This is my assignmentMacroeconomics Final Project/Exam (Demonstration of understanding/grasping...

Question

This is my assignmentMacroeconomics Final Project/Exam (Demonstration of understanding/grasping Economic concepts) Directions:  Answer any 4 of the following questions. (25% each question) 1) Opportunity Cost and Marginal Principal:  Given the following information provide a recommendation.  Support your answer based on economic principles.  I had an option to get my driveway seal-coated by a local company.  The price is $301.50 with all tax/fees included in that.  The other option is to purchase the material from a hardware store where I would have to pick it up.  The hardware store is 4 miles away and is 10 minutes each way due to traffic lights.  My vehicle get 24 miles per gallon and the price of gasoline was $2.50 at that time. The price for the material before the 6% sales tax is as follows: 8 containers of the asphalt sealer at $29.95 each, 1 broom handle at $7.48 and two asphalt squeegee brushes at $5.98 each.  It would take me approximately 8 hours to do this by myself since I will have to mix the material and spread it.  I would do this on the weekend during my non-work hours. 2) Supply/Demand:  Choose two industries that you think will be negatively impacted in regards to demand in the next 12 month due to the current situation with the coronavirus.  Explain in detail your answer and then identify from the graphs below which one would illustrate this.  Then, do the same thing but pick two industries that you think will be positively impacted in regards to demand.   3) Unemployment: Define each of the three main categories of unemployment discussed in this course.  For each type give a real-world example.  Then explain the difference between the U-3 unemployment rate and the U-6 unemployment rate. 4) Explain in detail the three main things the Federal Reserve can do if they feel the economy is headed for, or is in a recession in order to improve the economy.  Make sure to include in your answer how each of these items can impact the overall economy. 5) Explain in detail the three main things the Government can do to impose trade barriers.  Make sure to include why the Government would do this and how each of these barriers impacts trade. 6) Define and explain what a market is and then explain in detail the circular flow chart.  Use the one from section 3 that includes the government.

Komalavalli · Accepted Answer

3)
Three types of unemployment are frictional, cyclical and voluntary unemployment.
Frictional Unemployment:
This occurs when workers quit their jobs but have not yet found new ones. Workers leave most of the time on their own will, either because they need to relocate or because they have saved enough money to search for a new job.
A student searching for their first job or a mother returning to the workforce might also experience a period of "frictional employment."
Cyclical unemployment:
In the business cycle's contraction phase, unemployment occurs as a result of cyclical unemployment. When this happens, the demand for products and services plummets. Consequently, firms are forced to lay off huge numbers of employees in order to reduce expenses.
After the 1929 stock market crisis, the government did not immediately step in to assist the financial sector in recovering. As a result of the Great Depression, which lasted for ten years, unemployment reached 25 percent.
Structural unemployment:
Structured unemployment occurs when developments in the economy result in a mismatch between employees' abilities and employers' requirements.
Robots are being used to replace workers in industrial industries. In order to handle the robots that have replaced them, workers now need to learn how to operate them.
U3 Vs U6 unemployment rate:
This is the most often reported rate of unemployment in the United States. It measures the number of individuals actively looking for work, also known as the "U3 rate." U-6 employees comprise discouraged, underemployed, and jobless workers.
4.
Market players are typically reassured by actions and public statements made by the Fed during recessions that it would use monetary policy instruments to avoid or cushion its member institutions and the financial system from suffering too significant losses.Open market operations, the discount rate, and reserve requirements are the Federal Reserve's three instruments of monetary policy.
Government securities are purchased and sold on the open market. On days when there is a "open market," the Fed does not pick whose securities dealers it will deal with. Instead, the Fed's principal dealers and different securities dealers compete on a "free market." As a result of their flexibility,

Macroeconomics Final Project/Exam (Demonstration of understanding/grasping Economic concepts) Directions: Answer any 4 of the following questions. (25% each question) 1) Opportunity Cost and Marginal...

Answer To: Macroeconomics Final Project/Exam (Demonstration of understanding/grasping Economic concepts)...

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment