PRINCIPLES OF MACROECONOMICS F/AP (OER)
2nd Edition
ISBN: 9781593998813
Author: OpenStax
Publisher: XANEDU
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Textbook Question
Chapter 2, Problem 18RQ
What are four responses to the claim that people should not behave in the way described in this chapter?
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I have chosen Gross Domestic Product (GDP) as the macroeconomic indicator to review and provide a forecast prediction. Based on the current trend I predict a 2% annual GDP growth rate, indicating an unstable economy due to the impact of Donald Trump's tariffs on some countries and other other economic factors. This growth rate is lower than the historical average , indicating a slowdown in economic expansion. Overall, the forecast suggests a modest growth in GDP, but with potential risks and uncertainties ahead. But if he reverse his tariff policies, I think it could possibly result in a strong economic growth. As the removal of tariffs would likely minimize the costs for businesses and consumers and also rise trade and economic activities.
Provide feedback/comments this post. You could agreement or disagreement (including why you agree or disagree). Or you could expand on this post by sharing different views and predictions.
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ECON 2106: Microeconomics I Fall - 2023 Algoma University Homework # 2 (Due: October 19, 2023) 1. The market demand for cashmere socks is given by Q = 1,000 + 0.5I – 400P + 200P’ Where, Q = Annual demand in number of pairs I = Average income I dollars per year P = Price of one pair of cashmere shocks P’ = Price of one pair of wool shocks Given that I =
ECON 2106: Microeconomics I Fall - 2023 Algoma University Homework # 2 (Due: October 19, 2023)
1. The market demand for cashmere socks is given by Q = 1,000 + 0.5I – 400P + 200P’ Where, Q = Annual demand in number of pairs I = Average income I dollars per year P = Price of one pair of cashmere shocks P’ = Price of one pair of wool shocks Given that I = $20,000, P = $10, and P’ = $5, determine ƐQP, ƐQI, and ƐQP’.
Chapter 2 Solutions
PRINCIPLES OF MACROECONOMICS F/AP (OER)
Ch. 2 - Suppose Alphonsos town raised the price of bus...Ch. 2 - Return to the example in Figure 2.4. Suppose there...Ch. 2 - Could a nation be producing in a way that is...Ch. 2 - What are the similarities between a consumers...Ch. 2 - Individuals may not act in the rational,...Ch. 2 - Would an op-ed piece in a newspaper urging the...Ch. 2 - Would a research study on the effects of soft...Ch. 2 - Explain why scarcity leads to tradeoffs.Ch. 2 - Explain why individuals make Choices that are...Ch. 2 - What is comparative advantage?
Ch. 2 - What does a production possibilities frontier...Ch. 2 - Why is a production possibilities frontier...Ch. 2 - Explain why societies cannot make a choice above...Ch. 2 - What are diminishing marginal returns?Ch. 2 - What is productive efficiency? Allocative...Ch. 2 - What is the difference between a positive and a...Ch. 2 - Is the economic model of decision-making intended...Ch. 2 - What are four responses to the claim that people...Ch. 2 - Suppose Alphonsos town raises the price of bus...Ch. 2 - During the Second World War, Germanys factories...Ch. 2 - It is clear that productive inefficiency is a...Ch. 2 - What assumptions about the economy must he true...Ch. 2 - Do economists have any particular expertise at...Ch. 2 - If the price of a magazine is 4 each, what is the...Ch. 2 - If the price of a pie is 12, what is the maximum...Ch. 2 - Draw Maries budget constraint with pies on the...Ch. 2 - What is Maries opportunity cost of purchasing a...
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