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Economics Final Exam Study Guide Unit 1: Know the following terms and be able to answer the following questions 1. opportunity Cost- 2. service- 3. Voluntary Exchange- 4. Natural Resources- 5. Market Economy- 6. Command Economy- 7. Mixed Economy- 8. How does the US Government pay for most public goods and services? 9. What is […]
One of the things we learned about in class is the trilemma which states that if a country pegs its exchange rate to a base country’s currency and allows the free flow of capital in and out of the country, then it follows that the country’s interest rate will be the same as that of […]
Define Microeconomics, the economic concepts presented in the course, and describe at least three (3) fundamental economic questions that all economies must decide.
Micro/Macro Economics 1. In March 2020 the US Energy Information Agency published a report with the headline “Oil market volatility is at an all-time high”. Using basic principles of demand and supply explain why oil prices tend to be so volatile and why it is not surprising that the EIA would predict that volatility will […]
Summarize the question stated below with a minimum of eight hundred words. Define Microeconomics, the economic concepts presented in the course, and describe at least three (3) fundamental economic questions that all economies must decide.
Explain which topic covered in the course applies to each article, and provide your reaction to the article based on what you have learned in our course. For example, you should be able to show first what the article indicates was the cause and whether you agree. A paragraph for each article
In economic terms what is a firm? Outline the thinking of at least two economists whose work has influenced how firms are understood.
Suppose you are interested in the marginal propensity to consume according to the following population regression model: Model 1: , with denotes household ‘s average annual consumption and denotes a measure of household ‘s permanent income. Suppos that your sample consists of a random sample of consumption and income data from the entire population of […]
History of the global economy – Industrial revolution What are the main ways in which the Industrial Revolution changed the global economy?
Research a contemporary issue in engineering and present an issue-focused pro and con paper on it . Develop an unbiased “topic statement,” then present contrasting sides of the issue in your paper, with a final conclusion you feel represents the topic fairly and impartially. The paper should explore the following information: a. Overview of the […]
