Running Head: AD & AS Analysis Project
Professor Rhonda Upchurch
November 13, 2016
One period in history where the United States experienced an increase in inflation
was during The Great Inflation. This was the d
19 April 2016
Name and explain the two main ways to borrow money
a. The bond market
i. A bond is a certificate of debt, that specifies the borrowers
obligations has to the holder. It is in simp
Consumer Surplus: Willingness to Pay
There is a sale at the local hardware store so X heads out to check out whats on sale. On
arriving home, X announces, Wow! I saved a lot of money today! The truth is that X spe
19 May 2016
1. In the case study, The Increasing Openness of the U.S. Economy, Mankiw
discusses the four reasons international trade has increased in recent years.
List those four reasons and briefly summarize them.
1. What distinguishes money from other assets in the economy?
a. Money is the commonly used asset in the economy, used to buy goods
and services from one another. It is distinguished because it is a
medium of exc
15 April 2016
1. In the introduction to Chapter 12, Mankiw asks three questions which he says are
among the most important questions in macroeconomics. What are those
questions and why are they important?
a. What explains
APUSH Period 2
22 October 2014
Democracy in the B.U.S.
The Second Bank of the United States was not re-chartered under the
Presidency of Andrew Jackson. Jackson vigorously opposed the idea of the Second
Bank of the United States. The banks
Name and summarize the three ways to avoid risk with your investments.
a. Insurance- a person that risks a fee pays an insurance company who then
agrees to pays for the risk. Car, health, fire, and life are d
19 March 2016
In 2007, Congress enacted legislation raising the minimum wage in annual
increments from $5.15/hour to $7.25/hour in all states and territories subject to the
United States. On September 30, 2010, Governor Togio
Attempts: 3 Average: 3! 3
2. who has the lowest opporlnnitv cost?
Madeline and Jared need to decide which one ofthem will take time offfrom work to complete the rather urgent task of digging postholes for their new
fence. Madeline is pretty good with a po
6. Opportunity Dust and prnductinn possibilities
Poomima is a skilled bury maker who is able to produce both tlains and kit. She has 3 hours a awI to produce boys. The Following table sinws the
dain output rulting from various possible
Comparing your answers in the two previous paragraphs, you can see that the opportunity cost of 2 million additional pounds of Food at point E is
greater than \I the opportunity cost of 2 million additional pounds of Food at point A. This reflec
Comptete tbe Foiiowing tabJ'e by indicating whether each point represents output combinations that are inefficient, efficient; attainable, or
unattainable. Check ailI that appiy.
A 9 Ci E E
E B Ci E D
C Ci Ci D E
D Ci Ci '3 E
E Ci E E D
F Ci B E
Suppose Fiance produoa only turn goods: mm and computers. The following gmph shows ance's current production posibiliti curve, along with
six output oombinations repraented by black poinls (1- symbols] labeled A to F.
E FF'C I'
5. The opportunity cost nfslliFting production choices
The Following glaph shows the production possibiliti curve (PFC) oF an economy that produc Food and coal. The black poinis (-l- symbols
reprent three possible output levels in a given month. fbu can c
Suppose Pccrnima is currently using combination I). producing one train per day. Her opportunity cost of producing a second train per day is
2 kites I per day.
Now. suppose Poornima is currently using combination C. producing two trains per day. Her oppor
5 May 2016
What is the classical theory of inflation?
a. This is the theory developed by early economists and states that the
value of the money is more important than the value of the goods.
Econ Period 4
2 February 2016
1. What is the difference between a trade off and opportunity cost?
a. A trade off is when we sacrifice something in order to gain something
else; these trade offs create opportunity cost. The opportunit
21 March 2016
Introduction & Deadweight Loss of Taxation [stop at Deadweight Losses and Gains from
What are the benefits of taxation?
o There is an increase in tax revenue, which is the income that the government make
Interactive Supply and Demand Stimulation
During the stimulation about supply and demand actually showed me more than I thought
it would. Going into the game I didnt really have much of a strategy. I purchased
maximum amounts of everything the
Monetary Policy Stimulation
The Federal Reserve Chairman Game does show how monetary policy is used to promote
economic growth and stability. The game shows how the federal funds rate affects the
unemployment rate and the inflation rate. The g
Running Head: Elasticity Project
Professor Rhonda Upchurch
September 25th 2016
Elastic demand is demand that increases or decreases as the price of an item goes
up or down. Apple products have shown to be elastic
1. We assume that the economy is composed of only two sector, business and
household. In this hypothetical economy the business sector is the sole producer
of goods and services and production occurs by hiring the factor of production.
a. MRP of each worker
i. 0, 15, 54, 108, 172, 240, 306
b. Zippy hire 10 workers if the wage rate is $100 per day.
c. Zippy hire 6 workers if the wage rate is $75 per day.
d. He will hire the double workers than usual.
2. The firm maximizes profit
1. Fixed inputs:
- Your building (because you own or lease it (binding
- Your video library (it would be hard to sell all this off
easily and not lose a ton of money)
- Your shelves and any other interior decoration you
might have paid for when
1. A prolonged decline in real GDP means that the economy is in trouble because it
is not growing. As far as whether the decline in real GDP forms $1,000 to $500
billion is a recession is a bit trickier. Recession is defined as 2 consecutive
a. Products are the same. There is no difference between
wheat from a Kansas farmer and wheat from an Iowa
b. There are many buyers and sellers
c. Exit and entry are relatively easy
d. The wheat prices are published every day, so buyers
CH.5 Even Questions
2. Just minimum price support programs a min price at which the government is
ready to buy all farm products the government might then sell at a premium or
loss as it wishes every year its know to dump wheat into water but. Be