BU204 Homework Help | Online Tutoring

General Information:  

a. Define key terms listed below as they are defined in the textbook.  

b. Explain what those definitions mean to you in your own words.  

c. If graphs will help clarify your explanation, place the appropriate graphs in your word document.    

d. Explanations that accurately reflects the learning of the Unit, that are logical, and clearly presented with correct spelling, word usage and grammar.

e. Correct APA format, including Header information with your name, course number, Section number, unit number and date, double spaced test in 12 point Times New Roman black font

e. References are listed at the end of your answer to the question.

Terms to be defined:

Trade Offs

Opportunity Costs

Marginal Analysis

Market Equilibrium

Government interventions

Unintended Consequences

780 words

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2  General Information:

 Define key terms

 a. Define key terms listed below as they are defined in the textbook.

b. Explain what those definitions mean to you in your own words.

c. If graphs will help clarify your explanation, place the appropriate graphs in your word document.

d. Explanations that accurately reflects the learning of the Unit, that are logical, and clearly presented with correct spelling, word usage and grammar.

e. Correct APA format, including Header information with your name, course number, Section number, unit number and date, double spaced test in 12 point Times New Roman black font

e. References are listed at the end of your answer to the question.

 

Terms to be defined:

 Production Possibility Frontier

Comparative Advantage

Absolute Advantage

Increasing Marginal Costs

Positive economic statements

Normative economic statement

640 words

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Questions: 1. A representative of the American clothing industry recently made the following statement: “Workers in Asia often work in sweatshop conditions earning only pennies an hour. American workers are more productive and as a result earn higher wages. In order to preserve the dignity of the American workplace, the government should enact legislation banning imports of low-wage Asian clothing.” Answer the following: (10 points)

a. Which parts of this quote are positive statements? Which parts are normative statements?

b. Would such a policy make some Americans better off without making any other Americans worse off? Explain who and why.

c. Would low-wage Asian workers benefit from or be hurt by such a policy and why?

2. Referring to the same situation in question 1, but instead of legislation banning the imports, assume that the government enacts a special tax on imported clothing that is so high that the selling price of the imports would be equal to the selling price of the same clothing made in America. This kind of tax is called a tariff and is enacted to protect domestic producers of the same items that can be imported at much lower costs. Answer the following: (10 points)

a. What would shoppers see when they shopped in Wal-Mart and the other “big box” stores that sell so many imported items?

b. Would this tax policy have a better effect, worse effect, or no different effect on American workers than the legislation banning the imports discussed in question 1? What kind of effect would the tax have on the Asian workers?

3. A growing economy means that the economy is producing more and more “stuff”, either because it has more resources (workers), or uses those resources more productively (smarter, better workers, working with better machines and systems). A growing economy that produces more and more “stuff” normally means that the people have a higher and higher standard of living. If the government adopts a “free trade” policy towards all imports, including the low cost clothing of question 1 and 2, in which it places no barriers to importing items, can that action help the economy to grow? Explain your answer. (10 points)

635 words

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Reliance on finite supplies of foreign oil and on coal fired electric power plants causes ever increasing prices that we must pay for the oil and the deleterious effects on our environment from both as sources of greenhouse gasses contributing to global warming.

There are several renewable sources of energy available to the world. These include:

1. Wind power (both large scale wind turbines and household sized roof mounted wind turbines to co-generate electricity)

2. Solar water heating (roof mounted solar collectors)

3. Solar photovoltaic electric generation (solar cells mounted on roofs to co-generate electricity)

4. Ocean wave generation of electricity


5. In transportation, the development of all electric and hybrid electric cars

Please pick one of these topics, do internet research on it and discuss the ECONOMIC impact on the overall economy that national adoption of that choice would have and discuss what the drawbacks are to adopting that system in the near future.

637 words

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General Instructions

The goal of this assignment is to provide opportunities for students to learn about other countries while also improving their written and oral communication skills. This assignment is intended to prepare students for the challenges of their chosen professions in business, government, not-for-profits, and academics.

