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How is the U.S. national economy different from those of other nations? Why is it difficult to test macroeconomic theories?
Discuss the limitations of national income accounting.Why does the consumer price index exaggerate the inflation rate?
What is meant by industrial policy? Discuss the strengths and weaknesses of an industrial policy.
What is a consumption function? Describe the graph of a consumption function and explain its shape.
In what ways can fiscal policy affect aggregate supply?Distinguish between crowding out and crowding in.
What are the three functions of MONEY , and why are they important? What are the differences between M1 and M2?
What is meant by the demand for MONEY ? Which way does the demand curve for money slope? Why?
What is foreign aid and what is the goal of foreign aid? Does foreign aid promote economic development? Explain briefly.
Identify the major business and financial risks such as interest rate risk, foreign exchange risk, credit, commodity, and operational risks.
What are some 'leading' and what are some 'lagging' economic indicators such that some are predictive of an economy's direction
Determine the indicators of the business failure and success from research. These may include aspects of the leadership style
What are some of the nonverbal communication aspects that they should know? After receiving the training, should they still use an interpreter?
How does the discount rate affect the decisions of banks in setting their specific interest rates?How does monetary policy aim to avoid inflation?
What are the characteristics of a financial institution, and why does it lead to economic development?
In a two- to three-page paper (not including title and references pages), describe the current state of the U.S. economy
Define the cross-price elasticity of demand? What information does it provide? How is it calculated?What is total revenue? How is it calculated?
Compare and contrast the theories of scientific management with that of the human relations management approach.
What new trends are influencing rapid global changes? What effect do you see on your everyday life, both personally and professionally?
How would you define "division of labor," and why is this important in our economic system? In your answers, provide examples from your personal experience.
Discuss three types of Fiscal policies and its affect on GDP and economic growth.Explain some of the important indicators of economic growth.
Contributions to Technological Failure. Several of the technological failures discussed in this chapter were made worse by the failures
Explain purchasing power parity and why it does not hold perfectly in the real world
Compare the view of the inflation-unemployment tradeoff illustrated by the Phillips curve with Milton Friedman's view, expressed in his Nobel lecture.
Examine the U.S.'s rationale for trading with China using the comparative advantage theory.
Analyze the effects of unemployment and inflation on the current state of the U.S. economy.