What is The "Current Macroeconomic Situation" In the U.S. (e.g. is The U.S. Economy Currently Concerned about Unemployment, Inflation, Recession, Etc.)? What Fiscal Policies And Monetary Policies Would Be Appropriate At This Time?

Could we ever achieve an unemployment rate below full employment? What problems might we encounter if it did.

Generally, the use of trade policies that disrupt free trade is predicted to bring down the overall welfare of the imposing country. However, there are some cases where the opposite is predicted/argued. List as many of such cases as possible with the reason(s) behind such prediction(s)/argument(s).

Suppose the U.S. government announces that it will bring the federal budget deficit to zero, over the next ten years, with no change in tax rates. Describe the effects of such a policy according to the three business cycle models, assuming that the policy is fully credible

Describe the history behind the first three Texas constitutions.

1. You have just been employed by a firm that is operating under a “perfectly competitive” environment and also with the following relevant market information: --

Current market price per unit is $15 (NOTE: this is also the firm’s marginal revenue, MR)

TC = 0.5Q2

MC = Q

a) Using profit maximizing quantity level at 15, what is the firm’s TR?

b ) What is the firm’s TC using the same profit maximizing quantity level as a above?

c. What is the firm’s total profit?

3. Given the following information and formulas of a firm operating under a “monopolistically competitive” environment:

TC = 3Q3 - 18Q2 +30Q + 50, in which TC is sum of TVC and TFC

TVC = 3Q3 - 18Q2 + 30Q ; TFC = 50

MC = 9Q2 – 36Q + 30

AVC = TVC / Q

a. In the space below, compute quantity Q2 (HINT: To compute Q2, you will need to mathematically equate MC and AVC together and then solve for Q).

b. Compute P2 which is the lowest price below which the company must shut-down.

Case Study

You work as a Change Manger for ABC Company. In this project you are required to demonstrate your skills and knowledge through identifying change requirements and opportunities, developing a change management strategy, and implementing a change management strategy. You can demonstrate evidence of your planning by providing the communication strategy and action plan to ensure consultation and participation, stakeholder analysis, risk treatment action plan, a work breakdown analysis, a responsibility assignment matrix and a project schedule. Read the instructions below and answer all the questions.

You receive an email from the Business Operations Manager at ABC Company.

As you may be aware, the current financial standing of the organisation is little less than satisfactory. We have faced various issues over the past 3 months and have been unable to make a recovery. I believe that change is inevitable at ABC, so we are delighted to have you on board and hope that you will lead the way for ABC during this necessary period of change.

You need to consider how you will work and communicate effectively with other departmental managers and the human resources department to develop a corporate culture that accepts your proposed change.

Please start by examining the key points from the business report that follows and report on your proposed changes. Prior to commencement you may want to ask yourself the following:

• What is the change?
• Why is the change being made?
• How is the change going to affect ABC?
• How will you prevent change from challenging ABC’s ability to create value and regain relevance?
• How will you lead, manage and sell change effectively?

In the ABC Company Business Report, the key points are:

• Over the past 3 months, ABC has lost several of its key managers. This has had a serious effect on the corporate culture.
• Executive management have not yet found qualified replacements for these managers. Instead, they have been hiring unqualified trainees to cut further operational costs.
• Competitors have begun to take market share and ABC has not implemented the required changes to products and services to stay relevant in the market. As a result, ABC is finding it very difficult to stay competitive.
• New technologies have been purchased but not yet implemented throughout the organisation because the required training has not been organised. As a result, resources are either lacking or not being used effectively.
• As a result of the financial standing, cost cutting has been inevitable. This has been very emotionally taxing on staff and ABC has had to sublet part of its office space.
• Due to the business downturn, ABC has been left with no other option but to introduce the Lean Manufacturing System. This has significantly impacted the way the company orders raw materials, which has created issues with the shipping and receiving schedule.
• Manufacturing habits require a redesign in the manufacturing division as a consequence.
• Staff morale and productivity are at record lows. Management intervention is vital in maintaining time lines and ABC milestones.
• The ABC vision statement is outdated and does not reflect current situations.

You are required to answer all the questions below.

1. Conduct a change readiness assessment:

1. Explain what methods you would use to gather information relating to the change readiness of the organisation
2. Conduct a force field analysis and provide a summary of the driving and restraining forces for change
3. Provide a list of strategies to increase the driving forces and reduce the retraining forces.

2. Develop the change vision statement and identify the methods you will use to communicate the vision to motivate staff.

3. Formulate the change strategy, identifying the guiding principles and high-level or broad tactics to realise the benefits of the change.

In grievance procedures, which type of arbitrator do you predict will be most effective at resolving disputes? What characteristics should that arbitrator have?

1. How might conditional cash transfers operate to reduce or eliminate inter-generational poverty traps?  Give at least three mechanisms.

The Covid-19 coronavirus first struck in Wuhan, the capital of China’s Hubei province, at the end of 2019. It quickly spread beyond Asia. The policy responses have mostly been lockdowns of varying intensities and durations. Though there have been many national and even international curfews in the past, perhaps most prominently during the Second World War, there are no examples of lockdowns on a global scale deployed to counter the spread of disease. It is wholly novel to force significant proportions of the populations of the major world economies to stay at home, and mostly indoors. An important observation by economists is the interplay of demand and supply for personal protective equipment (PPE). With relevant facts and figures, you are required to
1. Identify and explain 5 determinants of demand for PPE.
2. Discuss 5 determinants of PPE supply.
3. Explain any two consequences of a shortage in the supply of PPE.

Briefly discuss the rise of the gig economy in Australia and which firms dominate?
Who are the main players (e.g. Uber, AirB&B, etc.) How did these firms get so big so quickly? How many people in Australia are employed in this sector?

Discuss one benefit and one drawback of a gold based monetary system.