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This tutorial contains New Assignments as well, Check Details
below
ECO 372 Week 1 Individual Assignment Macroeconomic Terms
ECO 372 Week 1 Individual Assignment Economic Definitions Works
heet (New)
ECO 372 Week 1 Knowledge Check
ECO 372 Week 1 Discussion Question 1
ECO 372 Week 1 Discussion Question 2
ECO 372 Week 2 knowledge Check
ECO 372 week 2 Team Weekly Reflection Economic Forecasting Pape
r (2 Papers)
ECO 372 Week 2 Discussion Question 1
ECO 372 Week 2 Group Discussion Question
ECO 372 Week 2 Individual Assignment Product Purchases and the E
conomy
ECO 372 Week 3 Discussion Question 1
ECO 372 Week 3 Group Discussion Question
ECO 372 Week 3 knowledge Check
ECO 372 Week 3 Team Assignment Fiscal Policy Paper (New)
ECO 372 Week 4 Discussion Question 1
ECO 372 Week 4 Group Discussion Question
ECO 372 Week 4 Team Reflection Supply Chain and Demand Model
ECO 372 Week 4 Individual Assignment International Economics Pap
er (New)
ECO 372 Week 4 knowledge Check
ECO 372 Week 5 Discussion Question 1
ECO 372 Week 5 Discussion Question 2
ECO 372 Week 5 Team Assignment Deficit and Debt Presentation (Ne
w)
ECO 372 Week 5 knowledge Check
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ECO 372 Final Exam (New)
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1. News Story: Workers at a carmanufacturing plant in Flint, Michigan are laid off because the econo
my is weak and GM cars aren't selling well.
GM isn't sure when the plant will reopen. What type of unemployment
describes the workers' situation?
§ Frictional unemployment
§ Structural unemployment
§ Full unemployment
§ Cyclical unemployment
2.
Globalization that allows governments to pursue expansionary policies
can be dangerous because it can lead to:
§ A reduction in the debt ceiling
§ Goods price inflation
§ Asset price inflation
§ Goods price deflation
3. Macroeconomics is:
§ The study of aggregate economic relationships.
§
An analysis of economic reality that proceeds from the parts to the wh
ole.
§
The study of pricing policies of firms and the purchasing decisions of
households.
§
The study of individual choice and how that choice is influenced by ec
onomic forces.
4.
Which of the following types of unemployment is considered to be the
most controllable through demand-side macroeconomic policy?
§ Frictional unemployment
§ Cyclical unemployment
§ Structural unemployment
§ Natural unemployment
5.
If banks hold excess reserves whereas before they did not, the money
multiplier:
§ Will become smaller
§ Will become larger
§ Might increase or might decrease
§ Will be unaffected
6. Using the expenditure approach, gross domestic product equals:
§
The sum of consumption, investment, government purchases, and net
exports
§ Gross national product minus net exports
§ The sum of consumption, investment, and government purchases
§ Gross national product
7. How do investment in technology and investment in capital differ?
§
They have similar effects on output so they have no important differen
ces from an economic point of view.
§
They have the same effects on output but investments in technology ar
e much more closely tied to the level of saving than investments in capi
tal.
§
They have different effects on output because of the positive externaliti
es associated with investments in capital.
§
They have different effects on output because of the positive externaliti
es associate with investments in technology.
8. The interest rate is the price paid for use of a:
§ Real asset.
§ Financial liability.
§ Financial asset.
§ Real liability.
9.
If the reserve requirement is 20 percent, and banks keep no excess rese
rves, an increase in an initial inflow of $100 into the banking system w
ill cause
an increase in the money supply of:
§ $50
§ $100
§ $500
§ $20
10.
Suppose farmers can use their land to grown either wheat or corn. The
law of supply predicts that an increase in the market price of wheat wi
ll cause:
§ Farmers to substitute wheat for the production of corn.
§ Farmers to raise the production of corn and wheat.
§ Farmers to lower the production of corn and wheat.
§ Farmers to substitute corn for the production of wheat.
11.
According to Keynes, why might deflation create problems for an econ
omy?
§
In expectation of increased spending, too many entrepreneurs would b
egin businesses and most would fail.
§
The cost of repricing goods would increase costs, and therefore reduce
profits, for businesses and they would cut production.
§
People would drop out of unions because unions would become ineffec
tive at keeping wages of members high.