Having an understanding of business etiquette in America is essential for anyone seeking a career in Business. Having an understanding of business etiquette in other countries gives a competitive advantage which is essential in Macroeconomics.

Your company has a product that it is interested in marketing in a foreign country. Using one of the following Websites, click on a country of your choice to learn about etiquette, customs, and protocol for the chosen country.

Using the information you learned through this research, write a professional 1 to 2 page report to your company President to be distributed to business professionals in this country.

In addition, provide a memo that includes at least 5 etiquette tips unique to the selected country. Use complete sentences. Be sure to paraphrase the information collected and use appropriate citations.

Also discuss how knowing about global business etiquette practices would be beneficial for topics in Macroeconomics.

http://www.cyborlink.com/

http://www.kwintessential.co.uk/resources/country-profiles.html

655 words

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Key terms definitions:

Demand

Supply

Cause of a Movement along a Curve

Causes of a Shift of both the demand and

supply curves

Equilibrium

Cause of a Surplus

Cause of a Shortage

Floor price, Ceiling Price

1073 words

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1. What is the effect on the market for an hour of babysitting services in Middling today, during this increased birthrate? Explain the change, if any in the price of babysitting, and in both the amount of babysitting demanded and supplied, giving your reasons for these

2. What is the effect on the market for an hour of babysitting services 14 years into the future, after the birth rate has returned to normal, by which time children born today, during this increased birthrate, will be old enough to work as babysitters? Explain the change, if any in the price of babysitting, and in both the amount of babysitting demanded and supplied, giving your reasons for these changes.

3. What is the effect on the market for an hour of babysitting services 30 years into the future, when children born today, during this increased birthrate, will be adults and are likely to be having children of their own? Explain the change, if any in the price of babysitting, and in both the amount of babysitting demanded and supplied, giving your reasons for these changes.

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1. Due to the large profits earned by surfboard producers, there is a significant increase in the number of producers of surfboards.

 2. Thinking of the recreational activity that you most enjoy, can you describe some similar economic event that has resulted in a supply and demand impact on the recreation you most enjoy?

452 words

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1. Atlantis is a small, isolated island in the South Atlantic. The inhabitants grow potatoes and catch fresh fish. The accompanying table shows the maximum annual output combinations of potatoes and fish that can be produced. Obviously, given their limited resources and available technology, as they use more of their resources for potato production, there are fewer resources available for catching fish.

a. Examine the Maximum annual output options table above and the resulting Production Possibility Frontier Graph below and answer parts b - f.

b. Can Atlantis produce 500 pounds of fish and 800 pounds of potatoes? (5 points)   Explain.

c. What is the opportunity cost of increasing the annual output of potatoes from 600 to 800 pounds?

d. What is the opportunity cost of increasing the annual output of potatoes from 200 to 400 pounds?

e. Can you explain why the answers to parts c and d are not the same?  

f. What does this imply about the slope of the production possibility frontier?

 

2. Peter Pundit, an economics reporter, states that the European Union (EU) is increasing its productivity very rapidly in all industries. He claims that this productivity advance is so rapid that output from the EU in these industries will soon exceed that of the United States and, as a result, the United States will no longer benefit from trade with the EU.

a. Do you think Peter Pundit is correct or not?  If not, what do you think is the source of his mistake

b. If the EU and the United States continue to trade what do you think will characterize the goods that the EU exports to the United States and the goods that the United States exports to the EU

 

3.  [Maps to course outcome/s # 1, 2, 3, & 4] As noted in the text, European governments tend to make greater use of price controls than does the American government. For example, the French government sets minimum starting yearly wages for new hires who have completed le bac, certification roughly equivalent to a high school diploma. The demand schedule for new hires with le bac and the supply schedule for similarly credentialed new job seekers are given in the accompanying table. The price here—given in euros, the currency used in France—is the same as the yearly wage.

