Do My Essay!

Do not waste time. Get a complete paper today.

Our leading custom writing service provides custom written papers in 80+ disciplines. Order essays, research papers, term papers, book reviews, assignments, dissertation, thesis or extensive dissertations & our expert ENL writers will easily prepare a paper according to your requirements.

You’ll get your high quality plagiarism-free paper according to your deadline! No Bullshit!!

Special offer! Get 20% discount on your first order. Promo code: SAVE20

week 5 homework

Questions 1

The figure shows the flows of expenditure and income on Lotus Island.

Gudwriter Essay Writing

In? 2013, R was ?$1515 ?billion; W was ?$31 ?billion; U was ?$15 ?billion; X was ?$19 ?billion; and Z was ?$3 billion.

Calculate total expenditure and total income.

Total expenditure is ?$68 billion.

Total income is ?$68 billion.

Question 2

Categorize the following items as a final? good, an intermediate? good, or neither.

Type? “F’ for a final? good, “I” for an intermediate? good, and? “N” for neither.

The garbage can you bought when you moved into residence

Sugar purchased by Angelo’s bakery to make pies and cakes

Concrete purchased by Your Swimming Pool Inc.

Shares in Ford Motor Company

Question 3

In 2010?, U.S. exports of goods and services were ?$1,844 billion and imports of goods and services were ?$2,356 billion.

What was the value of net? exports?

The value of net exports in 2010 was ____________ billion dollars.

??

Question 4

The table shows some of the items in the U.S. National Income and Product Accounts in 2010.

Use the expenditure approach to calculate U.S. GDP in 2010.

U.S. GDP in 2010 using the expenditure approach was

?$___________ trillion.

Item

Amount

?(trillions of? dollars)

Consumption expenditure

10.2

Government expenditure

3.1

Indirect taxes less subsidies

1.0

Depreciation

1.9

Net factor income from abroad

0.2

Investment

1.7

Net exports

?0.5

Statistical discrepancy

0

Question 5

The table shows an? economy’s total production and the prices of the final goods it produced in 2013 and 2014.

Calculate nominal GDP in 2013 and nominal GDP in 2014.

Nominal GDP in 2013 is ?$_____

Nominal GDP in 2014 is ?$_______

In 2013

Item

Quantity

Price

Fish

130

?$2

Berries

30

?$6

In 2014

Item

Quantity

Price

Fish

90

?$5

Berries

70

?$8

Question 6 Which of the following are included in the income approach to measuring? GDP?

A. wages?; investment?; consumption expenditure

B .profit?; wages?; government expenditure on goods and services

C. interest?; profit?; investment

D. interest?; profit; wages

Question 7

The table gives data about? Northland’s economy in 2010.

What is the value of GDP in Northland in 2010??

A. ?$1,371 billion

B. ?$1,032 billion

C. ?$2,403 billion

D. ?$1,526 billion

Item

Amount

?(billions)

Consumption expenditure

760

Wages

688

Indirect taxes less subsidies

155

Investment

261

Net exports of goods and services

52

Profit

189

Government expenditure on goods and services

298

Question 8

Real GDP? ______.

A. accurately measures leisure time and life expectancy , but does not accurately measure the general health of the population

B. accurately measures environment quality and political freedom, but it does not accurately measure underground economic activity

C. does not accurately measure household production comma underground economic activity comma or life expectancy

D. accurately measures household production, but does not accurately measure catastrophic weather such as hurricanes and ice storms

Question 9

A. The underground economy is difficult to describe but easy to measure.

B. Preparing meals comma cleaning the kitchen comma and cutting the grass are household activities that are not included in GDP.

C. Leisure time is an economic good.

D. The underground economy is the part of the economy that is hidden from the view of the government.

Question 10

The business cycle is a? _____ but? _____ up-and-down movement of total? _____ and other measures of economic activity.

A. ?occasional; regular; consumption

B. ?periodic; irregular; production

C. ?periodic; irregular; consumption

D. ?occasional; regular; production

Question 11

Which of the following countries is facing a recession??

A. The Bank of England raised the? country’s interest rate from 0.5 percent in the first quarter to 0.9 percent in the second quarter of 2013.