§
Consumers might expect prices to fall further and cut back consumpti
on now.
12. When interest rates rise, people are:
§ More likely to borrow, that is, purchase a financial asset.
§ More likely to borrow, that is, sell a financial asset.
§ Less likely to borrow, that is, sell a financial asset.
§ Less likely to borrow, that is, purchase a financial asset.
13.
According to the Classical growth model, an economy that increases it
s saving will grow:
§ Quickly since the increase in saving will permit greater investment.
§
Quickly since the increase in saving will permit more rapid technologi
cal progress.
§ Slowly because interest rates will fall, causing investment to decline.
§ Slowly because consumption and aggregate demand will be reduced.
14.
Suppose that consumer spending is expected to decrease in the near fu
ture. If output is at potential output, which of the following policies
is most appropriate according to the AS/AD model?
§ A reduction in government spending
§ An increase in taxes
§ An increase in government spending
§ No change in taxes or government spending
15.
Which of the following topics is best characterized as a macroeconomi
c issue?
§ The effect of a drought on the price of corn
§ The decision by Apple to produce fewer Macintosh computers
§
The effect of an increase in federal spending on the unemployment rat
e
§ The choice a student makes in selecting college course
16. If income increases more rapidly than expected, then:
§ Estimates of the target rate of employment are likely to increase.
§ The budget is less likely to be in surplus.
§ Tax revenues will be lower than expected.
§ Spending on incomesupport programs will likely be lower than expected.
17.
In which of the following situations is a budget surplus most likely to o
ccur?
§ When fiscal policy is contractionary and the economy is expanding
§ When fiscal policy is expansionary and the economy is contracting
§ When fiscal policy is expansionary
§ When the economy is contracting
18. The largest expenditure component of GDP is:
§ Government spending
§ Net exports
§ Investment
§ Consumption
19.
Which of the following is the path through which contractionary mone
tary policy works?
§
Money down implies interest rate up implies investment up implies inc
ome down.
§
Money down implies interest rate down implies investment down impli
es income down.
§
Money down implies interest rate up implies investment down implies i
ncome down.
§
Money down implies interest rate down implies investment up implies i
ncome down.
20.
As a country develops economically, what changes usually take place i
n the goods it exports?
§
There is little change because comparative advantage does not change.
§
Exports go from being diversified to being specialized in whatever the
country finds to its comparative advantage.
§
Services and manufactured goods decline in importance and are repla
ced by raw materials and agricultural products.
§
Raw materials and agricultural products decline in importance and ar
e replaced by services and manufactured goods.
21.
What would make foreigners want to buy more from the United States?
§ Higher tariffs
§ Higher interest rates in the United States
§ Inflation in the United States
§ A fall in the value of the dollar in the foreign exchange market
22. The depreciation of currency will:
Balance a trade surplus.
§ Have no impact on a country's comparative advantage.
§ Worsen a country's comparative advantage.
§ Improve a country's comparative advantage.
23.
The government of Crossland wants to influence its exchange rate. It
will do so by buying and selling:
§ Currencies in its official reserves
§ Commodities
§ Goods and services from the current account
§ Transfers
24.
If a country wants to prevent its exchange rates from falling, it could:
§ Place restrictions on imports
§ Pursue easier monetary policy
§ Remove any subsidies on exports
§ Remove restrictions on imports
25. Central banks are responsible for:
§ Both monetary policy and fiscal policy
§ Monetary policy but not fiscal policy
§ Neither monetary policy nor fiscal policy
§ Fiscal policy but not monetary policy
26. Quotas and tariffs can:
§ Never have the same effect on imports and import prices.
§
Have the same effect on the price of domestically produced goods if th
ey are set appropriately.
§ Yield the same amount of tax revenue if they are set appropriately.
§
Both increase international trade by the same amount if set appropriat
ely.
27.
Between 2007 and 2009, the U.S. unemployment rate rose from under
5 percent to over 8 percent. A Keynesian economist would most likely
blame this increase in unemployment on:
§ An increase in the minimum wage.
§ An increase in the bargaining power of labor unions.
§ A decline in the level of aggregate demand.
§ A decline in aggregate supply.
28. U.S. imports involve an:
§ Inflow of foreign currency from foreigners to the U.S. economy
§ Inflow of dollars from foreigners to the United States economy
§ Outflow of foreign currency from the United States to foreigners
§ Outflow of dollars from the United States to foreigners
29.
