Macroeconomics help!?
1- which are the two biggest national economies onearth? Why are they so much bigger than the others? 2- Give some reasons why gross domestic product is nota suitable measure of the well-being of the nation(Have you noticed newspaper accounts in whichjournalist seem to use GDP for the purpose?) 3- Explain why economic growth might be higher in acountry with well-established property rights and astable political system compared with a country whereproperty rights are uncertain and the government isunstable.
Need help with macroeconomics?
Don't quote me but: A: All resources on health care puts you at the very top left on that curve....So you are at y-coordinate of 15 which represents 15 units of health care and an x-coordinate of 0 for 0 units of education. B: All resources on education puts you at (X,Y) coordinates of (24, 0) so you produce 24 units of education and 0 units of health care. C: Look at 11 units health care (y-value of 11) and 16 units education (x-value 16). There happens to be a nice straight line from each axis. The opportunity cost (what is lost) by switching to 5 more units of education (meaning you go from 16 to 21 units education is that you drop down to 7 units of health care. Since you were at 11 and dropped to 7 health the opportunity cost is 4 units of health care.
Macroeconomics help, pleasee???
Money is the thing for which you can barter for any other thing; that is if a house has a price in tons of corn it will also have a price in money. The US had full-bodied money up till just after the second world war that is if by 'full-bodied' your question implies backed by valued commodity (eg. silver or gold). Commodity money is literally money stamped out of either silver or gold; historically it was usually silver although the Romans used copper. Fiat money is what the US has now. The government says that you can pay your debts to the government in the paper currency it provides via the printing press and via Fed Reserve open market operations and so that money has value.
Why do people study macroeconomics?
Now, an important question which arises is why a separate study of the economic system as a whole or its large aggregates is necessary. Can’t we generalize about the behavior of the economic system as a whole or about the behavior of large aggregates such as aggregate consumption, aggregate saving, aggregate investment from the economic laws governing the behavior patterns of the individual units found by microeconomics. In other words, can’t we obtain the laws governing the macroeconomic variables such as total national product, total employment and total income, general price level etc. by simply adding up, multiplying or averaging the results obtained from the behavior of the individual firms and industries.There are at least 5 good reasons to study economics. First, without some knowledge of economics, it is impossible to understand the world in which we live in (and the global economic crisis since 2008). Every day, for example, the media report about economic issues such as unemployment, inflation (rising prices), economic growth, government spending and taxation, exchange rates, international trade and share / commodity price and exchange rate movements. Second, you will learn about how the economy works and how individuals and firms make decisions and what policies may be adopted by policymakers to help improve society, both nationally and internationally. Third, economics is a rigorous and rewarding academic subject which is well respected by Universities and employers alike. Fourth, studying economics will help you to consider and discover when politicians are not telling the economic truth. Fifth, a qualification in economics is an excellent basis for a career in different areas. Other subjects fit in well with Economics, including Mathematics, Politics, Geography, History, and Science. It is recommended that those considering Economics as a possible Degree course should also study AS / A level Mathematics as well. For those considering Economics as a Joint Honours Degree, however, this requirement is not necessary. For more information Click HERE.
Help with Macroeconomics Homework...?
I'm home schooled and am having trouble figuring a couple of questions out regarding Aggregate Supply and Demand. If you could help me answer them, and explain the graphs to me, I would really appreciate it. 1) A new law requiring all businesses to provide health care for their employees is signed by the President. Show and explain the impact of this law on output and price level. 2) Congress passes a sweeping health care reform bill that provides free medical insurance for all Americans. Once the President signs it into law, the government will provide every American with a policy that will pay up to 80% of every medical bill a patient incurs. Show and explain the impact of this law on output and price level. 3) Assume that over the next ten years, the level of educational attainment in the US increases significantly. Show and explain the impact of this change on output and price level in the economy. 4) In an effort to provide tax relief for households while still balancing the budget, Congress votes to raise business taxes and decrease personal taxes. Show and explain the impact of these tax decreases on output and price level. Thanks
Could someone please help me with Macroeconomics?
1. Dave's Mirror Company expects to sell $1,000,000 worth of mirrors and to produce $1,250,000 worth of mirrors in the coming year. The company purchases $300,000 worth of new equipment during the year. Sales for the year turn out to be $900,000. Actual investment by Dave's Mirror Company equals ______ and planned investment equals _______. 2. If planned aggregate expenditure (PAE) in an economy equals 1,000 + 0.9Y and potential output (Y*) equals 9,000, then this economy has: 1) an expansionary gap. 2) a recessionary gap. 3) no output gap. 4) no autonomous expenditure. 3. In the short-run Keynesian model where the marginal propensity to consume is 0.5, to offset a recessionary gap resulting from a $1 billion decrease in autonomous consumption, government purchases must be: 1) increased by $1 billion. 2) decreased by $1 billion. 3) increased by $0.5 billion. 4) increased by $2 billion. 4. In the short-run Keynesian model where the marginal propensity to consume is 0.75, to offset a recessionary gap resulting from a $1 billion decrease in autonomous consumption, taxes must be: 1) increased by $1 billion. 2) decreased by $1 billion. 3) increased by $1.33 billion. 4) decreased by $1.33 billion. 5. In the short-run Keynesian model, if the mpc equals 0.8, then to increase planned aggregate spending by $20 billion at any output level, government spending must be increased by ______ or net taxes must be decreased by _____. Question 20 options: 1) $20 billion; $20 billion 2) more than $20 billion; more than $20 billion 3) less than $20 billion; less than $20 billion 4) $20 billion; more than $20 billion If you could explain how you got the answers, too, that'd be incredible. Obviously, I can't figure out the Keynesian model at all, but I'm going to need to know what I'm doing for the quiz next week.
Macroeconomics Issues and Policy?
It's all about lag time. It takes time for a problem to be observed from when it actually occured. Then central bankers have to discuss what, if anything, to do about it. If the problem has already started to self-correct then the central bank's actions could end up inflating a bubble or deepening a recession.
Macroeconomics help consumption savings schedule?
explain how each of the following will affect the consumption and saving shedules or the investment shedule, other things equal: a)a large increase in the value of real estate, including private houses. b) a decline in the real interest rate. c)a sharp, sustained decline in stock prices. d) an increase in the rate of population growth. e)the development of a cheaper method of manufactoring computer chips. f)a sizable increase in the retirement age for collectiing social security benefit. g)the expectation that mild inflation will persist in the next decade. h)an increase in the federal personal income tax.
How would you describe macroeconomics to a five-year-old?
Well, Jimmy, you live in Highland Park, which is part of Chicago, which is part of Illinois, which is part of a country called the United States, it’s really big with a lot of people in it.At home, your mom and or dad have a job to make money. And that money gets spent on the people that live in the home, and other things for those people.Your mom and dad need to pay attention to how much money they make, versus how much they spend, and that there’s enough money to send you to school, and that there’s a car to take you places, and a home to live in so you can be safe. Sometimes they borrow some money from uncle Jim, sometimes they loan some money to Aunt Stacy… and sometimes they set monetary policy and adjust interest rates for how much Aunt Stacy will owe you… but I digress, you’re 5.Macroeconomics is basically a study of all the things that go on at your home, but for an entire country, like the United States, it’s really big, with a lot of people in it.