What is the video talking about (summarize it using your own words not less than 100 words). Choose an economic term you have learned new in the video and what does it mean.

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DISCUSSION ESSAY

Choose one of the following videos and answer the questions below

  1. What is the video talking about (summarize it using your own words not less than 100 words). (1 mark)
  2. Choose an economic term you have learned new in the video and what does it mean. (0.5 mark)
  3. Create a question about the video and answer it. (0.5 mark)

 

Discuss the different types of financial intermediaries?

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Macroeconomics Discussion Question

Discuss the different types of financial intermediaries?

Note : Answer the given question in your own words and it should be approximately 120 words.

 

Calculate nominal GDP in each of the three years. Calculate Real GDP in each of the three years, using 2019 as the base year. Calculate the rate of inflation for 2020 and 2021 using the GDP deflator as your price index. Assume that 2019 is still the base year.

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Assignment 2 (15 Marks)

Year Price of Pizza Quantity of Pizza Price of Burger Quantity of Burger Price of coffee Quantity of Coffee
2019 $ 8 350 $ 10 200 $ 8 150
2020 $ 10 500 $ 12 250 $ 10 250
2021 $ 13 700 $ 14 400 $ 15 400

1.Suppose people consume 3 different goods. The following table shows the prices and quantities of each good consumed in 2019, 2020, and 2021.

a.Calculate nominal GDP in each of the three years. (2 Marks)

b.Calculate Real GDP in each of the three years, using 2019 as the base year. (2 Marks)

c.Calculate the rate of inflation for 2020 and 2021 using the GDP deflator as your price index. Assume that 2019 is still the base year. (2 Marks)

d.Using the quantities from 2019 for your market basket, and 2019 as your base year, calculate the CPI for 2019, 2020 and 2021. (2 Marks)

e.Using the CPI calculate the rate of inflation. (2 Mark)

 

  • Suppose GDP equals $09 trillion, consumption equals $3 trillion, the government spends $2.5 trillion and has a budget deficit of $450 billion.
  • What is the Catch-Up Effect. Explain it by giving some Examples. (2 Marks)
  • Try to find public saving, taxes, private saving, national saving, and investment.

(3 Marks)

 

When a firm is “temporarily closed” (the firm shuts down) does the firm eliminate all of its costs of production? Briefly explain your answer.

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Test

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1 GRAPH for Pumpkins

  • Last year, 150,000 acres of oranges were planted across the U.S. Looking ahead in 2022, we are seeing a shortage of oranges due to a fungal infection that can potentially wipe out crops.

Fill in the chart and Graph on the Answer sheet.  If you can’t draw a graph you can copy and paste the correct graph from class notes session three. (16 points)

 (8 points for the graph and 8 points for the chart )

  • 2. The national association believes one in six dry cleaners will close, while the Dry Cleaning and Laundry Institute estimates that the industry will shrink by nearly 30 percent.
  • Casual attire, work-from-home trends accelerated during COVID pandemic

It’s not just Neighborhood Cleaners that felt the sting of the last year and a half.

Patel from the National Association of Dry Cleaners  says revenue was declining before March of last year, but that they also had seen a decline in business for several years. Experts in the field — from business owners to industry organization leaders — credit the downturn in business to many things, including the 2008 financial crisis, increasingly casual office dress codes, smoking bans in bars and restaurants, and fast fashion made from cheaper, machine-washable materials. Taken together, the result is a rapidly changing market that sometimes feels out of control

With the rise of fast fashion brands and the growing trend of younger professionals dressing more casually, the pandemic accelerated something already in motion,.

Amid such trends, dry cleaners have been left out to dry.

  • Use the concepts of fixed and variable costs to explain why 30% of dry cleaners  would close but the other 70%, also operating at a loss are able to remain open.( 10 points )
  • When a firm is “temporarily closed” (the firm shuts down) does the firm eliminate all of its costs of production? Briefly explain your answer. (5 points)

 Question 3

See the graph above, Label and Describe in terms of :

  1. Name of Market Structure (3 points)
  2. Ability to control prices. (3 points)

 

  1. Spending on advertising and marketing (3 points)
  2. Pure profit, Normal profit or losses. (3 points

 

  1. a. Use the kinked demand curve to explain why oligopolists practice price leadership. (5 points)
  2. b. Give an example of an oligopoly (3 points)

 

Question 5.

5

  1. Name of Market Structure (3 points)
  2. Ability to control prices. (3 points)

 

  1. Spending on advertising and marketing (3 points)
  2. Pure profit, Normal profit or losses. (3 points

 

 

6.

