends

8.  If the depreciation of a country’s currency increases it aggregate expenditures by 20, the AD curve will

9.  Aggregate demand management policies are designed most directly to

10.  Suppose that consumer spending is expected to decrease in the near future. If output is at potential output, which of the following policies is most appropriate according to the AS/AD model

11.  According to Keynes, market economies

12.  The laissez-faire policy prescription to eliminate unemployment was to

13.  In the AS/AD model, an expansionary monetary policy has the greatest effect on the price level when it

14.  The Federal funds rate

15.  What tool of monetary policy will the Federal Reserve use to increase the federal funds rate from 1% to 1.25%?

16.  If the Federal Reserve increases the required reserves, financial institutions will likely lend out

17.  Suppose the money multiplier in the U.S. is 3. Suppose further that if the Federal Reserve changes the discount rate by 1 percentage point, banks change their reserves by 300. To increase the money supply by 2700 the Federal Reserve should

18. If the Federal Reserve reduced its reserve requirement from 6.5 percent to 5 percent. This policy would most likely

19. A country can have a trade deficit as long as it can

20. In the short run, a trade deficit allows more consumption, but in the long run, a trade deficit is a problem because

21. Considering an economy with a current trade deficit and considering only the direct effect on income, an expansionary monetary policy tends to

22. The balance of trade measures the

23. When a country runs a trade deficit, it does so by:

24. Expansionary fiscal policy tends to

25. In considering the net effect of expansionary fiscal policy on the trade deficit, the

26. If U.S. interest rates fall relative to Japanese interest rates and Japanese inflation falls relative to U.S. inflation, then the

27. Expansionary monetary policy tends to

28. The U.S. has limits on Chinese textile imports. Such limits are an example of

29. Duties imposed by the U.S. government on imported Chinese frozen and canned shrimp are an example of

 

 

0 Thoughts to “Eco 372 Week 2 Team Assignment Contract

Leave a comment

L'indirizzo email non verrà pubblicato. I campi obbligatori sono contrassegnati *