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How macroeconomics is different from microeconomics

Assignment Help Macroeconomics
Reference no: EM132575211 , Length: 1300 Words

Macroeconomics Assignment -

Assignments aim to develop independent learning skills. They also increase in depth understanding of the course learning outcomes. Follow the steps:

You should solve eight assignments. Select as maximum tow problems from the end of each of following chapters. (Note: In the end of each chapter of the textbook, there are many problems. choose appropriate ones).

Textbook - Principles of Macroeconomics, TENTH EDITION by Karl E. Case, Ray C. Fair and Sharon M. Oster.

Chapter 5 - Introduction to Macroeconomics

Q6. Explain briefly how macroeconomics is different from microeconomics. How can macroeconomists use microeconomic theory to guide them in their work, and why might they want to do so?

Q8. Many of the expansionary periods during the twentieth century occurred during wars. Why do you think this is true?

Chapter 6 - Measuring National Output and National Income

Q5. Explain what double counting is and discuss why GDP is not equal to total sales.

Q11. Explain why imports are subtracted in the expenditure approach to calculating GDP.

Chapter 7 - Unemployment, Inflation, and Long-Run Growth

Q2. When an inefficient firm or a firm producing a product that people no longer want goes out of business, people are unemployed, but that is part of the normal process of economic growth and development. The unemployment is part of the natural rate and need not concern policy makers. Discuss that statement and its relevance to the economy today.

Q6. What do the CPI and the PPI measure? Why do we need both of these price indexes? (Think about what purpose you would use each one for.)

Chapter 8 - Aggregate Expenditure and Equilibrium Output

Q1. Aggregate consumption is assumed to be a function of aggregate income.

Q8. When households increase their planned saving, income decreases and saving does not change. Saving does not increase because in equilibrium, saving must equal planned investment and planned investment is fixed. If planned investment also increased, this paradox of thrift could be averted and a new equilibrium could be achieved at a higher level of saving and income. This result depends on the existence of a channel through which additional household saving finances additional investment.

Reference no: EM132575211

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