Category: Economics

What is the name of your category ?Based on the price elastic of demand (OWN price elasticity) what we can say about your category? ( Mention numbers that you have found here) (Hint) Does it have an Elastic demand, inelastic demand or unit elastic demand?

Micro Economics

https://data.ers.usda.gov/reports.aspx?ID=17825

Click on the above link, Then choose Australia and find
– Price elasticity of demand ( Own Price) and
-Income elasticity
for your category for Australia! then answer the following questions:

What is the name of your category ?

Based on the price elastic of demand (OWN price elasticity) what we can say about your category? ( Mention numbers that you have found here) (Hint) Does it have an Elastic demand, inelastic demand or unit elastic demand?

If you are producing this good/service , How can you increase your revenue?
Hint) Look at the price elasticity if it is Elastic demand you better decrease the price and if that good has inelastic demand you better increase the price.

Base on income elasticity, what we can say about that good? ( Mention numbers that you have found also).
Hint) Is it normal or inferior? If it is normal is it Necessity or Luxury ?

Explain the concept of bartering. Explain whether bartering does or does not meet all of the functions of money.

In this threaded discussion, complete the following:

Discuss the concept of money. Begin by defining the functions of money and explain how currency meets these functions.

Explain the concept of bartering. Explain whether bartering does or does not meet all of the functions of money.

Historically, a number of things other than coin and currency have been used as money. Using outside research, provide an example of something else that has been used as money, and explain when and where it was used. Do not use the examples given in the text.

Think about how Scripture influences our attitudes and actions towards money. Which Bible verses related to money challenge you the most? Which biblical concepts have helped form how you think about and act with your money? Explain.

Evaluate the decision to shift advertising money from ESPN.com to Google AdWords.

Prompt:

A firm recently spent $100 on Google AdWords and generated 100 extra visits to the firm’s website, 5 of which resulted in a purchase. To pay for the change, they dropped the banner advertising on ESPN.com saving $1000, which also reduced the number of visits to their website by 500 and 20 fewer sales. Sales from visitors from ESPN.com were on average 25% higher than sales from visitors from Google AdWords.

Evaluate the decision to shift advertising money from ESPN.com to Google AdWords.

How can the government use nudges to solve a specific problem? How can a manager use incentives to motivate workers in your industry?

Behavioral Economics

How can we get people to act the way we want?

How can a company sell more without spending more on marketing?

Are there gender differences in making financial decisions?

How can the government use nudges to solve a specific problem? How can a manager use incentives to motivate workers in your industry?

How can a teacher use incentives to get students to study more? Does happiness increase with income? Is there a particular behavioral puzzle that you observe around you and wish to explore in depth?

 

Describe one benefit and one drawback for each type of central bank design listed below

Week 4 Assignment – Homework Activity – Central Bank Design

Imagine you are advising the leadership of a new, independent country for the design of their central bank. In 1–2 pages, do the following:

Describe one benefit and one drawback for each type of central bank design listed below

Design 1 – Central bank policy decisions that are irreversible or central bank policy decisions that can be overturned by the democratically elected government.

Design 2 – The central bank has to submit a proposal for funding to the government each year or the central bank finances itself from the earnings on its assets and turns the balance over to the government.

Design 3 – The central bank policymakers are appointed for periods of four years to coincide with the electoral cycle for the government or the central bank policymakers are appointed for 14-year terms.

In 1–2 paragraphs, identify the design you would recommend for this country and why.

Be sure to describe any necessary characteristics and assumptions about this country to support your recommendation.

What was the primary motivation behind the creation of the 1988 Basel Accord?Today, there is a clear consensus about the best way to design a central bank. What are the criteria for a successful central bank?

Week 7 Assignment – Homework Activity – Banking Concepts 2

This homework activity checks your understanding of why large financial firms or universal banks were created, the motivation behind the 1988 Basel Accord, the criteria for a successful central bank, and the limits of the Federal Reserve in preventing a stock market crash.

Briefly answer (in a list or short paragraph) the following questions:

Owners and managers have cited three reasons for the creation of large financial firms or universal banks. What are these reasons? Refer to Chapter 13, section “The Future of Banks,” pages 336–337.

What was the primary motivation behind the creation of the 1988 Basel Accord?

Today, there is a clear consensus about the best way to design a central bank. What are the criteria for a successful central bank?