Rules versus Discretion Can Policymakers Stick to Their Promises?
Rules versus Discretion
Can Policymakers Stick to Their Promises?
1. Unanticipated inflation benefits creditors.
2. Deflation increases the
Chapter 2 Quiz
Choose the best answer for the following 5 questions worth 2 points each. You have 20 minutes
to complete this section.
If two different nations have non-constant opportunity costs in production:
Even if the production p
Chapter 14 Test Bank
Dealing with Financial Crises
Does the World Need a New
International Financial Architecture?
1. The international institutions, government and nongovernmental organizations and the policies that
05 February 2017
Chapter Two Homework
1.a. Opportunity cost=100000 modems is 300000 DVD drives producing one unit
(300000/100000)=3 DVD drives
Opportunity cost of producing 200000=3*200000=600000 DVD drives
Outsourcing is where value is added to a particular stage of production through the
internationalization of production.
If nation A has a higher K/L ratio relative to nation B, then nation B is rela
Chapter 3 ECON 3003
1. Ration of labor to capital. Utopia: 100/75=1.33 units. Idealand 75/50=1.3 Based on these
equations Idealand is more labor abundant than Utopia and Utopia is more capital abundant
2. Sandwiches are more
1. This could not always be a good thing because the larger the openness, the larger the welfare
loss resulting from inflation in response to the nominal exchange rate depreciation.
2. The number of internet sites per person can estimate the number of peo
Spears School of Business
ECON 3313.27755: Money and Banking
Instructor: Dr. Bill McLean
Office: BUS 340
Online office hours: Synchronous meetings by phone, discussion, or in person can be arr
MONEY AND BANKING
School Year 2016-2017
Course Operating Process
Course Terminal Learning Objectives: Upon
completing the course, students
Bryce Patrick Jones
Professor Orley Amos
Intro to Micro Economics 2103 Section 503
April 27th, 2016
How Economics Has Affected Me and My Life
The economy has a large and widespread influence on everyones life. Economics are
the science that deals with the
Chapter 1: Ten Principles of Economics
I. What is economics?
Mankiw definition: the study of how society manages its
II. Economics is usually divided into two subfields:
Microeconomics: the study of how households and firms
September 11th, 2016
When Will We Stop Using Fossil Fuels, If Ever?
The widespread issue that this article is addressing is fossil fuels. While being a big
convenience and economic benefit, there have been a lot of
Chapter 01 - Limits, Alternatives, and Choices
Chapter 01 Limits, Alternatives, and Choices Answer Key
Multiple Choice Questions
1. Economics is the study of:
A. increasing the level of productive resources so there is maximum output in society.
Estimation of Production
The production function
Short-run analysis of total, average and
Long-run production function
Estimation of the production function
Importance of product
Know how to interpret regression
implications of regression model
Data for studies pertaining to countries,
regions, or industries are readily avai
The Firm and its Goals
The firm and resource allocation
Profit maximization- the economic goal of
Goals other than profit
Do companies maximize profits?
Maximizing the wealth of stockholders
Define managerial economics and discuss briefly
its relationship to microeconomics and other
related fields of study such as finance, marketing,
Cite and compare the important types of
Answer keys to Chapter 5 problems 1-4 (page 162-164)
Price: Average price of the furniture. If the demand for different models or types (e.g., dining room,
bedroom, living room furniture) is estimated, then the average price of each t
CHAPTER 6 QUIZ
The marginal product of the variable input:
is always positive.
typically falls then rises.
is equal to the total product divided by the total amount of the
variable input employed.
none of the above.
Refer to Figure 5-1. Between point A and point B, the slope is equal to
a -3/2, and the price elasticity of demand is
. equal to 1/4.
b -1/4, and the price elasticity of demand is
. equal to 3/2.
c -2/3, and the price elasticity of d
QUIZ 2 CH 3
How long is the "short-run" time period in the economic analysis of the market?
total amount of time it takes original sellers to leave the market
total amount of time it takes new sellers to enter the market
three months or one bus
September 13, 2014
Group Research Assisgnment
Men in the American Economy
In 2006, the American economy was on its way to a recession. Judging by the
unemployment rates alone, foretelling a recession may not have been easy. W
12 September 2014
Hidden Costs of Gasoline
Over the past ten years, few things have been as discussed in America as much as the
cost of gasoline. When purchasing gasoline for a vehicle, it is very easy
28 September 2014
The Inmates Worry
The Prisoners Dilemma refers to a scenario that criminals could be placed
in when being indicted for crime. This is an occurrence that is commonly used to
18 September 2014
Revenues Increasing for Health Care
When reading Health- Care Spending Picks Up, I gathered early on that revenue for
health care and other health related services are increasing as of last q
(Ch 8 The Business Cycle)
Aggregate supply and demand curves summarize the market
activity of the whole (macro) economy.
People are willing and able to buy the quantity Qe when the price
level is at Pe. From the aggrega
Structure of the Fed
The Structure of the Fed
Consists of 12 banks
o Clearing checks, holding reserves, providing currency,
Who is really over the fed?
The Federal Board of Governors are responsible for setting