1. Minsky:

   • After reading the two chapters on Minsky, what is his major contention regarding the dynamics of the financial system and how it relates to the macroeconomy?

   • Do you see Minsky's ideas as relevant to the 2008 crisis? What about the current CoVID-19 crisis?

   • What was Minsky's approach to "welfare" vs. employment programs? What would his policy suggestion be today?

Consider US and China who can both produce soya beans and mobile phones. In a year, the US can produce 80 billion tonnes of soya beans or it can produce 400 million mobile phones. In a year, China can produce 50 billion tonnes of soya beans or it can produce 400 million mobile phones.

Question 1
a. Explain which country has the absolute advantage in soya beans production and

which country has the absolute advantage in mobile phone production?

Question 2

b. What is the US’ opportunity cost of producing 1 billion tonnes of soya beans? What is China’s opportunity cost of producing 1 billion tonnes of soya beans? Explain which country has the comparative advantage in soya beans production?

Question 3
c. Explain which country should specialise in soya beans production and which

country should specialise in mobile phone production?

Question 4

d. What is the maximum (in terms of tonnes of soya beans) that the US would be willing to pay for China’s mobile phones? What is the minimum (in terms of tonnes of soya beans) China would accept for its mobile phones? Will they trade and if so, which country benefits from the trade?

Instructions: Use the 6 step rational choice decision making process (Attached) to make a decision about the following issue.

Abdulla is in charge of scheduling the work for the service department of a car dealership. Recently, many of the sales representatives have been taking phone calls from their regular customers, and promising that their car repairs can be completed on certain days or at certain times. Things are not going well, and today it seems like everyone is unhappy – the sales representatives, the service technicians, the customers and Abdulla. Analyze the steps that Abdulla can take to correct the problem.

Explain in 300 words RM Williams (industry) background?

Discuss the evolution of the U.S current account deficit and net foreign assets: how much of the evolution of the deficit (as a share of GDP) is due to changes in private savings, public savings (fiscal deficits) and investment rate (all as a share of GDP) and how much has the role of different factors changed over time? - Based on this analysis, are the U.S. current account and external debt sustainable? Does the U.S. differ or not from emerging markets or not and why?

This chapter introduced you to both parliamentary and presidential systems. In some cases, a country has both types of systems, making it a hybrid. Use Google search to identify some of the countries that have a hybrid system of government. Choose a country of your choice and research whether the hybrid system is working in that country. Is it successful? Why or why not?

Describe the differences between social e-commerce websites such as Groupon and online retailers such as Amazon. Describe them in detail.

Question 1

Why are government purchases assumed to be autonomous?

Question 2

hich term refers to workers who are overqualified for their current jobs or can find only part-time work?

Question 3

Which of the following would shift the long-run aggregate supply curve to the left?

Question 4

Which of the following would result from an increase in planned investment?

Question 5

Which of the following would directly reduce GDP?

Question 6

Which of the following would NOT occur if the price level changes?

Question 7

Which of the following would NOT increase Canadian GDP?

Question 8

Which of the following will allow monetary policy to be most effective in changing aggregate demand?

Question 9

Which of the following transactions is NOT included in GDP?

Question 10

Which of the following occurs simultaneously with a higher price level and leads to stagflation?

1. give an intuitive explanation of how the Gini coefficient and Lorenz curve is measured and what we can learn about income inequality from it. (For example: What do the larger and smaller values of this measure mean? Which parts of the income distribution do this measure use?)

In an open​ economy, if the United States government were to purchase computer​ paper; according to the crowding out​ effect,

A.

the​ government's purchase of computer paper means they can not purchase new telephone systems.

B.

there would be less paper available for consumers to use resulting in either a decrease in paper exports or an increase in paper imports.

C.

the government restricts the sale of all paper that is not bought directly from the government.

D.

there will be no impact on consumer spending.

Consider the quantities supplied of fanny packs at two different prices for three different time horizons:

(a) (i) Calculate the price elasticity of supply of fanny packs for Time A.

(ii) Is the supply of fanny packs at Time A perfectly inelastic, inelastic, unit elastic, elastic, or perfectly

elastic?

(b) (i) Calculate the price elasticity of supply of fanny packs for Time B.

(ii) Is the supply of fanny packs at Time B perfectly inelastic, inelastic, unit elastic, elastic, or perfectly

elastic?

(c) (i) Calculate the price elasticity of supply of fanny packs for Time C.

(ii) Is the supply of fanny packs at Time C perfectly inelastic, inelastic, unit elastic, elastic, or perfectly

elastic?

(d) Based on your solutions to Parts (a), (b), (c), which time horizon would expect to represent the shortest amount of time? Time A, Time B, or Time C? Explain your answer in your own words.

(e) Based on your solutions to Parts (a), (b), (c), which time horizon would expect to represent the longest amount of time? Time A, Time B, or Time C? Explain your answer in your own words.

• How can the long-run average cost (LRAC) curve be derived from the short-run average total cost (SRATC) curve?
• Describe economies of scale and diseconomies of scale.
• What are the determinants of economies of scale and diseconomies of scale, respectively?
• Using a real-world company (other than Sysco), explain the causes of economies of scale for your company.
• How would economies of scale help your company compete in its industry?

1. Research shows that after-school jobs are highly correlated with decreases in grade point averages. Those who work 1 to 10 hours get a 3.0 GPA and those who work 21 hours have a 2.7 GPA. Higher GPAs are, however, highly-correlated with higher lifetime earnings. Assume that a person earns $8,000 per year for working part-time in college and that the return to a 0.1 increase in GPA gives a 10 percent increase in one's lifetime earnings with a present value of $80,000.
   • What would be the argument for working rather than studying harder?
   • Is the assumption that there is a trade-off between working and grades reasonable?

Your essay must be written concisely and not exceed 700 words.

1. Monetary policy can be a useful tool for macroeconomic management. Using relevant diagram(s), show and discuss the possible impact of recent interest rate cuts on output, inflation and unemployment.