Macroeconomics

Principles of Macroeconomics Homework 1 Please write down your answers as clearly as possible. 1. Below are some data from the land of milk and honey. Year 2008 2009 2010 Price of Milk $1 $1 $2 Quantity of Milk 100 quarts 200 200 Price of Honey $2 $2 $4 Quantity of Honey 50 quarts 100 100

How much of the income in the United States is in the form of wages and fringe benefits?

The two parts in this assignment will contribute equally to your grade and will be evaluated separately.

In the Private Sector, there are many choices to be made by Business managers regarding which “projects” to borrow for and which “projects” to invest in.  These choices often contain a great deal of ______________________ as well as the potential for benefits (profits).

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

I declare that this assignment is my individual work. I have not worked collaboratively nor have I copied from any other student’s work or from any other source except where due acknowledgment is made explicitly in the text, nor has any part been written for me by another person.

1. College logo t-shirts priced at $15 sell at a rate of 25 per week, but when the bookstore marks them down to $10 it finds that it can sell 50 t-shirts per week. What is the price elasticity of demand for the logo t-shirts? Is the demand elastic or inelastic?

| Respond to weekly discussion questions.To earn full credit for DQ participation you must post 2 or more posts on EACH of 4 or more days excluding the weekly summary

Group Work: Maximum four per group, all students must be registered in the same section of the same

INSTRUCTIONS: you have 1 hour 30 minutes to complete the exam. Write all your answers in the space provided; any work on the back pages will be given zero credit. You can write

Sweat stains are the first thing a person would notice about the jackets in the bag. You can see them from far, they are visible like stars in a dark night, a lot of them. Then there is a smell of rusty metals mixed with smell of stinky socks. There, a shine appear and gone in your sight before your brain makes a conscious thought, it was the reflection of light on the blade. The mask was soaking in a dark green tone, of course, it’s mixture of sweat and electric surface of the lame, it is, your honor. You fence.

7. Which of the following must be true if a firm is experiencing economies of scale?

a) Textbook Definition: “the PPC captures all maximum output possibilities for two (or more) goods, given

The paper discusses a number of issues related to the macro economy of the United States of America. The rise of the international trade has completely changed the dynamics of the industry and has affected the overall productivity of the economy of the United States of America. This paper highlights a few key issues in the trade setup of the economy.

Rent-seeking is also used. Rent-seeking is increasing prices so people can make a profit. Government uses laws and rules to gain more money from activities. For example, foreign goods are higher priced so that government can make more money off things, but this also limits competition. This limits competition because not everyone is