Identify and discuss two (2) measuring techniques/graphs/or ?’s that provided a good, concise representation of a complex idea or discussion.

Micro Economics chapter 7

Term Paper Requirements for “New Economy” Chapter Reading

Identify and discuss in your words three (3) major analysis/discussions that were introduced in your chapter.
– Why did you like them?
– Are they relevant to today’s current issues?
– Explain how each identified analysis/discussion utilized two or more of the five key principles of economics which were outline in the first four chapters of your textbook.
Identify and discuss two (2) measuring techniques/graphs/or ?’s that provided a good, concise representation of a complex idea or discussion.
Identify and discuss in detail three (3) major conclusions that are made by the chapter.

What is your favorite chapter and why?What is your least favorite chapter and why?

The book is called “Depression, War and Cold War Challenging the Myths of Conflict and Prosperity” by Robert Higgs. The review must be divided in the following sections:
1. Introduction: What is the book about and its main lesson
2. What is your favorite chapter and why?
3. What is your least favorite chapter and why?
4. Current events applications
Needs to sound smart, but not to smart. Must use some macroeconomics words. Needs to be 12 pt. font and in times new roman.

Demonstrate an understanding of the impact on the entire economy, based on any changes in taxes required, if the government is to purchase any extra product that is not sold to consumers.

In a perfectly competitive market, the equilibrium price and quantity represent the most efficient operation of that market. Optimum efficiency means that 1) sellers cannot be made better off without, at the same time, making buyers worse off, and 2) that buyers cannot be made better off, without making the sellers worse off. This assignment presents a scenario in which a government tries to improve the financial position of the sellers, in such a perfectly competitive market, by instituting a legal price floor that is significantly above the equilibrium price. A price floor is the lowest price for which a seller can legally sell the product.

You will focus on calculating the consumer surplus, producer surplus, and total surplus both before a price floor is established and after a price, the floor is enacted. You will also demonstrate an understanding of the impact on the entire economy, based on any changes in taxes required, if the government is to purchase any extra product that is not sold to consumers.

Is the American Dream like the mythical Phoenix rising from the ashes? Your take?

Housing Starts after suffering their worst collapse in decades appeared to have bottomed out several years ago and once again began recovering. Since the onset of the pandemic this trend reversed initially as the economy went into lockdown, but the sector now seems to be mounting a slow recovery. Although housing is still in short supply, mortgage rates are now lower than at any time in the past half century – a boon to those considering buying a home. Is the American Dream like the mythical Phoenix rising from the ashes? Your take?

See the links below for some useful background.

https://tradingeconomics.com/united-states/housing-starts
https://nationalmortgageprofessional.com/news/75268/housing-starts-higher-projected#:~:text=The%20U.S.%20Census%20Bureau%20and,934%2C000%2C%20but%2023.2%25%20below%20the
https://www.washingtonpost.com/business/2020/06/18/mortgage-rates-plunge-record-lows/
https://www.marketwatch.com/story/mortgage-rates-hit-another-all-time-low-as-home-buyers-rush-to-secure-cheap-financing-2020-05-28
https://www.washingtonpost.com/business/2020/07/27/housing-inequality-coronavirus/

Explain how the average total cost of a new output level is affected by its share of fixed costs and variable costs.

In this assignment, you will define and calculate the remaining six major cost elements of a business, when given the total costs and the quantity produced. You will also use the computed costs to determine a minimum cost output level for that business. Finally, you will clearly explain how the average total cost of a new output level is affected by its share of fixed costs and variable costs.

What is the basic structure of our system and how does it compare to other industrialized nations in terms of outcomes and costs?

Market Focus: Healthcare in the United States

One of the most critical and hotly debated industries in the United States is healthcare. For this paper, you will examine the state of health care in the United States. As a starting point, you should read chapter 24 of the text and then after conducting your own research write a 2-3 page paper that examines the following aspects of health care in the United States:

1. How much is spent on health care in the United States annually?

2. What is the basic structure of our system and how does it compare to other industrialized nations in terms of outcomes and costs?