a. In the absence of government interference, what is the equilibrium wage and number of graduates hired per year?  (Also see the diagram)  Will there be anyone seeking a job at the equilibrium wage who will be unable to find one— that is, will there be anyone who is involuntarily unemployed?  

b1. Suppose the French government sets a minimum yearly wage of €35,000. (Also see the diagram)   Is there any involuntary unemployment at this wage?  If so, how much?   Explain why.

b2. What if the minimum wage is set at €40,000?  (Also see the diagram)   Is there any involuntary unemployment at this wage?  If so, how much?  Explain why.

c. Given your answer to part b and the information in the table, what do you think is the relationship between the level of involuntary unemployment and the level of the minimum wage?  Who benefits from such a policy and who loses?  What is the missed opportunity here?

 

4. For the last 70 years the U.S. government has used price supports to provide income assistance to American farmers. At times the government has used price floors, which it maintains by buying up the surplus farm products. At other times, it has used target prices, a policy by which the government gives the farmer an amount equal to the difference between the market price and the target price for each unit sold. Consider the market for corn depicted in the accompanying figure.

a. If the government sets a price floor of $5 per bushel, what does that mean and how will it affect supply and demand (illustrate on the supply and demand curve below)?    How many bushels of corn are produced by the farmer?  How many bushels of corn are purchased by consumers and at what price?  How many bushels of corn are purchased by the government and at what price?  How much does the program cost the government?     How much revenue do corn farmers receive?

b. Suppose the government sets a target price of $5 per bushel for any quantity supplied up to 1,000 bushels   What does that mean and how will it affect supply and demand (illustrate on the supply and demand curve below)?  How many bushels of corn are purchased by consumers and at what price?  How many bushels of corn are purchased by the government, if any?  How much does the government pay the farmer and at what price?  How much revenue do corn farmers receive?

c. Which of these programs (in parts a and b) costs corn consumers more?  Explain.

Which program costs the government more?  Explain.  What are the inefficiencies that arise in each of these cases (parts a and b)?

 

5.  A more complex circular-flow diagram for the economy of Macronia is shown.   Define the terms of each of the following items and calculate their value based on the circular flow diagram.

a. Define GDP, giving what items comprise the GDP (4 points) and then compute the value of GDP in Macronia.

b. Define net exports and the items that comprise it (4 points) and compute the value of Net exports in Macronia.

 c. Define disposable income and the items that comprise it (4 points) and compute the value of disposable income in Macronia.

d. Define the elements of money flows into and out of households and compute the amounts.  Does the total flow of money out of households equal the total flow of money into households? Explain.

 

6.  Use electronic libraries/databases for research purposes:

Use the Kaplan electronic library and databases to answer the following question and compose a two to four paragraph essay.  The first paragraphs Use the Kaplan electronic library and databases to answer the following should answer the question (in your answer, properly cite a minimum of three electronic sources from the Kaplan library databases and include these sources in your final reference list).  The LAST paragraph should describe the methods you used to discover these sources.  Which data bases did you search?  What combination of search terms did you use?  Which methods resulted in the most hits?  Which methods resulted in few or no hits?

 

Our text describes the creation of the CPI.  Research and explain what comprises the market basket of goods, the most recent CPI, and what that number means to policy makers, politicians, and to general public.

e. Define the elements of flows of money into and out of the government and compute the amounts. Explain how the government finances its spending.

1244 words + diagrams + graphs

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Analyze the roles of physical capital, human capital, technology, and natural resources in influencing long-run economic growth of aggregate output per capital, and how governments can contribute, or discourage long run growth through their policies and institutions.

383 words

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Key terms:

GDP per Capita

Labor productivity

Diminishing returns to physical capital

Political stability and preotection of property rights

Budget surplus, budget deficit, national debt

Rate of return

707 words

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Suppose that the economy is currently at potential output. Also suppose that you are an economic policy maker and that a college economics student asks you to rank, if possible, your most preferred to least preferred type of shock: positive demand shock, negative demand shock, positive supply shock, negative supply shock. How would you rank them and why?

