Examine the fundamental causes of a nation’s business cycle fluctuations. Also, examine the relationship between total spending by government and consumers in a nation and the location of the countries’ GDP on the business cycle?

Question 8:   

1. What is the consumer price index used for?
2. How does a rise in consumer price index affect a typical family?
3. What does the “substitution bias” in the consumer price index refer to?
4. What is difference between the GDP deflator and the consumer price index?

Please explain all your reasoning and show all your work (including mathematical formulas).

Question 6:   

Fill in the blank entries in the table. All values are in millions.

Please show all work (including mathematical formulas).

Question 3:                                                                                                             

1. Draw a production possibilities frontier showing increasing opportunity cost for hammers and horseshoes.

2. For what reason are production possibilities frontiers usually bowed outward?

3. On a graph, illustrate the effect of the discovery of a new vein of iron ore, a resource needed to make both horseshoes and hammers, on this economy.

4. On a graph for hammers and horseshoes, illustrate the effect a new computerized assembly line in the production of hammers would have.

Question 5:

The country of Pantherville produces two goods: footballs and basketballs. Below is a table showing prices and quantities of output for three years:

1. Calculate Nominal GDP for Years 1, 2 and 3

2. Using Year 1 as the base Year, calculate Real GDP for years 1, 2 and 3

3. What is the economic growth rate from year 1 to 2 and from year 2 to 3?

4. What is the GDP per capita in Pantherville in years 1, 2 and 3?

5. What is the inflation rate from year 1 to year 2 and from year 2 to year 3?

1. Define GDP.

2. In Canada, many children receive day-care from commercial providers. In parts of Africa, day-care commercial providers are often unknown as children are almost all cared for by relatives. How would this difference affect comparisons of GDP per person?

3. Explain why the HDI might be better than real GDP as a measure of economic welfare.

4. Suppose that Canadian mining companies purchase German-made ore trucks at a reduced price. By itself what will this do to the GDP deflator and the consumer price index?

One of the classic debates in the popular press is whether all buzz or word of mouth—positive and negative—is good for a brand. Some feel that “any press is good press” and that if people are talking, that is a good thing. Others challenge that notion and say the content of the dialogue is what really matters.

Take a position: “All news is good news” and any buzz is helpful for a brand versus. The content of buzz can make or break a brand.

Suppose the wheat market is perfectly competitive. As such which of the following would be true? A. The market will maximize welfare for economic agents. B. The market will provide economic profits to all the sellers. C. The market will maximize consumer surplus and minimize producer surplus. D. All of the other answers are incorrect E. The market will minimize total cost.

Decide American Apparel: Drowning in Debt? A TOW analysis. Please type

1 Perform a TOWS analysis of the company. This should accomplish the following:

2 Identify threats to the organization and opportunities in the external environment that the organization can capitalize on.

3 Identify the strengths and weaknesses in the organization. What does it do well? What could it do better?

Compare the theories of Paul A. Samuelson, J.M Buchanan and M. Olson. Provide your answer with 1500 words and graphs

• Which fiscal policy did U.S. government use during the COVID 19 pandemic? (i.e. expansionary or contractionary fiscal policy). What is the CARES Act passed by the U.S. Congress? What is the purpose of the CARES Act? Explain in terms of economics

What kind of returns to scale does a perfect complements production have? Explain your answer.

Perfect Competition:

The Copy Center specializes in high-volume printing and color copying for small businesses. This is a fiercely competitive market. The following relation exists between output and total production costs:

What is "Government" and how is it different than "Politics?" Also, What is the difference between Democracy and Republic--as a form of government? Please be specific and answer in paragraphs