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2. ECO 203 expert tutorial ECO 203 Entire Course ECO 203 Week 1 DQ 1 Economics Systems • ECO 203 Week 1 DQ 1 Economics Systems • ECO 203 Week 1 DQ 2 Role of Government • ECO 203 Week 1 Quiz • ECO 203 Week 2 DQ 1 The Current State of the Economy and Unemployment • ECO 203 Week 2 DQ 2 Who Benefits and Who Loses from Inflation ? • Economics Systems. Discuss how your college education could be considered an investment in human capital. What is the opportunity cost of your degree? • Reference: Chapter 1, section 1.1: Economics and Chapter 2, section 2.1: Limited Resources. • Guided Response: Review and respond to at least two of your classmates’ posts by replying to their posts on how a college education contributes to human capital and the opportunity cost of a degree. Be sure to refer to concepts found in the reading when responding to your classmates.

3. ECO 203 expert tutorial ECO 203 Week 1 DQ 2 Role of Government ECO 203 Week 1 Quiz • Role of Government. Economics is the study of how society chooses to allocate its scarce productive resources (labor, capital, land, entrepreneurial talent). • In a mixed economy, elements of both central planning and market allocation of resources are used in allocating productive resources. The United States economy is a mixed economy, with a bias towards market allocation of resources. This means most resources are allocated in the private sector by way of markets. • 1. Question : If an individual's income increases, then the demand for a normal good will • 2. Question : An example of investment, as defined in economics, is • 3. Question : All but which one of the following could shift the demand curve? • 4. Question : When a firm decides to replace some workers with robots in its production process, it is making a decision about one of the basic economic questions. Which one? • 5. Question : When price changes, one should expect a change in • 6. Question : Demand relates the various amounts that consumers are willing to buy over a specified time period

4. ECO 203 expert tutorial ECO 203 Week 2 DQ 1 The Current State of the ECO 203 Week 2 DQ 2 Who Benefits and Who Loses from Inflation • The Current State of the Economy and Unemployment. Imagine a scenario where there is a decline in aggregate demand. Identify which part of the business cycle is part of a decline in aggregate demand. Gross Domestic Product (GDP) measures the amount of new production. A change in the amount of new production affects employment. Describe what would happen to GDP, the unemployment rate and the inflation rate if there is a decline in aggregate demand. • Who Benefits and Who Loses from Inflation? Inflation is an important policy issue because it causes a redistribution of income and wealth, and discourages saving and investment. Discuss how inflation affects borrowers and lenders, asset prices, and households on fixed incomes. • Reference: Chapter 4, section 4.3: Gainers and Losers from Inflation.

5. ECO 203 expert tutorial ECO 203 Week 2 Quiz ECO 203 Week 3 Assignment Efforts to Reduce the Budget Deficit • 1. Question : The term “recession” refers to a • 2. Question : Who is NOT a loser in inflation? • 3. Question : The transfer of funds from savers to business investors takes place in the • 4. Question : If taxes increase and the AS curve is upward sloping, then • 5. Question : The turning points of the business cycle are called • Efforts to Reduce the Budget Deficit. The rapid growth of the national debt alarmed some politicians and created pressure for restricting Congress's unlimited ability to spend. After reviewing Chapter 10, Section 10.2: Efforts to Reduce the Deficit, write a 2-3 page paper, formatted according to APA style as outlined in your approved style guide, discussing the actions taken by the Congress since 1985 to reduce the budget deficits.

6. ECO 203 expert tutorial ECO 203 Week 3 DQ 1 Government Fiscal Policy ECO 203 Week 3 DQ 2 Budget Deficits and the National Debt • Government Fiscal Policy. Between 2007 and 2009 the U.S. economy experienced a severe recession. In an effort to stimulate the economy, the federal government passed a stimulus package. Explain the federal government’s use of fiscal policy (the stimulus) to promote growth and employment. Support your ideas with concepts found in the assigned reading. Include the following in your response: • Budget Deficits and the National Debt. Between 2007 and 2011 the federal budget deficit grew from $160.7 billion to $1,299.6 billion, and the national debt grew from $8.9 trillion to $14.8 trillion. (Figure 10.1: The ratio of debt to GDP, 1977-2011.) • In your post, differentiate the budget deficit from the national debt. How do you think the increases in the budget deficits and the national debt will affect the economy in the future?

7. ECO 203 expert tutorial ECO 203 Week 3 Quiz ECO 203 Week 4 DQ 1 Federal Reserve Bank Policy during the • 1. Question : The time between the legislation of fiscal policy and its effect on output and employment is called • 2. Question : The federal income tax is • 3. Question : The largest single item in the federal budget is • 4. Question : The Investment Tax Credit • Fed Policy during the 2007-2008 Recession. [Insert prompt].From 2007-2010, the Federal Reserve Bank (the Fed) used many practices that had never before been seen from the central bank of the United States. • Discuss the some of the actions that the Fed took during this period. Such as: • How the Federal Reserve’s lending practices changed during this period.

8. ECO 203 expert tutorial ECO 203 Week 4 DQ 2 The Effect of Bank Lending on the Economy ECO 203 Week 4 Quiz • The Effect of Bank Lending on the Economy. In conducting expansionary monetary policy, even if the Federal Reserve Bank is providing reserves to the banking system, during a recession or during periods of slow economic growth, banks may choose not to lend out their reserves when interest rates are low and potential borrowers look risky. This is known as a “credit crunch”. Explain how a credit crunch affects economic growth. Specifically, answer these questions in your post: • 1. Question : M1 includes all but which one of the following? • 2. Question : The transactions demand for money depends on • 3. Question : Individuals accept dollars because • 4. Question : The fact that money is legal tender increases its

9. ECO 203 expert tutorial ECO 203 Week 5 DQ 1 Foreign Direct Investment ECO 203 Week 5 DQ 2 Economies in Transition • Foreign Direct Investment. Imagine you are in charge of development for a developing country and were approached by a multinational corporation interested in locating in your country. • Identify some of the benefits and some of the costs to the host country from allowing a multinational corporation to locate in a country with a developing economy. Discuss with your classmates if developmental assistance from world developmental agencies, such as the World Bank or the United Nations, would be preferable to private investment. • Economies in Transition. The movement in the direction of a market-based system with freely determined prices, competition, profits, private ownership, and other features of capitalism is not simple. Discuss some of the challenges associated with an economy transitioning from socialism to capitalism.

10. ECO 203 expert tutorial ECO 203 Week 5 Final Paper Expansionary Economic Policy • In an effort to move the economy out of a recession, the federal government would engage in expansionary economic policies. Describe the actions the government would take in conducting expansionary fiscal policy and expansionary monetary policy. • Expansionary Fiscal Policy: • Review Chapter 7: Classical Macroeconomics and the Keynesian Challenge and Chapter 9: Taxes, Government Spending, and Fiscal Policy.

11. ECO 203 expert tutorial For more course tutorials visit www.indigohelp.com