Scenario: Your organization's CEO is concerned that members of the strategic planning committee are not familiar with current economic thought and principles. The CEO has assigned you the task of developing a report to introduce some of these thoughts and principles.

Develop a 1,050-word report to the members of the strategic planning committee explaining the following information:

How economists are both scientists and policymakers and what process society uses to allocate its scarce resources.

Using the circular flow model, explain the flow of money and goods in an economy.

How does the economy coordinate society's independent economic actors.

A country's gross domestic product (GDP) and how it is defined and calculated.

How the consumer price index (CPI) is constructed and why it is an imperfect measurement of the cost of living.

Format the assignment consistent with APA guidelines.

Answer the following essay questions:

1.Facing with the changes of economic environment due to the outbreak of coronavirus, the CEO of Samson Corporation, a famous machinery manufacturer, is thinking about costs cutting. You are the CFO of the corporation and are required to give suggestions. Please list five ways from different dimensions in cost cutting and explain in detail.

2.You are the CEO of a car manufacturer which is facing a declining demand of its products. A consultant suggests that the implementation of quality concepts will increase product demand. What do you think? If your answer is yes, discuss the relationship between quality and product demand; if your answer is no, give reasons to support your answer. What do you think the relationship between quality and production cost? Explain.

A new gold mine operated by Viper Resources is scheduled to begin operations in November 2020. The company has developed a stakeholder engagement plan which identifies the mine's most important external stakeholder groups and the main concerns of each stakeholder group.   This strategy is best explained by which theory?

At the end of 2019, Splish Brothers Inc. has accounts receivable of $778,100 and an allowance for doubtful accounts of $63,200. On January 24, 2020, the company learns that its receivable from Megan Gray is not collectible, and management authorizes a write-off of $7,400.

1) Prepare the journal entry to record the write-off.

2) What is the cash realizable value of the accounts receivable (1) before the write-off and (2) after the write-off?

THE GAP INC.

1. (*) Compare the company’s cash position (The Gap Inc) for the year under review with that of the previous year (2020/2019). 2. Comment on the improvement or deterioration of the company’s cash position. 3. (*) Which method (direct or indirect) did the company use in the preparation of its statement of cash flows? 4. (*) State the main sources of cash inflow during the year and the main uses to which cash has been used.

Despite the ongoing trade war, China is one of the U.S.’s most important trading partners. (Consider how many goods are “Made in China”). What might happen to the value of the U.S. dollar, the U.S. economy, and the trade relationship between the two countries if China was experiencing unusually high inflation?

Your response should be approximately 2-3 brief paragraphs.

1) List the components of GDP in the output (expenditures) approach.

2) Please calculate the growth rate based on the following information:

U.S. GDP 2019 = 19.1 trillion dollars

U.S. GDP 2018 = 18.8 trillion dollars

U.S. GDP 2017 = 18.5 trillion dollars

What is the growth rate between 2018 and 2019?

What is the growth rate between 2017 and 2019?

There are some politicians in the U.S. Congress that believe the Federal Reserve should be less independent from the U.S. government. Some say this would be a disaster for the U.S. economy. Do you agree or not with those who seek to reduce central bank independence? Why? Explain your answer in a comprehensive way, providing any data available and making reference to studies available on this issue.

1. Do you consider the Hispanic market in the U.S. different from or similar to other markets in the U.S? WHY? Explain your answer utilizing economic, social, political, cultural and/or historical arguments.
2. How adaptive have to be, if any, TV broadcasting, radio broadcasting, print media, and social media for Hispanic markets in the U.S.? WHY? Provide credible arguments in support of your answer.

Question 2

(a) Analyse what triggered President Trump in the U.S. in 2018 to impose protectionisitic tariffs on China, Mexico, Canada and the European Union.

(b) Discuss, with an appropriate diagram, how the U.S.-China trade war led to economic inefficiencies.

(c) Discuss how China as the Factory of the World is based on its comparative advantage while the U.S. loses its competitiveness.