List the six economic functions of the United States Government and explain each using a brief statement.

3 If a researcher is using data that are low in cost and save time, which type of data is this likely to be?

Short Answer. Be thorough and clear in your answers. There are two parts A and B, so please identify your answers with an A and B.

Suppose that during this current coronavirus-caused recession with high unemployment rates and lower incomes, consumers choose to buy more generic food products and fewer brand name food products. (Assume the prices of the generic and brand name products did not change during this time).

A. Explain which good (generic or brand-name) is inferior and which good is normal.  Be sure to fully explain how you determined this answer (hint: definitions of these are in Ch. 4).

B.  Identify which elasticity measurement would be used to determine inferior and normal goods. Explain the formula and state what result you would expect for the brand name and the generic good, given your answer to part A. (i.e. positive number or negative number). [Hint: the more detailed (and correct) the answer, the better.]

An investor pays $1,230 for a bond with a face value of $1,000 and an annual coupon rate of 9 percent. The investor plans to hold the bond until its maturity date in eight years. The bond has a yield to maturity of __________ percent. (Note: This question requires a financial calculator.)

Julia Chen just purchased a $1,000 face value bond for $987. The bond pays $50 in interest every six months and matures in five years. The yield to maturity for this bond is __________ percent. (Note: This question requires a financial calculator.)

Explain Backward Induction Method and Extensive Form of Game through relevant examples.

A firm rents light bulbs to consumers. The firm covers the cost of the light bulb and replacing it every time it burns out. The interest rate is 14%. The cost of producing a light bulb is √N where N is the number of years the light bulb lasts.
What is the firm's present value cost of providing a lightbulb to a consumer and replacing it everytime it burns out forever? Using light bulbs that last 10 years.

Consider two identical firms competing as Cournot oligopolists in a market with demand p(Q)=100-0.5Q. Both firms have total costs,TC=10q where 10 is the marginal cost of production. ( Here Q represents total output in the market whereas q represents firm level output.)

(b)   Now assume that the firms collude. They again play a one-shot game. What is the output that each firm should produce in order to sustain the collusion? Find the market price, and profits of each firm. Are their profits higher when they collude than when they compete as Cournot oligopolists?

Can someone answer all of the following questions

Question 3 (Value = 4)

Briefly explain the difference between expansionary and contractionary fiscal policy. Describe recent government actions in these terms.

Question 4 (Value = 6)

Public debt is the total amount owed as a result of past borrowing. In the context of this course, why does public debt exist. Is public debt a god thing or a bad thing?

Bonus Question (2)

The Bank of Canada recently dropped the overnight rate to 0.25%. Using your textbook and the class presentation material, briefly explain why the BOC has done this and what the expected impact will be.

Discuss the mechanisms through which monetary policy affects stock prices and aggregate demand. Please be specific about the channels/theories.                                                             

1. Budget deficits will (increase, decrease, or have no effect on)  the exchange rate value of the dollar.

2. Suppose that the government provides each taxpayer with a $1,000 tax rebate financed by issuing additional Treasury bonds.

Keynesian economists believe that this fiscal action will (increase, decrease, or have no effect on) aggregate demand, output, and employment, whereas economists who believe in crowding out argue that financing fiscal action by borrowing will (increase, decrease, or have no effect on) interest rates and (increase, decrease, or have no effect on) private investment, weakening the expansionary impact.

3. Did the shift of the federal budget from deficit to surplus during the 1990s weaken aggregate demand?

A. It weakened aggregate demand, but did not slow down the growth of the economy.

B. It weakened both aggregate demand and the growth of the economy.

C. It occurred without weakening aggregate demand, but did slow down the growth of the economy.

D. It occurred without weakening either aggregate demand or the growth of the economy.

1. Explain the meaning of inflation and deflation with relevant examples

2.Explain the cost of inflation with relevant examples

3. Explain the causes and effects inflation and deflation with relevant examples