B. The United States faced a change in the inflation rate from 2.2 percent in 2012 to 1.7 percent in 2013.

C. ?Japan’s real GDP of 3.8 percent in the first quarter decreased by 0.3 and 0.4 percent respectively in the second and third quarters of 2012.

D. ?India’s real GDP of 5.3 percent in the second quarter increased by 0.4 percent in the third quarter of 2012

Question 12

?Chained-dollar real GDP is the measure of real GDP calculated by the? _____.

A. Federal Reserve

B. Bureau of Economic Analysis

C. U.S. Department of Commerce

D. Bureau of Labor Statistics

Question 13

The table shows some data for an island economy which produces only smoothies and milkshakes.

The base year is 2012.

Calculate the value of 2013 production in 2012 prices and the percentage increase in production when valued at 2012 prices.

The value of 2013 production in 2012 prices is ?$_________

The percentage increase in production when valued at 2012 prices is ____________

?>>> Answer to 1 decimal place.

In 2012

Item

Quantity

Price

Smoothies

90

?$5

each

Milkshakes

55

?$44

each

In 2013

Item

Quantity

Price

Smoothies

112

?$9

each

Milkshakes

67

?$7

each

Question 14

The table shows some data for an island economy which produces only dog leashes and dog collars.

The base year is 2012.

Calculate real GDP in 2012 and real GDP in 2013 using the? chained-dollar method.

Real GDP in 2012 using the? chained-dollar method is __________

Real GDP in 2013 using the? chained-dollar method is ________

In 2012

Item

Quantity

Price

Dog leashes

98

?$3each

Dog collars

54

$6each

?>>> Answer with a whole number.

In 2013

Item

Quantity

Price

Dog leashes

113

?$5each

Dog collars

65

?$6each

Question 15

Suppose an economic slump in the rest of the world decreases U.S. exports.

As a? result, there is? ______ in the U.S. production? function, and? ______ in the U.S. demand for labor.

A. a downward shift?; a decrease

B. no shift?; a decrease

C.an upward shift?; an increase

D.an upward shift?; no change

E.no shift?; no change

There is ___________in the U.S. supply of labor.

Question 16

The tables set out information about the economy of Athabasca.???

??

Suppose the labor force participation rate of Athabasca increases.

??

When the labor force participation rate of Athabasca increases?, employment

increases

.

When the labor force participation rate of Athabasca increases?, potential GDP? ______, and the real wage rate? ______.

A.

increases?;decreases

.B. decreases?;decreases

C. increases?; increases

D. decreases?; increases

??

Table 1 Production Function

Labor hours

?(millions)

Real GDP

?(millions of? dollars)

1

20

2

39

3

57

4

74

5

90

??

Table 2 Labor Market

Real wage

rate

?(dollars per? hour)

Quantity of

labor demanded

Quantity of labor supplied

?(millions of hours per? year)

20

1

5

19

2

4

18

3

3

17

4

2

16

5

1

Question 17

Suppose migration into the United States increases the working -age population.

As a? result, there is? ______ in the U.S. production function.

A. no shift

B. an upward shift

C. a downward shift

There is? ______ in the U.S. demand for labor and? ______ in the U.S. supply of labor.

A. a decrease

B. no change no change

C. a decrease ?; no change

D.no change?; an increase

Question 18

According to classical? macroeconomics, ______.

A. lower taxes increase economic growth

B. no remedy by government can improve on the performance of the market

C. government spending must rise to counter the problem of too little private spending

D. full employment will never occur without constant government intervention

Question 19

?Keynes’ theory was that? ______.

A. prices and wages react quickly to shocks in the economy

B. an economy will gradually work itself out of depression with no government intervention

C. too much government spending is the cause of depression and recession

D. too little private spending is the cause of depression and recession

Question 20

The table provides some data for an economy in 2011 and 2012.

Calculate the growth rate of real GDP in 2012.

The growth rate of real GDP in 2012 is ________ percent.

Item

20112011

20122012

Aggregate hours? (billions)

80.0

81.2

Real GDP? (billions of 2009? dollars)

4,000

4,200

week 6 homework

Question 1
The BLS reported that in November 2017?, the labor force was 160.5 ?million, employment was153.5 ?million, and the? working-age population was 255.2 million.

Calculate the unemployment rate and the labor force participation rate.

?>>> Answer to the nearest 1 decimal place.

