Comparing the size of economies to the gdp of the us

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1. What specific standard is applied to a company whose only contact with a forum state is through its Internet site? If you had an eBusiness, what could you do in order to limit your liability to suit in multiple jurisdictions? How could it be set up? In your opinion, would your plan be ethical? Why or why not?

2. Name one economic decision that must be made by each of the four sectors of the economy (households, businesses, government, and the foreign sector). Be sure to state what a possible opportunity cost might be for each of these economic decisions. Recall that the opportunity cost is the highest valued thing that is sacrificed when a choice is made.

3. Give an example of something that would cause a change in the demand for a product and an example of something that would cause a change in the quantity demanded of that product. Be sure to state how each would be shown on a demand curve graph.

4. Research the GDP of at least two countries other than the US and compare the size of those economies to the GDP of the US. Online encyclopedias are a good source for this type of information.

5. Describe a real world example of something that has shifted (or could potentially shift) either the AD curve or the SRAS curve for the US or some other country.

6. Give a real-world example of how the spending multiplier works.

7. Discuss what President Bush has done during his administration to try to stimulate the economy, or what Congress has done in recent months to try to improve the economy.

8. What is the Federal Reserve currently doing to promote the health of the economy? Do some research on the current actions of the Fed and share them with the class. If you prefer, you can pick some past actions of the Fed and explain how those actions were used to help improve the economy of that time period.

Reference no: EM1374466

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