ECON 312 Entire Course NEW Principles of Economics DeVryhttp://www.hiqualitytutorials.com/product/econ-312-entire-course-new-principles-of-economics-devry/ECON 312 Assignment Week 1 DeVryhttp://www.hiqualitytutorials.com/product/econ-312-assignment-week-1-devry/(TCO 1) Economics is the study of (Points : 1)Increasing the level of productive resources so there is maximum output in society.Increasing the level of productive resources so there is a minimum level of income.How people, institutions, and society make choices under conditions of scarcity.The efficient use of scarce resources paid for at the minimum level of cost to consumers and businesses(TCO 1) The key economic concept that serves as the basis for the study of economics is (Points : 1)InflationUnemployment.Moneyscarcity (TCO 1) From an economic perspective, when a student decides to attend another year of college, the student has concluded that the marginal (Points : 1)Costs of attending college has decreased that year.Benefits of attending college has increased that year.Benefits of attending college are greater than the marginal costs.Costs of attending college will be subsidized by someone else such as parents or the government.(TCO 1) Which is considered to be an economic resource by economists? (Points : 1)RentMoneyLaborWages(TCO 1) If an economy is producing at a point inside a production possibilities curve, then (Points : 1)The economy is efficientThere is economic growth.Resources are unemployed.Resources are fully employed.(TCO 1) Which statement best describes a command economy? (Points : 1)The production of goods and services is determined primarily by markets, but the allocation of goods and services is determined primarily by government.The production of goods and services is determined primarily by government, but the allocation of goods and services is determined primarily by markets.The production and allocation of goods and services is determined primarily through markets.The production and allocation of goods and services is determined primarily through government.(TCO 1) The development of CDs and DVDs that significantly reduced the market for cassette tapes would be an example of (Points : 1)Specialization.Derived demand.

Roundabout production.Creative destruction.(TCO 1) In the circular flow model, households (Points : 1)Buy products and resources.Sell products and resources.Buy products and sell resources.Sell products and buy resources.(TCO 1) In a market system, well-defined property rights are important because they (Points : 1)Reduce unnecessary investment.Limit destructive economic growth.Create economic problems.Encourage economic activity.(TCO 1) Consider a barter situation where you have pens and you want pencils. To achieve your objective, there must be a(n) (Points : 1)Use of capital goods.Entry and exit from the market.Large number of sellers.Coincidence of wants.(TCO 1) After graduating from high school, Ron Willis plans to go to college. The college tuition is $15,000 a year. But, instead of going to college, Ron could take a full-time job paying $20,000. If Ron decides to go to college, what is his opportunity cost for attending for one year? Show your calculations. (Points : 5)(TCO 1) Identify some intrinsic qualities of capitalist and command economic systems. Identify two countries that practice each. (Points : 5)ECON 312 Assignment Week 2 DeVryhttp://www.hiqualitytutorials.com/product/econ-312-assignment-week-2-devry/(TCO 2) A demand curve (Points : 1)Shows the relationship between price and quantity suppliedIndicates the quantity demanded at each price in a series of prices.Graphs as an upsloping line.Shows the relationship between income and spending.(TCO 2) Which of the following will not cause the demand for product K to change? (Points : 1)A change in the price of close-substitute product JAn increase in consumer incomesA change in the price of KA change in consumer tastes(TCO 2) College students living off campus frequently consume large amounts of ramen noodles and boxed macaroni and cheese. When they finish school and start their careers, their consumption of both goods frequently declines. This suggests that ramen noodles and boxed macaroni and cheese are (Points : 1)Inferior goodsNormal goodsComplementary goodsSubstitute goods

(TCO 2) Suppose that tacos and pizza are substitutes and that soda and pizza are complements. We would expect an increase in the price of pizza to (Points : 1)Reduce the demand for tacos and increase the demand for sodasReduce the demand for soda and increase the demand for tacosIncrease the demand for both soda and tacosReduce the demand for both soda and tacos(TCO 2) A firm's supply curve is upsloping because (Points : 1)The expansion of production necessitates the use of qualitatively inferior inputs.Mass production economies are associated with larger levels of outputConsumers envision a positive relationship between price and quality.Beyond some point the production costs of additional units of output will rise(TCO 2) If the demand for bacon is relatively elastic, a 10% decline in the price of bacon will (Points : 1)Decrease the amount demanded by more than 10%.Increase the amount demanded by more than 10%.Decrease the amount demanded by less than 10%.Increase the amount demanded by less than 10%.(TCO 2) The price of product X is reduced from $100 to $90 and, as a result, the quantity demanded increases from 50 to 60 units. Therefore, demand for X in this price range (Points : 1)has declinedis of unit elasticityis inelasticis elastic(TCO 2) The concept of price elasticity of demand measures (Points : 1)The slope of the demand curve.The number of buyers in a marketThe extent to which the demand curve shifts as the result of a price declineThe sensitivity of consumer purchases to price changes(TCO 2) If the University Chamber Music Society decides to raise ticket prices to provide more funds to finance concerts, the Society is assuming that the demand for tickets is (Points : 1)Parallel to the horizontal axisShifting to the leftInelasticElastic(TCO 2) The demand for autos is likely to be (Points : 1)Less price elastic than the demand for Honda AccordsMore price elastic than the demand for Honda AccordsOf the same price elasticity as the demand for Honda AccordsPerfectly inelastic(TCO 2) What is the Law of Demand? Why does the demand curve slope downwards? (Points : 5)The Law of Demand is the same thing as…(TCO 2) Suppose the price of widgets rises from $7 to $9 and consumption of widgets falls from 25 widgets a month to 15 widgets. Calculate your price elasticity of demand of

widgets. What can you say about your price elasticity of demand of widgets? Is it Elastic, Inelastic, or Unitary Elastic? Why? Use the Midpoint formula and please show your work. (Points : 5)Relatively Elastic because 2.0 > 1….

