Economics and National Income

Economics 1, BUS 121 The economy of Brazil is in the top ten largest economies along with the United States. It is the biggest in Latin America. Actually it is the seventh largest in the world. Brazil has used its newly found economic mechanism to syndicate its outcome in South America and show more of a role in the Global Businesses. The Obama Administration’s National Security Strategy recognizes Brazil as a developing center of effect, and greets the management of the country’s joint and global issues. The United States and Brazil associations mostly have been good in the recent years. But Brazil has other strengthening relations with neighboring countries and expanding ties with nontraditional partners in the South that’s developing.

A corporate form of business enterprise has the following advantages: Legal framework A corporate business enterprise is established under a specific legal framework where laws governing the operations and functioning of the enterprise are outlined. The activities of the enterprise are monitored and therefore such an enterprise is recognized by law. This is important due to the fact that legal suits can be filed by the enterprise within the provisions of the law.

1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points)

(a) Does this decision create an externality? If so, what kind? (b) Despite the city’s positive response to the coffee shop’s renovation, other businesses in the area have not followed suit in renovating the many decrepit buildings and abandoned lots. How might the presence of an externality be in part the cause of this?

2. What is the effect on the equilibrium price and equilibrium quantity of orange juice if the price of apple juice decreases and the wage rate paid to orange grove workers increases?

1. (10 pts.) Stella Ann Freeman is having a difficult time deciding whether or not to purchase a new car. How would understanding the concept of opportunity costs help her make a decision?

Lesson 4 1. If an economy produces final output worth $5 trillion, then the amount of gross

1.Consider the following entry game.  Here, firm B is an existing firm in the market, and firm A is a potential entrant.  Firm A must decide whether to enter the market (play "enter") or stay out of the market (play "not enter").  If firm A decides to enter the market, firm B must decide whether to engage in a price war (play "hard"), or not (play "soft").  By playing "hard", firm B ensures that firm A makes a loss of $1 million, but firm B only makes $1 million in profits.  On the other hand, if firm B plays "soft", the new entrant takes half of the market, and each firm earns profits of $5 million.  If firm A stays out, it earns zero while firm B earns $10 million. Which of the following are Nash equilibrium strategies?

Answer Selected Answer: bounded rationality. Correct Answer: systematically missed opportunities. Question 3 10 out of 10 points Assume that a cargo ship carrying the merchandise Correct Answer: the highest-cost firm in operation breaks even, while the low cost firms will earn profit.

Selected Answer: profits Correct Answer: profits Question 3 0 out of 5 points A typical factor that creates principal-agent problems is Selected Answer: the greater number of agents relative to the number of principals Correct Answer: Correct Answer: c.Demand is elastic and marginal revenue is positive. Question 19 0 out of 5 points An increase in the exchange rate of the U.S. dollar relative to a trading partner can result from

b. Get a job after high school or go to college: If I chose to get a job after high school I would have more money than if I went to

Figure 8 D S1 S price of houses P1 P 3 Answer A A tax can be used to ensure that those who generate harmful effects pay for them rather than third parties. 4 Answer B Public goods cannot be left to market forces as they are non-rival and non-excludable. A and C refer to merit goods and D to demerit goods. 5 Answer B More training, if in appropriate areas, should enable workers to move more easily from declining to expanding industries. A would help to reduce geographical immobility. C and D would be likely to increase demand and employment. 6 Answer B The socially optimum output is where MSB equals MSC, at point W. To achieve this output costs need to rise to incorporate external cost. The marginal external cost at W is represented by the gap between MSC and MPC.

Economics 247 Assignment 1 Version A This assignment has a maximum total of 100 marks and is worth 10% of your total grade for this course. You should complete it after completing your course work for Units 1 through 5. Answer each question clearly and concisely.

Country Economic Analysis Report Throughout the years, the United States of America has endured a very strong economy. Although there have been many obstacles of hindrance such as trade deficits, wars, hostile governments and embargo’s, the economic status of the United States still continues to prevail. Just to name a few, the economy of this country survives on simple commodities such as pork, oranges, precious metals and the productive efforts of its citizens. In this paper, I will not only introduce and discuss the logistics of both the United States and the United Kingdom; I will discuss its key economic obstacles and its economic well being.

In any economy, output, income, and aggregate expenditure coincide. However, this cannot be the equilibrium condition, since it is an identity. In order to be able to say that the economy has reached the equilibrium, the condition that is required is that the production and the rent are equal to the planned expenditure. The difference between planned expenditure and actual expenditure is unplanned inventory investment, which is also part of aggregate demand. Therefore, another way of defining equilibrium is that the unplanned investment in stocks equals zero.