What opportunities did you uncor reading chapter 1, macroeconomics assignment help

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nob16

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Please, help me get answers for this macroeconomic assignment. It's due tomorrow (6/11) evening. Thanks.

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Homework Assignment #2 Questions: Chapter 2 1. What opportunity costs did you incur in reading chapter 1 of your macroeconomics textbook? If you read three more chapters of the book today, would your opportunity cost (per chapter) increase? Explain. 2. How much time could you spend on homework in a day? How much time do you spend on homework in a day? How do you decide how much time to spend on homework in a day? Chapter 3 1. Assume that a student told an instructor that he absolutely needed an “A” in the class and would pay anything to get it. If this were true, what shape would his demand curve have? Why isn't this realistic? Role of Government 1. Could local fire departments be privately operated, with their services sold directly to customers? What problems would be involved in such a system? Chapter 6 1. a. Would the following be counted in GDP? If so, explain how it enters GDP (C, 1, G, or (X-M)) and why. If not, explain why not. Nabisco's purchase of flour to make cookies. b. Your purchase of flour to make cookies for your study group. The Pentagon's purchase of flour to make cookies for soldiers. Nabisco's purchase of an oven to bake cookies. Your purchase of Hungarian hazelnuts to put in your cookies. c. d. e. Chapter 8 1. If the age at which students can dropout of high school is increased from 16 to 18, what happens to: (a) production possibilities? (b) unemployment rates? 2. Web Activity – The Bureau of Labor Statistics publishes the Occupational Outlook Handbook, which can be found at www.bls.gov/ocol. What are the employment prospects in your chosen profession (or one that you might consider)? What factors will create jobs (or decrease the number of jobs) in this field? Problems: Chapter 2 1. Suppose either computers or televisions can be assembled with the following labor inputs: Units produced 1 2 3 3 4 5 6 7 8 9 10 Total labor used 3 7 12 18 25 33 42 54 70 90 (a) (b) (c) Draw the production possibilities curve for an economy with 54 units of labor. Label it P54. What is the opportunity cost of the eighth computer? Suppose immigration brings in 36 more workers. Redraw the production possibilities curve to reflect this added labor. Label the new curve P90. Chapter 3 1. Given the following data, identify the amount of shortage or surplus that would exist at a price of (a) $5.00 (b) $3.00 (C) $1.00 What is the equilibrium price? How would the equilibrium price and quantity change if Alice left the market? Price $5.00 $4.00 $3.00 $2.00 $1.00 Quantity demanded Al 1 2 3 4 5 Betsy 0 1 1 1 2 Casey 2 2 3 3 4 1 Daisy 3 4 4. 4 6 Eddie 1 2 2 3 5 Market Total $5.00 $4.00 $3.00 $2.00 $1.00 Price Quantity supplied Alice Butch Connie Dutch Ellen Market Total 3 3 3 3 3 7 5 4 4 2 6 4 3 3 1 6 5 3 0 4 2 2 2 1 4 Role of Government 4. Assuming a 5 percent sales tax is levied on all consumption, complete the following table. Percent of Income Paid in Taxes Income $20,000 30,000 50,000 100,000 Consumption Sales Tax 10,000 18,000 35,000 80,000 Is this tax progressive, regressive or proportional? Chapter 8 1. According to Okun's Law (updated), how much output was lost in 1992 when the nation's unemployment rate increased from 7.0 to 7.4 percent? 2. Suppose the following data describe a nation's population: Population Labor Force Unemployment rate Year 1 200 million 120 million 6 percent Year 2 203 million 125 million 6 percent a. b. How many people are unemployed in each year? How many people are employed in each year? Compute the employment rate (i.e., number employed/population) each year. c.
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