Thomas Edison State Eco111 (all discussion and assignments)

Question # 00082497 Posted By: neil2103 Updated on: 07/15/2015 03:46 PM Due on: 07/30/2015
Subject Mathematics Topic General Mathematics Tutorials:
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Discussion Forum 3


In Discussion Forum 3, post your response to the following discussion topic. Reply to at least two classmates' responses by the date indicated in the course Calendar.
Select a product that has recently undergone a price change. Discuss how this price change affects the economy in the short and long term, contrasting the economic effects between the two time frames. Determine whether the demand for this product is inelastic or elastic in the short and long term, and explain your reasoning.

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Written Assignment 1

Answer all of the following questions. This assignment covers text chapters 1 through 6.

What is the mechanism by which the "invisible hand" pushes markets to equilibrium?

Explain the two main causes of market failure and give an example of each.

Use a production possibilities frontier to describe efficiency. (This question can be answered either with or without the use of a graph, depending on whether you have a graphing program on your computer. It is possible to describe the various points on the PPF without a graph.)

What is the difference between a positive and a normative statement? Give an example of each.

Explain how absolute advantage differs from comparative advantage.

What are the factors that determine the quantity of a good that buyers demand?

Define the equilibrium of a market. Describe the forces that move a market toward its equilibrium.

List and explain the four determinants of price elasticity of demand, discussed in chapter 5.

If demand is ela

Discussion Forum 4

In Discussion Forum 4, post your response to the following discussion topic. Reply to at least two classmates' responses by the date indicated in the course Calendar.

List the two assumptions that underlie the conclusion that free markets are efficient. Explain how these assumptions either do or do not apply to an industry of your choosing.

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Discussion Forum 5

In Discussion Forum 5, post your response to the following discussion topic. Reply to at least two classmates' responses by the date indicated in the course Calendar.

What is the effect on the economic well-being of a nation when a tariff is imposed? Consult a newspaper and identify an industry where there currently is a tariff. What is the effect of this tariff on the U.S. economy?

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Discussion Forum 6

In Discussion Forum 6, post your response to the following discussion topic. Reply to at least two classmates' responses by the date indicated in the course Calendar.

Select a nation that has a low per capita income and discuss how the catch-up effect would work for that country. Consider the determinants of productivity and explain some of the things that would tend to prohibit or limit that country's ability to catch up with the richer nations.

Written Assignment 2

Answer all of the following questions. This assignment covers text chapters 7 through 12.

Name two types of market failure. Explain why each may cause market outcomes to be inefficient.

What happens to consumer and producer surplus when the sale of a good is taxed? How does the change in consumer and producer surplus compare to the tax revenue?

How do the elasticities of supply and demand affect the deadweight loss of a tax? Why does this effect occur?

What does the domestic price that prevails without international trade tell us about a nation’s comparative advantage?

What is the difference between the unilateral and multilateral approaches to achieving free trade? Give an example of each.

Why do economists use real GDP rather than nominal GDP to gauge economic well-being? Define the GDP deflator.

What is the CPI? Which do you think has a greater effect on the consumer price index: a 10 percent increase in the price of chicken, or a 10 percent increase in the price.

Discussion Forum 7

In Discussion Forum 7, post your response to the following discussion topic. Reply to at least two classmates' responses by the date indicated in the course Calendar.

Go to the Web site of the Bureau of Labor Statistics at http://www.bls.gov What is the current U.S. unemployment rate? Find the unemployment rate for the demographic group that best fits a description of you (for example, based on age, gender, race, and your geographic location). Is it higher or lower than the national average? Why do you think this is so?

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Discussion Forum 8

In Discussion Forum 8, post your response to the following discussion topic. Reply to at least two classmates' responses by the date indicated in the course Calendar.

Inflation distorts relative prices. What does this mean and how does it affect consumer spending and disposable income? How does this affect society in general? Give some examples of how inflation has affected your buying power.

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Written Assignment 3

Answer all of the following questions. This assignment covers text chapters 13 through 17.

What is the role of the financial system? Name and describe two markets that are part of the financial system in the U.S. economy. Name and describe two financial intermediaries.

What is the government budget deficit? How does it affect interest rates, investment, and economic growth?

What benefit do people get from the market for insurance? What two problems impede the insurance market from working perfectly?

Describe the efficient markets hypothesis and give a piece of evidence consistent with this hypothesis. What does this say about using past price histories to predict future prices?

What are the three categories into which the Bureau of Labor Statistics divides everyone? How does the BLS compute the labor force, the unemployment rate, and the labor force participation rate?

Why is frictional unemployment inevitable? How might the government reduce the amount of friction

Discussion Forum 9

In Discussion Forum 9, post your response to the following discussion topics. Reply to at least two classmates' responses by the date indicated in the course Calendar.

What is the importance of trade agreements, and how is international trade related to the standard of living of the United States (as opposed to that of a small industrial nation or to a developing nation)? What significance do trade agreements have to your company or a company with which you are familiar?

02:34

Discussion Forum 10

In Discussion Forum 10, post your response to the following discussion topic. Reply to at least two classmates' responses by the date indicated in the course Calendar.

Name and describe two examples of government policies that act as automatic stabilizers. Explain why each policy has this effect.

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02:35

Written Assignment 4

Answer all of the following questions. This assignment covers text chapters 18 through 23.

Explain the relationship among savings, investment, and net capital outflow.

Describe the economic logic behind the theory of purchasing-power parity (PPP). What factors might prevent PPP from holding true?

Describe supply and demand in the market for loanable funds and the market for foreign currency exchange. How are these markets linked?

What is capital flight? When a country experiences capital flight, what is the effect on the country's interest rate and exchange rate?

List and explain the three theories for why the short-run aggregate-supply curve is upward sloping.

What might shift the aggregate-demand curve to the left? Use the model of aggregate demand and aggregate supply to trace through the short-run and long-run effects of such a shift on output and the price level. Use the diagram in the following link to help explain your answer.

Question 6 Diagram

Suppose

02:36

Written Assignment 4

Answer all of the following questions. This assignment covers text chapters 18 through 23.

Explain the relationship among savings, investment, and net capital outflow.

Describe the economic logic behind the theory of purchasing-power parity (PPP). What factors might prevent PPP from holding true?

Describe supply and demand in the market for loanable funds and the market for foreign currency exchange. How are these markets linked?

What is capital flight? When a country experiences capital flight, what is the effect on the country's interest rate and exchange rate?

List and explain the three theories for why the short-run aggregate-supply curve is upward sloping.

What might shift the aggregate-demand curve to the left? Use the model of aggregate demand and aggregate supply to trace through the short-run and long-run effects of such a shift on output and the price level. Use the diagram in the following link to help explain your answer.

Question 6 Diagram

Suppose

02:39

Discussion Forum 11

In Discussion Forum 11, post your response to the following discussion topic. Reply to at least two classmates' responses by the date indicated in the course Calendar.

How would a downward change in the money supply affect you personally? How would it affect your career? What impact would rational expectations have on your decisions in this situation?

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Tutorials for this Question
  1. Tutorial # 00077183 Posted By: neil2103 Posted on: 07/15/2015 03:47 PM
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