Purpose of the ArticleYou will read the article Zombie Economics by Patrick McCormick and answer the following questions. 1. What is the purpose of the article? 2. How is the ‘zombie metaphor’ used to relate to economics? 3. Why, in your opinion, do you think that zombies are a popular metaphor? 4. In the last paragraph of the article, the author offers a solut...
Task: This exam is open-book and must be completed within two hours. Please answer the questions in the following format: 1a, 2b, 3c, etc., and email your exam to: Professor 1. Other Operated Department Revenues, including Telecommunications, Valet, Audio/Visual and services, Retail Store sales (if owned by the hotel), etc. are: a)Per available room b)Per occupied room c)Percent of Room Revenues d)Percent of Total Revenues e)None of the above 2....
Part A - BasicsPart A - Basics 1.The Labor Market a.Briefly explain what economists mean when they say the labor market doesn’t clear in the sense of the classical model. b.Briefly explain why the labor market doesn’t clear. c.Conceptually explain the concept of the natural rate of unemployment. d.Briefly explain what determines structural differences in unemployment rates across geographies, based on the assumptions made abou...
Overview of TaskTask: Prompt Directions: 1.Find two goods or services that have very different demand elasticities. This is assuming you understand elasticity according to chapter 5. Hint, go read chapter 5 if you have not done so. 2.Compare and contrast how people respond differently to price changes between the two goods or services that you selected. Be sure to mention how one is more elastic (slightly sloped) and the other is close to or ...
Problem 1: Absolute Advantage and Ricardian ModelA. Describe the pattern of absolute advantage and briefly explain how you arrived at your conclusion. B. State the opportunity costs to produce a single block of cheese in each nation. C. Describe the pattern of trade we would expect to see between these two nations, according to Ricardo's principle of comparative advantage, and briefly explain how you arrived at your conclusion. D. Suppose ...
Macroeconomic Data AnalysisThe final project for this course is the creation of economic history analysis presentation. Macroeconomics is the part of the study of economics that is concerned with the aggregate or the whole. Macroeconomics provides us with tools and methods to understand how our economy works as a whole. It deals with economy-wide issues such as price levels, employment, national income, and growth. As a student of macroeconomi...
InstructionsTask: In this Assignment, you will examine different factors that affect supply and demand, and also supply and demand equations to calculate the equilibrium price and quantity. In addition, you will evaluate the effects of imposing per unit tax on market price, quantity and economic welfare. Instructions: This Assignment requires a combination of short paragraph answers and computations. Answer all of the following questions in th...
Task InstructionsTask: The Data Exercise must be posted to the LEO Student Assignments as a Attachments are limited to a maximum two files in doc, docx., xls. xlsx., or rtf. formats. OTHER FORMATS ARE NOT ACCEPTABLE, will not be reviewed or graded. Please note that hand-written and scanned works, pdf. files, jpg. files, as well as files posted in google drive, will not be accepted or graded. The paper should be written in APA style Research P...
Question: TASK 1 Critically analysed the following micro economics concepts with reference to any retail business of your choice. 1.1 Explain the law of Demand, movement along the same demand curve (with the aid of diagram) and changes in demand curve with its factors (with the aid of diagram). 1.2 Explain the law of Supply, movement along the same supply curve (with the aid of diagram) and changes in supply curve with its factors (with t...
The Impact of Tariffs on the US NIIRU1. a. What will happen to the US NIIRU (aka NAIRU or un) if President Trump, by putting “America First,” imposes tariffs on many goods from many countries? Be sure to explain what this “shock” is; use the un equation to check. b. Use the extended IS-LM model linked to the PC graph to examine the SR and MR effects of this “deglobalization” shock. Assume the US start...
Using Data Analytics to Deal with the Corona VirusTopics: a. How to use data analytics to deal with the corona virus. What type of data information do we need, who is responsible for collecting/storing data. Privacy concerns? b. The monetary policy response of the US Fed to the economic uncertainty resulting from the virus. Compare the current policy measures to the actions undertaken in 2008. Also, show the Canadian central bank response. Any a...
TaskTask: • As students continue to try and improve writing essays on microeconomic topics, it is helpful for students to have the opportunity to see what other essays look like . The takeaway I think would be valuable and a good learning experience. • Every student will therefore submit an essay on the topic below on Canvas by the due date. The individual essay will be evaluated for class participation points, but not graded. When t...
Farmer's Employment DecisionQuestion 1A farmer needs to decide, at the beginning of the planting season, whether to work on the farm for the planting season, or work in town. If the farmer works on the farm and the yield that season is high, she will earn $120 for the season. The yield will be high with probability 0.4. If she works on the farm and the yield that season is low, she will earn only $10 for the season. The yield will be...
Task 1: Drawing supply-demand curve and indicating equilibrium pointYou work for a city council in their transport planning department. The city has a large number of taxis currently operating within the city limits, and the council sets the ‘price per mile’ that they charge. You have been asked to evaluate the impact on the number of taxis were the cost per mile to be changed. A recent market survey suggest that the demand...
Examination of Macroeconomic DataFor this assignment, you will first need to choose a 10-year period in U.S. economic history between 1950 and today. You will then present the data collected from government sources related to a variety of macroeconomic phenomena and analyze them in conjunction with the models and core principles to explain the economy-wide changes during your chosen time period. You will also examine the events of the time in ...