ECON 312 Assignment Week 3 DeVryhttp://www.hiqualitytutorials.com/product/econ-312-assignment-week-3-devry/(TCO 3) Which of the following is most likely to be an implicit cost for Company X? (Points : 1)Forgone rent from the building owned and used by Company XRental payments on IBM equipmentPayments for raw materials purchased from Company YTransportation costs paid to a nearby trucking firm(TCO 3) To economists, the main difference between the short run and the long run is that (Points : 1)The law of diminishing returns applies in the long run, but not in the short run.In the long run all resources are variable, while in the short run at least one resource is fixedFixed costs are more important to decision making in the long run than they are in the short runIn the short run all resources are fixed, while in the long run all resources are variable.(TCO 3) Economists would describe the U.S. automobile industry as (Points : 1)Purely competitiveAn oligopolyMonopolistically competitiveA pure monopoly(TCO 3) If a firm in a purely competitive industry is confronted with an equilibrium price of $5, its marginal revenue (Points : 1)May be either greater or less than $5.Will also be $5Will be less than $5Will be greater than $5(TCO 3) Which of the following is a characteristic of pure monopoly? (Points : 1)Close substitute productsBarriers to entryThe absence of market power"Price taking"(TCO 3) Confronted with the same unit cost data, a monopolistic producer will charge (Points : 1)The same price and produce the same output as a competitive firmA higher price and produce a larger output than a competitive firmA higher price and produce a smaller output than a competitive firmA lower price and produce a smaller output than a competitive firm(TCO 3) Under monopolistic competition entry to the industry is (Points : 1)Completely free of barriersMore difficult than under pure competition but not nearly as difficult as under pure monopolyMore difficult than under pure monopolyBlocked

(TCO 3) The term oligopoly indicates (Points : 1)A one-firm industryMany producers of a differentiated productA few firms producing either a differentiated or a homogeneous productAn industry whose four-firm concentration ratio is low(TCO 3) Which of the following is a unique feature of oligopoly? (Points : 1)Mutual interdependenceAdvertising expendituresProduct differentiationNonprice competition(TCO 3) Concentration ratios measure the (Points : 1)Geographic location of the largest corporations in each industryDegree to which product price exceeds marginal cost in various industriesPercentage of total industry sales accounted for by the largest firms in the industryNumber of firms in an industry(TCO 3) What is the LAW OF DIMINISHING RETURNS, and why is this law considered a short-run phenomenon? (Points : 5)The law of diminishing returns assumes that technology is…(TCO 3) Identify the primary characteristics of monopolistic competition and oligopoly. Give examples of each. (Points : 5)A monopolistic competition represents the opposite…ECON 312 Antitrust Practices and Market Power Homework Week 3 DeVryhttp://www.hiqualitytutorials.com/product/econ-312-antitrust-practices-and-market-power-homework-week-3-devry/

Research authoritative articles using the news and the DeVry Online Library (http://library.devry.edu) for a recent case of antitrust investigation. You are free to choose a case from any industry and any part of the world. Based on the case you have selected, answer the following questions.

1. Why was/were the firm(s) investigated for antitrust behavior?2. Identify some of the costs (pecuniary and nonpecuniary) associated with the antitrust

behavior (firms having power in the market). Additionally, note the specific antitrust act (Sherman Act, Clayton Act, etc.) under which the violation was investigated.

3. Given your research and findings, are monopolies and oligopolies (firms demonstrating power) always bad for society? Be sure to provide real world examples of where this may be the case to strengthen your position.

4. Provide at least one example of a case where having a monopoly or oligopoly may actually benefit the society.

Preview:1. Antitrust Cases: Standard Oil and Google Up until 1909-1911, Standard Oil was considered as the biggest, most dominant and most profitable oil business in the United States of America owned through a…2. Why were the firms found in violation / being investigated for antitrust behavior?Given the above sample cases, one might ask, so what is wrong with being the biggest, most dominant, or richest company in any…

3. Identify some of the costs (pecuniary and nonpecuniary) associated with the antitrust behavior (firms having power in the market). Additionally, note the specific antitrust act (Sherman Act, Clayton Act, etc.) under which the violation was investigated.

Among the primary activities prohibited under antitrust laws are monopolies, price fixing, and predatory practices (i.e., pecuniary). It also covers…4. Given your research and findings, are monopolies and oligopolies (firms demonstrating

power) always bad for society? Be sure to provide real world examples of where this may be the case to strengthen your position.

Monopoly is a market structure dominated by one firm whereas oligopoly--with few firms. Due to a firm’s market dominance, it is…5. Provide at least one example of a case where having a monopoly or oligopoly may

actually benefit the society.In some cases, there are certain industries that require intensive capital investment that only few firms are able to…

ECON 312 Midterm Exam DeVryhttp://www.hiqualitytutorials.com/product/econ-312-midterm-exam-devry/(TCO 1) As a consequence of the condition of scarcity (Points : 3)There is never enough of anythingProduction has to be centrally plannedThings which are plentiful have relatively high pricesIndividuals and communities have to make choices from among alternatives(TCO 1) The opportunity cost of constructing a new public highway is the (Points : 3)Money cost of hiring contractors and construction workers for the new highwayValue of other goods and services that must be sacrificed to construct the new highwayExpected cost of constructing the new highway in a future yearValue of shorter driving times and distances when the new highway is completed(TCO 1) A nation can increase its production possibilities by (Points : 3)Shifting resources from investment good production to consumer good productionShifting resources from private goods to public goodsImproving labor productivityEliminating discrimination(TCO 1) Which expression is another way of saying "marginal benefit"? (Points : 3)Benefits given upUnintended gainEmployment benefitsExtra benefit(TCO 1) Which would not be considered as a capital resource of a business by an economist? (Points : 3)A van used by a mother to transport the family aroundAn office computer used by an accountantA crane used by a building contractorA razor used by a barber(TCO 1) The Soviet Union economy of the 1980s would best be classified as (Points : 3)A market systemPure capitalism

Laissez-faire capitalismA command system(TCO 1) Markets in which firms sell their output of goods and services are called (Points : 3)Resource marketsProduct marketsCommand marketsMixed markets(TCO 1) By free enterprise, we mean that (Points : 3)Products are provided free to those who can't afford to buy themIndividuals may obtain resources, organize production, and sell the resulting output in any legal way they chooseIndividual producers are free to produce whatever the government decides is needed by the society.Individuals are free to buy whatever products will satisfy their needs the most(TCO 1) Which is one of the five fundamental questions that need to be dealt with in any economic system? (Points : 3)What makes the rate of unemployment low?Who will be the richest group in the economy?What goods and services will be produced?How high should the prices of goods and services be?(TCO 1) A major problem with state ownership of resources is that it does not (Points : 3)Allow for the full use of central economic planningLet state enterprises buy resources used to make productsLet state enterprises sell products produced with those resourcesGive incentives for individuals to make the best use of those resources(TCO 2) An increase in product price will cause: (Points : 3)Quantity demanded to decreaseQuantity supplied to decreaseQuantity demanded to increaseThe supply curve to shift to the left(TCO 2) At the point where the demand and supply curves intersect (Points : 3)The buying and selling decisions of consumers and producers are inconsistent with one another.The market is in disequilibrium.There is neither a surplus nor a shortage of the productQuantity demanded exceeds quantity suppliedQuestion 13.13. (TCO 2) If an effective price ceiling is placed on hamburgers then (Points : 3)The quantity demanded will exceed the quantity suppliedA black market for hamburger may evolveConsumers may want government to ration hamburgerAll of these are likely outcomes(TCO 2) An increase in demand for oil along with a simultaneous increase in supply of oil will (Points : 3)Decrease price and increase quantityIncrease price and decrease quantity