The law of demand states that quantity demanded of a good is inversel
y related to the price of that good. Therefore, as the price of a good goe
s:
§ Up, the quantity demanded goes down.
§ Down, the quantity demanded stays the same.
§ Up, the quantity demanded also goes up.
§ Down, the quantity demanded goes down.
30. According to Keynes, market economies:
§ Never experience significant declines in aggregate demand.
§
Are constantly experiencing significant declines in aggregate demand.
§
May recover slowly after they experience a significant decline in aggre
gate demand.
§
Quickly recover after they experience a significant decline in aggregat
e demand.
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ECO 372 Final Exam Guide (Uop)
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1) The largest source of household income in the U.S. is obtained from
2) The market where business sell goods and services to households an
d the government is called the
3) Real gross domestic product is best defined as
4) Underemployment includes people
A. who work "off-thebooks" to avoid tax liabilities B. who are working part time, or not
using all their skills at a full-time
job
5) The Bureau of Economic Analysis is responsible for which of the fo
llowing?
6) The Federal Reserve provides which of the following data?
7) Consider if the government instituted a 10 percent income tax surch
arge. In terms of the AS/AD model, this change should have
8) If the depreciation of a country's currency increases its aggregate e
xpenditures by 20, the AD curve will
A. shift right by more than 20 B. shift right by less than 20 C.
shift right by exactly 20 D. not shift at all
9) Aggregate demand management policies are designed most directly t
o
10) Suppose that consumer spending is expected to decrease in the nea
r future. If output is at potential output, which of the following
policies is most appropriate according to the AS/AD model?
11) According to Keynes, market economies
12) The laissezfaire policy prescription to eliminate unemployment was to
13) In the AS/AD model, an expansionary monetary policy has the gre
atest effect on the price level when it
14) The Federal funds rate
15) What tool of monetary policy will the Federal Reserve use to incre
ase the federal funds rate from 1% to 1.25%?
16) If the Federal Reserve increases the required reserves, financial in
stitutions will likely lend out
17) Suppose the money multiplier in the U.S. is 3. Suppose further that
if the Federal Reserve changes the discount rate by 1 percentage
point, banks change their reserves by 300. To increase the money supp
ly by 2700 the Federal Reserve should
A. reduce the discount rate by 3 percentage points B. reduce the
discount rate by 10 percentage points
C. raise the discount rate by 3 percentage points D. raise the dis
count rate by 10 percentage points
18) If the Federal Reserve reduced its reserve requirement from 6.5 pe
rcent to 5 percent. This policy would most likely
19) A country can have a trade deficit as long as it can
20) A weaker dollar
21) In the short run, a trade deficit allows more consumption, but in th
e long run, a trade deficit is a problem because
22) Considering an economy with a current trade deficit and consideri
ng only the direct effect on income, an expansionary monetary policy
tends to
23) The balance of trade measures the
24) When a country runs a trade deficit, it does so by:
25) Expansionary fiscal policy tends to
26) In considering the net effect of expansionary fiscal policy on the tr
ade deficit, the
27) If U.S. interest rates fall relative to Japanese interest rates and Jap
anese inflation falls relative to U.S. inflation, then the
28) Expansionary monetary policy tends to
29) The U.S. has limits on Chinese textile imports. Such limits are an e
xample of
30) Duties imposed by the U.S. government on imported Chinese froze
n and canned shrimp are an example of
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ECO 372 Week 1 Discussion Question 1 (Uop)
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What is the difference between real and nominal GDP? Does GDP
accurately reflect our nation’s well being? Explain.
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ECO 372 Week 1 Discussion Question 2 (Uop)
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Unemployment rate measures the number of unemployed workers in
the labour force. List and explain three types of unemployment. Find
the most recent unemployment rate of your state. From a personal
perspective, can you explain your view of the current job market in
your local area?
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ECO 372 Week 1 Individual Assignment Economic
Definitions Worksheet (New)
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Complete the Macroeconomic Terms Worksheet.
Click the Assignment Files tab to submit your assignment.
……………………………………………………………………….
ECO 372 Week 1 Individual Assignment Macroeconomic
Terms
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Complete the Macroeconomic Terms.
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ECO 372 Week 1 Knowledge Check
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1.The two frameworks conventional economists generally use to
analyze macroeconomic issues are
2.The relationship between real and nominal interest rate can be
expressed by
3.Which of the following economic activities would be included in the
U.S. domestic gross product (GDP)?
