References: Mankiw‚ N. Principles of Macroeconomics. 7th Edition. Cengage Learning‚ 2015
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Student Name: Li‚ Bo(Kevin) Student No.: 1155023825 Inflation increases the wealth gap In economics‚ inflation is a rise in the general level of prices of goods and services in an economy over a period of time. When the general price level rises‚ each unit of currency buys fewer goods and services. Consequently‚ inflation also reflects erosion in the purchasing power of money – a loss of real value in the internal medium of exchange and unit of account in the economy. A chief measure
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Soda Tax: The Beginning of the End The government plans to tax sugary drinks to lower consumption and reduce obesity rates. It is a tax that is justified‚ because a high majority of its consumers are obese and our government believes they should step in and do something about it. There are positive aspects of a soda tax‚ but it would also be a violation of freedom of choice‚ with many other red flags as well. The government simply‚ has too much involvement with our personal lives. Placing a
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QZ12016 | | Economic variables whose values are measured in monetary units are called | | | Student Response | A. | dichotomous variables. | B. | nominal variables. | C. | classical variables. | D. | real variables. | | Score: | 0.25/0.25 | | | 2. | QZ12010 | | Suppose the money market‚drawn with the value of money on the vertical axis‚ is in equilibrium. If the money supply increases‚ then at the old value of money there is | | | Student Response | A. |
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{text:bookmark-start} {text:bookmark-start} 1.2 Consumer’s response {text:bookmark-end} {text:bookmark-end} {text:bookmark-end} {text:bookmark-end} Consumer satisfaction is one of the factors that impact on the demand of automobile. According to Mankiw (2007)‚ the most obvious determinant of consumers demand is their satisfaction. Between 1975 and 1980‚ fuel price increased and the fuel economy of new cars increased by 50 percent (Brown 2002‚ p.17). Because of the higher fuel price‚ consumers shift
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Written Assignment 4 Answer all of the following questions. Title your assignment "Written Assignment 4‚" unless your mentor directs otherwise. This assignment covers text chapters 18 through 23. 1. Explain the relationship among savings‚ investment‚ and net capital outflow. Savings are equal to domestic investment + net capital outflow. In an open economy‚ both net capital outflow ( which is the purchase of foreign assets by domestic investors minus the purchase of domestic investments by
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Summary of information on each subject/module | |Name of Subject/Module |Introductory Macroeconomics | | |Subject Code |BME1024 | | |Status of Subject |Foundation | |
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How Outsourcing Is Affecting America’s Economy And Future College Graduates 11/26/12 Macro-Economics Group Project By: Jessica Klein How Outsourcing Is Affecting America’s Economy And Future College Graduates Introduction Recently‚ there have been many debates over the important issue on how companies and governments in the past decades have been increasingly sourcing a wide range of tasks to offshore sites. A group member of ours is an overseas buyer for his company. He
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Student Guide on Referencing Referencing is to acknowledge all sources used in your essay. It allows readers to locate the sources of your research materials. It also helps preventing plagiarism. Plagiarism involves copying or paraphrasing material from a source without due acknowledgement; using other’s ideas without due acknowledgement‚ or; presenting works of others and call them your own. To avoid plagiarism‚ one should follow the academic conventions of referencing. Harvard Convention
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Markets in action It is obviously clear that the market affects our daily lives‚ which has become an indispensable part for us. However‚ even though the market is so powerful that it can perform effectively in most cases‚ sometimes it fails to maximize the utility of the limited resources. Under this situation‚ in order to achieve goals of equity and social efficiency‚ it is governments throughout the world that intervene the market in the means of adopting various policies. This essay will analyze
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