Increase quantity, but whether it increases price depends on how much each curve shiftsIncrease price, but whether it increases quantity depends on how much each curve shifts(TCO 2) Two months ago, the Marbury Shirt company sold 200 shirts at $30 per shirt.  Last month, the company raised its price to $35 per shirt and sold 300 shirts.  Evidently the company experienced a(n) (Points : 3)Decrease in demandIncrease in demandDecrease in supplyIncrease in supply(TCO 2) When the price of a product is increased 10 percent, the quantity demanded decreases 15 percent.  In this range of prices, demand for this product is (Points : 3)ElasticInelasticcross-elasticunitary elastic(TCO 2) Demand is said to be inelastic when (Points : 3)An increase in price results in a reduction in total revenueA reduction in price results in an increase in total revenueA reduction in price results in a decrease in total revenueThe elasticity coefficient exceeds one(TCO 2) The price elasticity of demand increases with the length of the period considered because (Points : 3)Consumers' incomes will increase over timeThe demand curve will shift outward as time passesAll prices will increase over timeConsumers will be better able to find substitutes(TCO 2) If the demand for a product is elastic, then (Points : 3)A higher tax on the product will generate more tax revenueA higher tax on the product will generate less tax revenueTotal revenue will decrease as price decreasesTotal revenue will remain constant as price increases(TCO 2) When universities announce a large tuition increase and follow it with an announcement that more financial aid will be available, they are assuming that students who pay full tuition (Points : 3)Have elastic demand and students who use financial aid have inelastic demandHave inelastic demand and students who use financial aid have elastic demandView a college education as an inferior good and students who use financial aid view it as a normal goodView a college education as a normal good and students who use financial aid view it as an inferior good(TCO 3) Suppose that you could prepare your own tax return in 15 hours, or you could hire a tax specialist to prepare it for you in two hours.  You value your time at $11 an hour.  The tax specialist will charge you $55 an hour.  The opportunity cost of preparing your own tax return is (Points : 3)$40$55

$110$165(TCO 3) If a firm's revenues just cover all its opportunity costs, then (Points : 3)Normal profit is zeroEconomic profit is zeroTotal revenues equal its explicit costsTotal revenues equal its implicit costs(TCO 3) In the short run (Points : 3)A firm cannot vary its output levelAll factors of production can be variedA firm can change its fixed inputsOutput is raised or reduced by changing the levels of variable inputs(TCO 3) Fixed costs are those costs which are (Points : 3)Zero if the firm produces no output in the short runUnchanging through timeIndependent of the rate of outputImplicit to a competitive firm(TCO 3) The phrase "don't cry over spilt milk" could be rephrased in economic terms by saying (Points : 3)"Sunk costs are irrelevant to a decision.""Real resources have opportunity costs.""There are economies and diseconomies of scale.""The law of diminishing returns applies to everything."(TCO 3) If you know that total fixed cost is $200, total variable cost is $600, and total product is four units, then average total cost must be: (Points : 3)$200$250$800$3200Page 2 (TCO 3) In which market model would there be a unique product for which there are no close substitutes? (Points : 3)Monopolistic competitionPure competitionPure monopolyOligopoly(TCO 3) In which two market models would advertising be used most often? (Points : 3)Pure competition and monopolistic competitionPure competition and pure monopolyMonopolistic competition and oligopolyPure monopoly and oligopoly(TCO 3) The steel and automobile industries would be examples of which market model? (Points : 3)Monopolistic competitionPure competitionPure monopoly

Oligopoly(TCO 3) In pure competition, the demand for the product of a single firm is perfectly (Points : 3)Elastic because the firm produces a unique productInelastic because the firm produces a unique productElastic because many other firms produce the same productInelastic because many other firms produce the same product(TCO 3) Let us suppose Harry's, a local supplier of chili and pizza, has the following revenue-and-cost structure: Total Revenue $3,000 Per Week Total Variable Cost  $2,000 Per Week Total Fixed Costs  $2,000 Per Week(Points : 3)Harry's should stay open in the long runHarry's should shut down in the short runHarry's should stay open in the short runHarry's should shut down in the short run but reopen in the long run(TCO 3) If a purely competitive firm is producing at an output where marginal revenue exceeds marginal cost, the firm will increase its profit by (Points : 3)Reducing production to the point where variable costs are minimizedReducing production to the point where unit costs are minimizedReducing its output and simultaneously increasing its priceIncreasing its output(TCO 3) The short-run supply curve for a competitive firm is the (Points : 3)Entire MC curveSegment of the MC curve lying below the AVC curveSegment of the MC curve lying above the AVC curveSegment of the AVC curve lying to the right of the MC curve(TCO 3) Which phrase would be most characteristic of pure monopoly? (Points : 3)Close substitutesEfficient advertiserPrice takerSingle seller(TCO 3) Barriers to entry (Points : 3)usually result in pure competitioncan result from government regulationexist in economic theory but not in the real worldare typically the result of wrongdoing on the part of a firm(TCO 3) The nondiscriminating pure monopolist must decrease price on all units of a product sold in order to sell more units.  This explains why (Points : 3)there are barriers to entry in pure monopolya monopoly has a perfectly elastic demand curvemarginal revenue is less than average revenuetotal revenues are greater than total costs at the profit-maximizing level of output(TCO 3) Which case below best represents a case of price discrimination? (Points : 3)An insurance company offers discounts to safe drivers