4.Cyclical unemployment is defined as unemployment that results
from
5.The longest business cycle expansion in U.S. history occurred in the
10 years from
6.Economics is the study of how
7.Given that diesel cars get much better gas mileage than the typical
car, an increase in the price of gasoline would be expected to
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ECO 372 Week 2 Discussion Question 1 (Uop)
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How do Classical and Keynesian economists differ in their view of the
aggregate supply curve?How does this influence what Classical and
Keynesian economists believe about fiscal policy?
Do you think the current President and Congress were taking
Classical approach in their fiscal policies? Explain your answer.
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ECO 372 Week 2 Group Discussion Question (Uop)
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What is the difference between contractionary and expansionary fiscal
policies? Which is more appropriate today? Explain your answer. How
might contractionary and expansionary fiscal policies affect your
organization?
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ECO 372 Week 2 Individual Assignment Product Purchases
and the Economy
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You've been debating on making a purchase for yourself.
This is a product you've wanted for a while, but one that requires budg
eting because you will be making monthly payments.
Select a product in which the demand for the product is clearly affecte
d by the strength or weakness of the overall economy such as new hom
es, cars, appliances,
smart phones, etc.
Write a 1,050- to 1,400word paper in which you address the following:
· Identify and define two economic indicators that reflect the strength o
f the economy (e.g. real GDP, unemployment rate, inflation rate, intere
st rate, housing starts, etc.).
· With these economic indicators in mind, how has the economy affecte
d the demand for and supply of your selected product over the last 2 ye
ars?
· What was the impact on the supply of the product and the impact on t
he demand for the product?
· Explain the impact on the price of the product and your decision on
whether or not to buy the product.
· Include responses to the following:
o How might you apply what you learned about supply and demand to
your work place or your understanding of the product you are conside
ring purchasing?
o How do the concepts of macroeconomics help you understand the fa
ctors that affect shifts in supply and demand on the price of the produc
t?
Cite a minimum of three peerreviewed sources not including your textbook.
Click the Assignment Files tab to submit your assignment.
……………………………………………………………………….
ECO 372 Week 2 knowledge Check
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1.The globalized AS/AD curve is the standard AS/AD model with an
added
2.According to Say's Law, people
3.A shift in the long-run aggregate supply curve will change
4.The hypothesis about the macroeconomy that sees the recent
problems with the U.S. economy directly related to the structural
problems caused by globalization is referred to as the __________
hypothesis.
8.The central difference between the standard theory and the
structural stagnation hypothesis when it comes to growth is
5.In 2009, the personal savings rate rose. If the additional savings
were not translated into investment, Keynes would predict that
aggregate income would
6.According to the Keynesian model,
7.The study of economic growth focuses on the factors that cause an
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ECO 372 Week 2 Team Weekly Reflection Economic
Forecasting Paper (2 Papers)
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This Tutorial contains 2 different Papers
Develop a list of resources you might use to gather historical economic
data as well as economic forecast data.
Explain how and why each source is valuable and useful.
Identify any quantitative or qualitative forecasting factors contained in
the sources.
Discuss this week’s objectives with your team. Your discussion should
include the topics you feel comfortable with, any topics you struggled
with, and how the weekly topics relate to application in your field.
Write a 350- to 1,050-word paper that details your team's findings.
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ECO 372 Week 3 Discussion Question 1 (Uop)
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What is the difference between contractionary and expansionary
monetary policy? Which is more appropriate today? What are the
impacts of this policy on US economy?
……………………………………………………………………….
ECO 372 Week 3 Group Discussion Question (Uop)
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What are the uses of money?Describe how rapid inflation can
undermine money’s ability to perform its three basic functions. Will
current Fed's policy hinder money's ability to perform its three basic
functions? Explain your rational.
……………………………………………………………………….
ECO 372 Week 3 knowledge Check
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1.If you expect interest rates to rise, you will want to be holding
2.The interest rate is the price paid for the use of a
3.Which of the following do policy makers tend to target when setting
monetary policy?
4.If the Federal Reserve reduced its reserve requirement from 6.5
percent to 5 percent, this policy would most likely
5.If banks hold excess reserves whereas before they did not, the money
multiplier
6.The process of money multiplier depends on
7.Quantitative easing refers to
8.If the Fed wants an easier monetary policy, it might
9.When the Fed raised the interest rates between 2004 and 2007, the
Federal Reserve
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ECO 372 Week 3 Team Assignment Fiscal Policy Paper
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Select an organization with which the team is familiar.
