1.1 Each entry-level Economics undergraduate in Glasgow, Scotland, has either high or low ability. All potential employers value a high-ability worker at £18,000 per month and a low-ability worker at £9,000 per month. The supply of high-ability workers is ?? ? = 0.05(? − 2,000) and the supply of low-ability workers is ?? ? = 0.1(? − 2,000), where ? is the monthly wage.

If workers’ abilities are observable to employers, what are the equilibrium wages? How many workers of each type do employers hire? If employers do not observe workers’ abilities, what is the equilibrium wage? How many workers of each type do employers hire? What is the deadweight loss due to asymmetric information?

1. EXCHANGE RATES: AUSTRALIAN DOLLAR (AUD) [15 marks]
   1. Consider the following hypothetical (separate) events from December 2020 to December 2021:

1. Speculators are seriously concerned about long-term effects on the Australian economy of the coronavirus.
2. India and China increase their demand for Australia’s metals such as iron ore and lithium.
3. US Federal Reserve lowers the US cash rate from 1.50% to 0.50%, while the Reserve Bank of Australia raises its cash rate from 0.50% to 1.00%.

For each event, identify the specific factor and explain the likely effect on the price of the Australian Dollar (AUD) in the foreign exchange market. Use a relevant demand and supply for AUD diagram in each of your answers.

                                                                                               [9 marks]

1. b.Suppose in Australia the AUD in 2020 strongly depreciated against major currencies. Is there likely to be a contractionary or expansionary effect on the Australian economy from the depreciation of the AUD? Explain your answer.

                                                                                               [3 marks]

c) Discuss the likely effects a large appreciation of the AUD would have on: (i) consumers travelling overseas; (ii) wheat exporters; (iii) import-competing Australian firms such as manufactures. [3 marks]

Assume that effective forecasting requires a combination of technique, system support, and administration. Your supervisor in your consumer products firm has requested that you identify some initiatives to enhance forecast accuracy. What specific initiatives would you recommend for consideration regarding the technique, system support and administration components?

1. GDP, UNEMPLOYMENT and FISCAL POLICY [15 marks]

1. Describe the relevant criteria that government statisticians use in Australia to determine whether a person is ‘unemployed’. Describe two ways in which the current method of calculating official ‘unemployment rate’ in Australia has been criticised for underestimating unemployment.  

                                                                                                   [3 mark]        

2. Identify whether there is likely an increase or decrease in measured Australian GDP in the following scenarios and discuss whether GDP is a ‘good’ measure of progress in each case:

1. a major increase in the extraction of coal to meet electricity demands of Chinese firms;
2. a large increase in the proportion of employed people volunteering (i.e. spending quality time, unpaid) with the poor and unemployed;
3. a sharp rise in the rate of theft (e.g. break-ins) of households and businesses.

                                                                                         [6 mark]

3. Suppose Britain’s formal departure from the European Union in 2020 results in some significant structural challenges to the British economy. The following hypothetical data show the state of the British economy from December 2020 to December 2021:

• the Consumer Price Index (CPI) falls from 110 to 100
• the underemployment rate rises from 4.7% to 10.1%
• real GDP per capita growth rate falls from 2.0% to -0.2%

Explain the phases of the business cycle the British economy is likely to be experiencing from December 2020 to December 2021. Provide specific reasons for your answer. Use a well-labelled AD/AS diagram to show the position of this economy in December 2021. Explain whether the British government should use expansionary or contractionary fiscal policy to move the economy back to the long run, full-employment GDP equilibrium. Draw the AD curve shift(s) associated with this policy on your diagram.

                                                                                                    [6 marks]

COVI-19 is anticipated to affect global food and trade. Using illustrations from two countries within the West Africa sub-region, examine how COVID-19 can exacerbate food insecurity in these countries; and suggest measures to mitigate any food crisis.

What, if any, negative side effects are associated with Terry stops?

How may the Fed's bond-buying program and purchases influence short-term and longer-term bond yields?

MBA 5010 Week 3 Weekly Integrative Assignment

Copper and zinc work equally well as a chemical catalyst to mitigate pollution created in the production of lithium batteries. However, copper is currently 10% more expensive than zinc. And so, zinc is the current preferred material. The following diagrams represent the copper, zinc, and lithium battery markets.

However, some recent advances in pharmaceutical research have substantially increased demand for zinc in pharmaceutical manufacturing.

Using this example, explain how markets see to the most appropriate allocation of resources between competing uses. Limit your response to no more than 500 words. Be sure to include in your response the preceding diagrams, demonstrating the relevant change in each respective market. You may use Word drawing features or draw the diagrams, use your phone to capture them, and then insert them into your response. If you need help, ask. Your answer will be evaluated based on correctness, completeness, and clarity. Be attentive to your writing.

Discuss some meausres that the goverment of Ghana can put in place over the medium-term horizon (next 5 years) to improve water security to prepare for a potential increase in disease outbreaks and pandemics.

What is the meaning of consumption as it relates to the cultural context of valentines day

(Economic & Ploitical Philosophy) Why is “Politics” important to aid our understanding of Aristotelian thinking? Give two examples of how the ideas in that document are relevant to today.

Adam Smith believed that the Invisible Hand would work through markets to "stabilize" the economy. Describe three examples where you think the Invisible Hand and people's faith in the market does not hold. Discuss the inefficiencies that, in your opinion and analysis, are present and why we aren't in the production possibilities curve

from book economics for healthcare managers by Robert H Lee

1. What sort of incentives does pure volume-based payment create for providers?
2. What sort of incentives does a mixed payment model create for providers?
3. What sort of incentives does pure salary create for providers?

Define the meaning of deregulating an industry and give a brief explanation as to why the government might regulate an industry in the first place

Find a recent article (less than one month old) from a reputable news source concerning a Free and Fair Trade issue between at least two countries.

• Summarize the article.
• What is the issue?
• Explain why this issue is important to the global community.
• Evaluate the source.
• What is your opinion?