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ECO 372 Entire Course

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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 Worksheet (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 Paper (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 Economy

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 Paper (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 (New)

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 car-manufacturing plant in Flint, Michigan are laid off because the economy 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 whole.

§ 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 economic 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 differences from an economic point of view.

§ They have the same effects on output but investments in technology are much more closely tied to the level of saving than investments in capital.

§ They have different effects on output because of the positive externalities associated with investments in capital.

§ They have different effects on output because of the positive externalities 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 reserves, an increase in an initial inflow of $100 into the banking system will 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 will 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 economy?

§ In expectation of increased spending, too many entrepreneurs would begin 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 ineffective at keeping wages of members high.

§ Consumers might expect prices to fall further and cut back consumption 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 its saving will grow:

§ Quickly since the increase in saving will permit greater investment.

§ Quickly since the increase in saving will permit more rapid technological 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 future. 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

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ECO 372 Final Exam Guide

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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 and the government is called the 
 3) Real gross domestic product is best defined as 
 4) Underemployment includes people 
 A. who work “off-the-books” 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 following? 
 6) The Federal Reserve provides which of the following data?
 7) Consider if the government instituted a 10 percent income tax surcharge. In terms of the AS/AD model, this change should have
 8) If the depreciation of a country’s currency increases its aggregate expenditures 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 to
 10) Suppose that consumer spending is expected to decrease in the near 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 laissez-faire policy prescription to eliminate unemployment was to
 13) In the AS/AD model, an expansionary monetary policy has the greatest effect on the price level when it
 14) The Federal funds rate
 15) What tool of monetary policy will the Federal Reserve use to increase the federal funds rate from 1% to 1.25%?
 16) If the Federal Reserve increases the required reserves, financial institutions 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 supply 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 discount rate by 10 percentage points 
 18) If the Federal Reserve reduced its reserve requirement from 6.5 percent 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 the long run, a trade deficit is a problem becaus
 22) Considering an economy with a current trade deficit and considering 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 trade deficit, the
 27) If U.S. interest rates fall relative to Japanese interest rates and Japanese 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 example of
 30) Duties imposed by the U.S. government on imported Chinese frozen and canned shrimp are an example of

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ECO 372 Week 1 Discussion Question 1

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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

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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.

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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

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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

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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 budgeting because you will be making monthly payments.

Select a product in which the demand for the product is clearly affected by the strength or weakness of the overall economy such as new homes, cars, appliances, smart phones, etc.

Write a 1,050- to 1,400-word paper in which you address the following:

· Identify and define two economic indicators that reflect the strength of the economy (e.g. real GDP, unemployment rate, inflation rate, interest rate, housing starts, etc.).

· With these economic indicators in mind, how has the economy affected the demand for and supply of your selected product over the last 2 years?

· What was the impact on the supply of the product and the impact on the 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 considering purchasing?

o How do the concepts of macroeconomics help you understand the factors that affect shifts in supply and demand on the price of the product?

Cite a minimum of three peer-reviewed sources not including your textbook.

Click the Assignment Files tab to submit your assignment.

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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

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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?

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ECO 372 Week 3 Group Discussion Question

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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.

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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 1,750-word paper in which you include the following:

· Research federal government spending and taxes over the last 3–5 years (fiscal policy). Has total government spending increased or decreased? 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 organization.

· 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 next 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 textbook.

Click the Assignment Files tab to submit your assignment.

Related Tutorials

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ECO 372 Week 4 Discussion Question 1

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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?

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ECO 372 Week 4 Group Discussion Question

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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 1,400-word 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 does the Federal Reserve do to contract the economy?

· What motivates policymakers to stimulate the economy or contract the 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 your 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 textbook.

Click the Assignment Files tab to submit your assignment.

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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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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.

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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 18-slide PowerPoint® presentation including detailed speaker notes in which you include the following:

· Research the direction of monetary policy over the last 3–5 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 selected organization.

· Have events in the economies of other countries impacted the U.S. economy? 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 organization?

· 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.

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