Economics Questions (Objective Type)

March 8, 20181 Comment

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1. Economics

  • studies human behavior when scarcity exists and choices must be made
  • provides the only reasonable explanation of how people make decisions
  • can accurately explain all human behavior since it is based on the assumption of rationality
  • is better at showing the way things ought to be than the other social sciences are

2. The expression “There’s no such thing as a free lunch” means

  • that even if the lunch is free, we pay for it in extra calories
  • that resources used up in producing the lunch are not available to satisfy other wants
  • the same thing as “The best things in life are free”
  • you have to work before you can eat

3. To say that people make marginal decisions means that

  • they usually wait until the last minute before making a decision to buy
  • they weigh the additional costs and additional benefits of various activities before they make a decision
  • most people just barely get by on the incomes they earn and live from day to day on the very edge of subsistence
  • given a choice, most people would prefer to make their own decisions concerning the things that affect their lives

4. Economic theories are

  • useful because they are as exact as theories in the physical sciences
  • useless because they are based on abstractions
  • useful because they allow us to make predictions
  • too complex to understand because they include all of reality

5. Economists believe that individuals respond in a predictable way to changes in costs and benefits. The term that best describes this belief is

  • rational behavior
  • scarcity
  • demand
  • supply

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Economic Development Indices

February 20, 2018

Economic Development Indices in $9 only

BACKGROUND : All countries are not economically equal. According to the World Bank, countries can be divided up into four categories (see the Introduction PowerPoint for a map of which countries are classified in which categories):

  1. High Income Economies
  2. Upper Middle Income Economies
  3. Lower Middle Income Economies, and
  4. Lower Income Economies

You might also see the use of the terms More Developed Countries (MDC’s) and Less Developed Countries (LDC’s) to differentiate between countries and their level of economic development (this is more politically correct). More Developed Countries are countries like the United States. Less Developed Countries are countries like Somalia.

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Economic Outlook Forecast

September 11, 2017

Economic Outlook Forecast in $29 Only

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. Students will learn how the quantity of money affects inflation and interest rates in the long run, and production and employment in the short run. Students will find that, in the long run, there is a strong relationship between the growth rate of money and inflation. Students will review the basic concepts macroeconomists use to study open economies and will address why a nation’s net exports must equal its net capital outflow. Students will demonstrate the relationship between the prices and quantities in the market for loanable funds and the prices and quantities in the market for foreign-currency exchange. Student will learn to analyze the impact of a variety of government policies on an economy’s exchange rate and trade balance.

Develop a 2,100-word economic outlook forecast that includes the following:
Analyze the history of changes in GDP, savings, investment, real interest rates, and unemployment and compare to forecast for the next five years.
Discuss how government policies can influence economic growth.
Analyze how monetary policy could influence the long-run behavior of price levels, inflation rates, costs, and other real or nominal variables.
Describe how trade deficits or surpluses can influence the growth of productivity and GDP.
Discuss the importance of the market for loanable funds and the market for foreign-currency exchange to the achievement of the strategic plan.
Recommend, based on your above findings, whether the strategic plan can be achieved and provide support.
Use a minimum of three peer-reviewed sources
Format your paper consistent with APA guidelines.

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UC Davis ECON 111A – American Economic History

October 29, 2016

UC Davis ECON 111A – American Economic History in $5 OnlyUC Davis ECON 111A - American Economic History

Homework 1:
Econ 111a American Economic History
Due Wednesday October 26, 2016
Question 1: The American colonies regularly faced a trade deficit in the eighteenth century, but it faced a small balance of payments deficit. Use the following table on the Balance of Payments for the 13 Colonies from 1768–1772 to discuss why this was the case.

Question 2: Greater Productivity is one of the key reasons that income per capita grows over time. Some argue that technological change is the main cause of productivity growth. Discuss whether the productivity growth of shipping in the American colonies supports this view or whether it is a counter-example.

Question 3: Based on the two charts below, does life expectancy appear to be a reasonable proxy for per capita income? Explain. Note: France and United Kingdom are part of Western Europe. In 1700, India had a higher per capita income than the USA. By 2003, incomes in the USA were ten time higher than those in India. What two factors would Douglas North argue explain the difference in Indian and USA development? Name them and briefly explain their importance.

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Identify Linguistic Political Social Economic Status of Four Hispanic Groups

January 5, 2012

Four Hispanic Groups

Identify Linguistic Political Social Economic Status of Four Hispanic Groups

Write a 1,050- to 1,400-word research paper identifying the linguistic, political, social, economic, religious, and familial conventions and/or statuses of four Hispanic groups living in the United States. Your paper should cover Mexican Americans, Puerto Ricans, and two groups of your choice from Chapter. 9 of the text.

  • Dedicate an equal portion of your paper to each Hispanic group.
  • Conclude your essay by summarizing major differences and commonalties apparent among the groups

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