 

  1. The above firm will minimize losses by producing between Q_________ units (4 points)
  2. Q_____units.

(4 points)

 

  1. 7. Each worker gets equal pay. Fill in Average Product and Marginal Product (7 points).

  At what input level will Marginal Costs begin to rise? (7  points)

input of labor Total Product Average Product Marginal Product
0 0
_____
1                          8 _____
_____
2                        17 _____
_____
3                    27 _____
_____
4                  32 _____
_____
5                35 _____
_____
6               34 _____
`

 

 

  1. Jon quit his job as a manager at West End Savings bank where he earned $112,000 a year. He cashed in $200,000 in corporate bonds that earned 1.5% interest annually to set up a gym. Jon has decided to buy a store front and set up exercise classes. There are 1400 people who will pay $1000 a year for unlimited classes; $850 from each person goes for instructors, maintenance, equipment, insurance, depreciation

Write your answers to the following questions on the answer sheet. You must show your work.

  1. What are Jon’s total revenues? (3 pts)

B.  What are Jon’s explicit costs? In numbers (3 pts)

  1. What is his accounting profit? Numbers (3 pts)

D.  List 2 (in numbers) 2 implicit costs that Jon has not included. (3 pts)

  1. What is Jon’s pure economic profit (or loss) in numbers? (3 pts

Explore and demonstrate knowledge of capitalism, market, and economic systems and policy gained through the assigned readings and additional research.

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Are Market Systems and Policies Efficient?

Have you ever wondered how market systems and policies work? Have you thought about the influence policy has on the topics of capitalism, market, and economic systems?

In this assignment, you will explore and demonstrate knowledge of capitalism, market, and economic systems and policy gained through the assigned readings and additional research.

Write a 750-word essay that includes the following elements.

Types of economic systems used in the United States
How economic systems vary between the U.S., China, and Russia
Description of a political system
Knowledge of political systems gained from your personal experience
Political system(s) that you lean towards
How political policies are used in the United States compared to other countries in the world
Identification of several of the alleged "virtues" and "vices" of capitalism
Explanation of the difference between political systems, economic systems, and economic policies

Using the library’s Statista resource, find three years of this microeconomic variable for your industry. For example, you might find automobile, real estate, food or paper sales data for 2019, 2020, and 2021.

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Week 3 Assignment – Microeconomics Case Study

Instructions

In this exercise, you will demonstrate your ability to find microeconomic data from public sources and to make a spreadsheet in Excel. You are required to use Statista to complete your research.

Microeconomic data are numbers about a single industry. Automobile sales numbers are microeconomic data. Unemployment numbers for the entire country are not microeconomic data.

  1. Start by choosing an industry that interests you.
    • Remember that an industry is a group of companies that do the same thing. For example, Ford is a company; automobile manufacturing is an industry.
  2. Choose a microeconomic variable for your industry.
    • It could be prices, sales, production, advertising, or investment.
  3. Using the library’s Statista resource, find three years of this microeconomic variable for your industry. For example, you might find automobile, real estate, food or paper sales data for 2019, 2020, and 2021.
    • Go to Statista.
    • Log in using your Strayer credentials.
    • Type your industry name in the “Statista Search” space and click Statista Search.
    • Choose one of the options that has three years of annual data.
  4. Prepare an Excel spreadsheet that has two columns and four rows. In cell A1, type in the industry you selected and bold the text. In the heading for cell A2, type “Year.” In cells A3, A4, and A5 descending below this heading, type the years for your data. In the automobile example, this would be 2017, 2018, and 2019.
  5. In the heading for column two, cell B2, type the name of the variable you chose. For example, it could be “Sales.” In the cells below this heading, type the sales data for each of the three years.
  6. Underneath your table, type “Source:” and then paste the URL of the source where you found your data.
  7. See the Excel example below.
Resources to Complete the Assignment

 

For this writing assignment, you are to pick song lyrics for one song that relates to any of the economic ideas/concepts that we have covered in class.

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Economics in Music Lyrics Writing Assignment

For this writing assignment, you are to pick song lyrics for one song that relates to any of the economic ideas/concepts that we have covered in class. The entire song does not have to be related to economic concepts, but you need to be able to make several connections using the lyrics.

