Public Finance: Expenditures and Taxes Assignment
The circular flow diagram below includes business, household, and government sectors. Also shown
are the product and resource markets. Supply a label or an explanation for each of the twelve flows
Income effect-The change in the quantity demanded of a good that results from the effect of a change in
price on consumer purchasing power, holding all other factors constant
Substitution effect-The change in the quantity demanded of a good that results f
The University of Southern Mississippi
Principles of Macroeconomics, Fall 2016
Homework #1, Due date: 09/20/2016 in class
1) The following are the assumed supply and demand schedules for hamburgers in Collegetown:
Full Professor of Economics
Ph.D. in Economic, U. of Tennessee - Knoxville
Other major assumptions:
Consumers attempt to maximize happiness or satisfaction.
Firms attempt to maximize profits or minimize costs.
A lower tax rat
How are the labor force components (i.e., civilian noninstitutional population, civilian labor
force, employed, unemployed, and unemployment rate) defined?
Answer: The official concepts and definitions of the labor force components used in the Current
C21P, 22, 23: 7-9-2015
Given Y=80, TR=5, C=20, T=30, G=45.
Spr= Y+TR-C-T = _35_
Spu=T-G-TR = _-20_
Total S (saving) = _15_
_Crowding-out_ means that huge government deficit spending will increase the
interest rate and hurt private investment spending.
Inventory adjustment model:
Business firms keep certain desired (planned) level of inventories.
A firm will reduce orders if the actual inventory level is greater than the desired inventory level.
A firm will increase orders if the actual inventory
We assume that people are _rational_.
We assume that people maximize _happiness or satisfaction_.
We assume that firms _maximize profits_ or _minimize costs_.
When an economist is trying to express his/her opinion on how the financial market should be fix
FV = PV x(1+r)t
FV = future value
PV = present value (initial value)
Given: an initial deposit of $2,000 at the 3% interest rate for 8 years.
Future value = present value x (1+r)t = $2,000 x (1+0.03)8 = 2,533.54
The compound interest rate (r) is the s
ELASTICITY CONCEPTS &
Midpoint Formula = Percentage Change in Quantity Demand Percentage
Change in Price
You have a total income of $5.00 to spe
1. Behavioral economics-The study of situations in which people make choices that do not appear
to be economically rational.
2. Price elasticity of demand-The responsiveness of the quantity demanded to a change in price,
measured by dividing the percentag
Consumer Producer and Surplus Assignment
Part 1: Complete the following tables:
At the beginning of the school year, used couches are in high demand among State University freshman living on the
sixth floor of Beta Dormitory. Fortunately for the freshman,
June 14, 2016
6744 Coda Rd.
Moss Point, Mississippi 39562
Mr. John Woodard
Regional Sales Director
Sales and Marketing Department
Alacare Home Health & Hospice
2543 Airport Blvd.
Mobile, Alabama 37686
Dear Mr. Woodard,
I am applying for the Sales-Care Tra
MGT 325 Notes- 5/31/16
Operations management- is the management of the processes or systems that is used to create
goods and/or services
o Value-adding: Land, labor, capital, information (Inputs); Transformation/conversion
process; Goods and Services (Out
Market failure- market fails to produce the right amount of the product
o Resources may be:
Consumer surplus- difference between actual price and what the consumer actually pays
o Extra benefits from paying less
My name is Mika Poppenhouse and I am a senior Healthcare Marketing major. I am from
Moss Point, Mississippi. When I started college in 2013, I went to Mississippi Gulf Coast
Community College on a cheer scholarship and was a Pre-Dental/Biochemistry major.
Case Study 1: Bernard Madoff
Trust and Greed were very much a factor in Bernard Madoffs years of fraud. Madoffs
clientele were very wealthy individuals who trusted Madoff Securitys with their money. He
built this wealthy clientele by accepting only select
Economic warfare is very popular in the U.S. Each time the U.S. has a problem with a
country, they bring out the military and try to fight the problem. Chinas economy is number #2
in the world. Instead of pulling the trigger, China decides to build a stro
Supply and Demand Questions
Enter your answers to these questions in the appropriate area. Be sure to answer all questions posed completely.
Once you are done, save your file and upload it back to the Canvas Assignment link.
1. The demand schedules of thr
Know for First Exam Proctored 2 hour Time Limit
CSC 1123 Online
Proctored Exam see modules -> Good to Know Info -> Proctor Test Appointment Steps.pdf
2 Parts: (watch Video on Taking Exams)
The Written part will be Short Answer foun
Keys words of GDP
Final (end or final users)
In a country domestically
In a given time period (GDP in 2015)
Which is counted as GDP in 2015?
Toyota cars produced in the U.S. in 2015 (yes)
Toyota cars produced in 2014 and sold in 2015