Open Book Midterm Exam ( Weight 110 Points ) Name

Course Description Principles of Macroeconomics deals with consumers as a whole, producers as a whole, the effects of government spending and taxation policies, and the effects of the monetary policy carried out by the Federal Reserve Bank. Macroeconomics is concerned with unemployment, inflation, and the business cycle. Text Required: Macroeconomics, Roger A. Arnold, 7th Edition, 2005 Recommended: Macroeconomics Study Guide, Roger A. Arnold, 7th

Another form of macroeconomic policy is fiscal policy, which involves the use of the Commonwealth Government’s budget in order to achieve the Government economic objectives. By varying the amount of government spending and revenue, the government can effectively alter the level of economic activity, which in turn will influence economic growth, inflation, unemployment and the external indicators of the economy.

Please complete the following questions. It is important that you use full sentences and present the questions and answers when you submit your work. Submit the work as a file attachment. This means you complete all work in a word processing document (e.g., Microsoft Word) and attach the file using the dropbox tool. Use the Unit 1: Text Questions dropbox basket.

Please complete the following questions. It is important that you use full sentences and present the questions and answers when you submit your work. Submit the work as a file attachment. This means you complete all work in a word processing document (e.g., Microsoft Word) and attach the file using the dropbox tool. Use the Unit 3: Text Questions dropbox basket.

In this case, the F is a dihybrid with AB on one chromosome and ab on the other

Equator - imaginary line at 0° latitude that divides the earth into the northern and southern hemispheres

While it's unclear whether the Democrats can hang onto the White House, it's likely that the Republicans will lose seats in both the House and Senate. Normally, a strong economy means a content electorate that returns congressional incumbents to office and maintains the political status quo. But this year is different. While few House incumbents are likely to lose, the narrowness of the GOP's House majority means the Democrats could pick up just a handful of seats and still win control of

First of all, the economy is affected because there are major issues that examines the difference between the policies and political positions such as taxes, the role of government, entitlements (Social Security, Medicare), gun control, immigration, healthcare, abortion, and gay rights. They differ in their philosophies, but yet dominate

Government plays a crucial role in the market economy by ensuring the laws and regulation are abide by, and control the production of the private sectors, although, over the years its efforts in controlling such economies are minimal and insignificant. Market forces of demand and supply play a major role in setting trends that such market economies follow. Economic growth, inflation, interest rates, wage rates of workers and unemployment rates are some of the fields the government takes part in controlling, to boost the Gross National Product (GNP) of the state.

The Gross Domestic Product (GDP) is a calculation that provides insight into the current economy of our nation to allow individuals to understand the current and past year’s standings in the economy. The calculation of the GDP allows for the government to determine what adjustments are necessary to manage an effective status for the economy. Based upon the GDP the government can forecast any necessary changes that must be made to either the monetary policy or the fiscal policy. The wealth of a country is based upon the government’s ability to manage the economy through the monetary system and not on the amount of money that is located within that economy. The calculations for the GDP are produced to provide the most

3. Macroeconomics – the branch of economics that studies the relationship among broad economic aggregates like national income, national output, money supply, bank deposits, total volumes of savings, investment, consumption expenditure, general price level of commodities, government spending, inflation, recession, employment, and money supply.

Microeconomics involves supply and demand in an individual market, individual consumer behavior, and externalities arising from production and consumption; while, macroeconomics involves monetary/fiscal policy, reason for inflation and unemployment, and international trade/ globalization.

Macroeconomic indicator are an economic statistic which are often large statistics put out by private companies, non-profit organization or various government agencies. Some of the common and vital indicators such as Nonfarm payroll jobs, Unemployment rate report, Gross Domestic Product (GDP), ISM report for manufacturing or the Consumer Confidence index, provide a measurement for evaluating the health of the economy, current business cycles, or consumer spending. They are released monthly or quarterly and can be leading or lagging. While it is important to keep up with the pulse of the economy, many experts do not look through the all of the sections of indicators because the data can change. The relative changes indicate how the economy

The Economy is the backbone to society. There are many factors that operate in, and govern our society’s economical structure. Factors such as scarcity and choice, opportunity cost, marginal analysis, microeconomics, macroeconomics, factors of production, production possibilities, law of increasing opportunity cost, economic systems, circular flow model, money, and economic costs and profits all contribute to what is known as the economy. These properties as well as a few others, work together to influence the economy. Microeconomics and Macroeconomics are two major components. Both of these are broken down into several different components that dictate societal norms and views.

The theory of macroeconomic analysis deals with economic aggregates. This theory is very critical and important in decision making by planning agents in the economy (Mankiw, 2010). Macroeconomics analysis is of great and paramount importance to the three entities that comprise of any economy who are the households, firms and the government institution. The households in the economy are majorly interested in the macroeconomic analysis to determine and know how a slight change in general price level is likely to affect their welfare through what they can be able to purchase with the same level of nominal income. It is also very crucial to the households in explaining how changes in the nominal interest rates is likely to influence the cost of borrowing money by the households for investment purpose. Macroeconomics analysis looks at the aggregate effect of those changes putting into consideration all the households in the economy in order to come up with just one decision measure that is characteristic of the overall economy (Samuelson, 2008).