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ECO 372 Assignment Week 3 Practice Public Finance and Aggregate Demand and Supply Quiz (100% Correct) (All Possible Questions)
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ECO 372 Assignment Week 3 Practice Public Finance and Aggregate Demand and Supply Quiz (100% Correct) (All Possible Questions)

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Which of the following descriptions is most representative of the mix of revenues and expenditures of a local government?

 

•          

Revenue is predominantly from property taxes but may include sales taxes or income taxes. Expenditures include investments in education and public welfare.

•          

Revenue is predominantly from excise taxes and property taxes. Expenditures include investments in infrastructure and national defense.

•          

Revenue is predominantly from income taxes and payroll taxes. Expenditures include income security and interest on debt.

•          

Revenue is predominantly from sales taxes and may include personal or corporate income taxes. Expenditures include investments in education and infrastructure.

Explanation

A local government’s predominant revenue source is from property taxes (e.g., homeowners and businesses pay property taxes for owning real estate). The revenue is spent for different expenditures, which include investments in education (e.g., libraries and other venues) and public welfare (e.g., providing services to the homeless).

 

 

Which of the following descriptions is most representative of the mix of revenues and expenditures of the federal government?

 

•          

Revenue is predominantly from income taxes and payroll taxes. Expenditures include income security and interest on the national debt.

•          

Revenue is predominantly from excise taxes and property taxes. Expenditures include investments in infrastructure and national defense.

•          

Revenue is predominantly from property taxes but may include sales taxes or income taxes. Expenditures include investments in education and public welfare.

•          

Revenue is predominantly from sales taxes and may include personal or corporate income taxes. Expenditures include investments in education and infrastructure.

Explanation

The federal government’s predominant revenue sources are income taxes (taxes paid on income from profits, interest, dividends, etc.) and payroll taxes (mainly taxes from employee income). The revenue is spent for different expenditures, which include income security and interest on the national debt. Both are payments resulting from government debt.

Public finance is the subdiscipline of economics that studies the various ways in which

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•          

the general public acquires financing for their purchases.

•          

firms in the financial sector provide services to households and firms.

•          

governments may regulate and promote the stability of the financial sector.

•          

governments raise and expend money.

 

 

How is the public debt calculated?

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•          

By subtracting current government spending from current government tax revenues

•          

By summing the annual government purchases over time

•          

By subtracting the government’s total liabilities from its total assets

•          

By summing the annual difference between tax revenues and government spending over the years

 

 

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To track the public debt over time and understand its significance to the economy, it is best

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to compare it to imports, exports, and the trade deficit.

•          

measured relative to the gross domestic product.

 

•          

calculated relative to the money supply.

•          

examined relative to budget surpluses.

 

 

A federal budget deficit exists when federal government

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Multiple Choice

•          

assets are less than liabilities in a given year.

•          

spending exceeds tax revenues in a given year.

 

•          

taxation is decreasing in a given year.

•          

spending is increasing in a given year.

 

 

The two largest sources of tax revenue for the U.S. federal government are

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Multiple Choice

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personal income taxes and corporate income taxes.

•          

personal income taxes and payroll taxes.

 

•          

excise taxes and customs duties.

•          

payroll taxes and excise taxes.

 

 

Many states in the U.S. acquire significant amounts of funds from the following, except

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property taxes.

 

•          

state-run lotteries.

•          

grants from the Federal government.

•          

personal income taxes.

 

 

Which of the following is the largest expenditure item of local governments?

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•          

Education

 

•          

Welfare

•          

Highways

•          

Public safety

 

 

A tax is regressive if it

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takes the same percentage of income regardless of income level.

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takes a smaller percentage of income as income increases.

 

•          

is levied on consumers.

•          

takes a higher percentage of income as income increases.

 

 

The Social Security tax is regressive because

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no Social Security tax is collected for incomes in excess of a "cap" income level.

 

•          

the Social Security tax rate applied does not rise with the salary level.

•          

as income increases, the Social Security tax rate increases at a decreasing rate.

•          

each individual must pay a set percentage of his or her income in Social Security taxes.

 

 

Social Security contributions are part of

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Multiple Choice

•          

excise taxes.

•          

payroll taxes.

 

•          

indirect taxes.

•          

reverse taxes.

 

 

The largest proportion of the U.S. public debt is held by

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Multiple Choice

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U.S. government agencies.

•          

the Federal Reserve System.

•          

foreign individuals and institutions.

