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1. Explain, in your own words and with examples, the difference between microeconomics and macroeconomics.
2. Compare economic science with other disciplines, such as accounting, the market, and finance, and differentiate them.
3. Describe the uses of the economy and how it can explain everyday situations in the markets.
4. Analyze the following expression: Economics is a challenging but exciting and rewarding discipline.
If the price of the truck increases exactly in accordance with an estimated inflation rate of 6 % per year, how much the truck will cost in 2 years?
In the state of Florida ,data that is commonly used in health services systems. This includes census data, vital statistics data (birth, deaths, marriages, and divorces), surveillance data, administrative data, and survey research data. Which office ..
Summarize the corporate ethics statement, statement about social responsibility, and sustainability statement. If none exist, report what you believe are these unwritten statements or code of conduct based on what the Proctor & Gamble says about itse..
When Alan Greenspan (who would later become chairman of the Federal Reserve) ran an economic consulting firm in the 1960s, he primarily hired female economists. He once told the New York Times, " I always valued men and women equally, and I found tha..
Suppose Mary’s income is $100 per week, which she allocates between sandwiches and books. Sandwiches cost $2 each. Books cost $10 each if she purchases between 1 and 5 books. If she purchases more than 5 books in a week, the price falls to $5 for the..
A Japanese carmaker plans to expand its production in the United States. The company borrowed $170 million for this expansion at an interest rate of 8% per year. The loan will be repaid in equal payments at the end of each year over a 15-year period...
Suppose that it is proposed to create a single local jurisdiction and government for your entire metropolitan area or region, to be called Metroland. It would replace all cities and/or towns that currently provide basic local services (such as public..
According to the classical model, to ensure that the economy reaches its potential output level, the government
Consider a market characterized by the following inverse demand and supply functions: PX = 40 - 4QX and PX = 10 + 2QX. Compute the surplus received by consumers and producers. Other things held constant, the higher the price of a good. Suppose both s..
The risk premium it charges on its loans is classified as profits in economics.
The purchase of a car requires a $ 24,587 loan to be repaid in monthly installments for four years at 12% annual real interest rate. If annual inflation rate is 4 %, find the exra amount to be paid in 20th month due to inflation.
increases the equilibrium GDP also the size of that increase varies directly with the size of the MPC
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