Describe the steps from the time Bank of Canada lowers the bank rate to the time real GDP and the price level will increase or decrease. In order to earn full marks, each description must fit the correct order of the steps.

Give an example of how a developed country has not provided trade preference to a developing country and therefore as far as GATT/WTO procedures are concerned shows that the developed country is not legally obligated to provide preferential treatment.

Q1: What is the difference between a democracy and a developed democracy? give examples.

Q2: Why is the UK a developed democracy? Give evidence.

Q3: Why is the origin of democracy found in both Greece and Rome, even though Rome is not technically a democracy?

Q4: Why did the UK develop democratic institutions quicker than the rest of Europe?

Q5: Why can presidential systems lead to a greater likelihood of divided government? Give an example.

Q6: Why does the way a parliamentary system is set up distance the people from the executive and make it easier to pass legislation?

Q7: Why do post-modern values and post-industrial economies pose challenges to developed democracies? Give an example of each.

Q8: Why do SMD’s tend to create a two-part system in the governments that implement them?

Q9: Why do PR systems lead to more numerous and more disciplined parties

QUESTION ONE

1. Suppose the income increases from K50, 000 to K60, 000 and as a result consumption increases from K40, 000 to K47, 000 in Zambia. What is the marginal propensity to consume for the Zambian economy?                             [3 Marks]
2. Suppose the value of autonomous consumption is K40 000 and marginal propensity to consume is 0.6, estimate consumption at different levels of income: K0, K100, K200, K300, K400, and K500.                                               [6 Marks]
3. Given the consumption function in (b) above solve for the savings function and estimate savings at the different levels of income provided: K0, K100, K200, K300, K400, and K500.                                                                                          [8 Marks]
4. Fill the blank spaces.                                                                                       [8 Marks]

what is the effective of aviation and maritime in corona virus

in the south asia

The Economic Problem is a fundamental problem of Economics

Write an 800 words essay about this.

Unemployment

How do economists measure unemployment? Why is unemployment not a perfect measure of joblessness? Visit the Bureau of Labor Statistics website and explore the national unemployment rate section. What is the current level of national unemployment? Has it increased or decreased? Explain why the unemployment rate has changed. (You can also talk about COVID-19)

1)

Which of the following combinations of changes in supply and demand (listed in the same order) is likely to cause an indeterminate change in quantity?

Multiple Choice

• Decrease/Decrease

• Increase/Decrease

• Increase/Increase

• Static/Decrease

2)

A government set minimum wage:

Multiple Choice

• imposes a legal ceiling above the wage of the least skilled worker.

• is one of the reasons why price level falls during recessions.

• imposes a legal floor under the wage of the most skilled worker.

• imposes a legal floor under the wage of the least skilled worker.

3)

International specialization and trade:

Multiple Choice

• allow a nation to get more of a desired good at less sacrifice of some other good.

• can allow an economy to circumvent the output limits imposed by its domestic production possibilities curve.

• Has the same effect as having more and better resources.

• All of the above.

4)

Ed, Mike, and Scott are the only three people in a community and Ed is willing to pay $20 for the 5^th unit of a public good; Mike, $15; Scott, $25. The government should produce the 5^th unit of the public good if the marginal cost is:

Multiple Choice

• less than $150.

• less than $100.

• less than $60.

• less than $300.

5)

Answer the question based on the following information. Way-Below Normal University has found it necessary to institute a crime-control program on its campus to deal with the high costs of theft and vandalism. The university is now considering several alternative levels of crime control. This table shows the expected annual costs and benefits of these alternatives. If Way-Below Normal undertakes Level Three:

Multiple Choice

• total benefits will be less than total costs.

• marginal costs will exceed marginal benefits.

• there would be an under-allocation of resources to crime control.

• there would be an over-allocation of resources to crime control.

6)

If a good that generates negative externalities was priced to take into account these negative externalities, then its:

Multiple Choice

• price would decrease and its output would increase.

• output would increase but its price would remain constant.

• price would increase and its output would decrease.

• price would increase but its output would remain constant.

1. Fiscal Policy

What is fiscal policy? Is the President and Congress currently running expansionary fiscal policy or contractionary fiscal policy? Why? Visit the Congressional Budget Office and report a project that could impact the budget (search topics then pick an area that you find interesting and may even talk about the COVID-19 as well).

Which of the following would shift the demand curve for cars to the right?

Group of answer choices

An increase in the federal funds rate

An increase in discount lending by the Fed to banks

An increase in home mortgage interest rates

An increase in the unemployment rate over the NAIRU

originally proposed the use of government spending to stimulate the economy in the 1930s, during the Great Depression.

Group of answer choices

John Maynard Keynes

Franklin Delano Roosevelt

Albert Einstein

Charles H. Chaplin

1. (True or False) Kobe Bryant was a highly paid professional basketball player in the National Basketball Association. From the perspective of the whole NBA, Kobe’s economic rent would be very small, while from the perspective of his individual team it would be very large.

Give an explanation.

1. What is "household production" and how is its value measured?

2. Describe in detail the long-run trends in the value of U.S. household production?

3. If the value of household production were included in GDP, how would this change the growth patterns of U.S. GDP over time?