When it comes to picking a song to analyze:

Your song CANNOT be about economics, like in this example Links to an external site.(all these types of songs do is regurgitate economic definitions of concepts). The point of this assignment is to pick a “regular” song and make connections of economic concepts to it, not to simply find a song that is repeating definitions of concepts we have learned about. However, that doesn’t mean it has to be a “radio” song either. I have had students choose songs from popular theater plays and Disney movies.
You do NOT have to pick a “clean” song. I am an adult and can handle adult language/themes.
You need to find a song that you can pluck at least three concepts from.
Banned Songs

In around 1000 words, summarise – in your own words – what you think are the main lessons or issues emerging from the article. One way of approaching this is to imagine you are describing the main features of the article to a fellow student who has not read it and you are also telling them what you consider to be its strengths and weaknesses and the points you think would be most interesting to study further.

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Behavioural Microeconomics Essay Assignment

For this assignment, you must choose any ONE of the pieces listed on the next page. For the book chapters, we have tried to provide links via the Library. What seems to work is that you first sign in
to the Library then Ctrl+Click on a link and it should (hopefully . . .) take you to the item.

Alternatively, you may need to paste the link into your browser. If this doesn’t work, let us know.
The journal articles can be reached by the usual routes.

The assignment is in three parts:

Part 1. In around 1000 words (no more than 1500 words), summarise – in your own words – what you think are the main lessons or issues emerging from the article. One way of approaching this is to imagine you are describing the main features of the article to a fellow student who has not read it and you are also telling them what you consider to be its strengths and weaknesses and the points you think would be most interesting to study further.

Part 2. Track down two further published (or even unpublished but easily accessible) papers that add to our understanding about one of the issues discussed in Part 1 and, using up to 1000 words for each of the two, explain and critically evaluate the additional contribution(s) made by each of them.

Part 3. In up to 1500 words, describe how YOU would explore one or more questions raised in Parts 1 and 2. This follow-up might be empirical, theoretical, or both. What we are looking for here is not something vague and general. We want to see evidence that you have given serious thought to your ideas and you should provide as much detail as you can within the word limit. For example, if
you are thinking of an experimental follow-up, you should give an outline of the design and state the hypothesis or hypotheses you would seek to test (including some indication of the data you would need to collect and the tests you might hope to use).

So, your whole assignment should end up being around 4000-4500 words long, but definitely no more than 5000 words in total. Remember, it will be better to go into a few ideas in depth rather than cover many thoughts superficially. We will be looking for evidence of critical thinking and not merely the ability to describe – although careful and accurate description is, of course, important.

Write a 300-word op-ed. And in this op-ed, you must choose three concepts from the following list to explain and illustrate these concepts with two news articles.

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Write an op-ed based on the concepts and news articles

You need to write a 300-word op-ed. And in this op-ed, you must choose three concepts from the following list to explain and illustrate these concepts with two news articles. you must choose one news article from what I provided and choose another news article no earlier than Jan 7th from a reputable website ( the latest, the better) , such as The Economist, The New York Times, The Globe and Mail,

Two news articles should be used to support two different concepts.

The concept list
the greatest escape, well-being, health and wealth, global poverty and global inequality, life expectancy and income, sustained development, income per capita, GDP per capita

The news article you must choose one from is as follows (I also put all the articles in one doc for your quick review)
Articles

Formalising. (2023, Jan 07). The Economist, 446, 55. Retrieved from http://proxy.lib.sfu.ca/login?url=https://www.proquest.com/magazines/formalising/docview/2761511720/se-2

The heavy cost of the coup. (2023, Jan 07). The Economist, 446, 33-34. Retrieved from http://proxy.lib.sfu.ca/login?url=https://www.proquest.com/magazines/heavy-cost-coup/docview/2761511665/se-2

An area of darkness. (2023, Jan 07). The Economist, 446, 37-38. Retrieved from http://proxy.lib.sfu.ca/login?url=https://www.proquest.com/magazines/area-darkness/docview/2761511753/se-2

Cloud coup-coup land. (2023, Jan 07). The Economist, 446, 37. Retrieved from http://proxy.lib.sfu.ca/login?url=https://www.proquest.com/magazines/cloud-coup-land/docview/2761511756/se-2

Official federal health care policy for the past 40 years has focused on market solutions, underlining the reliance on competition to improve quality and access and reduce costs. Has this economic policy been successful? Why or why not?

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Federal Health care policy

Respond to the following in a minimum of 175 words:

Official federal health care policy for the past 40 years has focused on market solutions, underlining the reliance on competition to improve quality and access and reduce costs. Has this economic policy been successful? Why or why not?