The unemployment rate is __________percent.

The labor force participation rate is ____________ percent.

Question 2

The BLS reported that in July 2017July 2017?, the labor force was 160.5 ?million, employment was 153.5 ?million, and the? working-age population was 255.2 million.

The BLS also reported that 17.3 percent of all employment in July 2017July 2017 was part time and that 5.3 million people worked part time for economic reasons.

How many people worked part time for noneconomic? reasons?

?>>> Answer to the nearest 1 decimal place.

_____________ million people worked part time for noneconomic reasons.

Question 3

A BLS labor market survey interviewer recorded the facts about the 10 people in the four households shown in the table.

Choose the correct statement.

A. Kosta is unemployed and Candy is unemployed.

B. Mimi is unemployed and Harry is not in the labor force.

C. Harry is not in the labor force and Kosta is unemployed.

D. Jerry is employed and Mimi is not in the labor force.

E. Candy is employed part time and Jerry is unemployed.

??

Candy and Serena work part time for economics reasons.

A. True

B. False

Person

Work hours

Activity

Candy

20

works at own business. Also completed application forms and attended two job interviews.

Jerry

40

works at GM

Meg

10

student weekend job

Joey

0

on vacation from bank

Serena

10

?part-time check-out clerk who wants a full time job

Ari

0

waiting for recall to regular job in 2 weeks

Kosta

0

stopped looking for? work; going back to school

Mimi

0

retired

Harry

0

retired

Hank

12

works at own business unpaid

Question 4

The Bureau of Labor Statistics reported that in June, 2017?, the labor force was 160,494,000?, employment was 153,513,000?, and the? working-age population was255,151,000.

Calculate for that month the labor force participation rate and the unemployment rate.

?>>> Answer to the nearest 1 decimal place.

The labor force participation rate was _________percent.

The unemployment rate was __________percent.

Question 5

The Bureau of Labor Statistics reported that in July 2003?, the labor force was 147.8 ?million, employment was 138.5 ?million, and the? working-age population was 221.3 million.

In July 2003?, what was the unemployment rate and the labor force participation? rate?

?>>> Answer to 1 decimal place.

The unemployment rate in July 2003 was _________percent.

The labor force participation rate in July 2003 was ________percent.

Question 6

The table gives information reported by the Bureau of Labor Statistics for February?, 20072007.

What is the unemployment? rate?

The unemployment rate is ________percent.?

?>>> Answer to 1 decimal place

Item

Millions

Labor force

153

Employment

141

?Working-age population

232

Question 7

A discouraged worker? ______.

A. is someone who has a full dash time job but because of family responsibilities would prefer to work part time

B. is not included in the working dash age population

C. is a marginally attached worker who has not made specific efforts to find a job within the previous four weeks because previous unsuccessful attempts were discouraging

D. is included in the labor force

Question 8

The table gives information about a? nation’s labor force.

What is the number employed??

The number employed is ________million.??

?>>> Answer to 1 decimal place.

Labor Market Data

Labor force

146.5 million

Not in labor force

74.7 million

Unemployed

8.8 million

Question 9

?Real-Time Data Analysis? Exercise*?

Labor market variable

In July comma 2017July, 2017

?(thousands)

Civilian population over 16

255,151

Employment

153,513

Unemployment

6,981

??

The table above and graph to the right provide information about the U.S. labor market in July, 2017.

In?, July, 2017?, the unemployment rate in the United States was _______percent.??

?>>> Answer to 1 decimal place.

Question 10

The ?working-age population is the total number of? _____ aged? _____ years and over who are not in? jail, hospital, or some other form of institutional care or in the U.S. Armed Forces.

A. ?people; 15

B. ?workers; 18

C. ?people; 16

D. ?graduates; 20

Question 11

Who in the following statements is a discouraged worker??

A. Nick is changing his job because he has had differences with his? co-workers in his current company.

B. Ned is available to work and has been sending job applications whenever he sees any suitable opportunity.

C. Dan is available to work but has not looked for a job in the past eight weeks because of repeated applications but no single offer.

D. Rachel does not find her current job profile interesting and is looking for alternate opportunities.

Question 12

Who in the following statements is a ?part-time worker for economic reasons??

A. Meryl recently retired from work and started working at the public library for a couple of hours on weekdays.

B. Sherrie is a graduate who started working at Safeway pharmacy for 4 hours each? day, three days a? week, as they do not currently have a? full-time opening.

C. Julie works at Bank of America for 8 hours each day from Monday through Friday.

D. Amy works at a community college for 6 hours each? day, only two days a? week, to be able to spend time with her kids.

Question 13

When the output gap is? positive, the unemployment rate? ______ the natural unemployment rate.

When the output gap is? negative, the unemployment rate? ______ the natural unemployment rate.

A.is greater? than; equals

B.is greater? than; is less than

C.is less? than; is greater than

D.?equals; is greater than

E.is less? than; equals

Question 14

The natural unemployment rate is not zero because natural unemployment includes? _______.

A.frictional and cyclical unemployment

B.discouraged workers

C.frictional and structural unemployment

D.cyclical and structural unemployment

E.cyclical unemployment

The unemployment rate fluctuates around the natural unemployment rate because? _______ during a recession and? ___________ during an expansion.

???

A.frictional unemployment? decreases; increases

B.frictional unemployment? increases; decreases

C.cyclical unemployment? decreases; increases

D.structural unemployment? increases; decreases

E.cyclical unemployment? increases; decreases

Question 15

Read the news? clip, then answer the following questions.

Michigan unemployment tops? 15%

The U.S. Department of Labor reported that? Michigan’s unemployment rate in June 2009 rose to? 15.2%, becoming the first state in 25 years to suffer an unemployment rate exceeding? 15%. Michigan has been battered by the collapse of the auto industry and the housing crisis and has had the highest unemployment rate in the nation for the past 12 months.

?Source: CNNMoney, July? 17, 2009

The unemployment rate in Michigan is higher than in most other states because? _____ unemployment in Michigan increased.

A.?structural, frictional, and cyclical

B.structural

C.frictional

D.cyclical and frictional

E.cyclical

The unemployment rate in Michigan is higher than normal because? _____ unemployment increased.

A.structural and cyclical

B.structural and frictional

C.cyclical

D.structural

E.frictional and cyclical

Question 16

Full employment is defined as a situation in which? _______.??

A.the unemployment rate equals the natural unemployment rate

B.all unemployment is cyclical

C.real GDP is greater than potential GDP

D.the unemployment rate is greater than the natural unemployment rate

Question 17

When cyclical unemployment increases and other things remain the? same, ______.

A.the amount of frictional unemployment increases

B.the natural unemployment rate increases

C.the natural unemployment rate does not change

D.the amount of structural unemployment decreases

Question 18

?Real-Time Data Analysis? Exercise*

The tables to the right show the unemployment rate and the natural unemployment rate from July 2016 to July 2017?, and real GDP ?, and potential GDP from the second quarter of 2016 to the second quarter of 2017.

In July 2017?, the U.S. the unemployment rate was? ______ the natural unemployment rate and in the second quarter of 2017 the output gap was? ______.

A.below?;negative

B.equal to?; positive

C.below?; zero

D.above?; negative

Date

Unemployment rate

Natural unemployment rate

?(percentage of labor? force)

Jul ?2016

4.9

4.8

Oct?2016

4.8

4.7

Jan?2017

4.8

4.7

Apr?2017

4.4

4.7

Jul?2017

4.3

4.7

Date

Real GDP

Potential GDP

?(billions of 2005? dollars)

2016, Q2

16,664

16,801

2016, Q3

16,778

16,864

2016, Q1

16,851

16,928

2017, Q4

16,903

16,992

2017, Q2

17,011

17, 058

Question 19

The natural unemployment rate is the unemployment rate when the economy is? _____.

A.not at full employment

B.facing high inflation

C.facing high interest rates

D.at full employment

Question 20

Full employment is when there is no? _____ unemployment? or, equivalently, when all the unemployment is? _____ or? _____.

A.?structural; frictional; natural

B.?frictional; structural; cyclical

C.?cyclical; structural; natural

D.?cyclical; frictional; structural

week 7 homework

Question 1
In January 2013?, currency and? traveler’s checks held by individuals and businesses was ?$1,101 ?billion; checkable deposits owned by individuals and businesses were ?$1,365 ?billion; savings deposits were ?$6,710 ?billion; small time deposits were ?$621 ?billion; and money market funds and other deposits were ?$652 billion.