3. What are some unique challenges that health care presents from a consumer standpoint?

4. What have been some interventions by the government to make healthcare more accessible and affordable to the public and what have been the outcomes?

5. Do you think that the Singapore model could be replicated here? Why or why not?

6. What impact do you think the Covid-19 outbreak of 2020 have on healthcare delivery  in the United States?

Describe the business cycle; identify the primary measure of unemployment and define “full employment”; identify the primary measure of inflation and distinguish between demand-pull and cost-push inflation.

Unit 5: Assignment – Core Assessment Part 2 of 3: Macroeconomic Analysis of a Pandemic – COVID-19, Economic Growth, and Unemployment

Introduction
The COVID-19 pandemic wreaked havoc on the global economy in an unparalleled fashion. Each step of this three-part core assessment will challenge you to apply key macroeconomic theory concepts to this real-world case study (that we all lived through). In this unit, you are tasked with looking at the global macroeconomic impact of COVID-19 on key indicators such as GDP and the unemployment rate.

Define Gross Domestic Product , and identify the four expenditure categories in the equation GDP = C + I + G + Xn; identify the measurement and sources of economic growth.

Describe the business cycle; identify the primary measure of unemployment and define “full employment”; identify the primary measure of inflation and distinguish between demand-pull and cost-push inflation.

Directions
Submit a journal entry that thoughtfully addresses each of the four following bullet points. This assignment does not have a minimum word count, but will likely be upwards of 400 words in order to meet the requirements of the “Excellent” rubric criteria.

1. Provide a brief synthesis of the COVID-19 pandemic and how it impacted the global economy.
2. What was the impact of COVID-19 on the USA’s labor force in 2020?
3. How did COVID-19 impact consumer and business confidence among the world’s largest economies?
4. How did measurement problems factor into the economic impact of COVID-19?

What is the Fed’s balance sheet? What’s your take? Should the balance sheet be smaller?

Econ Dis

Since the 2007 financial crisis the Fed’s portfolio of Treasury and mortgage-backed securities has grown tremendously, from $900 billion to more than $8 trillion today. In recent years there has been much discussion about how and how quickly the Fed may begin reducing the size of its balance sheet. What is the Fed’s balance sheet? What’s your take? Should the balance sheet be smaller?

 

Determine the marginal revenue product of labor for workers in the organization, given the wage rate. For each additional labor input Daniel adds, how much additional revenue does he get?

Write a 250 – 300 word recommendation about Daniel’s financial information and give him recommendations about some important decisions he will need to make regarding his business and personal life.As your work on your recommendations for Daniel, assume that his business is in a perfectly competitive market.
Determine the marginal revenue product of labor for workers in the organization, given the wage rate. For each additional labor input Daniel adds, how much additional revenue does he get?
Determine how many workers Daniel should employ, explaining the impact of the marginal revenue product of labor on organizational decision making.
How many total worker should Daniel employ?
Why does an organization stop hiring workers? Make sure you explain the concept of diminishing return.

Explain what assumptions need to be verified for an increase in money supply to generate an increase in prices. Also explain how these assumptions can be criticized from a Keynesian perspective.

Keynsian Model neoclassical economics

1) Using the quantity theory of money explain what assumptions need to be verified for an increase in money supply to generate an increase in prices. Also explain how these assumptions can be criticized from a Keynesian perspective.

2) Explain verbally and graphically a) the reasons that prevent the economy from reaching full employment in the old neoclassical system and b) the policies that can be implemented to restore full employment. You can use the same graph to answer both points

3) Explain verbally and graphically a) the reasons that prevent the economy from reaching full employment for Keynes/in the Keynesian model and b) the policies that can be implemented to restore full employment . You can use the same graph to answer both points.