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Suppose that you asked someone who has not taken an economics class why a dollar bill has value. What do you think he or she would say?
Compare the costs to society of unemployment to the costs to society of inflation.
Which of the three conditions just described-low inflation, high inflation, or deflation- best characterizes the U.S. economy right now?
What are some of the advantages and disadvantages of discretionary fiscal policy? Give some examples of the use of discretionary fiscal policy.
What is meant by an automatic stabilizer? Give some examples of economic institutions that function as automatic stabilizers.
How is the federal budget surplus or deficit defined? How has the federal budget position varied in recent years?
What is the impact of a lump-sum change in taxes on aggregate demand and economic equilibrium? How does it differ from a change in government spending?
Why doesn't the government run surpluses every year instead of deficits? Wouldn't doing so be better for the economy?
Would you ever be likely to favor a tax increase? Under what circumstances, if any, might a tax increase be beneficial to the economy?
What recent changes in government spending or tax policy have been in the news? How would you expect these to affect GDP and employment levels?
What is the initial effect of this change on inventories? How will firms change production in response to this change in inventories?
Which curve shifts and in what direction? What happens to the equilibrium interest rate? What happens to the equilibrium amount of investment?
What is the income/spending multiplier? Explain why a drop in autonomous intended investment, or in autonomous consumption, leads to a much larger drop.
How can an increase in saving (if not balanced by an increase in intended investment) cause a shrinkage of the output-income-spending flow?
Have you ever read article or editorials that claim that consumption is essential for a healthy economy. What are some arguments for the opposite point of view?
What does employment flexibility mean from the perspective of workers? From the perspective of employers?
What population is included in the official household survey that measures employment and unemployment?
Which arguments seem convincing to you, those of classical labor market theorists, sticky wage theoris. What are some strengths and weaknesses of each argument?
What is the economic order quantity? Suppose the assembly area places an order whenever the on-hand amount of part QR reaches a certain leve.
With today's economy and all the presidential talks about how unemployment is at its lowest since president Obama took over in office.
Which of the following statements regarding Gross Domestic Product is not true?
Show each of the following events through a production possibility frontier graph, and analyze what the effects of it were on economic growth:
Compare and Contrast Brazil and the United States with the state of the economy?
Identify whether the following statements are positive or normative economic statements, and explain why you categorized them in that way.
Productivity often rises during economic expansions and falls during economic recessions.