•          

the U.S. public (individuals, businesses, financial institutions, and government).

 

 

Which of the following is not a government activity that is involved in public finance?

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Providing public goods and services such as national defense and education.

•          

Regulating the activities of firms in the financial sector of the economy.

 

•          

Redistributing income through various taxes and income-transfer payments.

•          

Running government-owned enterprises such as hospitals, utilities, and lotteries.

 

 

A public debt that is owed to foreigners can be burdensome because

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foreign interest rates are persistently higher than domestic interest rates.

•          

the payment of interest reduces the volume of goods and services available for domestic uses.

 

•          

the payment of interest will conflict with a nation's foreign aid programs.

•          

the payment of interest will necessarily have a deflationary effect on prices in the paying nation.

 

 

Which of the following statements about payroll taxes is false?

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They are lump-sum taxes not based on wages/salaries.

 

•          

They provide funds for Social Security.

•          

Both employers and employees pay these taxes.

•          

They include Medicare taxes.

 

 

Which of the following is the largest expenditure item of state governments?

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Multiple Choice

•          

Education

 

•          

Highways

•          

Public welfare

•          

Health and hospitals

 

 

Which one of the following is not an excise tax of the federal government?

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Multiple Choice

•          

General sales tax

 

•          

Gasoline tax

•          

Alcoholic beverage tax

•          

Tobacco tax

 

 

Which of the following is not a significant source of revenue for the U.S. federal government?

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Multiple Choice

•          

Property taxes

 

•          

Personal income taxes

•          

Corporate income taxes

•          

Payroll taxes

 

 

For each of the following scenarios, determine the effect on aggregate supply.

 

a. There is an unexpected decrease in oil prices. This causes:

•          

a movement along the aggregate supply curve to the right, indicating an increase in the quantity of real GDP supplied.

•          

an increase in aggregate supply, shifting the aggregate supply curve to the right.

•          

a movement along the aggregate supply curve to the left, indicating a decrease in the quantity of real GDP supplied.

•          

a decrease in aggregate supply, shifting the aggregate supply curve to the left.

b. The government increases the amount that all producers are required to contribute to health insurance coverage. This causes:

•          

an increase in aggregate supply, shifting the aggregate supply curve to the right.

•          

a decrease in aggregate supply, shifting the aggregate supply curve to the left.

•          

a movement along the aggregate supply curve to the left, indicating a decrease in the quantity of real GDP supplied.

•          

a movement along the aggregate supply curve to the right, indicating an increase in the quantity of real GDP supplied.

Explanation

a. As oil prices decline, all producers will experience a decrease in the cost of production, as they will spend less on inputs using oil. When costs across the board decrease, it means producers can produce more goods and services at every price level. This will cause aggregate supply to increase. An increase in aggregate supply is shown as a shift in the aggregate supply curve to the right.

 

Use the graph of Remi's economy to complete the following statements.

 

a. Point B is referred to as a trough  .

 

b. The movement from point A to point E is called a business cycle  .

 

c. Point D is referred to as a peak  .

 

d. The movement from point B to point D is called an expansion  .

Explanation

A business cycle is the short-term fluctuations experienced in the economy due to changes in levels of economic activity. It occurs from the economy moving between expansions and recessions. An expansion is a phase of the business cycle characterized by increasing real GDP, income, and employment. A peak is the point in the business cycle where real GDP reaches a maximum. The peak marks the end of an expansion. A recession is a decline in real output for at least two consecutive quarters. A trough is the lowest point of economic activity in the business cycle, where real GDP reaches a minimum; the trough marks the end of a recession.

 

 

The long-run aggregate supply curve is vertical because:

•          

all input prices are flexible in the long run.

•          

some input prices are sticky in the long run.

•          

firms cannot change prices or input prices in the long run.

•          

all input prices are sticky in the long run.

Explanation

The long-run aggregate supply curve is vertical because all input prices are flexible in the long run. An increase in the price level will cause the cost of inputs to rise, and as the input prices adjust firms will not increase output as the price level increases. Therefore, output remains the same, but at a higher price.

 

 

The long-run aggregate supply curve is vertical because:

•          

all input prices are flexible in the long run.

•          

some input prices are sticky in the long run.

•          

firms cannot change prices or input prices in the long run.

•          

all input prices are sticky in the long run.

Explanation

The long-run aggregate supply curve is vertical because all input prices are flexible in the long run. An increase in the price level will cause the cost of inputs to rise, and as the input prices adjust firms will not increase output as the price level increases. Therefore, output remains the same, but at a higher price.

