ECON201 Saudi Electronic University Macroeconomics

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timer Asked: Feb 5th, 2019
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Question Description

There are 2 questions and each question must be answered with one page long with illustration with curves.

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-This Assignment must be submitted on Blackboard (WORD format only) via the allocated folder.
-Email submission will not be accepted.
-You are advised to make your work clear and well-presented; marks may be reduced for poor presentation. This includes filling your information on the cover page.
-Assignment will be evaluated through BB Safe Assign tool.
-Late submission will result in ZERO marks being awarded.

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Assignment No. 1 Course: Macroeconomics(ECON201) Student name: Academic Year:1439-1440 H Student ID: Semester: 2nd Student grade: / 3 CRN: Level of the marks: Instructions: ➢ This Assignment must be submitted on Blackboard (WORD format only) via the allocated folder. ➢ Email submission will not be accepted. ➢ You are advised to make your work clear and well-presented; marks may be reduced for poor presentation. This includes filling your information on the cover page. ➢ Assignment will be evaluated through BB Safe Assign tool. ➢ Late submission will result in ZERO marks being awarded. ➢ The work should be your own, copying from students or other resources will result in ZERO marks. ➢ Use Times New Roman font 12 for all your answers. Assignment Questions Q.1. We knows that a change in the price of a product causes a movement along the demand curve. Suppose consumers believe that prices will be rising in the future. How will that affect demand for the product in the present? Can you show this graphically? (1.5 Marks) Q.2. Suppose, as an economist, you are asked to analyze an issue unlike anything you have ever done before. Also, suppose you do not have a specific model for analyzing that issue. What should you do? Hint: What would a carpenter do in a similar situation? (1.5 Marks) Answer:- ...
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Tutor Answer

DrReginaldWoof
School: Cornell University

Hi, please see the attached paper. Have a look at it and in case of any edit, please let me know. Otherwise, it is my pleasure to have you as my buddy now and future. Until the next invite, Bye!

Running Head: MACROECONOMICS

1

Macroeconomics
Name
Institution Affiliation

MACROECONOMICS

2

Question 1
The shift of the demand curve
Consumers tend to buy goods and services at the lowest price possible. Therefore, if the
consumers expect the cost of a product or service to rise in the future, they will shop more when
the price is still low (Safiullin, Oduntsova, & Safiullin, 2015; Mankiw, 2011). This can be
termed as an increase in the current demand. The demand curve shifts when there is a change in
the price expectation of buyers. The curve, in this case, is subject to the law of demand which
indicates the relationship between the quantity of demand and demand price. When future costs
are expected to be higher, the consumers will purchase additional products to...

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Anonymous
Excellent job

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