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What are some of the limitations to using per capita income as a measure to compare the wellbeing between countries?
Higher levels of savings and investment lead to greater rates of economic growth. What can government do to encourage more savings and investment?
What role might foreign investment play in helping developing nations improve their growth rate and increase income levels?
Assume you just lost your job and you have decided to take a monthlong break. How would you be classified (employed, unemployed, or not in the labor force)?
Explain why hyperinflation has such a devastating impact on economies. Explain what it takes to stop hyperinflation.
How can it be true that employment grows faster than population? Further, the number of people unemployed has only risen 5%.
Why Would such a report have an impact on the labor force? Would it affect the unemployment rate?
Were these people frictionally, structurally, or cyclically unemployed? What policies might government implement to reduce impact of this type of unemployment?
If you lived in a country where you saw the signs of government beginning to spend excessively. What would you do to protect yourself and your monetary assets?
Isn't this just another consumer purchase of housing services? How would the sale of an existing house be treated in the GDP accounts?
Why does GDP accounting only include the final value of goods and services produced? What would be the problem if intermediate products were included?
Describe the four phases of business cycles. Business cycles are dated by which federal agency? What is the difference between a recession and a depression?
Describe the three major goals of macroeconomics. How well has the United States economy performed in accomplishing these three goals in the last few years?
Do you think quarterly publication and revision in the next quarter would present problems for policymakers trying to control the business cycle?
What might be some of the problems associated with trying to include these intangibles in the NIPA?
Assume the federal government runs huge budget deficits today to finance. Describe why this scenario is likely to be bad for the macroeconomy.
What may be happening in the aggregate? How might individual experiences lead one astray in thinking about the macroeconomy? How might it help?
What would be the impact if minimum wages were structured this way?
Describe the tragedy of the commons. Give some examples. How might this tragedy be avoided?
Medicare recipients were permitted to sign up for federally subsidized drug benefit plan. Why Does deadline have anything to do with adverse selection? Explain.
What is the purpose of a warranty given by a used-car dealer? Evaluate one used-car warranty that gives your money back if not satisfied in certain time period.
When professors get tenure, essentially guaranteeing them lifetime jobs, does this affect the effort. What concept might be used to explain your answer?
What are the main characteristics of the market system? How does the market system answer the five fundamental questions?
In your report, discuss the latest 10-year trends in both GDP and PCE. Also discuss how the trends in GDP compare with trends in PCE.
Adam Smith, in his famous book The Wealth of Nations, noted, "Every individual . . neither intends to promot. What was Adam Smith describing and what did it do?