Part 2 diagrams: Directions: Answer the following questions using COMPLETE sentences. 1. Draw the circular flow of money and then below that explain the flow of money and goods and services through the product and factor market. Make sure that you also explain the three players in the economy and how they contribute to this flow. 2. Draw the different stages of the business cycle and explain each underneath.
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- Directions: Answer the following questions using COMPLETE sentences. 1. Draw the circular flow of money and then below that explain the flow of money and goods and services through the product and factor market. Make sure that you also explain the three players in the economy and how they contribute to this flow. 2. Draw the different stages of the business cycle and explain each underneath.5 8 Market for Factors of Production 7 Dale pays for his movie ticket. Safeway sells groceries. Peter buys gourmet jam. 6 Which of the descriptions below best matches the flow described by #3? Hint: To see the origin of the flow, pay attention to the subject of the sentence, are we talking about a firm or a household? To see the kind of flow, first, think whether it is a monetary flow or a real flow and, if it's a real flow, think whether we are talking about goods & services or about factors of production -- this will help you identify the market involved. 2 3 Market for Goods & Services 4// Spencer receives wages for tutoring. Target earns big revenue on Black Friday. Laura offers her labor delivering sandwiches for Jimmy John's. Bank of America pays rent for its office rentals. Turner Construction rents trucks for its business.Tools 1. The opportunity cost of holding money Suppose you've just inherited $5,000 from a relative. You're trying to decide whether to put the $5,000 in a non-interest-bearing account so that you can use it whenever you want (that is, hold it as money) or to use it to buy a U.S. Treasury bond. The opportunity cost of holding the inheritance as money depends on the interest rate on the bond. For each of the interest rates in the following table, compute the opportunity cost of holding the $5,000 as money. Interest Rate on Government Bond Opportunity Cost (Dollars per year) (Percent) What does the previous analysis suggest about the market for money? The quantity of money demanded increases as the interest rate falls. The quantity of money demanded decreases as the interest rate falls. O The supply of money is independent of the interest rate.
- 1. What is opportunity cost and how does it affect the decision-making process for business decisions?2. how does opportunity cost affect the decision-making process for personal decisions? Please give a tangible example.3. Explain horizontal and vertical analysis and when you would use one over the other.4. Discuss a money management challenge in a business setting and how you would overcome it.5. Discuss a money management challenge in a personal setting and how you would overcome it.6. Pick a ratio and explain what it is and how it is used.7. What is fundamental analysis and where and when would it apply to a business decision.12. The system of use and transformation of different resources created by people is: a) the monetary system; b) credit system; c) turnover3; d) the economy3B e) there is no right answer.Part A: Give a specific example of something a household would buy or sell in the product market. Part B: In the circular flow diagram, what is a specific example of what you would buy or sell in the factor market.
- 5 8 Market for Factors of Production 7 O Dale pays for his movie ticket. 6 Which of the descriptions below best matches the flow described by #2? Hint: To see the origin of the flow, pay attention to the subject of the sentence, are we talking about a firm or a household? To see the kind of flow, first, think whether it is a monetary flow or a real flow and, if it's a real flow, think whether we are talking about goods & services or about factors of production -- this will help you identify the market involved. O Peter buys gourmet jam. O Target earns big revenue on Black Friday. Laura offers her labor delivering sandwiches for Jimmy John's. Spencer receives wages for tutoring. O Bank of America pays rent for its office rentals. Safeway sells groceries. 2 3 Market for Goods & Services 4 Turner Construction rents trucks for its business. 1Microeconomics deals with __________. a. Economy as a whole b. Aggregate demand and supply c. Income and employment d. Individual units in an economy1. Write a sentence or two defining the following terms in your own words. Give examples of each. g. Planned System h. Public Goods i. Recession
- Write an Introduction for the following topic using the outline provided:Topic: Using appropriate data, analyze the potential impact of Brexit on the Caribbean. Outine:What is Brexit?- Why did it occur? Why did the UK leave the EU- When did it occur?- What is the European Union?- Brief description of the state of the Eastern Caribbean economies- Why would it[Brexit] have an impact on the eastern Caribbean? What relationship doesthe eastern caribbean have with the UK and the E.U.? What do they trade with eachother? Were there FDI investments? How did this relationship affect the easterncaribbean?Please include references :)21. What you mean by business cycles? What are their consequences? 22. All industrialized countries have become "service economies" in recent decades. Explain the reasons behind this shift. 25. Draw a production possibilities frontier for an economy, with the axes labeled "military goods" and "peace goods." Indicate the region that is attainable and the region that is not. Explain the shape of the curve-what assumptions did you make in drawing it? 26. Why is it inefficient for an economy to be inside the production possibilities frontier? 27. What is an aggregate? How is it used in macroeconomics? Give two examples of specific aggregates that are used in the study of macroeconomics. 28. What are the two basic principles of aggregation? 29. What is Gross Domestic Product? What is included in this statistic? What is excluded? Give two examples of goods or services that are included in GDP and two examples of goods or services that are excluded. 30) Which of the following items are…1. Write a sentence or two defining the following terms in your own words. Give examples of each. a. Planned System b. Public Goods c. Recession