299 words

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Define key terms
a. Define key terms listed below as they are defined in the textbook.
b. Explain what those definitions mean to you in your own words.
c. If graphs will help clarify your explanation, place the appropriate graphs in your word document.
d. Explanations that accurately reflects the learning of the Unit, that are logical, and clearly presented with correct spelling, word usage and grammar.
e. Correct APA format, including Header information with your name, course number, Section number, unit number and date, double spaced test in 12 point Times New Roman black font
e. References are listed at the end of your answer to the question.


Terms to be defined:


“Sticky” nominal wages
Long Run Aggregate Supply Curve
Marginal Propensity to Consume
Multiplier
Supply Shocks, both positive and negative
Demand Shocks, both positive and negative

583 words

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Define key terms
a. Define key terms listed below as they are defined in the textbook.
b. Explain what those definitions mean to you in your own words.
c. If graphs will help clarify your explanation, place the appropriate graphs in your word document.
d. Explanations that accurately reflects the learning of the Unit, that are logical, and clearly presented with correct spelling, word usage and grammar.
e. Correct APA format, including Header information with your name, course number, Section number, unit number and date, double spaced test in 12 point Times New Roman black font
e. References are listed at the end of your answer to the question.


Terms to be defined:


Potential Output

Recessionary and Inflationary gaps

Expansionary and contractionary fiscal policies

Automatic stabilizers

565 words

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What are the short- and long-term economic benefits and costs associated with our current high federal government budget deficits? Do you think the economic benefits outweigh the economic costs, or not? Why? If we wished to reduce the budget deficit then how would you advocate that be accomplished?

345 words

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The textbook describes how banks “create” money.

a. Explain in your own words the process by which banks “create” money.

b. Discuss the impact of that ability to create money on the economy during an inflationary gap, as well as during a recessionary gap.

c.  Considering the higher rates of unemployment and the likelihood of lower prices during a recessionary gap, do banks with their lending policies, contribute to a recovery back to potential output, or hinder that recovery?  Why do you believe your answer to be correct?  What about during an inflationary gap?

356 words

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Define key terms
a. Define key terms listed below as they are defined in the textbook.
b. Explain what those definitions mean to you in your own words.
c. If graphs will help clarify your explanation, place the appropriate graphs in your word document.
d. Explanations that accurately reflects the learning of the Unit, that are logical, and clearly presented with correct spelling, word usage and grammar.
e. Correct APA format, including Header information with your name, course number, Section number, unit number and date, double spaced test in 12 point Times New Roman black font
e. References are listed at the end of your answer to the question.


Terms to be defined:

Fiat money

M1, M2

FED

Bank Reserves

Federal Fund rate

FED discount rate

Monetary policy

655 words

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1.  Define any key terms that you feel are important in answering the following question as they are defined in the textbook and explain, in your own words what those definitions mean (5 points), and then thoroughly analyze each of the following changes in the market for loanable funds to answer the these questions    Use the diagrams below, resizing them as necessary, to illustrate your analysis in explaining what happens to private savings, private investment spending, and the rate of interest if the following events occur. Assume the economy is closed (no transactions are made with foreign countries).

a. The government reduces the size of its deficit to zero (10 points).

b. At any given interest rate, consumers decide to save more.  Assume the budget balance is zero (10 points).

c. At any given interest rate, businesses become very optimistic about the future profitability of investment spending. Assume the budget balance is zero (10 points).

2.  Define any key terms that you feel are important in answering the following question as they are defined in the textbook and explain, in your own words what those definitions mean (5 points), and then thoroughly analyze each situation to answer the following questions.

Using aggregate demand, short-run aggregate supplies, and long-run aggregate supply curves, explain the process and causes by which each of the following economic events will move the economy from one long-run macroeconomic equilibrium to another. Use the diagrams below, resizing them as necessary, to illustrate your analysis. In each case, what are the short-run and long-run effects on the aggregate price level and aggregate output?

a. There is a decrease in households’ wealth due to a decline in the stock market (15 points).

b. The government lowers taxes, leaving households with more disposable income, with no corresponding reduction in government purchases (15 points).

3.   Define any key terms that you feel are important in answering the following question as they are defined in the textbook and explain, in your own words what those definitions mean (5 points), and then thoroughly analyze each situation to answer the following questions.

An economy in a hypothetical country is in long-run macroeconomic equilibrium when each of the following aggregate demand shocks occurs. What kind of gap—inflationary or recessionary—will the economy face after the shock, and what type of fiscal policies, giving specific examples, would help move the economy back to potential output?

a. A stock market boom increases the value of stocks held by households (10 points).

b. Firms come to believe that a recession in the near future is likely (10 points).

c. Anticipating the possibility of war, the government increases its purchases of military equipment (10 points).

d. The quantity of money in the economy declines and interest rates increase (10 points).

4.  The table below shows the United States components of M1 and M2 in billions of dollars for the month of December in the years 1998 to 2007 as published in the 2008 Economic report of the President.

For a., b., c., & d., you may insert a completed Excel spreadsheet with your answers, if you wish.

a. Complete the table by calculating M1 (5 points),

b. Calculating M2 (5 points),

c. Calculating currency in circulation as a percentage of M1 (5 points) , and

d. Calculating currency in circulation as a percentage of M2 (5 points).

e. Examining the following three charts and your completed table, what trends or patterns in:

            - M1,

            - M2,

            - currency in circulation as a percentage of  M1, and

            - currency of circulation as a percentage of M2 do you see (5 points)?

f. What might account for these trends (10 points)?

5. Considering the flow of money throughout a country’s economy and the importance of the proper level of money supply, answer the following questions.

a. Discuss how money is created within the banking system (15 points)

b. Discuss how in the United States, the Federal Reserve uses monetary policy to control the money supply. (15 points)

6. After experiencing a recession for the past two years, the residents of Albernia were looking forward to a decrease in the unemployment rate. Yet after six months of strong positive economic growth, the unemployment rate has fallen only slightly below what it was at the end of the recession.

 

a. How can you explain why the unemployment rate did not fall as much although the economy was experiencing strong economic growth? (15 points)

b. Explain how and why the unemployment rate fluctuates with the inflation rate as is depicted in the Short-Run Phillips Curve. (15 points)

1455 words + diagrams + graphs

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In Westlandia, the public holds 50% of M1 in the form of currency, and the required reserve ratio is 20%.

1. Estimate how much the money supply will increase in response to a new cash deposit of $500 by completing the accompanying table. (Hint: The first row shows that the bank must hold $100 in minimum reserves—20% of the $500 deposit—against this deposit, leaving $400 in excess reserves that can be loaned out. However, since the public wants to hold 50% of the loan in currency, only $400 × 0.5 = $200 of the loan will be deposited in round 2 from the loan granted in round 1.) Round Deposits Required reserves Excess reserves Loans Loan proceeds held as currency Loan proceeds deposited 1 $500.00 $100.00 $400.00 $400.00 $200.00 $200.00 2 $200.00 3 4 5 6 7 8 9 10 totals

2. How does your answer compare to an economy in which the total amount of the loan is deposited in the banking system and the public doesn’t hold any of the loans in currency? (Hint: Do another table with none of the loan proceeds held in currency.)

3. What does this imply about the relationship between the public’s desire for holding currency and the money multiplier?

1 MS-Word Page

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Has the US government implemented complimentary expansionary monetary policy to complement the infrastructure expenditure associated with the 2009 American Recovery and Reinvestment Act (‘Buy More Build More’ concept) in the current economic downturn?

146 words

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Reflect and describe which key concepts and topics in this course have made you a stronger candidate to enter the business world.

Discuss how this course has affected you in your professional development as a student and as a person as well as encouraging you on your academic path.

544 words

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