Calculate M1 and M2 in January 2013.

M1 in January 2013 is ?$________billion.

M2 in January 2013 is ?$_____billion.

Question 2

In December2004?, M1 was ?$1,372 ?billion; M2 was ?$6,422 ?billion; checkable deposits owned by individuals and businesses were ?$667667 ?billion; small time deposits were ?$817 ?billion; and money market funds and other deposits were ?$713 billion.

Calculate currency held by individuals and businesses and? traveler’s checks in December2004?, and calculate savings deposits.

In December2004?, currency held by individuals and businesses and? traveler’s checks were ?$___________billion.

Savings deposits in December2004 were ?$___________ billion.

Question 3

Sara withdraws ?$1,500 from her checking account at Bank of? America, keeps ?$300 in? cash, and deposits the balance in her time deposit account at Citibank.

What is the immediate change in M1 and? M2?

A. M2 decreases by ?$1,200 and there is no change in M1.

B. M1 decreases by ?$300300 and M2 increases by ?$300.

C. M1 and M2 decrease by ?$1,200.

D. M1 decreases by ?$1,200 and there is no change in M2.

E. M1 decreases by ?$1,200 and M2 increases by ?$1,200.

Question 4

?*Real-time data provided by Federal Reserve Economic Data? (FRED), Federal Reserve Bank of Saint Louis.

The table shows the quantities of? M1, M2, and their components in July 2017 but with two items missing.

What are the missing? items?

A is ____________??

B is ___________

Amount

July 2017July 2017

?(billions of? dollars)

M2

13,602.2

Money market funds

680.8

A

364.4

Savings deposits

9,028.7

M1

3,528.3

Checkable deposits

2,040.6

B

1,487.7

Question 5

?Real-Time Data Analysis? Exercise*

?*Real-time data provided by Federal Reserve Economic Data? (FRED), Federal Reserve Bank of Saint Louis.

The table shows the quantities of? M1, M2, and their components in July 2017.

What is the largest component of? M1?

A.Savings deposits

B.Currency and? traveler’s checks

C.Checkable deposits

D.Small time deposits

What is the largest component of? M2?

A.Checkable deposits

B.Small time deposits

C.Money market funds

D.Savings deposits

Amount

July 2017July 2017

?(billions of? dollars)

M2

13,602.2

Money market funds

680.8

Small time deposits

364.4

Savings deposits

9,028.7

M1

3,528.3

Checkable deposits

2,040.6

Currency and? traveler’s checks

1,487.7

Question 6

The institutions that make up the banking system are? ______.

A.the U.S. Treasury?, money market funds?, the New York Stock Exchange?, and the Federal Reserve

B.thrift institutions?, the New York Stock Exchange?, the Federal Reserve?, and the Chicago Mercantile Exchange

C.the U.S. Treasury?, the world gold market?, the New York Stock Exchange?, and the Chicago Mercantile Exchange

D.thrift institutions?, money market funds?, commercial banks?, and the Federal Reserve

E.thrift institutions?, the world gold market?, money market funds?, and commercial banks

Question 7

A bank has the following deposits and? assets:

Checkable? deposits, ?$300??

Savings? deposits, ?$1,320

Small time? deposits, ?$575

Loans to? businesses, ?$1,790

Outstanding credit card? balances, ?$300

Government? securities, ?$100

?Currency, ?$5

Reserve account at the? Fed, ?$6

Calculate the? bank’s total deposits and the amount of deposits that are part of M1 and M2.

The? bank’s total deposits are ?$ ___________

Deposits that are part of M1 are ?$________

Deposits that are part of M2 are ?$___________

Question 8

Choose the statement that is incorrect.

A. A bank keeps only a small fraction of its funds in reserves and lends the rest.

B. A bank balances security for its stockholders against profit for its depositors.

C.The aim of a bank is to maximize their stockholders’ wealth.

D.Reserves are the currency in a bank’s vault plus the balance on it reserve account at a Federal Reserve Bank.

Question 9

Choose the correct statement about the Fed and the FOMC.

A.The Fed regulates financial institutions and markets and the FOMC is organized into 12 Federal Reserve districts.

B.The Fed is the U.S. federal government and the FOMC is the government’s operating management committee.