For each of the following scenarios, determine whether the situation described can be attributed to the real-balances effect, the interest-rate effect, or the foreign-purchases effect.

 

a. As a result of an increase in the price level, the cost of borrowing increases, which causes people to buy fewer cars. 

•          

Foreign-purchases effect

•          

Real-balances effect

•          

Interest-rate effect

b. When the price level decreases, restaurants become busier as more people purchase restaurant meals. 

•          

Foreign-purchases effect

•          

Interest-rate effect

•          

Real-balances effect

Explanation

a. Interest-rate effect: When the price level rises, the demand for money increases, which causes interest rates to rise, resulting in a decrease in investment and consumption spending, thus reducing the aggregate quantity of real GDP demanded. If the cost of borrowing, or the interest rate, increases as a result of a price level increase and people buy fewer cars, it is an example of the interest-rate effect.

 

Determine the effect on aggregate demand for each of the scenarios described below.

 

a. All European countries experience an economic expansion, raising incomes in each of the European countries. This causes:

•          

a decrease in aggregate demand, shifting the aggregate demand curve to the left.

•          

a movement along the aggregate demand curve to the right, indicating an increase in the quantity of real GDP demanded.

•          

an increase in aggregate demand, shifting the aggregate demand curve to the right.

•          

a movement along the aggregate demand curve to the left, indicating a decrease in the quantity of real GDP demanded.

b. The government decides to decrease the amount it spends on the military. This causes:

•          

a movement along the aggregate demand curve to the right, indicating an increase in the quantity of real GDP demanded.

•          

a decrease in aggregate demand, shifting the aggregate demand curve to the left.

•          

a movement along the aggregate demand curve to the left, indicating a decrease in the quantity of real GDP demanded.

•          

an increase in aggregate demand, shifting the aggregate demand curve to the right.

Explanation

a. As foreign countries have higher incomes, those countries will increase spending for all goods and services, including goods and services from other countries. Therefore, they will buy more goods and services from other countries, which are exports for aggregate demand. This increase in spending will increase the amount of goods and services purchased at every price level, causing aggregate demand to increase. An increase in aggregate demand is shown as a shift in the aggregate demand curve to the right.

 

For each of the examples below, determine the effect on aggregate demand.

 

a. In order to reduce the deficit, the government decides to increase the level of taxes in the economy. This causes:

•          

a decrease in aggregate demand, shifting the aggregate demand curve to the left.

•          

a movement along the aggregate demand curve to the left, indicating a decrease in the quantity of real GDP demanded.

•          

an increase in aggregate demand, shifting the aggregate demand curve to the right.

•          

a movement along the aggregate demand curve to the right, indicating an increase in the quantity of real GDP demanded.

b. The economy experiences a sustained expansion in stock prices for the majority of companies in the country. This causes:

•          

a movement along the aggregate demand curve to the right, indicating an increase in the quantity of real GDP demanded.

•          

a decrease in aggregate demand, shifting the aggregate demand curve to the left.

•          

a movement along the aggregate demand curve to the left, indicating a decrease in the quantity of real GDP demanded.

•          

an increase in aggregate demand, shifting the aggregate demand curve to the right.

Explanation

a. When there is an increase in taxes, it causes the amount of disposable income that consumers have to decrease. As income decreases, people will buy fewer goods and services at every price level, causing aggregate demand to decrease. A decrease in aggregate demand is shown as a shift in the aggregate demand curve to the left.

 

The foreign purchases, interest rate, and real-balances effects explain why the ____________.

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Multiple Choice

•          

aggregate demand curve may shift to the left or right

•          

aggregate demand curve is downward-sloping

 

•          

aggregate expenditures schedule may shift up or down

•          

economy will adjust towards equilibrium

 

 

The intersection of the aggregate demand and aggregate supply curves determines the _____.

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Multiple Choice

•          

productivity level in the economy

•          

equilibrium level of real domestic output and prices

 

•          

shape of the aggregate demand curve

•          

per-unit cost of production in the economy

 

 

The labels for the axes of an aggregate supply curve should be _____.

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Multiple Choice

•          

aggregate demand for the vertical axis and real national output for the horizontal axis

•          

real domestic output for the vertical axis and price level for the horizontal axis

•          

real employment for the vertical axis and price level for the horizontal axis

•          

real domestic output for the horizontal axis and price level for the vertical axis

 

 

Use the following graph to answer the next question.