A major airline sells tickets to senior citizens at lower prices than to other passengersA professional baseball team pays two players with identical batting averages different salariesA utility company charges less for electricity used during "off-peak" hours, when it does not have to operate its less-efficient generating plants(TCO 3) Which of the following is a characteristic of monopolistic competition? (Points : 3)Standardized productRelatively small number of firmsAbsence of nonprice competitionRelatively easy entry(TCO 3) Which set of characteristics below best describes the basic features of monopolistic competition? (Points : 3)Easy entry, many firms, and standardized productsBarriers to entry, few firms, and differentiated productsEasy entry, many firms, and differentiated productsEasy entry, few firms, and standardized products(TCO 3) A unique feature of an oligopolistic industry is (Points : 3)low barriers to entrystandardized productsdiminishing marginal returnsmutual interdependence(TCO 3) A high concentration ratio indicates that (Points : 3)the industry is highly profitablethe industry is highly competitivemany firms produce most of the output in an industryfew firms produce most of the output in an industry(TCO 3) A major reason that firms form a cartel is to (Points : 3)reduce the elasticity of demand for the productenlarge the market share for each producerminimize the costs of productionmaximize joint profits(TCO 1) Which of the following is a land resource? (Points : 3)A farmerAn oil-drilling rigA machine for detecting earthquakesNatural gas(TCO 1) Refer to the diagram below which is based on the Circular Flow Model in Chapter 2.  Arrows (1) and (2) representGraph Description(Points : 3)Goods and resources, respectivelyMoney incomes and output, respectivelyOutput and money incomes, respectivelyResources and goods, respectively(TCO 2) Refer to the diagram.  A decrease in demand is depicted by aGraph Description(Points : 3)

move from Point x to Point yshift from D1 to D2shift from D2 to D1move from Point y to Point x(TCO 2) Refer to the information and assume the stadium capacity is 5,000.  If the Mudhens' management charges $7 per ticketPrice per Ticket Quantity Demanded

 $13  1,000 11  2,000 9  3,000 7  4,000 5  5,000 3  6,000

(Points : 3)

Some fans who want to see the game will find that tickets are not availableThere will be 2,000 empty seatsThere will be 1,000 empty seatsThe game will be sold out(TCO 2) Which of the following goods (with their respective income-elasticity coefficients in parentheses) will most likely suffer a decline in demand during a recession?(Points : 3)Dinner at a nice restaurant (+1.8)Chicken purchased at the grocery store for preparation at home (+0.25)Facial tissue (+0.6)Plasma-screen and LCD TVs (+4.2)(TCO 3) In the figure, Curves 1, 2, 3, and 4 represent theGraph Description(Points : 3)ATC, MC, AFC, and AVC curves, respectivelyMC, AFC, AVC, and ATC curves, respectivelyMC, ATC, AVC, and AFC curves, respectivelyATC, AVC, AFC, and MC curves, respectively(TCO 1) Refer to the diagram.  Points A, B, C, D, and E showGraph Description(Points : 3)That the opportunity cost of bicycles increases, while that of computers is constantCombinations of bicycles and computers that society can produce by using its resources efficientlyThat the opportunity cost of computers increases, while that of bicycles is constantThat society's demand for computers is greater than its demand for bicycles(TCO 3) Any activity designed to transfer income or wealth to a particular individual or firm at society's expense is called (Points : 3)Patent protectionX-inefficiencyPrice discriminationRent-seeking

(TCO 3) a.) What is the relationship between economies of scale and a natural monopoly?  b.) Why is the level of output at which marginal revenue equals marginal cost the profit-maximizing output? (Points : 25)In those extreme cases where there are extensive economies of scale across the full range of potential output for market demand, it may be…(TCO 2) Evaluate how the following situations will affect the demand curve for iPods.

(a) Income statistics show that income of 18–25-year-olds have increased by 10 percent over the last year.

(b) Efforts of music artists wanting greater protection of their music result in more stringent enforcement of copyrights and the shutdown of numerous illegal downloading sites.

(c) Believing that it has significant control of the market for portable digital music players, Apple decides to raise the price of iPods with the goal of increasing profits.

(d) The price of milk decreases.(Points : 25)(a) Since 18-to-25-year-olds are the main users of portable digital music players, this will increase the demand for iPods….ECON 312 Assignment Week 5 DeVryhttp://www.hiqualitytutorials.com/product/econ-312-assignment-week-5-devry/(TCO 6) Discretionary fiscal policy refers to (Points : 1)Any change in government spending or taxes that destabilizes the economyThe authority that the President has to change personal income tax rates.Intentional changes in taxes and government expenditures made by Congress to stabilize the economyThe changes in taxes and transfers that occur as GDP changes.(TCO 6) An economist who favors smaller government would recommend (Points : 1)Tax cuts during recession and reductions in government spending during inflation.Tax increases during recession and tax cuts during inflation.Tax cuts during recession and tax increases during inflation.Increases in government spending during recession and tax increases during inflation.(TCO 6) The financing of a government deficit increases interest rates and, as a result, reduces investment spending. This statement describes (Points : 1)The supply-side effects of fiscal policy.Built-in stability.The crowding-out effect.The net export effect(TCO 5) Which of the following would not shift the aggregate supply curve? (Points : 1)An increase in labor productivityA decline in the price of imported oilA decline in business taxes An increase in the price level(TCO 6) Menu costs (Points : 1)Increase during recessionDecrease during recession.Are the costs to firms of changing prices and communicating them to customers

Are sunk costs and therefore should be disregarded(TCO 6) The consumption schedule directly relates (Points : 1)Consumption to the level of disposable incomeSaving to the level of disposable income.Disposable income to domestic income.Consumption to saving.(TCO 6) The size of the MPC is assumed to be (Points : 1)Less than zeroGreater than one.Greater than zero, but less than one.Two or more.(TCO 5) Refer to the graph. Which of the following factors will shift AD1 to AD2? Graph Description(Points : 1)A decrease in the general price levelAn increase in real interest ratesAn increase in national incomes abroadA decrease in the value of financial assets(TCO 6) The practical significance of the multiplier is that it (Points : 1)Equates the real interest rate and the expected rate of return on investment.Magnifies initial changes in spending into larger changes in GDP.Keeps inflation within tolerable limits.Helps to stabilize the economy.(TCO 5) The Federal budget deficit is found by (Points : 1)Subtracting government tax revenues plus government borrowing from government spending in a particular year.Subtracting government tax revenues from government spending in a particular year.Cumulating the differences between government spending and tax revenues over all years since the nation's founding.Subtracting government revenues from the noninvestment-type government spending in a particular year.(TCO 5) What effect would each of the following have on aggregate demand or aggregate supply? Explain.a. A decrease in real interest rates paid by the consumerb. An increase in Labor Productivity as a result of a better-educated population(Points : 5)(TCO 6) Why do some economists believe that tax cuts are critical to help revive an economy experiencing a recession? (Points : 5)ECON 312 Homework Assignment Week 6 DeVryhttp://www.hiqualitytutorials.com/product/econ-312-homework-assignment-week-6-devry/

Question: What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.)? What fiscal policies and monetary policies would be appropriate at this time?Preview:

