1. Explain why seniors often earn lower grades in their last semester before graduation (hint: incentive problem).
2. Analyze the difference between macroeconomics and microeconomics (written response). Determine whether each of the following is primarily a macroeconomic issue or a microeconomic issue (answer only).
A) What price to charge for a TV
B) Tax reform on total consumer spending in the economy
C) Your family's decisions about what to purchase
D) A contractor's decision regarding how much to work each week
E) Government policy to increase employment
3. What is the difference between a positive economic statement and a normative economic statement? Determine whether each of the following is primarily a positive economic statement or normative economic statement:
A) The current unemployment rate is below 4% in 2018
B) The inflation rate in the United States is too low
C) The Government should increase the minimum wage
D) U.S. trade restrictions cost consumers $125 billion annually
1.Seniors tend to obtain lower grades in their final semester of school because to them, the advantage of working hard & obtaining high grades for that single semester isn’t greater than the cost of applying the effort. There is usually no incentive to persuade seniors to work hard in their final semester, as it’s likely not going to alter the result of their graduation. This is an instance of marginal thinking.
2. Microeconomics studies economics at an individual level/ group level / firm level. Macroeconomics, in contrast , is the study of the entire national economy. Microeconomics concentrates on concerns which impact individuals & firms.
a)Microeconomics
b)Macroeconomics
c)Microeconomics
d)Microeconomics
e)Macroeconomics
1. Explain why seniors often earn lower grades in their last semester before graduation (hint: incentive...
1. Analyze the difference between macroeconomics and microeconomics (written response). Determine whether each of the following is primarily a macroeconomic issue or a microeconomic issue (answer only). A) What price to charge for a TV B) Tax reform on total consumer spending in the economy C) Your family's decisions about what to purchase D) A contractor's decision regarding how much to work each week E) Government policy to increase employment 2. What is the difference between a positive economic statement...
You will be evaluating each of the questions as you will need to make sure to use relevant economic terms and content development in your work. REMEMBER TO WRITE THE QUESTION FIRST AND THEN PROVIDE YOUR RESPONSE. Questions: 1. Why does comparative advantage matter more than absolute advantage for trade? 2. Draw a production possibilities frontier curve. Illustrate the set of points that is feasible, the set of points that is efficient, the set of points that is inefficient, and...
Explain why seniors often earn lower grades in their last semester before graduation (hint: incentive problem).
4. Analyze the difference between macroeconomics and microeconomics (written response). Determine whether each of the following is primarily a macroeconomic issue or a microeconomic issue (answer only). A) What price to charge for a TV B) Tax reform on total consumer spending in the economy C) Your family's decisions about what to purchase D) A contractor's decision regarding how much to work each week E) Government policy to increase employment
5. What is the difference between a positive economic statement and a normative economic statement? Determine whether each of the following is primarily a positive economic statement or normative economic statement: A) The current unemployment rate is below 4% in 2018 B) The inflation rate in the United States is too low C) The Government should increase the minimum wage D) U.S. trade restrictions cost consumers $125 billion annually
1. Does the phrase "unlimited wants and limited resources" apply to both a low- income household and a middle-income household? Can the same phrase be applied to a very high-income household? 2. In a single sentence, contrast microeconomics and macroeconomics. Next, categorize each of the following issues as a microeconomic issue, a macroeconomic issue, or not an economic issue. a. The national unemployment rate b. The decision of a worker to work overtime or not c. A family's choice to...
Required: 1. What is the amount of Apple’s accounts receivable as of September 30, 2017? 2. Compute Apple’s accounts receivable turnover as of September 30, 2017. 3. How long does it take, on average, for the company to collect receivables for fiscal year ended September 30, 2017? 4. Apple’s most liquid assets include (a) cash and cash equivalents, (b) short-term marketable securities, (c) accounts receivable, and (d) inventory. Compute the percentage that these liquid assets (in total) make up of...