 

 

A shift from AD2 shifts to AD1 would be consistent with what economic event in U.S. history?

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Multiple Choice

•          

cost-push inflation in the mid-1970s

•          

World War II in the 1940s

•          

Great Recession of 2007-2009

 

•          

demand-pull inflation in the late 1960s

 

 

Use the following graph to answer the next question.

 

 

 

If AD1 shifts to AD2, then the equilibrium output increases from _____.

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•          

Q1 to Q3 while the price level falls from P2 to P1

•          

Q1 to Q2 while the price level falls from P2 to P1

•          

Q1 to Q3 while the price level rises from P1 to P2

•          

Q1 to Q2 while the price level rises from P1 to P2

 

 

Use the following graph, which shows an aggregate demand, to answer the next question.

 

 

If the economy is at point C and the price level increases by 100, then the real balances, interest-rate, and foreign purchases effects will _____.

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Multiple Choice

•          

move the economy to point D

•          

move the economy to point B

•          

move the economy to point A

 

•          

shift the AD curve to the left

 

 

 

Which would most likely shift the aggregate supply curve? A change in the prices of _____.

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Multiple Choice

•          

foreign products

•          

resources

 

•          

domestic products

•          

financial assets

 

 

The long-run aggregate supply curve is _____.

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Multiple Choice

•          

vertical

 

•          

horizontal

•          

upward-sloping and becomes steeper at output levels above the full-employment output

•          

upward-sloping and becomes flatter at output levels above the full-employment output

 

 

A decrease in expected returns on investment will most likely shift the AD curve to the _____.

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Multiple Choice

•          

right because Ig will increase

•          

right because C will increase

•          

left because Ig will decrease

 

•          

left because C will decrease

 

The aggregate demand curve shows the _____.

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Multiple Choice

•          

inverse relationship between interest rates and the quantity of real GDP produced

•          

direct relationship between real-balances and the quantity of real GDP purchased

•          

inverse relationship between the price level and the quantity of real GDP purchased

 

•          

direct relationship between the price level and the quantity of real GDP produced

 

 

If at a particular price level, real output from producers is greater than real output desired by purchasers, then there will be a general _____.

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Multiple Choice

•          

shortage and the price level will fall

•          

surplus and the price level will fall

 

•          

surplus and the price level will rise

•          

shortage and the price level will rise

 

A decrease in labor costs will cause aggregate _____.

rev: 06_12_2018

Multiple Choice

•          

demand to decrease

•          

demand to increase

•          

supply to increase

 

•          

supply to decrease

 

Use the following graph, which shows an aggregate demand curve, to answer the next question.

 

If the price level increases from 150 to 250, the real output demanded will _____.

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Multiple Choice

•          

decrease by $600 billion

•          

increase by $200 billion

•          

increase by $800 billion

•          

decrease by $200 billion

 

Use the following graph to answer the next question.

 

 

 

The short-run equilibrium for this economy is at _____.

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Multiple Choice

•          

point e

•          

point g

 

•          

none of these points

•          

point f

 

The aggregate demand curve or schedule shows the relationship between the total demand for output and the _____.

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Multiple Choice

•          

income level

•          

price level

 

•          

interest rate

•          

real GDP

 

The long-run aggregate supply analysis assumes that _____.

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Multiple Choice

•          

both input and product prices are variable

 

•          

input prices are variable while product prices are fixed

•          

both input and product prices are fixed

•          

input prices are fixed while product prices are variable

 

Use the following graph to answer the next question.

 

 

 

Which of the following factors does NOT explain a movement along the AD curve?

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Multiple Choice

•          

The foreign purchases effect

•          

The expenditure multiplier effect

 

•          

The interest-rate effect

•          

The real-balances effect

 

 

Use the following graph, which shows an aggregate demand curve, to answer the next question,

 

 

If the price level decreases from 200 to 100, the real output demanded will _____.

rev: 06_12_2018

Multiple Choice

•          

increase by $800 billion

•          

decrease by $600 billion

•          

increase by $200 billion

 

•          

decrease by $200 billion

 

An aggregate supply curve represents the relationship between the _____.

rev: 06_12_2018

Multiple Choice

•          

price level and the production of real domestic output

 

•          

real domestic output bought and the real domestic output sold

•          

price level that producers are willing to accept and the price level buyers are willing to pay

•          

price level and the buying of real domestic output

 

Which would most likely increase aggregate supply?

rev: 06_12_2018

Multiple Choice

•          

A decrease in personal income taxes

•          

An increase in the prices of imported products

•          

An increase in productivity

 

•          

A decrease in business subsidies

 

 

Which of the following factors does not explain the inverse relationship between the price level and the total demand for output?

rev: 06_12_2018

Multiple Choice

•          

An interest-rate effect

•          

A substitution effect

 

•          

A foreign-purchases effect

•          

A real-balances effect

 

Use the following graph to answer the next question.

