Reference no: EM131114826
Circular Flow Model, GDP, and Inflation Report
Imagine the chief executive officer (CEO) of General Motors is concerned that members of the GM's strategic planning committee are unfamiliar with basic economic principles. The CEO has assigned you the task of developing an 800- to 1,000-word report to review those basic principles.
Your report should include an introduction and a conclusion. The message, Thesis Statements, Introductions, and Conclusions, which is posted as a Class Message, provides information on writing thesis statements, introductions, and conclusions.
Use the bolded words/phrases shown below as first-level headings for your paper. Your paper should discuss the:
• Roles of Economists. Explain the role of an economist as a scientist as well as a policymaker.
• Circular Flow Model. Explain the interconnections displayed in the circular flow model with specific real-world examples of: (1) households, (2) firms, (3) product (goods/services) market, and (4) factor markets. Be sure you explain the flow of money and goods in an economy.
• Allocation of Resources. Explain how an economy's scarce resources are allocated by: (1) the forces of supply and demand, (2) prices, and (3) government policies.
• Gross Domestic Product. Define the term gross domestic product (GDP) and provide a specific real-world example of each of the four major components of GDP.
• Consumer Price Index. Explain how the consumer price index (CPI) is constructed. The course text lists three problems inherent in the measuring changes in the cost of living - from your experience as a consumer, provide a specific real-world example of one of those three problems.
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Macroeconomic problems that economists are working day
: What are some of the macroeconomic problems that economists are working day and night to address?
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Explain the corresponding approximate changes
: The armature terminal voltage is halved, with the field current and load torque remaining the same. (c) The field current and the armature terminal voltage are halved, with the horsepower output remaining the same.
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Role of agriculture in economic development
: Suppose that a government that is the sole buyer of a crop offers farmers $2.00 per ton of maize (corn), while the market price across the border is $2.50 per ton. What will be the impact on the production of maize? Will it aff..
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Find the rotor-induced emf at standstill and at 0.05 slip
: Neglecting stator resistance, leakage reactance, and all losses, if the stator-to-rotor turns ratio is 2:1 and the applied voltage is 100 V, find the rotor-induced emf at standstill and at 0.05 slip.
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Define the term gross domestic product
: Gross Domestic Product. Define the term gross domestic product (GDP) and provide a specific real-world example of each of the four major components of GDP.
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How can core competencies be leveraged more effectively
: How can core competencies be leveraged more effectively?
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When technology is progressing rapidly
: When technology is progressing rapidly, firms are more likely to:
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Cultural dimension did affect product diversity
: In this discussion you will consider the challenges of doing business globally compared to doing business solely in a host country. One has to consider cultural, environmental, and political differences that could affect how a product is perceived, m..
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Determine the real rate of return for each bond
: Determine the real (inflation-free) rate of return for each bond. Without knowing your MARR, can you make a choice between these two bonds?
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