C.The Fed regulates financial institutions and the FOMC is the Fed’s main policy -making committee.

D.The Fed is the world central bank and the FOMC meets to review the state of the economy

E.The Fed is a federation of commercial banks and the FOMC is its management committee.

Question 10

The monetary base is the sum of? _______.

A. U.S. government securities held by the Fed and commercial banks

B.excess reserves held by the commercial banks

C.?coins, Federal Reserve? notes, and? banks’ reserves at the Fed

D.U.S. government securities and loans made by the Fed to commercial banks

E.money held by the regional federal reserve banks

Question 11

Suppose that at the end of December? 2009, banks’ reserves at the Fedbanks’$15 ?billion, Federal Reserve notes ?$750 ?billion, and the quantity of coins was ?$10 billion.

Calculate the monetary base in the United States.

The monetary base in the United States is ?$_____billion.

Question 12

If the Fed makes an open market purchase of? $1 million of? securities, the quantity of money? _____ by? $1 million multiplied by? _____.

A.increases?; the inverse of the required reserve ratio

B.increases?; the money multiplier

C.decreases?; the inverse of the required reserve ratio

D.increases?; the currency drain

E.decreases?; the required reserve ratio??

Desired reserve ratio? = ?R/D?; Currency drain ratio? = ?C/D?; Monetary base? = MB?; Quantity of money? = M.

If the Fed makes an open market purchase of? $1 million of? securities, the magnitude of the money multiplier is? _____.

A.?1/(?R/D? + ?C/D?)

B.R?/MB

C.?(1 + ?C/D?)/(?R/D? + ?C/D?)

D.?(?R/D? + ?C/D?)/(1 ?+ ?C/D?)

E.MB?/M

The sign of the money multiplier is? ______.

A.positive

B.negative

The quantity of money? ______.

A.increases

B.decreases

Question 13

A commodity or token is money if it is? _______.

A.used in a barter transaction

B.completely safe as a store of value

C.a store of value

D.generally accepted as means of payment

Question 14

The? Fed’s policy tools include all the following except ?_______.

A.required reserve ratio and open market operations

B.discount rate

C.taxing? banks’ deposits at the Fed

D.quantitative easing

Question 15

A commercial bank creates money when it does all the following except ?_______.

A.decreases its excess reserves

B.makes loans

C.puts cash in its ATMs

D.creates deposits

Question 16

Classify each of the following items as discretionary fiscal policy or automatic fiscal policy or neither.

__________A decrease in tax revenues in a recession

_________Additional government expenditure to upgrade highways

______________An increase in the public education budget

___________A cut in infrastructure expenditure during a boom

Question 17

Explain the change in aggregate demand when government expenditure on national defense increases by? $100 billion.

Aggregate demand? ______ by? ______ $100 billion.

A.?decreases; less than

B.?increases; less than

C.?decreases; more than

D.?increases; more than

E.?increases; exactly

Question 18

Explain how aggregate demand changes when the government increases taxes by? $100 billion.

Aggregate demand? ______ by? ______ $100 billion.

A.?decreases; exactly

B.?decreases; less than

C.?increases; more than

D.?decreases; more than

E.?increases; less than

Question 19

Suppose that the U.S. government increases its expenditure on highways and bridges by? $100 billion.

As a result of this? expenditure, aggregate demand? ______.

If the economy is in a? recession, real GDP? _______.

A.increases by more than? $100 billion because consumption expenditure increases in a multiplier? process;

increases

B.increases by more than? $100 billion because U.S. imports would decrease and people would spend more on? U.S.-produced goods and? services;

increases

C.increases by? $100 billion;

increases

D.increases by less than? $100 billion because consumption expenditure? decreases;

decreases

E.does not change because the increase in government expenditure would be matched by a decrease in private? expenditure;

does not change

Question 20

The? supply-side effects of a tax cut arise because taxes act as _________ to? work, save, and provide entrepreneurial services. ??

The? supply-side effects from an increase in government expenditure arise because government expenditure increases the quantities of _____________?, which increases potential GDP and aggregate supply.

?So, a tax cut increases? people’s ___________ to? work, to? save, and to provide entrepreneurial? services, all of which lead to an increase in aggregate supply and potential GDP.

Gudwriter Essay Writing