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A politician running for office has just made a public statement that the state of the U.S. economy has been deteriorating during the last decade. You are a journalist fact-checker and analyst for a political and economic website called “Macroeconomy Explained”. Your job is to write a short article evaluating the validity of the politician's statement by
1, focusing on the main economic indicators, namely the GDP, the inflation rate and the unemployment rate.
2, using the economic models and theories of the macroeconomy to offer an insightful economic analysis of the US economy in the last decade.
Question
Was the politician's statement correct? Explain. ( at least 300 words required)
Provide one example of a negative externality and draw a graph depicting the socially optimal quantity and the market quantity. Explain why this is a market failure. Explain the similarities between a negative externality and a common resource. Provi..
President John F. Kennedy proposed a tax cut in the early 1960s. He said, "It is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise tax revenues in the long run is to cut tax rates now." ..
Some defenders of the current level of inequality claim that although it’s not inevitable, doing anything about it would be just too costly. They believe that for capitalism to work its wonders, high inequality is an inevitable, even necessary featur..
An ice cream company has hired two sales persons to run two ice cream stores on a beach. These two employees will receive a fixed salary regardless of the number of ice creams that they sell and they have to charge the same price set by the company. ..
In this discussion, you will explain the role of the business cycle in government and private sector decisions. Data on GDP and economic growth are considered lagging indicators because they report information on what is already known. Should wages a..
A firm faces two consumers with the following demand functions: p1(q1) = 400 − q1. p2(q2) = 300 − q2. The firm’s constant marginal cost of production is, c = 50. The firm may charge an access fee and per unit price (that the consumers can choose not ..
You pay $500,000 for a house and the land that it is on. The land is valued at $195,000 and the house is valued at $305,000. You decide to demolish the house ($20,000 demolition cost) and build a go-cart track at a cost of $750,000. What is the cost ..
What is the difference between a "change in supply" and a "change in quantity supplied?" For each of the following changes, determine whether there will be a change in quantity supplied or a change in supply.
Find the effective interest rate per quarter at a nominal rate of 8% compounded (a) quarterly, (b) monthly, (c) weekly, (d) daily, and (e) continuously?
There are about 34,000 full service restaurants in Miami-Dade County, Florida with a population of about 2.5 million. What type of market structure is the restaurant business in Miami-Dade County? Are there submarkets with distinct characteristics? E..
The interest earned is deposited back into the savings account at the end of each month. How much is this account worth after 38 years?
When the Fed purchases government securities ________ loans end up being made because ________.
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