b. An economy that is experiencing rapid "sectoral shifts" in which some industries grow rapidly and other shrink will see an increase in the natural rate of unemplovment.
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- True or false? Economic change during the Civil War was part of Charles and Mary Beard meant when they called the war a second American revolution. The textbook makes a case that while the war accelerated prewar trends of innovation in modernization, it was hardly revolutionary in terms of changing the fundamental direction of the economy. And while statistically the war neither accelerated nor retarded long-term economic growth, it did Ladik we alter the section of the tribulation of wealth and output, very much to the advantage of the northWhich question is an example of a macroeconomic question? A. What is the level of industrial concentration in the U.S. automobile industry?B. What economic incentives can be used to reduce the cost of health care in the nation?C. What policies would be recommended for stimulating national economic growth?D. What market conditions are expected for milk in the nation this year?Please answer both I will rate Generally speaking, timber represents an exhaustible resource,while coal and oil represent renewable resources. a. true b. false 2-densify the normative statement (or statements) below: a. the U.S. unemployment rate was below 5.0% in 2018 b. U.S. trade restrictions cost consumers $200 billion annually c. when the national unemployment rate is 6%, the unemployment rate for inner city youth is often close to 30% d. none of the statements above are normative
- We live in a world where computers and other items of technology seem to get ever cheaper to produce. Such technology is important in the production of a vast range of consumer goods. We wish to analyse the impact of this phenomenon on two key pieces of economic data. The main impact of the decreasing cost of technology is that (select from consumption/investment/government spending/exports/imports/economy-wide production costs/wage costs) would (Select increase/decrease) This would shift the (Select one from the picture attached) which (Select: Increse or decreases the price level) and (Select: increases or decreases GDP) Suppose that the economy is now away from long run equilibrium (GDP is above Yf). The way that the economy adjusts back to equilibrium is that (Select: interest rates/the exchange rate/factor prices such as wages/governement spending) (Select: Increases/decreases). This shifts the (Select one from the picture attached)Economic Models? a. are essential representations of the real world b. are used to explain how people think c. are never used for making economic projections or predictions d. are used to explain how people behaveCategorize the following as microeconomic or macroeconomic questions: (vii) Why are interest rates rising? (viii) Why are economic growth rates different in the Jamaica and Antigua?
- Question 04: Positive or Normative statements? Indicate whether each of the following statements is a positive or normative economic statement: Statement from our Illinois Senators websites… Dick Durbin's website: America now owes over $14 trillion to our creditors. Referring to the above statement Durbin states: This is simply unsustainable. Tammy Duckworth's website: The Family and Medical Leave Act, known as FMLA, [gives] some new parents the opportunity to take up to 12 weeks of unpaid leave. Duckworth later states: we should pass common-sense legislation to make the workplace more accommodating for working parents. Question 5 options: A) in order: positive, positive, normative, normative B) in order: normative, positive, normative, positive C) in order: positive, normative, positive, normative D) in order: normative, normative, positive, positive03. Which of the following statements about point C is FALSE? a) production of both X and Y can increase, without more resources or improvement in technology. b) to produce more of product Y, some of product X has to be sacrificed. c) 12 units of product Y and 16 units of product X is being produced. d) the economy is not producing efficiently. e) both (a) and (d).It’s the year 2050, and things are a little crazy (crazier?) in America. Sen. Shellow Bazic (Texas) – whose vote is pivotal in the senate – has sponsored a bill in the senate to require all employers in America to pay their employees with Texas Roadhouse meal vouchers. She says that at least $500 of compensation per month should be paid in this form. A $500 voucher will cost employers $500, and can be redeemed for meals at Texas Roadhouse up to a value of $500. Change will be given in further vouchers. Vouchers are not transferrable (so they have to be used by the employee themselves). You are advising the senator for Georgia, and remember that years ago you took an employee benefits class. a. estimate how cash wages will change as a result of the introduction of this program.
- The economy of a hypothetical country has been stable for two or three years with very low unemployment. Wages have been gradually increasing during this time. Now stock market prices begin significant increases, causing peoples’ investments, such as their retirement accounts and other investments, to increase in value. People feel very good about the future and use their new-found wealth to buy things that they had been hesitant to purchase in the past. Describe, in a short essay inserted below these questions, how the economic situation will change and how the government could best respond to these changes. Include detailed answers to the following questions in your essay: What kind of economic gap will start to occur (inflationary or recessionary)? What kind of fiscal policy might be helpful to stabilize the economy (expansionary or contractionary)? What specific fiscal policy tools does the government have available, and how should these tools be utilized to maximize their…What steps are involved in developing and testing an economic theory or model? What are the criteria for a useful theory or model?ii. Identify each of the following topics as being part of microeconomics or macroeconomics: a.the impact of a change in consumer income on the purchase of luxury automobiles b.the effect of a change in the price of Coke on the purchase of Pepsi c.the impact of a war in the Middle East on the rate of inflation in the United States d.factors influencing the rate of economic growth. e.factors influencing the demand for tractors. f.the impact of tax policy on national saving.
