Economics 202 Homework Assignment # 1 Instructions: Please write your answers in the space provided for each question. Answers to short essays should be concise and to the point. If necessary, use a separate piece of paper for your computations. Make sure
WEEK 4 - BUSINESS CYCLES, UNEMPLOYMENT, AND INFLATION
if demand is elastic and the price rises, the quantity demanded falls a lot so
revenue will fall
if demand is inelastic and the price increases, the quantity demanded does not fall
a lot, so revenue w
Principles of Macroeconomics
Dr. Samantha Carrington
For weeks that class is held on campus:
Tuesdays & Thursdays 3:00 to 4:20 pm
and by appointment.
For other weeks, questions will b
Homework Assignment # 2
Instructions: Please write your answers in the space provided for each question. Answers
to short essays should be concise and to the point. If necessary, use a separate piece of
paper for your computations. Make sur
1 val ue:
The following table shows yearly real GDP data for France from 2006 to 2014, measured in billions of U.S. dollars.
a. For each year, identity which stage ofthe business cycle the real GDP data represent for France.
WEEK 6 - AGGREGATE DEMAND AND SUPPLY
aggregate demand is a negative relationship between the price level and the quantity of real
GDP, or output, demanded.
aggregate demand is downward sloping.
Aggregate expenditures determine the level of real GDP.
HOMEWORK WEEK 10
1. Determine which economic school of thought would be most likely to make each of the
a. The severity of the 20072009 recession, also known as the Great Recession, was mitigated by
the American Recovery and Reinvest
Macroeconomics, born during the great depression, grew from a need to understand the entire
economy and to provide guidance on how to manage it
The dollar value of a quota rent is equal to the size of the quota times the difference between
Time deposits - This is M2
Demand deposits - This is in both M1 and M2
Travelers checks - this is in both M1 and M2?
Money market mutual funds - this is in M2
The six-month certificate of deposit (CD) you bought in june that will mature in time to
WEEK 7 - FISCAL POLICY OVERVIEW ASSIGNMENT
When there are few substitutes for a good or service, demand tends to be relatively more
when the price of windbreakers is $30, consumers purchase 700 windbreakers in the market.
When the price of windb
WEEK 2 - PUBLIC FINANCE
For each pair of goods, determine which one would have a relatively more elastic
Brand name shoes or all shoes - brand name
Ice cream or all frozen treats - ice cream
all chips or potato chips - potato chips
a price el
WEEK 1 - FUNDAMENTALS
When the marginal benefit equals the marginal cost, that stable level is an equilibrium level
Combinations beyond the production possibilities frontier are impossible to produce with the
current resources and technology
WEEK 3 - MEASURING OUTPUT AND INCOME AND ECONOMIC GROWTH
Gross Private Consumption Expenditures(C)
Gross Private Investment (I)
Government Purchases (G)
Net Exports (X - M)
GDP = C + I + G +NX
NDP = GDP - total capital depreciation
we often simply call the federal reserve system the fed, whereas the feds is used as an
abbreviation for federal bureau of investigation (FBI) officers or for agents
Suppose the money market in the united states and the investment demand curve ar
WEEK 5 - AGGREGATE EXPENDITURES MODEL
Because an inverse relationship exists between the price and the quantity demanded:
the price elasticity of demand is negative
Chronic unemployment challenged classical theories of labor markets during
The Great Depre
Economics 101 - Fall 2015
Homework 1 Suggested Solutions
Why is it that the goals of policymaking, that is the criteria by which we assess policy, often conflict?
Equity and Efficiency: a policy that leads to efficiency often impacts peop