Based on the recent report1 of Bureau of Economic Analysis (BEA), US’ GDP declined slightly in the first quarter of 2015 by 0.7 percent, compared to its fourth quarter growth in 2014 of 2.2 percent. The decline is attributed to: (a) goods exports, specifically capital…ECON 312 Assignment Week 6 DeVryhttp://www.hiqualitytutorials.com/product/econ-312-assignment-week-6-devry/(TCO 7) If you place a part of your summer earnings in a savings account, you are using money primarily as a (Points : 1)Medium of exchangeStore of valueUnit of accountStandard of value(TCO 7) Currency held in the vault of First National Bank is (Points : 1)Counted as part of M1

Counted as part of M2, but not M1

Only counted as part of M1 if it was deposited into a checking accountNot counted as part of the money supply(TCO 7) Answer the question on the basis of the following list of assets:

1. Large-denominated ($100,000 and more) time deposits 2. Noncheckable savings deposits 3. Currency (coins and paper money) in circulation 4. Small-denominated (less than $100,000) time deposits 5. Stock certificates 6. Checkable deposits 7. Money market deposit accounts 8. Money market mutual fund balances held by individuals 9. Money market mutual fund balances held by businesses 10. Currency held in bank vaults

 Refer to the above list.  The M1 definition of money comprises item(s)(Points : 1)6 only3, 4, and 63 and 6.3, 6, and 10(TCO 7) Assume Company X deposits $100,000 in cash in Commercial Bank A.  If no excess reserves exist at the time this deposit is made and the reserve ratio is 20 percent,  Bank A, by itself, can initially increase the money supply by a maximum of (Points : 1)$50,000$180,000$80,000$500,000(TCO 7) A bank temporarily short of required reserves may be able to remedy this situation by (Points : 1)Borrowing funds in the federal funds marketGranting new loansShifting some of its vault cash to its reserve account at the Federal Reserve

1

Buying bonds from the public(TCO 7) Money is destroyed when (Points : 1)Loans are madeChecks written on one bank are deposited in another bankLoans are repaidThe net worth of the banking system declines(TCO 7) The transactions demand for money is most closely related to money functioning as a (Points : 1)Unit of accountMedium of exchange.Store of valueMeasure of value(TCO 7) If the quantity of money demanded exceeds the quantity supplied (Points : 1)The supply-of-money curve will shift to the leftThe demand-for-money curve will shift to the rightThe interest rate will riseThe interest rate will fall.(TCO 7) Which of the following is not a tool of monetary policy? (Points : 1)Open market operationsChanges in banking lawsChanges in the amount of reserves available at the term auction facilityChanges in the reserve ratio(TCO 7) A restrictive monetary policy is designed to shift the: (Points : 1)Aggregate demand curve rightwardAggregate demand curve leftwardAggregate supply curve rightwardAggregate supply curve leftward(TCO 7) Explain what is meant by fractional reserve banking. Relate this to money creation and risk to the bank. (Points : 5)(TCO 7) Identify the four major instruments of monetary policy. (Points : 5)ECON 312 Assignment Week 7 DeVryhttp://www.hiqualitytutorials.com/product/econ-312-assignment-week-7-devry/(TCO 8) The United States' most important trading partner quantitatively is (Points : 1)ChinaCanadaMexicoJapan(TCO 8) The World Trade Organization (Points : 1)Is also known as the International Monetary Fund (IMF).Is also known as NAFTA.Was established to resolve disputes arising under world trade rules.Enhances world trade by providing interest rate subsidies to foreign borrowers who buy exports on credit.(TCO 9) Which of the following is not included in the current account of a nation's balance of payments? (Points : 1)Its goods exports

Its goods importsIts net investment incomeIts purchases of real assets abroad(TCO 9) If the dollar price of the yen rises, then (Points : 1)The yen price of dollars also risesThe dollar depreciates relative to the yenThe yen depreciates relative to the dollarThe dollar will buy fewer U.S. goods(TCO 9) In recent years, the United States has had large (Points : 1)Current account surplusesCapital and financial account deficitsBalance-of-trade deficitsBalance-of-payments surpluses(TCO 9) When the U.S. dollar decreases in value relative to foreign currencies the: (Points : 1)Demand for U.S. exports will decreaseSupply of U.S. exports will decreaseDemand for U.S. exports will increaseSupply of U.S. exports will remain constant(TCO 8) Other things equal, economists would prefer (Points : 1)Free trade to tariffs and tariffs to import quotasFree trade to import quotas and import quotas to tariffsImport quotas to tariffs and tariffs to voluntary export restrictionsImport quotas to free trade and free trade to tariffs(TCO 8) Refer to the graphs below.  Stanville has a comparative advantage in producing 

Graph Description(Points : 1)Product AProduct B.Both Product A and BNeither Product A nor B(TCO 9) Which one of the following is not one of the so-called G8 Nations? (Points : 1)JapanCanadaUnited StatesChina(TCO 8) In recent years the United States has (Points : 1)Exported more services abroad than it has importedHad a small goods trade surplus with JapanHad a large goods trade surplus with the rest of the worldMaintained an overall trade surplus (goods and services combined) with the rest of the world(TCO 8 and 10) Evaluate this argument for a trade barrier: “The U.S. needs protection from cheap foreign labor.” Include some reasons why this might be an invalid statement. (Points : 5)The argument is flawed on several grounds.  First, U.S. consumers benefit from being able to…

(TCO 9) What are the economic effects of a depreciation of the US dollar on US trade balances? (Points : 5)Depreciation means that it takes more dollars to buy foreign currencies.  This means that…ECON 312 Final Exam DeVryhttp://www.hiqualitytutorials.com/product/econ-312-final-exam-devry/(TCO 1) Opportunity cost is best defined as (Points : 4)marginal cost minus marginal benefitthe time spent on an economic activitythe value of the best forgone alternativethe money cost of an economic decision(TCO1) Which is not a factor of production? (Points : 4)MoneyLandLaborCapital(TCO1) A point inside the production possibilities curve is (Points : 4)Attainable and the economy is efficientAttainable, but the economy is inefficientUnattainable, but the economy is inefficientUnattainable and the economy is efficient(TCO1) A basic characteristic of a command system is that (Points : 4)Wages paid to labor are higherGovernment owns most economic resourcesFree markets are never permitted in a command economyGovernment planners play a limited role in deciding what goods will be produced(TCO 2) Which is consistent with the law of demand? (Points : 4)A decrease in the price of tacos causes no change in the quantity of tacos demandedAn increase in the price of pizza causes an increase in the quantity of pizza demandedAn increase in the price of hamburgers causes a decrease in the quantity of hamburgers demandedA decrease in the price of turkey sandwiches causes a decrease in the quantity of turkey sandwiches demanded(TCO 2) What combination of changes would most likely decrease the equilibrium price? (Points : 4)When supply decreases and demand increasesWhen demand increases and supply increasesWhen demand decreases and supply decreasesWhen supply increases and demand decreases(TCO 2) Chuck Grim has a price elasticity of demand for beer of 1.2.  Suppose that the price of beer is increased by 10 percent.  What will happen to the total amount Chuck spends on beer? (Points : 4)It will not changeIt will decreaseIt will increaseIt is impossible to tell

