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AB 204 Unit 1 -- Unit 9 All Assignments
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204 Unit 1 Assignment
204 Unit 2 Assignment
204 Unit 3 Assignment
204 Unit 4 Assignment
204 Unit 5 Assignment
204 Unit 6 Assignment
204 Unit 7 Assignment
204 Unit 8 Assignment
Ten Principles of Economics
Economic Models and Comparative Advantage
Supply and Demand Model and PPF
Money, Banks and the Federal Reserve System
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AB 204 Unit 1 Assignment Ten Principles of Economics
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This Assignment deals with the Ten Principles of Economics and their
applications to different scenarios. Each scenario below practices one of the 10
principles of economics. Match the principles to the appropriate scenario listed
and justify your answer. Each principle will only be used once. Refer to chapter
one for the details on the ten principles of economics.
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AB 204 Unit 2 Assignment Economic Models and Comparative Advantage
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Explain the difference between absolute advantage and comparative advantage.
Which is more important in determining trade between individuals or countries? Is
it absolute advantage or comparative advantage? Why?
Let us assume two students must prepare a presentation for their marketing
class. As part of their class presentation, they must do a series of calculations
and prepare 50 PowerPoint slides. It would take Larry
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AB 204 Unit 3 Assignment Supply and Demand Model and PPF
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1) The table below indicates the total quantity supplied and demanded of
flashlights at different price levels.
Draw Supply and Demand Curves.
What are the equilibrium price and the equilibrium quantity?
Suppose the market price is $5. What problem would exist in the market? Does it
lead to surplus or shortage? How do you expect this problem will affect the price?
Indicate this on the supply and demand graphs.
Assume the market price is currently $2. What problem would occur in the market
due to this price? Will it be shortage or surplus? What will its effect on the price?
Indicate this on the supply and demand graph.
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AB 204 Unit 4 Assignment
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1) U.S. real GDP is substantially higher today than it was 60 years ago. What does
this tell us, and what does it not tell us, about the well-being of U.S. residents?
What are the limitations of the GDP as a measure of economic well-being? Given
the limitations, why is GDP usually regarded as the best single measure of a
society’s economic well-being?
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AB 204 Unit 5 Assignment
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) Assume there is a simple economy where people consume only 2 goods, food
and clothing. Further assume that the market basket of goods used to compute
the CPI consists of 100 units of food and 20 units of clothing.
2) Calculate how much each of the following items is worth in terms of today's
dollars using 180 as the price index for today.
3) The table below uses data for 3 hypothetical countries. All the number values
are in thousands. Complete the blank entries in the table below.
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AB 204 Unit 6 Assignment
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PART 1: Comparing Long-Run Economic Growth Rates of Countries
Use the electronic library and databases to conduct research to identify the key
factors that determine long term economic growth. You can find the most up-todate reports on the economic growth trends of different countries under the World
Bank website linked below.
Please also refer to the Webliography in the course web page for additional
information on the researches done on economic issues.
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AB 204 Unit 7 Assignment Money, Banks and the Federal Reserve System
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1. This section deals with increase money supply given two scenarios (see “a”
and “b” below).
In Westlandia, the public holds 50% of money one (M1) in the form of currency,
and the required reserve ratio is 20%.
2. Explain how each of the following changes quantity of money (money supply)
in the economy.
3. Assume that in a country the total holdings of banks were as follows:
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AB 204 Unit 8 Assignment
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1. Long-run Macroeconomic Equilibrium and Stock Market Boom
Let us assume the economy reaches its long-run macroeconomic equilibrium in
2020. When the economy is in the long run macroeconomic equilibrium, the stock
market will also reach its boom. This will in turn lead to increases in stock prices
more than expected, and the stock prices will stay high for some period.
2) Studies indicate that net exports and net capital outflows tend to be equal.
a) Why do net exports and net capital outflows tend to be equal? How does an
increase in the price level change interest rates?
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AB 204 Unit 9 Assignment Monetary and Fiscal Policy, Macroeconomic
Fluctuations and Macroeconomic Equilibrium
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1. Refer to the sets of the aggregate demand, short-run aggregate supply, and
long-run aggregate supply curves. Use the graphs to explain the process and
steps by which each of the following economic scenarios will shift the economy
from one long-run macroeconomic equilibrium to another equilibrium. Under each
scenario, elaborate the short-run and long-run effects of the shifts in the
aggregate demand and aggregate supply curves on the aggregate price level and
aggregate output (real GDP).
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