ECO 372 Week 2 Complete
1.
Explain the viewpoints of classical and Keynesian economists. How did the
economy that existed at the time of these theories influence them? Which theory
is more appropriate for the economy today? Why?
DQ
2. What is the economy's current stage in the business cycle? Support your
answer with an article written within the last week from the popular press or
blog. In light of the text readings, evaluate the article and the source of the
article. Based on the information, determine where the economy fits in the
business cycle.
DQ
3. Recessions seem to show up every so often and create economic hardship. One
might think that macroeconomic policymakers could tame the business cycle and
implement policies that would end recessions. Are recessions a necessary fact
of macroeconomic life? If not, what would it take to eliminate them? If they
are unavoidable, what types of business can benefit from them? How would a
recession affect your firm?
Resource: Figure
3-1 in Ch. 3 of Macroeconomics.
Part 1
Describe the following
terms in your word.
· Gross
domestic product (GDP)
· Real GDP
· Nominal GDP
· Unemployment
rate
· Inflation
rate
· Interest
rate
Part 2
Consider the
following examples of economic activities:
· Purchasing
of groceries
· Massive
layoff of employees
· Decrease
in taxes
Describe how each of these activities affects
government, households, and businesses. Describe the flow of resources from one
entity to another for each activity.
Write a 700- to 1,500-word paper summarizing the results.
Develop a
list of resources you might use to gather historical economic data as well as
economic forecast data.
Explain how
and why each source is valuable and useful.
Identify any
quantitative or qualitative forecasting factors contained in the sources.
Discuss this week’s objectives with your team.
Your discussion should include the topics you feel comfortable with, any topics
you struggled with, and how the weekly topics relate to application in your
field.
Write a 350- to 1,050-word paper that details your
team's findings.
To
download the complete paper click ECO
372 Week 2 Complete
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