Write a 1,400- to 1,750word paper in which you include the following:
· Research federal government spending and taxes over the last 35 years (fiscal policy). Has total government spending increased or dec
reased? Explain.
Have income tax rates increased or decreased? Explain.
· Describe the impact of these fiscal policies on the U.S. economy
· Describe the impact of these fiscal policies on your team's selected or
ganization.
· Have other macroeconomic events impacted the economy and/or your
selected organization? If so, explain.
· What are expectations regarding the strength of the economy in the n
ext 2 years?
· Make recommendations for your organization regarding how to best
compete in the expected economy.
Include a minimum of 3 peer reviewed sources not including your text
book.
Click the Assignment Files tab to submit your assignment.
……………………………………………………………………….
ECO 372 Week 4 Discussion Question 1 (Uop)
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Who benefits from a tariff or quota? Who loses? What are the
positives and negatives of protectionist trade policies? Which policy is
best right now?
……………………………………………………………………….
ECO 372 Week 4 Group Discussion Question (Uop)
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Define trade surplus and trade deficit? How do trade deficits and
surpluses affect exchange rate and the industry in which you work?
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ECO 372 Week 4 Individual Assignment International
Economics Paper
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Select an organization that both U.S. and international presences.
Write a 1,050- to 1,400word paper in which you answer address the following:
· What does the president and congress do to stimulate the economy?
What does the president and congress do to contract the economy?
· What does the Federal Reserve do to stimulate the economy? What do
es the Federal Reserve do to contract the economy?
· What motivates policymakers to stimulate the economy or contract th
e economy?
· Based on your research, what does the Federal Reserve say about its
policy goals?
· What does the Federal Reserve say about the strength of the economy?
· How does the strength of other economies outside of the U.S. affect y
our organization?
· Based on your research, recommend changes in your organization's
competitive strategies or supply chain.
Use a minimum of 3 peer reviewed sources not including your textboo
k.
Click the Assignment Files tab to submit your assignment.
……………………………………………………………………….
ECO 372 Week 4 knowledge Check
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1.In the long-run framework, budget surpluses
2. The budget deficit or surplus is
3.Deficits and surpluses are best viewed as
4.Suppose the government increases spending by $30 billion and raises
taxes at by $20 billion at the same time. Then,
5 Because automatic stabilizers lower transfer payments and raise tax
receipts as an economy recovers from a recession, they
6.Most of the government budget is mandatory spending through
programs like Medicare and Social Security, and much of the rest is
politically difficult to alter. Because of this,
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ECO 372 Week 4 Team Reflection Supply Chain and
Demand Model
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Discuss the relationship between supply chain and the supply and
demand model.
Prepare a 350- to 1,050- word paper detailing the findings of your
discussion.
……………………………………………………………………….
ECO 372 Week 5 knowledge Check
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1.In the U.S. current account, most of the trade deficit results from an
excess of imported
2.What is the difference between the balance of trade and the balance
of payments?
3.If a government has implemented significantly higher trade tariffs,
but does not want this action to affect the value of its currency, it will
4. During 2007, the United States and Japan announced possible
limits on Chinese imports through higher tariff rates on Chinese
products. To avoid these limits, China would have to
5.If a country wants to prevent its exchange rate from falling, it could
6.All other things being equal, an increase in trade restrictions on
imports will
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ECO 372 Week 5 Team Assignment Deficit and Debt
Presentation
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Create a 15- to 18slide PowerPoint® presentation including detailed speaker notes in wh
ich you include the following:
· Research the direction of monetary policy over the last 35 years. Has the money supply increased or decreased? Explain.
Have interest rates increased or decreased? Explain.
· Describe the impact of these monetary policies on the U.S. economy
· Describe the impact of these monetary policies on your team's selecte
d organization.
· Have events in the economies of other countries impacted the U.S. ec
onomy? If so, explain.
· What are expectations regarding the strength of the U.S. economy in
the next 2 years?
· How do changes in the value of the U.S. dollar impact your selected o
rganization?
· Make recommendations for your organization regarding how to best
compete in the expected global economy.
Include a minimum of 3 peer reviewed sources not including your text.
Click the Assignment Files tab to submit your assignment.