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Q: effects of technology on the economy
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Q: Discuss the central problems of an economy
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Q: Could you say that the consumers are a significant aspect of an economy? If so, why?
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Q: How might a theory of the economy differ from a description of that economy.
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Describe and use at least five pieces of real economic data to explain the current state of the U.S. economy.
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- Microeconomics deals with __________. a. Economy as a whole b. Aggregate demand and supply c. Income and employment d. Individual units in an economyWhich of the following questions would be studied in the area of microeconomics? Select one: a. What determines the number of hours an individual works? b. Do interest rates affect net exports? c. Will an increase in government spending cause inflation? d. What portion of total spending comes from households in the economy?With the aid of the diagram, describe the four major sectors in an economy according to the macroeconomic point of view.
- The economy can be represented by economic models. One of the models we use to understand the economy is a “Circular Flow Diagram”. Sketch a Circular flow model and explain the flow of money and flow of goods and services and factors of production caused by the following activities. Sana spends Rs.500 on a haircut. Mustafa receives Rs.200,000 from his 10 per cent ownership of Salman Chemicals Ltd.You looked at many economic indicators, including data regarding unemployment, GDP, housing starts, and consumption spending. Which of the following economic indicators NOT including those four would you likely see to support this analysis of the economy? The consumer confidence index is likely rising Inflation (the general price level of goods and services) is likely increasing Stock share prices are likely decreasing New businesses are likely being openedThe 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…
- Which of the following is a desirable feature in an economy? Group of answer choices low inflation low unemployment rapid increase in output per worker all of the aboveAccording to the article, When Reality Bites, which demographic is most affected by economic downturns?There are five mainstream schools of economic thinking on issues There are five mainstream schools of economic thinking on issues relating to what government can or cannot do with respect to stabilizing the economy. What are these schools and how do they differ on issues concerning unemployment and inflation? There are five mainstream schools of economic thinking on issues
- If two economies are identical, except the savings rate in one economy is higher, explain why we might expect the economy with the higher savings rate to grow faster and in that sense be healthier.What is meant by economicsWhat steps are involved in developing and testing an economic theory or model? What are the criteria for a useful theory or model?
