Outline brieflya how people make, Ask an Expert

Economics

Outline briefly

a. How people make decisions?

b. How they interact?

c. How economy as a whole works?

1. Give three examples of important trade offs, that you face in your daily life.

2. What is the role of incentives in your life? Give two examples.

3. How inflation and unemployment are related in short run?

4. What is the opportunity cost of seeing a movie?

5. Draw a circular flow diagram and show how households and firms interact with each other.

6. Draw a production possibility frontier for an economy that produces corn and rice. What happens to this frontier if a new fertilizer is developed that doubles the amount of corn that can be produced on each acre of land?

7. Find out the opportunity cost of corn in terms of rice in both cases.

8. Classify the following topics as relating to microeconomics or macroeconomics.

a. Your decision about how many hours to study.

b. The effect of government spending on the national unemployment rate.

c. A workers choice among a set of two jobs.

d. The relationship between education and economic growth.

e. The optimal choice of output for a firm producing electric heaters.

View complete question

Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9530359

Have any Question?Write your Review or question?

Related Questions in Macroeconomics

Question assume two countries a and b with sizes of

Question: Assume two countries, A and B, with sizes of domestic markets 300 million and 533 1 3 million units in annual sales, respectively. In this market, firms compete by differentiating their product, while the cost ...

Question - the fuel filter section of u-beaut tractors pty

Question - The fuel filter section of U-Beaut Tractors Pty currently manufactures two range of filters for its farm equipment production. The standard line of filters is produced in annual quantities of 20,000 units, whe ...

Question assume a nissan dealer in the us bought 30 maximas

Question: Assume a Nissan dealer in the U.S. bought 30 Maximas directly from Japan at a cost of $20,000 per car in the fall of 2002. By December 31, 2002, the dealer had sold 10 of these cars for $27,000 each. The remain ...

Question - a a firm producing two products x and y where x

Question - a. A firm producing two products X and Y where x and y are the quantity of product X and Y produced respectively. If the firm produces on the same isocost and has a fixed cost of $1000. Given the marginal cost ...

Question - a small island nation is endowed with

Question - A small island nation is endowed with indestructible coconut trees. These trees live forever and no new trees can be planted. Every year $1 million worth of coconuts fall off the trees and can be eaten locally ...

Question janes juice bar has the following cost schedules

Question: Jane's juice bar has the following cost schedules: quantity variable cost total cost 0 vats of juice 0 30 1 10 40 2 25 55 3 45 75 4 70 100 5 100 130 6 135 165 a. calculate average variable cost, average toal co ...

1explain four types of unemployment2explain the advantages

1. Explain four types of unemployment 2. Explain the advantages and disadvantages of:(a) A flexible exchange rate regime (b) A fixed exchange rate regime 3. Suppose the Reserve Bank of Australia increases the interest ra ...

Question to study a macroeconomy we calculate aggregate

Question: To study a macroeconomy we calculate aggregate quantities in real terms because? 1) it is then easier to take logarithms 2)it is the only way to reconcile the three approaches to measuring GDP 3) we want to get ...

Question this problem demonstrates how multiple regression

Question: This problem demonstrates how multiple regression models can be used to measure discrimination in labor markets. The data, taken from the 1991 Current Population Survey, contain information on wages, education, ...

Introductory macroeconomics assignment -questions1 suppose

Introductory Macroeconomics Assignment - Questions 1. Suppose that the election of a popular candidate suddenly increases people's confidence in the future. Use the model of aggregate demand and aggregate supply to analy ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Macroeconomics Expert