(TCO 2) Which of the following factors will make the demand for a product relatively elastic? (Points : 4)There are few substitutesThe time interval considered is longThe good is considered a necessityPurchases of the good require a small portion of consumers' budgets(TCO 2) A purely competitive firm's output is such that its marginal cost is $4 and marginal revenue is $5. Hint: remember that MR = P for Pure Competition and the Profit Maximizing rule. Assuming profit maximization, the firm should (Points : 4)Cut its price and raise its outputRaise its price and cut outputLeave price unchanged and raise outputLeave price unchanged and cut output(TCO 2) Which case below best represents a case of price discrimination? (Points : 4)An insurance company offers discounts to safe driversA major airline sells tickets to senior citizens at lower prices than to other passengersA professional baseball team pays two players with identical batting averages different salaries.A utility company charges less for electricity used during "off-peak" hours, when it does not have to operate its less-efficient generating plants.(TCO 3) In the kinked demand model of oligopoly, if one firm increases its price, the most likely reaction of the other firms will be to (Points : 4)Decrease their pricesIncrease their pricesNot change their pricesReduce their quantity(TCO 3) The main difference between the short run and the long run is that (Points : 4)Firms earn zero profits in the long runThe long run always refers to a time period of one year or longerIn the short run, some inputs are fixedIn the long run, all inputs are fixed(TCO 4) A recession is a decline in (Points : 4)The inflation rate that lasts six months or longerThe unemployment rate that lasts six months or longerReal GDP that lasts six months or longerPotential GDP that lasts six months or longer(TCO 4) In calculating the unemployment rate, part-time workers are (Points : 4)Counted as unemployed because they are not working full-timeCounted as employed because they are receiving payment for workUsed to determine the size of the labor force, but not the unemployment rateTreated the same as "discouraged" workers who are not actively seeking employment(TCO 4) Adding the market value of all intermediate goods and services to those of final goods and services in an economy in a given year would result in (Points : 4)The calculation of GDP for that yearThe calculation of NDP for that yearAn amount less than GDP for that yearAn amount greater than GDP for that year

(TCO 4) Nominal GDP differs from real GDP because (Points : 4)Nominal GDP is based on constant pricesReal GDP is based on current pricesReal GDP is adjusted for changes in the price levelNominal GDP is adjusted for changes in the price level(TCO 6) When the federal government uses taxation and spending actions to stimulate the economy it is conducting (Points : 4)Fiscal policyIncomes policyMonetary policyEmployment policy(TCO 6) Refer to the graph.  What combination would most likely cause a shift from AD1 to AD2? 

Graph Description(Points : 4)Increases in taxes and government spendingDecrease in taxes and increase in government spendingIncrease in taxes and no change in government spendingDecreases in taxes and government spending(TCO 6) The American Recovery and Reinvestment Act of 2009 included mostly (Points : 4)Increases in taxes and government spendingDecreases in taxes and government spendingIncreases in government spending and decreases in taxesDecreases in government spending and increases in taxes(TCO 6) The lag between the time the need for fiscal action is recognized and the time action is taken is referred to as the (Points : 4)Crowding-out lagRecognition lagOperational lagAdministrative lag(TCO 5) An increase in expected future income will (Points : 4)Increase aggregate demand and aggregate supplyDecrease aggregate demand and aggregate supplyIncrease aggregate supplyIncrease aggregate demand(TCO 5) The long-run aggregate supply curve is (Points : 4)Upward-sloping and becomes steeper at output levels above the full-employment outputUpward-sloping and becomes flatter at output levels above the full-employment outputHorizontalVertical(TCO 5) If the price of crude oil decreases, then this event would most likely (Points : 4)Decrease aggregate supply in the U.S.Increase aggregate supply in the U.S.Increase aggregate demand in the U.S.

Decrease aggregate demand in the U.S.(TCO 5) Deflation refers to a situation where (Points : 4)Price level fallsPrice level risesThe rate of inflation fallsThe rate of inflation rises(TCO 6) If a family's MPC is .7, it means that the family is (Points : 4)Operating at the break-even pointSpending seven-tenths of any additional incomeNecessarily dissavingSpending 70 percent of its disposable income(TCO 7) As of January 2010, slightly more than half of the money supply (M1) was in the form of (Points : 4)CurrencyCheckable depositsGold coins and barsSavings deposits(TCO 7) Which of the following "backs" the value of money in the United States? (Points : 4)Gold stored in the Federal Reserve Bank of New YorkAcceptability of it as a medium of exchangeWillingness of foreign government to hold U.S. dollarsSize of the budget surplus in the U.S. government(TCO 7) How many members can serve on the Board of Governors of the Federal Reserve System? (Points : 4)Seven Nine1214(TCO 7) Which of the following is the most important function of the Federal Reserve System? (Points : 4)Setting reserve requirementsControlling the money supplyLending money to banks and thriftsActing as fiscal agent for the U.S. government(TCO 7) The Federal funds rate is the rate that banks pay for loans from (Points : 4)The FedThe U.S. TreasuryOther banksLarge corporations(TCO 7) The difference between Fed behavior during the Bank Panics of 1930-1933 and the Financial Crisis of 2007-2008 is that the Fed (Points : 4)Was very active during the former crisis, while it was basically passive during the latter crisisStood idly by during the former crisis, but took dramatic actions during the latter crisisWas not yet in existence during the 1930sWas a much bigger institution in the 1930s than it is today

(TCO 7) The purchase and sale of government securities by the Fed is called (Points : 4)Federal funds marketOpen market operationsMoney market transactionsTerm auction facility(TCO 7) The Federal Reserve could reduce the money supply by (Points : 4)Selling government bonds in the open marketBuying government bonds in the open marketOperating the term auction facilityReducing the discount rate(TCO 8) Which country is the United States' largest trading partner in terms of volume of trade? (Points : 4)MexicoJapanChinaCanada(TCO 8) The principal concept behind comparative advantage is that a nation should (Points : 4)Maximize its volume of trade with other nationsUse tariffs and quotas to protect the production of vital products for the nationConcentrate production on those products for which it has the lowest domestic opportunity costStrive to be self-sufficient in the production of essential goods and services(TCO 8) A tariff is a (Points : 4)TaxPrice ceilingQuantity limitSubsidy(TCO 8) A key difference between import quotas and voluntary export restraints (VERs) is that the (Points : 4)Domestic government administers the former, whereas the foreign government administers the latterForeign government administers the former, whereas the domestic government administers the latterOne is a tax, whereas the other is a quantity limitOne raises the price of the imported product involved, whereas the other one does not(TCO 8) When tariffs on imported products are removed by a nation, it will result in (Points : 4)Higher prices and lower quantities consumedHigher prices and quantities consumedLower prices and quantities consumedLower prices and higher quantities consumed(TCO 8) Which organization meets regularly to establish rules and settle disputes related to international trade? (Points : 4)The United Nations Commission on Trade LawThe United Nations Conference on Trade and DevelopmentThe World Trade Organization