 

When output increases from Q1 and the price level decreases from P1, this change will _____.

rev: 06_12_2018

Multiple Choice

•          

•          

result in a movement along the aggregate demand curve from e3 to e1

•          

result in a movement along the aggregate demand curve from e1 to e2

•          

be caused by a shift in the aggregate supply curve from AS1 to AS2

The short-run version of aggregate supply assumes that product prices are _____.

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Multiple Choice

•          

fixed while resource prices are flexible

•          

An increase in expected future income will _____.

rev: 06_12_2018

Multiple Choice

•          

increase aggregate demand

•          

decrease aggregate demand and aggregate supply

•          

increase aggregate demand and aggregate supply

•          

increase aggregate supply

flexible while resource prices are fixed

 

•          

both input and product prices are flexible

•          

both input and product prices are fixed

An increase in expected future income will _____.

rev: 06_12_2018

Multiple Choice

•          

increase aggregate demand

 

•          

decrease aggregate demand and aggregate supply

•          

increase aggregate demand and aggregate supply

•          

increase aggregate supply

 

Which of the following descriptions is most representative of the mix of revenues and expenditures of a local government?

 

Revenue is predominantly from property taxes but may include sales taxes or income taxes. Expenditures include investments in education and public welfare.

 

Which of the following descriptions is most representative of the mix of revenues and expenditures of the federal government?

 

Revenue is predominantly from income taxes and payroll taxes. Expenditures include income security and interest on the national debt

 

 Which of the following is the largest expenditure item of local governments?

 

Education

 

 Which is the most important source of tax revenue for local governments?

 

Property taxes

 

Which of the following is the largest expenditure item of state governments?

 

Education

 

Which one of the following is not an excise tax of the federal government?

 

General Sales tax

 

The circular flow model with government included would show that government

 

 

provides goods and services to businesses and households and pays for them with net taxes.

 

A budget surplus means that

 

 

government revenues are greater than expenditures in a given year.

 

 

 

 How is the public debt calculated?

 

By summing the annual difference between tax revenues and government spending over the years

 

One important reason why the United States government is not likely to go bankrupt even with a large public debt is that it has

 

 

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Create a 15- to 18-slide PowerPoint® presentation including detailed speaker notes in which you include the following:  · Research the direction of monetary policy over ..
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This Tutorial was purchased 19 times & rated A by student like you.

Select an organization that both U.S. and international presences. Write a 1,050- to 1,400-word paper in which you answer address the following:   · What does the&n..
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This Tutorial was purchased 9 times & rated A by student like you.

Select an organization with which the team is familiar. Write a 1,400- to 1,750-word paper in which you include the following:  · Research federal government spending&nb..
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You've been debating on making a purchase for yourself.  This is a product you've wanted for a while, but one that requires budgeting because you will be mak..
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Complete the Macroeconomic Terms Worksheet. Click the Assignment Files tab to submit your assignment. ..
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This Tutorial contains 2 Papers   Select two subjects from the following list of topics and write a 1,050-word analysis: ·  Active monetary and fiscal policy ·  Increased government spending to fight recessions ·  Reducing federal government's discretionary..
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This Tutorial contains 2 Papers     The organization's strategic plan you wrote about in Week 2 calls for an aggressive growth plan, requiring investment in facilities and equipment, growth in productivity, and labor over the next five years.  It is your responsibility ..
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This Tutorial contains 2 Papers   Your organization's CEO is concerned that members of the strategic planning committee are not familiar with current economic thought and principles. The CEO has assigned you the task of developing an 875-word report to introduce some of these thought..
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This Tutorial was purchased 14 times & rated A+ by student like you.

This Tutorial contains 2 Presentations   Select an organization your team is familiar with or an organization where a team member currently works. Create a 15- to 20-slide Microsoft® PowerPoint® presentation that will be presented to the organization's Executive Committ..
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This Tutorial was purchased 5 times & rated A+ by student like you.

