a market which sees trade of goods or services. On the other hand‚ Macroeconomics studies the behavior of the economy and its entirety‚ on larger scale (Investopedia ULC. 2010). Macro-economics studies the entire economic activity‚ covering he issues of growth‚ inflation‚ and unemployment and with national economic policies relating to these issues and the effects of government actions. Macroeconomics is dependent on the regional government which will differ from one country to
Premium Economics Microeconomics Macroeconomics
Name ________________________________________________ ECON 2101 - Principles of Macroeconomics‚ Spring 2009 - Test 1 VERSION B KEY Multiple Choice (2.5 points each) Choose the response that best answers the question or completes the statement. Make sure you put all of your responses on the opscan form. 1. Suppose that a more efficient way to produce a good is discovered‚ thus lowering production costs for the good‚ ceteris paribus. This will cause a(n): a) Increase in quantity supplied
Premium Economics Supply and demand
In order to be successful in any business‚ strategic plans need to be developed‚ implemented‚ and accessed. The plans help define what is trying to be accomplished and the tools needed to carry it out. Anita Scism‚ was challenged by issues dealing with leadership style‚ unstable finances‚ events programming‚ and strategic planning when she became president of Walton Arts Center. With input from the board‚ staff members‚ and others she executed the strategic management process to determine the best
Premium Strategic management Management Strategy
References: Mankiw‚ N. Principles of Macroeconomics. 7th Edition. Cengage Learning‚ 2015.
Premium Economics International trade
Fundamentals of Macroeconomics Paper ECO/372 Fundamentals of Macroeconomics Paper Some of the terms that are frequently used in economics are; gross domestic product (GDP)‚ real GDP‚ nominal GDP‚ unemployment rate‚ inflation rate‚ and interest rates. Gross domestic product is the money value of the nation’s productivity. GDP is the value of all finished goods and services produced within the country’s border. Real GDP is the market value of the final goods and services produced in a year
Premium Inflation Economics Unemployment
between them can best be explained by comparing their main features. As the terms suggest‚ macroeconomics deals with the market on a large-scale and its aggregate problems‚ while microeconomics concerns markets on a small-scale and individual aspects of the problems. There are six distinct aspects of the two approaches that are shown as in the following table: Microeconomics Macroeconomics (a) Units of the study Individual consumers‚ producers workers‚ traders
Free Economics Macroeconomics
Name Dates Place Details Outcomes 1 Battle of Cowpens Jan. 17th 1781 Cherokee County In January the 17th of 1781 while Tarleton’s men (Britain) attacked‚ Morgan (Colonies) instructed the militia to skirmish with Tarleton’s men but to leave the front line open after firing a few rounds. The british mistook the repositioning of the Colonies as a rout and ran into an unexpected volley of aiming rifle fire with a cavalry charge and the militia showing up. The Tarleton escaped but Morgan’s troops
Premium United States American Revolutionary War American Revolution
Econ 103 Ch 4: Page 88 (page 490 in Economics) 1. Define GDP and distinguish between a final good and an intermediate good. Provide examples. GDP is the market value of all the final goods and services produced within a country in a given time period. A final good or service is an item that is sold to the final user‚ that is‚ the final consumer‚ government‚ a firm making investment‚ or a foreign entity. An intermediate good or service is an item that is produced by one firm‚ bought
Premium Inflation Supply and demand Macroeconomics
Introduction to Macroeconomics 1) Which of the following is NOT a topic studied in Macroeconomics? A) gross domestic product B) the unemployment rate C) the price of IBM computers D) the inflation rate Answer: C . 2) Which of the following is a topic studied in Macroeconomics? A) gross domestic product B) the wage of auto workers C) the price of IBM computers D) the amount of pizza produced Answer: A 3) Which of the following is a topic studied in Macroeconomics? A) the functioning
Premium Inflation Economics Monetary policy
Part B – Macroeconomics Question 10: a) Which of the following are final goods and services and which are intermediate goods and services? Please explain why in your answer. i) A windscreen purchased by a motor vehicle spare parts supplier; Intermediate goods – by national accounts (GDP) windscreen primary production value has already been accounted. It is being resold at a deflated value as second hand goods. ii) A new bulldozer to be used by a construction
Premium Inflation Gross domestic product Central bank