The Federal Reserve Board(TCO 9) U.S. businesses are demanders of foreign currencies because they need them to (Points : 4)Produce goods and services exported to foreign countriesPay for goods and services imported from foreign countriesReceive interest payments from foreign governmentsReceive interest payments from foreign businesses(TCO 9) Remittances of Mexican workers in the U.S. to their families in Mexico are included in the U.S. balance of payments as a debit in the section on (Points : 4)Trade in servicesNet international transfersFinancial accountsCapital accounts(TCO 9) Comparing everything that the United States owes to other nations, and what they owe to the United States, the United States is currently a(n) (Points : 4)Net creditorNet debtorInternational banking assetInternational banking liability(TCO 9) Foreign exchange rates refer to the (Points : 4)Price at which purchases and sales of foreign goods take placeMovement of goods and services from one nation to anotherPrice of one nation's currency in terms of another nation's currencyDifference between exports and imports in a particular nation(TCO 9) When the exchange rate between pounds and dollars moves from $2 = 1 pound to $1 = 1 pound, we say that the dollar has (Points : 4)depreciatedAppreciatedInflatedDeflated(TCO 9) Which system would be accompanied by occasional currency interventions by central banks to stabilize or alter rates to avoid persistent balance of payments deficits or surpluses? (Points : 4)Gold standardFixed exchange ratesFlexible exchange ratesManaged floating exchange rates(TCO 8) a) Define the four basic types of trade barriers.  b) Who gains and who loses from a protective tariff?  Explain. (Points : 40)A protective tariff is a tariff that is designed…(TCO 6) a) Identify the four major tools of monetary policy. b) How can monetary policy address the problem of inflation? (Points : 40)Monetary policy can either be expansionary or….ECON 312 Discussions Week 1-7 All Students Posts 590 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-discussions-week-1-7-all-students-posts-590-pages-devry/

ECON 312 Opportunity Cost and Economic Systems Discussions Week 1 All Students Posts 95 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-opportunity-cost-and-economic-systems-discussions-week-1-devry/ECON 312 Opportunity Cost Discussions 1 Week 1 All Students Posts 48 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-opportunity-cost-discussions-1-week-1-devry/Give an example of how the Principle of Opportunity Cost applies to your life. Think of a recent decision you made. It could be a decision as simple as whether to eat out or cook your own dinner, or it could be a decision to quit your job and go back to school. What alternatives did you consider? How did you arrive at your final decision? Did you implicitly weigh marginal cost and marginal benefit? How does the concept of opportunity cost apply to production possibilities curve (PPC) analysis? How can we use PPC analysis to examine what we do? ECON 312 Economic Systems Discussions 2 Week 1 All Students Posts 47 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-economic-systems-discussions-2-week-1-devry/Think of a business firm you recently visited (such as Walmart, Home Depot, Red Lobster, Barnes & Noble, McDonald’s, etc.). What motivated the producers of all the individual products in the store to make them and offer them for sale? How did the producers decide on the best combinations of resources to use? Who made those resources available, and why? How does the market determine who will get the goods and services? Who decides whether these particular products should continue to be produced and offered for sale? How do these decisions differ between capitalist and socialist systems? ECON 312 Demand, Supply, and Market Equilibrium and Price Elasticity of Demand Discussions Week 1 All Students Posts 95 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-demand-supply-and-market-equilibrium-and-price-elasticity-of-demand-discussions-week-1-devry/ECON 312 Demand, Supply, and Market Equilibrium Discussions 1 Week 2 All Students Posts 47 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-demand-supply-and-market-equilibrium-discussions-1-week-2-devry/Think about a product that you have purchased recently (e.g. soda, diapers, takeout meals, milk, shoes, manicure/pedicure, video game, etc.). Explain how the law of demand affected your purchase. Give specific examples of how the determinants of demand and supply affect this product (T-I-P-E-N and P-R-E-S-T). What happens to the demand curve and the supply curve when any of these determinants change? Give examples of scenarios that would cause a change in demand versus a movement along the same demand curve and supply curve for this product. Discuss the new equilibrium price and quantity that result from these changes. Can you demonstrate some of these changes graphically? ECON 312 Price Elasticity of Demand Discussions 2 Week 2 All Students Posts 40 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-price-elasticity-of-demand-discussions-2-week-2-devry/Think of another good that you have purchased recently (or you could continue with the good you selected in TDA I). Be specific (e.g. is it breakfast cereal in general or Cheerios cereal specifically). If the price of this item increases, how would this affect the quantity of the good

that you consume? Is the Demand for this good Price elastic or Price inelastic? Justify your classification by talking about the determinants of elasticity as they apply to this product. Say price is on the rise for this product and you are the manager of a store, would you be thrilled to be selling this product? Under what circumstances would you want to own a business that sells this product? In other words, how does an increase in price for this good affect your Total Revenue? Using specific examples, relate the concepts of Cross Elasticity and Income Elasticity to this product. ECON 312 A Firm’s Shut Down Decision and Market Structure Classification Discussions Week 3 All Students Posts 76 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-a-firms-shut-down-decision-and-market-structure-classification-discussions-week-3-devry/ECON 312 A Firm’s Shut Down Decision Discussions 1 Week 3 All Students Posts 44 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-a-firms-shut-down-decision-discussions-1-week-3-devry/Say you are the manager of a perfectly competitive firm selling a product. Your business is making a loss because total revenue is less than total costs. What would you do--shut down or continue to operate? Use hypothetical numbers to explain. Information you need to provide include--state the product you are selling, the price of the product, the quantity of the product you produce, fixed costs, total cost, figure out total revenue, total and average variable costs. Then go ahead and make your decision. Explain carefully why it makes better sense to shut down rather than continue to operate or to continue to operate rather than shut down, as the case may be. How do fixed costs play a role in your analysis? What is the difference between shutting down and going out of business? ECON 312 Market Structure Classification Discussions 2 Week 3 All Students Posts 32 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-market-structure-classification-discussions-2-week-3-devry/Think about a firm that you have done business with recently. What industry does this firm belong to? For example, McDonald's is a firm in the fast food industry. What market structure would this industry fall under? What are the names of other firms in this industry? Is it monopolistic competition, oligopoly, monopoly, or perfect competition? Justify your classification of the firm. Use the characteristics/features of the different market structure to determine which market structure to classify your chosen firm. ECON 312 GDP and Unemployment and Inflation Discussions Week 4 All Students Posts 92 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-gdp-and-unemployment-and-inflation-discussions-week-4-devry/ECON 312 GDP Discussions 1 Week 4 All Students Posts 44 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-gdp-discussions-1-week-4-devry/Go to the Bureau of Economic Analysis website, www.bea.gov, and access the BEA interactively by selecting "National Accounts" and then "National Income and Product Account Tables." Select "Frequently Requested NIPA Tables," and find Table 1.1.1 on GDP. What is the current GDP growth rate for the U.S.? Examine the trend over the past few years. What trends interest you? What stage of the Business Cycle would the U.S. economy be in currently given the

