Demonstrate the effects of your proposed policy

Assignment Help Business Economics
Reference no: EM13686484

Part -1:

Question 1:. Based on the article what market form did the market for graduation regalia (a gown, hood and mortar board) at ANU most closely resemble before Mr. Liu started his UniGowns business? Why? Represent this using an economic diagram and the relevant price from the article.

Question 2: Once the students started their rival business (UniGowns) what form did the market for a graduation set at ANU take? Explain your answer with reference to theory. How does the price and quantity in this market compare to the price and quantity before the students started this business?

Question 3: If as described in the article the only suppliers of gowns at ANU was the UC Union and UniGowns, would it be in both their interests to have a price war and compete with each other or to keep prices high? How does this relate the Nash equilibrium in game theory?

Question 4: Describe a business that you and your friends can start this year. What market form (i.e. monopolistic competition) is the market you want to operate in? How will this market form affect your profits? Draw a diagram to represent the market your business will be operating in and your individual cost curves. You will need to do some research here.

Question 5: What was the reason Mr. Liu have for starting the business in the article? Conduct some research into economic theory about the incentives which drive individuals and businesses. Do you believe his reason for starting the business? Why or why not?

Part -2:

Question 1. Explain how "discretionary fiscal policy" can be "countercyclical" and can be used to support aggregate demand. Us an AD/AS model to support your answer.

Question 2. Use an aggregate demand and supply model to demonstrate where the Australian economy is currently operating in relation to full employment and explain the reasons for this. Based on your diagram, the above sources and your own research what phase of the business cycle do you think the Australian economy is currently in? Explain your reasoning.

Question 3. Based on your research evaluate the fiscal policy the government is currently pursuing. Do you believe this is appropriate given the state of the economy at the moment? Why or why not? Use an AD/AS diagram in your discussion.

Question 4. Based on your research evaluate the monetary policy is the RBA is currently pursuing? Do you believe this is appropriate given the state of the economy at the moment? Why or why not? Use an AD/AS diagram in your discussion.

Question 5. What effect do you think the lower dollar could have on inflation in Australia? Why? If in 2015 inflation rose to 4% and unemployment rose to 7% what fiscal policy would you advise the government to pursue? Why? Demonstrate the effects of your proposed policy using an AD/AS model.

Reference no: EM13686484

Questions Cloud

State the formula of the conjugate base for acid hpo42 : State the formula of the conjugate base for acid HPO42. State the name of the conjugate base found in part (c). Give as a string. For instance, enter sulfate ion for SO42
Compute oxide spontaneously absorbs water vapor : Compute oxide spontaneously absorbs water vapor from the atmosphere at 20 degrees Celsius via the following reaction CaO(s) + H2O(g) arrow Ca(OH)2(s)
Rank the increasing vapor pressure : Rank the subsequent of increasing Vapor pressure at 25 degrees Celsius Argon,Hg,CH3OCH3, CH3CH2OH, C Which of the subsequent reactions have the largest delta s value NH3(g)+HCl(g) arrow NH4Cl(s) 2H2+O2(g) arrow 2H2O(g) C graphite arrows C diamond
Explain what is the initial ph of this buffer : 500ml Buffer solution is 0.250 M in HNO2 as well as 0.200 M in KNO2. The Ka for HNO2 is 4.6x10-4. Explain what is the initial pH of this buffer
Demonstrate the effects of your proposed policy : what market form did the market for graduation regalia (a gown, hood and mortar board) at ANU most closely resemble before Mr. Liu started his UniGowns business?
Explain what is the ph of the resulting buffer : 500.0mL of 0.150 M NaOH is added to 575mL of 0.200 M weak acid (Ka = 8.20 × 10-5). Explain what is the pH of the resulting buffer
Compute the molar concentration of argon : Compute the weight fraction of CO2 in cloud water under these conditions in ppm. Compute the molar concentration of Argon in H2O is in equilibrium with air at 1 atm.
Explain what carboxylic acid is produced from the acid : Explain what Carboxylic acid is produced from the acid hydrolysis of butyl acetate butyl ethanoate? Draw it out.
Depict the organic product resulting from by means : Imagine that a chemist has triphenylphosphine, cyclohexanone and 2-bromobutane. Depict the organic product resulting from by means of these chemicals in the Wittig reaction.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd