Macro Economics Question

I’m working on a macro economics writing question and need support to help me understand better.

The word limit is 500 words Times New Roman Size 12 Font Double-Spaced APA Format

hey I have attached the guideline. please have a look at it. read it carefully because this will tell you exactly what is needed in the assignment.

okay so the course concepts are as follows:

-financial aid


-Multiple equilibria due to network effects (creates a monopoly)

-Institutions promote development by regulation

-Geography plays a role in development

-Multiple equilibria, big-push style

-Productivity. “Innovation is crucial to productivity” and there may (or may not) be a role for government here.

-Poverty traps

okay so the rule is that these course concepts are to be used as insights and the 2 insights that you use cannot be similar at all.

and please let me know the topic which you will use. by this I mean, what will you put in the blank here, What ___________ can teach us about economic development.

also tell me which insights will you use.

you have to use two different sources and the sources cannot be 3 months old from today so that means you can use sources from January 2021

I am also attaching the mini opeds I have done which received a 8/10. these only used one insight so don’t be confused. it might give you some reference.

okay so this is a transcript from the lecture he gave on this assignment. might be of some support

  • In that you’ve got a lot of ideas, you need to sort of fit into a limited amount of words so you’ll need to pay attention to writing clear sentences.
  • 01:19Organizing and using simple words and what you’re going to do is slightly different from what you do every week in the meaning of ipads and, in particular i’m going to get you to write a mini iPad that’s got a title.
  • 01:38This one SEC.
  • 01:40that’s got a title what something can teach us about economic development Okay, so your title will.
  • 01:48you’ll be filling in that blank and so i’ve just gone through some examples, and the reason i’ve chosen these examples will be clear shortly.
  • 01:56So you might you know here I want you to feel free to pick a topic that you think is of particular interest to you okay so i’ve got no limits on this.
  • 02:06So you might think of tech companies what tech companies can teach us about economic development, or what Sino US relations can teach us about development.
  • 02:17Or you know what Judy free taxes can teach us about economic development there’s really no limitation to how you choose to feel that sentence and that’s how you will choose to title or your iPad.
  • 02:29And so, your appeared will be the goal of it will be to change the way the reader, which is, as I say, think of a non ECON undergraduate students or someone that’s intelligent but doesn’t know the details of economic development.
  • 02:45you’re going to change how they think about development by making the case that whatever you’re filling in the blank with can teach us something about economic development so that’s what you’re trying to convey.
  • 03:00So here are the restrictions you’re trying to convey at least two lessons okay so each week in the mini op eds you do basically one listen, like you, you describe one insight from that week’s topic in the major writing assignment you’re going to describe at least two.
  • 03:19Okay, to insights you get to choose those.
  • The the somewhat challenging thing is that these two insights.
  • 03:32down here now that, through these insights have to come from different topics.
  • 03:37Okay, so I want you to sort of.
  • 03:39search through the course pick two insights that are from different topics and you’re going to write about those and you’re going to claim that your topic so whatever you fill in the blank with will teach us those at least two insights.
  • 03:56Okay, so you should have at least two new articles and these articles must come from the last three months, or sometimes during this semester.
  • 04:05I didn’t write it here but it’s okay to use an article that you’ve already chosen, if you like, a doubt that’s going to be the best strategy, but.
    • One component, there will be the second point here that you’re to insights that you choose from the course the best to insights will be ones that are very qualitatively distinct right because you’re trying to teach your reader.
    • 05:06or trying to make the claim that something like, for example.
    • 05:11tech companies can teach us at least two things about economic development and so it’s more interesting if those two things are sort of unrelated so what’s an example.
    • 05:21So, if your insights were something like jogger free methods for malaria and average life expectancy is in poor countries is low.
    • 05:29These are not very distinct different two different topics one from geography, one from the first week of basic facts but they’re not very distinct they’re clearly related so that’s really sort of the same inside.
    • 05:39So that won’t score as high on that dimension, as would, if you would write about insights such as institutions, promote coordination that’s something we learned.
    • 05:50This week, and you know behavioral poverty traps or anything that was from a couple of weeks ago those two insights a really unrelated to each other, so the fact that they’re unrelated makes it more interesting to read.
    • 06:05And it makes the.
    • search around some some recent articles and and the goal here is to.
    • 13:43Combine.
    • 13:46Your learning in a more holistic way so that you don’t think of will topic, one was about facts and topic today is about her doma, and these are all unrelated I want you to do some work and sort of see the ways in which.
    • 14:00different ideas from different parts of the course.
    • 14:03sort of go together and how they manifest themselves in real life examples.
    • 14:09Through.
    • 14:10yeah so.
    • 06:08makes it easier for you to make the claim that you know what tech companies can teach us about economic development is a wide range of things, not just sort of basically one thing.

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Macro Economics Question

Q1. Illustrates the market for chocolate bars has the following demand and supply



Quantity Demanded

Quantity Supplied



















a.Graph the demand and supply curves. What is the equilibrium price and quantity in this market?

b.If the actual price in this market were above the equilibrium price, what would

drive the market toward the equilibrium?

c.If the actual price in this market were below the equilibrium price, what would

drive the market toward the equilibrium?

Q2. Illustrates the market for pizza is characterized by a downward-sloping demand curve

and an upward-sloping supply curve.

a.Draw the competitive market equilibrium. Label the price, quantity, consumer

surplus, and producer surplus. Is there any deadweight loss? Explain.

b.Suppose that the government forces each pizzeria to pay a $1 tax on each pizza sold. Illustrate the effect of this tax on the pizza market, being sure to label the consumer surplus, producer surplus, government revenue, and deadweight loss. How does each area compare to the pre-tax case?

c.If the tax were removed, pizza eaters and sellers would be better off, but the

government would lose tax revenue. Suppose that consumers and producers voluntarily transferred some of their gains to the government. Could all parties (including the government) be better off than they were with a tax? Explain using the labeled areas in your graph

Q3. Suppose that a market is described by the following supply and demand equations:

QS = 2P

QD = 300 – P

a.Solve for the equilibrium price and the equilibrium quantity.

b.Suppose that a tax of T is placed on buyers, so the new demand equation is

QD = 300 – (P + T).

Solve for the new equilibrium. What happens to the price received by sellers, the price paid by buyers, and the quantity sold?

c.Tax revenue is T X Q. Use your answer to part (b) to solve for tax revenue as a function of T. Graph this relationship for T between 0 and 300.

d.The deadweight loss of a tax is the area of the triangle between the supply and

demand curves. Recalling that the area of a triangle is 1 ⁄2 x base x height, solve for deadweight loss as a function of T. Graph this relationship for T between 0 and 300. (Hint: Looking sideways, the base of the deadweight loss triangle is T, and the height is the difference between the quantity sold with the tax and the quantity sold without the tax.)

e.The government now levies a tax on this good of $200 per unit. Is this a good

policy? Why or why not? Can you propose a better policy?


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Macro Economics Question

Some are multiple-choice and others require being solved and worked through. Will list the topics that are covered at the bottom of this description. Can only send one question at a time. Will send first questions when we are matched then the next. Can not go back to a question either. Once it is complete it’s gone. There is no time limit. You are able to stop at one question and come back at a later time which I will have to do. If you don’t feel confident in doing these Pearson my lab econ questions to a 100% certainty, please don’t bid on the question because I will give a bad review.

Outline 1 (Chapter 5: The Wealth of Nations – Defining and Measuring Macroeconomic Aggregates)

  • Macroeconomic Questions
  • National Income Accounts: Production = Expenditure = Income
    • Production
    • Expenditure
    • Income
    • Circular Flows
    • National Income Accounts: Production
    • National Income Accounts: Expenditure
    • National Income Accounting: Income
  • What isn’t measured by GDP?
    • Physical capital depreciation
    • Home production
    • The Underground Economy
    • Negative Externalities
    • Gross domestic product versus Gross national product
    • The increase in income inequality
    • Leisure
    • Does GDP buy happiness?
  • Real versus Nominal
    • The GDP Deflator
    • The Consumer Price Index
    • Inflation
    • Adjusting Nominal Variables

Outline 2 (Chapter 6: Aggregate Incomes)

  • Inequality around the world
  • Productivity and the aggregate production function
    • Productivity differences
    • The aggregate production function
    • Labor
    • Physical Capital and Land
    • Technology
    • Representing the Aggregate Production Function
  • The role and determinants of technology
    • Technology
    • Dimensions of Technology
    • Entrepreneurship

Outline 3 (Chapter 9: Employment and Unemployment)

  • Measuring employment and unemployment
  • Equilibrium in the labor market
    • The demand for labor
    • Shifts in the labor demand curve
    • The supply of labor
    • Shifts in the labor supply curve
    • Equilibrium in a competitive labor market
  • Why is there unemployment?
    • Voluntary unemployment
    • Job search and frictional unemployment
  • Wage rigidity and structural unemployment
    • Minimum wage laws
    • Labor unions and collective bargaining
    • Efficiency wages
    • Downward wage rigidity
  • Cyclical unemployment and the natural rate of unemployment

Outline 4 (Chapter 11: The Monetary System)

  • Money
    • The functions of money
    • Types of money
    • The money supply
  • Money, prices and GDP
    • Nominal GDP, real GDP and inflation
    • The quantity theory of money
  • Inflation
    • What causes inflation?
    • The consequences of inflation
    • The social costs of inflation
    • The social benefits of inflation
  • The Federal Reserve
    • The Central Bank and the objectives of monetary policy
    • What does the central bank do?
  • Bank reserves and the plumbing of the monetary system
    • Bank reserves and liquidity
    • The demand side of the federal funds market
    • The supply side of the federal funds market and equilibrium in the Federal funds market
    • The Fed’s influences on the money supply and the inflation rate
    • The relationship between the federal funds rate and the long-term real interest rate

Outline 5 (Chapter 12: Short-Run Fluctuations)

  • Economic fluctuations and business cycle
  • Macroeconomic Equilibrium and Economic Fluctuations
    • Labor Demand and Fluctuations
    • Sources of Fluctuations
      • Technology shocks: Explanation from real business cycle theory
      • Sentiments and multipliers: Explanation from John Maynard Keynes
      • Monetary and Financial Factors: Explanation from Milton Friedman
    • Multipliers and Economic Fluctuations
    • Equilibrium in the medium run: Partial recovery and Full recovery
  • Modeling Expansions

Outline 6 (Chapter 13: Countercyclical Macroeconomic Policy)

  • The role of countercyclical policies in economic fluctuations
  • Countercyclical monetary policy
    • Controlling the federal funds rate
    • Other tools of the Fed
    • Expectations, Inflation and Monetary Policy
    • Contractionary monetary policy: control of inflation
    • Zero lower bound
    • Policy Trade-offs
  • Countercyclical Fiscal Policy
    • Fiscal policy over the business cycle: Automatic and Discretionary components
    • Analysis of Expenditure based fiscal policy
    • Analysis of taxation based fiscal policy
    • Fiscal policies that directly target the labor market

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