trends? Why might GDP not be considered an accurate measure of economic well-being of a country? Identify at least three limitations of GDP as a measure of economic well-being. ECON 312 Unemployment and Inflation Discussions 2 Week 4 All Students Posts 48 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-unemployment-and-inflation-discussions-2-week-4-devry/Go to the Bureau of Labor Statistics website, www.bls.gov/news.release/empsit.toc.htm, and click on "Employment Situation Summary" to get the most up-to-date summary of unemployment in the U.S. or the "Employment Situation Summary Table A. Household data, seasonally adjusted." What interests or surprises you about the summary table? How does that rate compare with the rate in the previous month or quarter? Discuss the differences in unemployment rates by gender, age, education, etc. ECON 312 Aggregate Demand and Aggregate Supply and Fiscal Policy Discussions Week 5 All Students Posts 75 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-aggregate-demand-and-aggregate-supply-and-fiscal-policy-discussions-week-5-devry/ECON 312 Aggregate Demand and Aggregate Supply Discussions 1 Week 5 All Students Posts 37 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-aggregate-demand-and-aggregate-supply-discussions-1-week-5-devry/Go to the BEA website www.bea.gov. On the left tab under Publications, go to the Interactive Data Tables. Select National Income and Product Accounts. From Table 1.1.6 and 1.1.7 examine all four components of GDP (C, I, G, and Xn). Which of these four components of AD declined the most during the 2007 and 2009 recession? Do you think an increase in government's spending (G) can boost the Aggregate Demand (AD) in a recession? Analyze why the economy may operate below full-employment GDP in the short run. How can the multiplier have a negative effect? What is the relationship between the multiplier and the marginal propensities? Explain. ECON 312 Fiscal Policy Discussions 2 Week 5 All Students Posts 38 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-fiscal-policy-discussions-2-week-5-devry/Give an example of an event or incident that has taken place in the U.S. economy which has a major economic impact--be specific, e.g., 9/11 attack, natural disaster, rise or fall in oil prices due to OPEC policies, consumer optimism or pessimism about an expected economic expansion or downturn, increase in government spending on healthcare, tightening of the legal and institutional environment, and so forth. What effect would this event have on AD or AS, other things being constant? What would be the resulting effect on equilibrium price level? Explain. What will be the effect of the different tools of fiscal policy to stabilize the economy? Give an example of a built-in stabilizer and explain how it would work to reduce this rise or fall in the level of AD.ECON 312 Money and Banking and Monetary Policy and the Federal Reserve Discussions Week 6 All Students Posts 84 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-money-and-banking-and-monetary-policy-and-the-federal-reserve-discussions-week-6-devry/ECON 312 Money and Banking Discussions 1 Week 6 All Students Posts 38 Pages DeVry

http://www.hiqualitytutorials.com/product/econ-312-money-and-banking-discussions-1-week-6-devry/What factors led to the mortgage default crisis? How did mortgage defaults affect banks involved in mortgage lending and mortgage investing? Securitization? TARP? What do these mean? How did mortgage-backed securities spread losses during the mortgage default crisis? How does TARP illustrate the problem of moral hazard? What did the Federal Reserve do during the financial crisis of 2008 and 2009? How did the recent financial crisis affect the financial services industry? What are some of the major provisions of the Wall Street Reform and Consumer Protection Act?ECON 312 Monetary Policy and the Federal Reserve Discussions 2 Week 6 All Students Posts 46 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-monetary-policy-and-the-federal-reserve-discussions-2-week-6-devry/What is the Federal Reserve (Fed) all about? Which Federal Reserve District Bank is closest to you? Who is the current Chairman of the Fed? Should the Fed remain independent from political authority or should the President and Congress have a say in their operations? Why? Why not? What is FOMC? What is the current Federal Funds Rate? How does the Fed implement monetary policy to manage the economy? At the last meeting of the FOMC, what was done to the federal funds rate--increased, decreased, or no change from previous meeting? Given the current state of the U.S. economy, should the Fed be using expansionary monetary policy or contractionary monetary policy? Why? Why Not? ECON 312 Free Trade and Foreign Exchange Discussions Week 7 All Students Posts 73 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-free-trade-and-foreign-exchange-discussions-week-7-devry/ECON 312 Free Trade Discussions 1 Week 7 All Students Posts 37 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-free-trade-discussions-1-week-7-devry/Are you for or against free trade? Are you for or against NAFTA? What is the economic basis for trade? Explain the underlying facts that support free trade and give an example of a good that you purchased recently that is based on resource differences. What are some examples of goods that the U.S. has comparative advantage in producing? Take a look at the tag of the shirt/dress/pants you are wearing today. Where was it made? Anyone wearing “Made in America” items of clothing today? We sometimes hear people say “Buy American." Why don't we? What is the basis of international trade? What are the benefits and the costs? Under what conditions would you advocate for trade restrictions? ECON 312 Foreign Exchange Discussions 2 Week 7 All Students Posts 36 Pages DeVryhttp://www.hiqualitytutorials.com/product/econ-312-foreign-exchange-discussions-2-week-7-devry/What is happening to the value of the U.S. dollar these days? What causes the value of the U.S. dollar to rise or fall? Who demands U.S. dollar? Who supplies U.S. dollar? When we purchase German products, does our demand for euro go up or down? What are freely floating exchange rates all about, and how do they work? How can the falling U.S. dollar impact your travel expenses? Why would a cheap dollar relative to other nations' currencies be good or bad for U.S. trade?