This Tutorial contains 2 Papers Select on an organization and a product line or specific product from the Fortune 500 [Use the University Library to locate this list] in one of the following industries: Transportation, Manufacturing, or Housing. The organization’s strategic plan calls for..
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This Tutorial was purchased 4 times & rated A+ by student like you.

This Tutorial contains 2 Papers   Your organization’s CEO is concerned that members of the strategic planning committee are not familiar with current economic thought and principles. The CEO has assigned you the task of developing an 875-word report to introduce some of these thought..
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1. Martha lends $200 to a friend who promises to return it after a year. Instead of lending it to her friend, Martha could have put the money in a bank where she could have earned an interest rate of 2 percent per annum. Martha’s opportunity cost of lending the money is _____.   ..
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Money and the Prices in the Long Run and Open Economies   Purpose of Assignment  Week 3 will help students develop an understanding of what money is, what forms money takes, how the banking system helps create money, and how the Federal Reserve controls the quantity of money..
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ECO 372 Week 1 Worksheet   Complete the Worksheet. Click the Assignment Files tab to submit your assignment. Week 1 Worksheet   Use the information in the table below to calculate Net Exports (NX) and gross domestic product (GDP), in billions of dol..
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ECO 372 Week 2 Worksheet Complete the Worksheet. Click the Assignment Files tab to submit your assignment. Week 2 Worksheet     What are discouraged workers? Are there likely to be more discouraged workers when the economy is booming or when the e..
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ECO 372 Week 3 Team Paper Each team member, other than the Team Leader, should select one of the five topics below. If a team has fewer than 6 members, you may leave off one or more topics so no one has to cover more than one. After selecting your topic and indicating your choice in the Team ..
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ECO 372 Week 3 Worksheet   Complete the Worksheet. Click the Assignment Files tab to submit your assignment. Week 3 Worksheet List and briefly describe the functions of money.   What are the main components of M1 and M2?   ..
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ECO 372 Week 4 Team Paper   ..
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ECO 372 Week 4 Worksheet   ..
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ECO 372 Week 1 Practice: Output, Income, and Economic Growth Quiz  Complete the Week 1 Output, Income, and Economic Growth Quiz in McGraw-Hill Connect®by Day 5. These are randomized questions. Which of the following ly describes GDP using the income approach?GDP = Consumption + Gross..
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ECO 372 Week 1 Apply: Output, Income, and Economic Growth Homework – One Attempt Review the Week 1 Output, Income, and Economic Growth Quiz in preparation for this assignment. Complete the Week 1 Output, Income, and Economic Growth Assignment in McGraw-Hill Connect®. These are randomized ..
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This Tutorial was purchased 11 times & rated A by student like you.

ECO 372 Week 2 Practice: Business Cycles, Unemployment, and Inflation Quiz  Complete the Week 2 Business Cycles, Unemployment, and Inflation Quiz  In each of the following examples, identify whether the individual is experiencing cyclical unemployment, frictional unemployment, s..
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ECO 372 Week 2 Apply: Business Cycles, Unemployment, and Inflation Homework – One Attempt Review the Week 2 Business Cycles, Unemployment, and Inflation Quiz in preparation for this assignment. Complete the Week 2 Business Cycles, Unemployment, and Inflation Assignment in McGraw-Hill Conn..
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Which of the following descriptions is most representative of the mix of revenues and expenditures of a local government?   Which of the following statements about payroll taxes is false?     A tax is regressive if it     Which of the follo..
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Money is:   Use the following table to determine the levels of M1 and M2 in the United States.   Money Categories in the United States   Asset   Amount (billions of dollars) Currency         $82 Deman..
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This Tutorial was purchased 7 times & rated A+ by student like you.

Determine which of the Federal Reserve entities controls each of the following policy tools.   The reserve requirement is determined by the Board of Governors.     b. Open market operations are determined by the: Federal Op..
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This Tutorial was purchased 7 times & rated A+ by student like you.

The existence of lags in designing and implementing fiscal policy helps illustrate some of the limitations of fiscal policy aimed at easing the burdens of a recession.   Which of the following statements best describes a situation when fiscal policy is more appropriate?   ..
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This Tutorial was purchased 7 times & rated A by student like you.

The existence of lags in designing and implementing fiscal policy helps illustrate some of the limitations of fiscal policy aimed at easing the burdens of a recession.   Which of the following statements best describes a situation when fiscal policy is more appropriate?   ..