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Business Cycle
1. Define business cycle and explain the concepts of expansion and recession
2. Identify (plot out) using Gapminder World ( https://www.gapminder.org/world/ )the business cycle for the U.S. and any other country of your choice (in the same graph). [Take a screen shot of your graph for submission]
3. Show that you have a deeper understanding of your graph in 2. Is the U.S. better off or worse off in terms of GDP compared to the other country of your choice?
4. Enumerate 3 possible reasons why the depiction in answer 2 may not represent the relative wellbeing of people in the U.S. compared to the other country of your choice. [See limitations to using GDP as a measure of wellbeing]
5. Assess your response in 4 using 2 variables (any 2 variables you desire) from Gapminder World to support your answer in 4. Again show the graph for the U.S. and the other country of your choice [be creative].
6. Scrutinize how could the U.S. achieve higher economic growth?
q1. a budget deficit that is only temporary cannot be the source of inflation. is this statement true false or
The year is 2009 and you have just been elected President of the U.S. The economy is in crisis due to problems in the financial sector and housing markets. Unemployment is 9.5% and rising and the BEA reports GDP has decreased over the last two quarte..
Use the principles of supply and demand to address a predetermined goal (set by the student). Be clear on what the current market indicates and why and what your future goal is. We will probably revisit some of your choices in future modules.
You deposit $10000 into an account paying 8% interest compounded quarterly. You want to make withdrawals of $1300 each year for the next 15 years. If you were to make two equal deposits, one in year 5, the other in year 10, how much would they need t..
The use of artificial trade barriers, such as tariffs and import quotas,
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Assuming that prices are set competitively (i.e. set equal to MC of producing services), show in a supply-demand graph how we could measure the “efficiency loss” (or deadweight loss) associated with health care over-consumption.
Using your answers above, why does the growth rate of real GDP differ depending on the base year? Explain how the technique of Chain-Weighted Real GDP alleviates this problem.
Describe how the following statements relate to the AD–AS model:
q1. when the federal government decreases the individual and corporate income tax rates?q2. between sweezy oligopoly
A firm has three different production facilities, all of which produce the same product. While reviewing the firm’s cost data, Jasmin, a manager, discovers that one of the plants has a higher average cost than the other plants and suggests closing th..
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