FOR ECON

The COVID virus has had an impact on all facets of our economy. Please discuss the impact it has had on each of the variables below over the net 12 months. Explain if the will increase, decrease, or remain unchanged and the reasoning behind your decision. You do not have to cite the textbook, but all other sources should be cited according to APA format.

1. C (consumption) 2. I (investment) 3. G (government) 4. Imports 5.. Exports 6. Taxes 7. Government budget (T-G) 8. GDP 9. The value of our dollar in comparison to the US dollar. 10 The unemployment rate 11. The supply of money (M1) 12. The prime interest rate

Intermediation fails when (choose one or more)

a) property rights are insecure

b) interest rates are controlled

c) lending is politicized and banks are government owned

d) banks fail and bank panics ensue

Two macroeconomic objectives are maintaining the level of economic growth and level of unemployment

• Identify key problems which may be encountered when the government attempting to balance the level of unemployment and maintain the level of economic growth objectives
• Evaluate the macroeconomic measures, employing fiscal and/or monetary policies, which could be taken to balance these two objectives.

Consider the life-cycle model. The agent has income w only in the first period. The interest rate is r>0 and the utility function of the individual is quasi-linear U(C1,C2)=f(C1)+C2 where f is a function with f'>0 and f''<0. If we establish a tax on capital income, what is it going to happen with savings? Explain your answer

Why is it important to adopt a cost-effective risk management controls

controls

Consider an individual that lives for two periods. She only works in the first period and receives a labor income equal to 200 Euros. Additionally, this individual receives a non-labor income equal to 20 Euros in each period. The interest rate in the economy is 10 %. She can consume in period 1 (c1) and in period 2 (c2). The price of the consumption good is equal to 1 in both periods. The individual has a Cobb-Douglas utility function of the following form: u(c1, c2) = (c1)1/2 (c2)1/2.

Find c1, c2, and private savings in the following cases:

a) A proportional labor income tax of 10%.

b) A proportional income tax of 10% (the same in each of the two periods).

c) A proportional income tax of 10%, in each period, with an exemption in the base of each period equal to 100 Euros (the first 100 euros are not taxed)

d) A labor income tax, in each period, with an increasing rate such that (the first100 euros pay no taxes, the euros between 100 and 150 pay 10%, and the euros above 150 pay 20%):

Base Tax rate

[0 , 100) 0%

[100 – 150) 10%

[150, ∞] 20%

e) A consumption tax, in each period, of 10%

Write a 1,000 word essay on Price Discrimination and Market structure in a Perfect competition system. Proper use of in text citations and references are required.

In a perfectly competitive market, a profit-maximizing firm produces 2000 pounds of butter per week in the long run equilibrium. Answer each of the following questions with two diagrams, one for the butter market and another for the individual butter firm. If the market demand for butter increases …

a) How does it affect the butter market and the individual butter firm in the short run?

b) In the long run, how does the butter market adjust, and what will be the impacts on the individual butter firm?        

Scott is named your new boss at work. When Scott was hired, you were making $50,000 per year. After a year, he decided to give you a 50% raise and you’re now making $75,000 per year.  

From your perspective, economically speaking only, explain under what type of economic circumstance would Scott be considered a very generous boss?  

Under what economic circumstances, from your perspective as the employee, would Scott NOT be considered a generous boss?

How could you explain why Scott could NOT be considered a generous boss if he’s giving you a 50% raise?

Graning v. Capital Area Rural Transportation System (Mallor, 16th Ed., C.P. 10, p. 1445).

Edwin Graning is an ordained Christian minister, who is opposed to abortion on religious grounds. He also worked for the Capital Area Rural Transportation System (“System”) as a bus driver. He did not drive a fixed route; instead, Graning’s bus acted more like a taxi, picking up riders in the nonurban areas around Austin, Texas, at the instruction of a central dispatcher, and delivering them to specified locations. In January 2010, Graning was dispatched to pick up several women and take them to a Planned Parenthood clinic. Graning called his supervisor to inform her that “in good conscience, [I can] not take someone to have an abortion” and that, in taking women to Planned Parenthood, he was concerned that he might be transporting a client to undergo an abortion. His supervisor responded that either he could pick up the women and take them to Planned Parenthood or he could resign. Graning did not want to quit his job, but he refused to drive the women to the clinic. As a result, he was told to drive his bus back to the office. When he arrived there, he was fired.

Base off the case answer True or False (explain why):

The COVID virus has had an impact on all facets of our economy. Please discuss the impact it has had on each of the variables below over the net 12 months. Explain if the will increase, decrease, or remain unchanged and the reasoning behind your decision. You do not have to cite the textbook, but all other sources should be cited according to APA format.

1. C (consumption) 2. I (investment) 3. G (government) 4. Imports 5.. Exports 6. Taxes 7. Government budget (T-G) 8. GDP 9. The value of our dollar in comparison to the US dollar. 10 The unemployment rate 11. The supply of money (M1) 12. The prime interest rate

1. Outline how counter cyclical fiscal policy and balanced budget fiscal policy would close a recessionary gap. Be specific on goals, how each theory would achieve those goals, how they would close the gap, and potential negative effects.   2. According to monetary policy, explain how the Bank of Canada would react to a recession. Be specific on goals, how they would achieve those goals, how they would close the gap, and potential negative effects.

2.According to monetary policy, explain how the Bank of Canada would react to a recession. Be specific on goals, how they would achieve those goals, how they would close the gap, and potential negative effects.

3.Please describe how the PPC curve represents scarcity, choice and opportunity cost.

4.When would a PPC curve be a straight line rather than a curved line?

5.Discuss the differences calculating GDP using the expenditure approach and income approach.

Consider the market for wholesale market for milk in Tasmania in 2019 with a perfect elastic supply curve and downward sloping demand curve. The current equilibrium price of milk is $0.55 is per litre and 950 million litres of milk is bought and sold.

Suppose that in 2020 due to lower feed costs for dairy cows, the price drops to $0.45 per litre.

a. Calculate the change in the price using the cross/mid -point formula. Use the demand elasticity for wholesale milk of ε = - 0.5 to estimate the % change in quantity demanded for wholesale milk in 2020.

b. Use the following formula Q₁= (200% + %∆Q) ÷(200% - %∆Q) Q₀ to show that the quantity of wholesale milk bought and sold in 2020 is 1050 litres.

c. Illustrate in your diagram and calculate the change in the consumer surplus as result of the lower feed costs for dairy cows.

d. Explain why the consumer surplus for consumers of Tasmanian milk has changed?

use CAGE model ( chapter 2) discus the distances between the four BRIC countries

Natural disasters: Suppose a large earthquake destroys many houses and buildings on the West Coast but fortunately results in little loss of life. Show how to think about this event using the IS curve. Explain how actual output, potential output, and short-run output are affected in the short run, and why.